Ireland: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Ireland

The Irish industrial stearic acid market contracted rapidly to $X in 2021, shrinking by -20.8% 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, however, showed a tangible expansion. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Industrial Stearic Acid Exports

Exports from Ireland

In 2021, shipments abroad of industrial stearic acid increased by 243% to X tons, rising for the third year in a row after two years of decline. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of 2,933% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial stearic acid exports surged to $X in 2021. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 1,572% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for industrial stearic acid exports from Ireland, accounting for a 62% share of total exports. Moreover, industrial stearic acid exports to the UK exceeded the volume sent to the second major destination, Pakistan (X tons), fivefold. The third position in this ranking was taken by Indonesia (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +376.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+12.7% per year) and Indonesia (0.0% per year).

In value terms, the UK ($X) emerged as the key foreign market for industrial stearic acid exports from Ireland, comprising 54% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 17% share of total exports. It was followed by Indonesia, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +282.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+19.4% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, with a decrease of -12.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 62%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Chile ($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 Chile (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Ireland

For the third consecutive year, Ireland recorded decline in purchases abroad of industrial stearic acid, which decreased by -23% to X tons in 2021. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 792%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, industrial stearic acid imports surged to $X in 2021. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 216%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of industrial stearic acid imports to Ireland, with a combined 94% share of total imports. Malaysia lagged somewhat behind, accounting for a further 4.3%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +216.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid suppliers to Ireland were Germany ($X), the UK ($X) and Indonesia ($X), with a combined 93% share of total imports. Malaysia lagged somewhat behind, accounting for a further 5%.

Malaysia, with a CAGR of +139.3%, 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

In 2021, the average industrial stearic acid import price amounted to $X per ton, with an increase of 52% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 56%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Indonesia ($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 UK (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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