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

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in the Russian Federation

The Russian market for palmitic acid, stearic acid, their salts and esters soared to $X in 2021, growing by 36% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

Exports from the Russian Federation

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters decreased by -15.9% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 85% against the previous year. The exports peaked at X tons in 2020, and then fell sharply in the following year.

In value terms, exports of palmitic acid, stearic acid, their salts and esters rose sharply to $X in 2021. Over the period under review, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +93.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 77% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Belarus (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Russia, accounting for a 58% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Belarus exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold. The third position in this ranking was held by Uzbekistan (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus stood at +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+4.7% per year) and Uzbekistan (+61.0% per year).

In value terms, Belarus ($X) emerged as the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Russia, comprising 58% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 17% share of total exports. It was followed by Uzbekistan, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+4.9% per year) and Uzbekistan (+67.6% per year).

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, rising by 29% against the previous year. Overall, the export price, however, recorded a pronounced setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Kazakhstan ($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 Uzbekistan (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into the Russian Federation

In 2021, supplies from abroad of palmitic acid, stearic acid, their salts and esters increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Russia, with a 33% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from India exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.1% per year) and Turkey (-3.4% per year).

In value terms, India ($X), Italy ($X) and Turkey ($X) appeared to be the largest palmitic acid, stearic acid, their salts and esters suppliers to Russia, together comprising 56% of total imports. These countries were followed by Germany, Malaysia, China, Belgium, Ukraine, Spain, South Korea, Indonesia and Sweden, which together accounted for a further 37%.

Sweden, with a CAGR of +55.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, jumping by 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue 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 Spain ($X per ton), while the price for Belgium ($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 (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :