Japan: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Japan

In 2021, the Japanese industrial stearic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a deep setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in Japan

In value terms, industrial stearic acid production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 71%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports from Japan

In 2021, overseas shipments of industrial stearic acid increased by 44% to X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main destinations of industrial stearic acid exports from Japan, with a combined 87% share of total exports. These countries were followed by Singapore and Thailand, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +38.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Vietnam ($X) constituted the largest markets for industrial stearic acid exported from Japan worldwide, with a combined 84% share of total exports. These countries were followed by Singapore and Thailand, which together accounted for a further 14%.

Singapore, with a CAGR of +36.4%, recorded the highest rates of growth with regard to the value of exports, among 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 industrial stearic acid export price amounted to $X per ton, picking up by 2.4% against the previous year. In general, the export price, however, showed a slight slump. The pace of growth was the most pronounced in 2020 when the average export price increased by 6.5% against the previous year. 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 foreign markets. In 2021, the highest price was recorded for prices to Singapore ($X per ton) and Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) and Taiwan (Chinese) ($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 Hong Kong SAR (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports

Imports into Japan

After three years of decline, overseas purchases of industrial stearic acid increased by 27% to X tons in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, industrial stearic acid imports soared to $X in 2021. Overall, total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of industrial stearic acid imports to Japan, together accounting for 99.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +86.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Indonesia ($X) and China ($X) were the largest industrial stearic acid suppliers to Japan, together comprising 99.9% of total imports.

China, with a CAGR of +84.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, with an increase of 43% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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