Kenya: 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 Kenya

In 2021, the Kenyan market for lauric acid and other acids, their salts and esters increased by 194% to $X, rising for the second year in a row after two years of decline. Overall, consumption enjoyed a resilient increase. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the immediate term.

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

Exports from Kenya

In 2021, shipments abroad of lauric acid and other acids, their salts and esters decreased by -32% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when exports increased by 519% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters reduced dramatically to $X in 2021. In general, exports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 379% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Ethiopia (X tons), Burundi (X tons) and Democratic Republic of the Congo (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from Kenya, with a combined 82% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of +49.1%), while the other leaders experienced more modest paces of growth.

In value terms, Ethiopia ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Kenya, comprising 48% of total exports. The second position in the ranking was taken by Rwanda ($X), with a 16% share of total exports. It was followed by Tanzania, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ethiopia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+26.8% per year) and Tanzania (+2.3% 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, jumping by 18% against the previous year. Over the period under review, the export price, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2020 an increase of 74% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Burundi ($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 Rwanda (+14.8%), 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 Kenya

In 2021, supplies from abroad of lauric acid and other acids, their salts and esters was finally on the rise to reach X tons after two years of decline. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 238% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest lauric acid and other acids, their salts and esters supplier to Kenya, with a 14% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+55.3% per year) and the Netherlands (-1.9% per year).

In value terms, Switzerland ($X), Germany ($X) and the Netherlands ($X) were the largest lauric acid and other acids, their salts and esters suppliers to Kenya, with a combined 24% share of total imports. Indonesia, China, Malaysia and India lagged somewhat behind, together comprising a further 17%.

Among the main suppliers, China, with a CAGR of +33.8%, saw the highest rates of growth with regard to the value of imports, 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 import price for lauric acid and other acids, their salts and esters amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 33%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for Indonesia ($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 (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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