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

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

After four years of growth, the North American market for palmitic acid, stearic acid, their salts and esters decreased by -2.3% to $X in 2021. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Northern America

In value terms, production of palmitic acid, stearic acid, their salts and esters contracted to $X in 2021 estimated in export price. Overall, production saw a noticeable downturn. The pace of growth appeared the most rapid in 2019 with an increase of 11% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports in Northern America

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by 25% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports of reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters amounted to $X in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States dominates esters structure, resulting at X tons, which was approx. 95% of total exports in 2021. It was distantly followed by Canada (X tons), committing a 4.9% share of total exports.

The United States was also the fastest-growing in terms of the palmitic acid, stearic acid, their salts and esters exports, with a CAGR of +2.3% from 2012 to 2021. Canada (-15.8%) illustrated a downward trend over the same period. While the share of the United States (+18 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Canada (-18.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest palmitic acid, stearic acid, their salts and esters supplier in Northern America, comprising 89% of total exports. The second position in the ranking was held by Canada ($X), with an 11% share of total exports.

In the United States, exports of palmitic acid, stearic acid, their salts and esters increased at an average annual rate of +1.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, dropping by -10.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 an increase of 27%. Over the period under review, the export prices reached the maximum at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+21.6%).

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

Imports in Northern America

In 2021, the amount of palmitic acid, stearic acid, their salts and esters imported in Northern America rose modestly to X tons, increasing by 3.5% compared with the year before. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the key importer of palmitic acid, stearic acid, their salts and esters in Northern America, with the volume of imports amounting to X tons, which was approx. 76% of total imports in 2021. It was distantly followed by Canada (X tons), committing a 24% share of total imports.

Imports into the United States increased at an average annual rate of +2.6% from 2012 to 2021. At the same time, Canada (+4.3%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.3% from 2012-2021. While the share of Canada (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United States (-2.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported palmitic acid, stearic acid, their salts and esters in Northern America, comprising 74% of total imports. The second position in the ranking was held by Canada ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +3.1%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, picking up by 30% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.5%).

Source: IndexBox Platform

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