Latin America and the Caribbean: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Latin America and the Caribbean

The Latin American market for palmitic acid, stearic acid, their salts and esters was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market hit record highs 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 Latin America and the Caribbean

In value terms, production of palmitic acid, stearic acid, their salts and esters expanded slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep slump. Over the period under review, production of reached the maximum level 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 in Latin America and the Caribbean

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were exported in Latin America and the Caribbean; with a decrease of -11.4% compared with the previous year's figure. In general, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2018 when exports increased by 33%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters rose sharply to $X in 2021. Over the period under review, exports continue to indicate a noticeable contraction. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Colombia (X tons) was the key exporter of palmitic acid, stearic acid, their salts and esters, committing 63% of total exports. Brazil (X tons) held the second position in the ranking, distantly followed by Mexico (X tons) and Peru (X tons). All these countries together held near 34% share of total exports.

Colombia was also the fastest-growing in terms of the palmitic acid, stearic acid, their salts and esters exports, with a CAGR of +8.4% from 2012 to 2021. Peru experienced a relatively flat trend pattern. Brazil (-7.9%) and Mexico (-12.1%) illustrated a downward trend over the same period. While the share of Colombia (+39 p.p.) and Peru (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-11.8 p.p.) and Mexico (-14.5 p.p.) displayed negative dynamics.

In value terms, Colombia ($X), Peru ($X) and Brazil ($X) were the countries with the highest levels of exports in 2021, with a combined 84% share of total exports.

Colombia, with a CAGR of +5.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 26% against the previous year. In general, the export price, however, recorded a slight setback. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+3.4%), while the other leaders experienced more modest paces of growth.

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

Imports in Latin America and the Caribbean

In 2021, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by 34% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tons) and Mexico (X tons) represented roughly 58% of total imports in 2021. Colombia (X tons) ranks next in terms of the total imports with a 13% share, followed by Chile (6%), Argentina (5.2%) and Peru (4.6%). Ecuador (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Colombia (with a CAGR of +9.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest palmitic acid, stearic acid, their salts and esters importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Colombia ($X), with a combined 68% share of total imports.

Among the main importing countries, Colombia, with a CAGR of +7.7%, 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 import price in Latin America and the Caribbean amounted to $X per ton, rising by 10% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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