MERCOSUR: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in MERCOSUR

In 2021, the MERCOSUR industrial stearic acid market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in MERCOSUR

In value terms, industrial stearic acid production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, showed a deep slump. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in MERCOSUR

In 2021, shipments abroad of industrial stearic acid increased by 28% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +45.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 49% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, industrial stearic acid exports surged to $X in 2021. Overall, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina was the largest exporting country with an export of about X tons, which accounted for 75% of total exports. It was distantly followed by Brazil (X tons), committing a 22% share of total exports. Ecuador (X tons) held a little share of total exports.

Exports from Argentina increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, Brazil (+29.3%) and Ecuador (+29.1%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +29.3% from 2012-2021. Brazil (+19 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -19.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest industrial stearic acid supplier in MERCOSUR, comprising 74% of total exports. The second position in the ranking was held by Brazil ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Argentina totaled +2.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+30.9% per year) and Ecuador (+20.5% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, picking up by 69% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid export price increased by +93.3% against 2019 indices. As a result, the export 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 exporting countries. In 2021, the country with the highest price was Brazil ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in MERCOSUR

For the fourth year in a row, MERCOSUR recorded growth in overseas purchases of industrial stearic acid, which increased by 43% to X tons in 2021. The total import volume increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. In general, imports showed a temperate increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the key importer of industrial stearic acid in MERCOSUR, with the volume of imports recording X tons, which was near 62% of total imports in 2021. It was distantly followed by Colombia (X tons), Peru (X tons) and Argentina (X tons), together generating a 34% share of total imports. Chile (X tons) took a minor share of total imports.

Imports into Brazil increased at an average annual rate of +2.8% from 2012 to 2021. At the same time, Peru (+9.0%), Argentina (+8.7%), Colombia (+4.4%) and Chile (+4.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +9.0% from 2012-2021. From 2012 to 2021, the share of Peru and Argentina increased by +3.2 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported industrial stearic acid in MERCOSUR, comprising 65% of total imports. The second position in the ranking was held by Colombia ($X), with a 14% share of total imports. It was followed by Argentina, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +4.1%. In the other countries, the average annual rates were as follows: Colombia (+3.5% per year) and Argentina (+10.6% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, increasing by 53% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while Peru ($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 (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform