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

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

In 2021, the Norwegian market for palmitic acid, stearic acid, their salts and esters increased by 0.6% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, showed a abrupt downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Norway

In value terms, production of palmitic acid, stearic acid, their salts and esters reduced slightly to $X in 2021 estimated in export price. In general, production, however, saw a deep reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 74% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production of growth remained at a somewhat lower figure.

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

Exports from Norway

In 2021, exports of palmitic acid, stearic acid, their salts and esters from Norway surged to X tons, rising by 229% against the previous year's figure. In general, exports, however, continue to indicate a precipitous contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Over the period under review, exports, however, faced a significant decline. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Norway, with a 93% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Turkey exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +13.3%.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +15.6%.

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, increasing by 11% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Norway

In 2021, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by 35% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a dramatic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 68% against the previous year. Imports peaked at X tons in 2013; however, from 2014 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, continue to indicate a deep setback. Over the period under review, imports of attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Norway, with a 74% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +57.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+16.6% per year) and Italy (+39.9% per year).

In value terms, Germany ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Norway, comprising 59% of total imports. The second position in the ranking was held by the UK ($X), with a 19% share of total imports. It was followed by Italy, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+17.9% per year) and Italy (+42.5% per year).

Import Prices by Country

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, picking up by 45% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 55% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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 Malaysia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+32.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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