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

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

After three years of decline, the Kenyan market for palmitic acid, stearic acid, their salts and esters increased by 26% to $X in 2021. Overall, consumption, however, saw a abrupt descent. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Kenya

In value terms, production of palmitic acid, stearic acid, their salts and esters rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 44%. Production of peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports from Kenya

After three years of growth, shipments abroad of palmitic acid, stearic acid, their salts and esters decreased by -74% to X tons in 2021. Overall, exports showed a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by 3,170%. Over the period under review, the exports of reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters shrank markedly to $X in 2021. Over the period under review, exports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2019 when exports increased by 1,618% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Djibouti (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Kenya, with a 59% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Djibouti exceeded the volume sent to the second major destination, Ethiopia (X tons), twofold. Tanzania (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Djibouti totaled +91.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-27.8% per year) and Tanzania (-15.6% per year).

In value terms, Djibouti ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Kenya, comprising 61% of total exports. The second position in the ranking was taken by Ethiopia ($X), with a 22% share of total exports. It was followed by Tanzania, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Djibouti stood at +130.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-32.1% per year) and Tanzania (-15.5% per year).

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, rising by 14% against the previous year. Overall, the export price, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to South Africa ($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 Djibouti (+20.2%), 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 Kenya

In 2021, the amount of palmitic acid, stearic acid, their salts and esters imported into Kenya rose markedly to X tons, increasing by 12% against the previous year's figure. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 91% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 82%. Over the period under review, imports of reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

India (X tons), Uganda (X tons) and China (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Kenya, together accounting for 76% of total imports. These countries were followed by the United Arab Emirates, France, Indonesia, Malaysia and Germany, which together accounted for a further 8.5%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Kenya, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Uganda, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from India stood at +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and Uganda (+43.7% per year).

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, surging by 35% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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