Myanmar: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Myanmar

After three years of decline, the Myanmar's industrial monocarboxylic fatty acids market increased by 3.5% to $X in 2021. Over the period under review, consumption, however, recorded a deep reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in Myanmar

In value terms, industrial monocarboxylic fatty acids production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Industrial monocarboxylic fatty acids production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Myanmar

In 2021, the amount of industrial monocarboxylic fatty acids exported from Myanmar soared to X tons, growing by 118% compared with the previous year. Over the period under review, exports, however, continue to indicate a slight reduction. The pace of growth was the most pronounced in 2019 when exports increased by 301%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial monocarboxylic fatty acids exports skyrocketed to $X in 2021. In general, exports posted a prominent expansion. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Myanmar, accounting for a 70% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-69.2% per year) and Hong Kong SAR (0.0% per year).

In value terms, China ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from Myanmar, comprising 91% of total exports. The second position in the ranking was taken by Thailand ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-73.6% per year) and Hong Kong SAR (0.0% per year).

Export Prices by Country

In 2021, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, picking up by 149% against the previous year. Overall, the export price saw a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($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 China (+12.8%).

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Myanmar

In 2021, imports of industrial monocarboxylic fatty acids into Myanmar contracted sharply to X tons, shrinking by -70.7% on 2020. Overall, imports recorded a precipitous decline. The pace of growth was the most pronounced in 2019 with an increase of 430%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, industrial monocarboxylic fatty acids imports reduced rapidly to $X in 2021. In general, imports showed a significant decrease. The growth pace was the most rapid in 2019 with an increase of 983%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest industrial monocarboxylic fatty acids supplier to Myanmar, accounting for a 54% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.7% per year) and Indonesia (-38.2% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Myanmar, comprising 50% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-5.7% per year) and Singapore (-21.4% per year).

Import Prices by Country

In 2021, the average industrial monocarboxylic fatty acids import price amounted to $X per ton, increasing by 35% against the previous year. In general, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial monocarboxylic fatty acids import price decreased by -23.5% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 104% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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