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

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

In 2021, the Indonesian market for palmitic acid, stearic acid, their salts and esters decreased by -63.4% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption showed a significant decline. The growth pace was the most rapid in 2016 when the market value increased by 9.2% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

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

In value terms, production of palmitic acid, stearic acid, their salts and esters dropped to $X in 2021 estimated in export price. Overall, production saw a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 21% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

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

Exports from Indonesia

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were exported from Indonesia; rising by 19% on the year before. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +10.3% 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 increased by +78.7% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 63% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, exports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 54% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons), Malaysia (X tons) and China (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Indonesia, with a combined 44% share of total exports. These countries were followed by the Netherlands, Spain, Japan, Nigeria, Germany, Angola, Canada and the UK, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +30.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Malaysia ($X) were the largest markets for palmitic acid, stearic acid, their salts and esters exported from Indonesia worldwide, together accounting for 43% of total exports. The Netherlands, Japan, Spain, Nigeria, Germany, Canada, the UK and Angola lagged somewhat behind, together accounting for a further 29%.

Japan, with a CAGR of +31.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, rising by 28% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Indonesia

For the third consecutive year, Indonesia recorded growth in purchases abroad of palmitic acid, stearic acid, their salts and esters, which increased by 11% to X tons in 2021. Over the period under review, imports recorded a slight increase. The pace of growth was the most pronounced in 2015 when imports increased by 28% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Indonesia, with a 46% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.7% per year) and China (+2.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Indonesia, comprising 39% of total imports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.8% per year) and Japan (+11.6% per year).

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, rising by 24% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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