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

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

In 2021, the Peruvian market for palmitic acid, stearic acid, their salts and esters increased by 8.6% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a abrupt slump. Consumption of peaked 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 Peru

In value terms, production of palmitic acid, stearic acid, their salts and esters rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 6.2% against the previous year. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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

Exports from Peru

Exports of palmitic acid, stearic acid, their salts and esters from Peru skyrocketed to X tons in 2021, growing by 26% compared with the previous year. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 27% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 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. Overall, total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some 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

Ecuador (X tons), Bolivia (X tons) and Colombia (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Peru, together comprising 93% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bolivia (with a CAGR of +8.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from Peru were Ecuador ($X), Bolivia ($X) and Colombia ($X), together comprising 98% of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, jumping by 51% against the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for palmitic acid, stearic acid, their salts and esters increased by +53.3% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Argentina ($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 Ecuador (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Peru

In 2021, purchases abroad of palmitic acid, stearic acid, their salts and esters was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Colombia (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Peru, accounting for a 50% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.6% per year) and India (+83.0% per year).

In value terms, Colombia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Peru, comprising 36% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Colombia amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.3% per year) and the United States (+1.3% 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, growing by 35% against the previous year. Over the period under review, the import price, however, showed a mild downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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