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

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

The Moroccan market for palmitic acid, stearic acid, their salts and esters rose sharply to $X in 2021, with an increase of 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a pronounced decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

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

Exports from Morocco

In 2021, the amount of palmitic acid, stearic acid, their salts and esters exported from Morocco reduced dramatically to X kg, waning by -92.6% against the previous year. Overall, exports saw a sharp curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 4,032%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters shrank markedly to $X in 2021. In general, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2018 with an increase of 1,407%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Mauritania (X kg), Burkina Faso (X kg) and Senegal (X kg) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Morocco, with a combined 90% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +27.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Mauritania ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Morocco, comprising 62% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 19% share of total exports. It was followed by Senegal, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Mauritania stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-32.8% per year) and Senegal (+0.1% 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, increasing by 7% against the previous year. Over the period under review, the export price, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 82%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while the average price for exports to Spain ($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 Mauritania (+6.3%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Morocco

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into Morocco; growing by 3.6% on the previous year. In general, imports, however, recorded a perceptible downturn. The growth pace was the most rapid in 2020 when imports increased by 16% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, imports, however, saw a perceptible decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Morocco, with a 23% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+0.8% per year) and Malaysia (-6.0% per year).

In value terms, Spain ($X), France ($X) and Turkey ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Morocco, with a combined 38% share of total imports.

Turkey, with a CAGR of +1.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

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 12% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 28%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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 France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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