Report Update Nov 1, 2024

Saudi Arabia - Industrial Stearic Acid - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Saudi Arabia

After two years of decline, the Saudi industrial stearic acid market increased by 2.5% to $X in 2021. Overall, consumption, however, continues to indicate a slight decline. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in Saudi Arabia

In value terms, industrial stearic acid production fell slightly to $X in 2021 estimated in export price. In general, production, however, saw a slight setback. The growth pace was the most rapid in 2018 with an increase of 47%. Industrial stearic acid production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from Saudi Arabia

In 2021, after three years of growth, there was significant decline in shipments abroad of industrial stearic acid, when their volume decreased by -69.4% to X tons. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 862% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial stearic acid exports dropped significantly to $X in 2021. Over the period under review, exports continue to indicate a pronounced reduction. The pace of growth was the most pronounced in 2014 with an increase of 822% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Jordan (X tons) was the main destination for industrial stearic acid exports from Saudi Arabia, accounting for a 97% share of total exports. It was followed by the United Arab Emirates (X kg), with a 2.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan totaled -10.2%.

In value terms, Jordan ($X) remains the key foreign market for industrial stearic acid exports from Saudi Arabia, comprising 95% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Jordan stood at -3.2%.

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, surging by 48% against the previous year. Overall, the export price saw a remarkable increase. The growth pace was the most rapid in 2020 an increase of 93%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was Jordan ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+7.8%).

Industrial Stearic Acid Imports

Imports into Saudi Arabia

In 2013, approx. X tons of industrial stearic acid were imported into Saudi Arabia; which is down by -27.4% against the previous year. Overall, imports recorded a dramatic shrinkage. Imports peaked at X tons in 2012, and then shrank notably in the following year.

In value terms, industrial stearic acid imports dropped rapidly to $X in 2013. Over the period under review, imports saw a abrupt curtailment. Imports peaked at $X in 2012, and then fell remarkably in the following year.

Imports by Country

The UK (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of industrial stearic acid imports to Saudi Arabia, with a combined 90% share of total imports.

From 2012 to 2013, the biggest increases were recorded for the United States (with a CAGR of 0.0%), while purchases for the other leaders experienced a decline.

In value terms, the UK ($X), the United States ($X) and Malaysia ($X) constituted the largest industrial stearic acid suppliers to Saudi Arabia, together comprising 93% of total imports.

Among the main suppliers, the United States, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2013, the average industrial stearic acid import price amounted to $X per ton, picking up by 17% against the previous year. Over the period from 2012 to 2013, it increased at an average annual rate of +16.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2013, the most notable rate of growth in terms of prices was attained by the UK (+59.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for industrial stearic acid in the world?

China constituted the country with the largest volume of industrial stearic acid consumption, accounting for 26% of total volume. Moreover, industrial stearic acid consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with an 11% share.

What are the largest producers of industrial stearic acid in the world?

The countries with the highest volumes of industrial stearic acid production in 2020 were Indonesia, China and the United States, together accounting for 51% of global production.

What are the leading suppliers of industrial stearic acid to Saudi Arabia?

In value terms, the largest industrial stearic acid suppliers to Saudi Arabia were the UK, the United States and Malaysia, with a combined 93% share of total imports.

What are the leading importers of industrial stearic acid from Saudi Arabia?

In value terms, Egypt remains the key foreign market for industrial stearic acid exports from Saudi Arabia.

What is the average export price for industrial stearic acid in Saudi Arabia?

In 2020, the average industrial stearic acid export price amounted to $278 per ton, shrinking by -47.5% against the previous year.

What is the average import price for industrial stearic acid in Saudi Arabia?

The average industrial stearic acid import price stood at $2,285 per ton in 2013, rising by 16% against the previous year.

This report provides an in-depth analysis of the industrial stearic acid market in Saudi Arabia. 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 20143120 - Industrial stearic acid

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
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
Find deeper insights into current market developments
Discover vital success factors affecting the market

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
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

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