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

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

The Malaysian market for palmitic acid, stearic acid, their salts and esters declined rapidly to $X in 2021, shrinking by -22.7% against the previous year. Over the period under review, consumption faced a abrupt shrinkage. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, production of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 24%. Production of peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

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

Exports from Malaysia

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters was finally on the rise to reach X tons after two years of decline. In general, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.4% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 30% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports of reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and the Netherlands (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Malaysia, with a combined 32% share of total exports. China, Canada, India, South Korea, Indonesia, Sweden, Thailand, Brazil, Mexico and Sri Lanka lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +46.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from Malaysia were the United States ($X), Japan ($X) and the Netherlands ($X), with a combined 32% share of total exports. China, Canada, South Korea, India, Indonesia, Thailand, Brazil, Sweden, Mexico and Sri Lanka lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +45.5%, saw the highest growth rate of the value of exports, 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 export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, increasing by 40% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and China ($X per ton), while the average price for exports to Canada ($X per ton) and Sweden ($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 Sweden (+1.4%), 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 Malaysia

In 2021, purchases abroad of palmitic acid, stearic acid, their salts and esters decreased by -42.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 59%. As a result, imports attained the peak of X tons, and then plummeted in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters declined markedly to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 56% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Malaysia, with a 84% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, Italy (X tons), tenfold. Singapore (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.6% per year) and Singapore (-7.8% per year).

In value terms, Indonesia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Malaysia, comprising 78% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.4% share of total imports. It was followed by Singapore, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.0% per year) and Singapore (-7.6% 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, growing by 9.5% against the previous year. Overall, the import price, however, showed a perceptible setback. The pace of growth was the most pronounced in 2017 an increase of 11%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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