South-Eastern Asia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in South-Eastern Asia

The Southeast Asian industrial stearic acid market soared to $X in 2021, jumping by 25% against the previous year. In general, consumption, however, recorded a mild contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in South-Eastern Asia

In value terms, industrial stearic acid production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. The growth pace was the most rapid in 2018 when the production volume increased by 10%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in South-Eastern Asia

After two years of decline, shipments abroad of industrial stearic acid increased by 19% to X tons in 2021. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid exports soared to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia was the major exporter of industrial stearic acid in South-Eastern Asia, with the volume of exports recording X tons, which was near 67% of total exports in 2021. It was distantly followed by Malaysia (X tons), making up a 33% share of total exports.

Indonesia was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of +5.7% from 2012 to 2021. Malaysia experienced a relatively flat trend pattern. Indonesia (+12 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -11.8% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2021.

Indonesia, with a CAGR of +6.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, jumping by 41% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Indonesia amounted to $X per ton.

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

Industrial Stearic Acid Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of industrial stearic acid was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 23%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, industrial stearic acid imports soared to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of industrial stearic acid imports in 2021 were Singapore (X tons), Vietnam (X tons) and Thailand (X tons), together resulting at 88% of total import. It was distantly followed by Malaysia (X tons), comprising a 5.7% share of total imports. The following importers - the Philippines (X tons) and Indonesia (X tons) - each amounted to a 5.7% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +11.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid importing markets in South-Eastern Asia were Singapore ($X), Thailand ($X) and Vietnam ($X), together comprising 89% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, jumping by 38% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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