Iran: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Iran

The Iranian market for lauric acid and other acids, their salts and esters soared to $X in 2021, jumping by 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed notable growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Iran

Exports of lauric acid and other acids, their salts and esters from Iran soared to X tons in 2021, with an increase of 268% compared with 2020. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,627,600%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, exports of lauric acid and other acids, their salts and esters surged to $X in 2021. In general, exports recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of 19,035,400%. Over the period under review, the exports of hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

The United Arab Emirates (X tons), Turkey (X tons) and Pakistan (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from Iran, with a combined 100% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +79.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Iran, comprising 49% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 21% share of total exports. It was followed by Turkey, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +70.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+92.1% per year) and Turkey (-1.4% per year).

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, increasing by 35% against the previous year. In general, the export price showed moderate growth. The growth pace was the most rapid in 2016 when the average export price increased by 1,167% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Pakistan ($X per ton), while the average price for exports to Turkey ($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 Azerbaijan (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Iran

In 2021, the amount of lauric acid and other acids, their salts and esters imported into Iran soared to X tons, jumping by 130% against the previous year's figure. Overall, imports saw a resilient increase. Over the period under review, imports of attained the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. In general, total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.8% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 49%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

Malaysia (X tons), Turkey (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to Iran, together comprising 36% of total imports. Switzerland, France, China, India, Singapore, Belgium, South Korea, Italy, Austria and Georgia lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +44.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lauric acid and other acids, their salts and esters suppliers to Iran were Turkey ($X), Switzerland ($X) and Malaysia ($X), with a combined 42% share of total imports. These countries were followed by Austria, Belgium, the United Arab Emirates, India, South Korea, Italy, Singapore, China, France and Georgia, which together accounted for a further 34%.

Austria, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 lauric acid and other acids, their salts and esters stood at $X per ton in 2021, with a decrease of -39.9% against the previous year. Overall, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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