India: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in India

The Indian market for palmitic acid, stearic acid, their salts and esters rose markedly to $X in 2021, with an increase of 9.4% against the previous year. Overall, consumption, however, recorded a perceptible downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in India

In value terms, production of palmitic acid, stearic acid, their salts and esters rose notably to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 16% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production of growth remained at a somewhat lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from India

Exports of palmitic acid, stearic acid, their salts and esters from India shrank modestly to X tons in 2021, with a decrease of -4.4% on the previous year. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 35% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters expanded markedly to $X in 2021. In general, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 56% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and the United Arab Emirates (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from India, together comprising 34% of total exports. Russia, Belgium, South Korea, Germany, South Africa, Sri Lanka, Vietnam, Thailand, Turkey and Saudi Arabia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +47.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Russia ($X) constituted the largest markets for palmitic acid, stearic acid, their salts and esters exported from India worldwide, together accounting for 33% of total exports. These countries were followed by the United Arab Emirates, Belgium, Germany, South Korea, South Africa, Turkey, Thailand, Sri Lanka, Vietnam and Saudi Arabia, which together accounted for a further 33%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +44.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, rising by 11% against the previous year. Overall, the export price, however, showed a mild decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 15%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to South Africa ($X per ton) and Turkey ($X per ton), while the average price for exports to Vietnam ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.7%), while the prices for the other major destinations experienced a decline.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into India

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into India; picking up by 7.9% compared with 2020 figures. In general, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, imports, however, continue to indicate a drastic downturn. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to India, with a combined 69% share of total imports. Singapore, Bangladesh, Indonesia, Saudi Arabia and the United States lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +32.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Netherlands ($X) and China ($X) were the largest palmitic acid, stearic acid, their salts and esters suppliers to India, with a combined 61% share of total imports. The United States, Singapore, Indonesia, Bangladesh and Saudi Arabia lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, Bangladesh, with a CAGR of +20.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, surging by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2015 when the average import price increased by 32% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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