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

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

In 2021, the New Zealand market for palmitic acid, stearic acid, their salts and esters increased by 16% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption, however, showed strong growth. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

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

Exports from New Zealand

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were exported from New Zealand; increasing by 390% on 2020. Over the period under review, exports, however, saw a noticeable slump. The pace of growth was the most pronounced in 2014 when exports increased by 1,042%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. In general, exports, however, saw a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Fiji (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from New Zealand, with a 80% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Fiji exceeded the volume sent to the second major destination, South Korea (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Fiji stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (0.0% per year) and Australia (-20.1% per year).

In value terms, Fiji ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from New Zealand, comprising 80% of total exports. The second position in the ranking was held by South Korea ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Fiji amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (0.0% per year) and Australia (-22.6% per year).

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, picking up by 38% against the previous year. Over the period under review, the export price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2013 when the average export price increased by 52%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Korea ($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 French Polynesia (+21.2%), while the prices for the other major destinations experienced a decline.

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

Imports into New Zealand

In 2021, purchases abroad of palmitic acid, stearic acid, their salts and esters decreased by -1.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 101%. Imports peaked at X tons in 2020, and then reduced slightly in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 73%. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Australia (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to New Zealand, together comprising 82% of total imports. These countries were followed by Indonesia, India, Singapore, Italy and Germany, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +125.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), China ($X) and Malaysia ($X) appeared to be the largest palmitic acid, stearic acid, their salts and esters suppliers to New Zealand, with a combined 82% share of total imports. These countries were followed by Indonesia, India, Singapore, Italy and Germany, which together accounted for a further 17%.

In terms of the main suppliers, India, with a CAGR of +123.2%, recorded 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

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, rising by 26% against the previous year. In general, the import price, however, saw a slight slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Indonesia ($X per ton), while the price for Singapore ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :