Report Update Nov 1, 2024

Nigeria - Palmitic Acid, Stearic Acid, Their Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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

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

In 2021, the Nigerien market for palmitic acid, stearic acid, their salts and esters decreased by -33% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption recorded a pronounced decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

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

Exports from Nigeria

Exports of palmitic acid, stearic acid, their salts and esters from Nigeria skyrocketed to X tons in 2021, rising by 104% against the previous year. Overall, exports, however, recorded a precipitous slump. Over the period under review, the exports of reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Over the period under review, exports, however, saw a sharp slump. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Kenya (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Nigeria, accounting for a approx. 100% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Kenya totaled -23.2%.

In value terms, Kenya ($X) emerged as the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Nigeria.

From 2013 to 2021, the average annual rate of growth in terms of value to Kenya stood at -36.0%.

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, with a decrease of -25.2% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kenya.

From 2013 to 2021, the rate of growth in terms of prices for Kenya amounted to -16.7% per year.

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

Imports into Nigeria

After four years of growth, purchases abroad of palmitic acid, stearic acid, their salts and esters decreased by -35.1% to X tons in 2021. In general, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Imports peaked at X tons in 2020, and then fell sharply in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters declined remarkably to $X in 2021. Overall, imports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2020 with an increase of 79%. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Nigeria, with a 67% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Australia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was taken by Malaysia (X tons), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia totaled -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+15.2% per year) and Malaysia (-6.6% per year).

In value terms, the largest palmitic acid, stearic acid, their salts and esters suppliers to Nigeria were Indonesia ($X), Malaysia ($X) and Australia ($X), together accounting for 76% of total imports. The United Arab Emirates and Hong Kong SAR lagged somewhat behind, together accounting for a further 9.7%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +30.2%, saw 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

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, picking up by 6.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2015 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 Malaysia ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palmitic acid, stearic acid, their salts and esters in the world?

China remains the largest palmitic acid, stearic acid, their salts and esters consuming country worldwide, comprising approx. 23% of total volume. Moreover, consumption of palmitic acid, stearic acid, their salts and esters in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of palmitic acid, stearic acid, their salts and esters in the world?

The countries with the highest volumes of production of palmitic acid, stearic acid, their salts and esters in 2021 were China, India and Indonesia, together accounting for 44% of global production. Malaysia, the United States, Japan, Pakistan, Brazil, Germany, Italy, Singapore, Turkey and Mexico lagged somewhat behind, together comprising a further 40%.

What are the leading suppliers of palmitic acid, stearic acid, their salts and esters to Nigeria?

In value terms, the largest palmitic acid, stearic acid, their salts and esters suppliers to Nigeria were Malaysia, Indonesia and the United Arab Emirates, together accounting for 82% of total imports.

What is the average export price for palmitic acid, stearic acid, their salts and esters in Nigeria?

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $898 per ton, flattening at the previous year.

What is the average import price for palmitic acid, stearic acid, their salts and esters in Nigeria?

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $986 per ton, picking up by 13% against the previous year.

This report provides an in-depth analysis of the market for palmitic acid, stearic acid, their salts and esters in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143235 - Palmitic acid, stearic acid, their salts and esters

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023