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

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

In 2021, after two years of growth, there was significant decline in the Irish market for palmitic acid, stearic acid, their salts and esters, when its value decreased by -32.5% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then dropped rapidly in the following year.

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

Exports from Ireland

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by 1,509% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports posted a strong increase. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, exports enjoyed a resilient increase. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Ireland, accounting for a 94% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to the UK exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +10.1%.

In value terms, the UK ($X) emerged as the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Ireland, comprising 86% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +13.8%.

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, shrinking by -58% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 1,133%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+21.6%), 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 Ireland

After two years of growth, supplies from abroad of palmitic acid, stearic acid, their salts and esters decreased by -21.7% to X tons in 2021. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 44%. As a result, imports attained the peak of X tons, and then contracted remarkably in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters shrank dramatically to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 36% against the previous year. Imports peaked at $X in 2020, and then shrank sharply in the following year.

Imports by Country

In 2021, the UK (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Ireland, accounting for a 34% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from the UK exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+20.0% per year) and Belgium (-0.4% per year).

In value terms, the UK ($X), Belgium ($X) and the Netherlands ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Ireland, with a combined 49% share of total imports.

The Netherlands, with a CAGR of +102.5%, 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 palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, dropping by -11.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 33%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($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 Netherlands (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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