South-Eastern Asia: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in South-Eastern Asia

In 2021, the Southeast Asian market for lauric acid and other acids, their salts and esters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Lauric Acid And Other Acids, Their Salts And Esters in South-Eastern Asia

In value terms, production of lauric acid and other acids, their salts and esters dropped to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports in South-Eastern Asia

In 2021, overseas shipments of lauric acid and other acids, their salts and esters increased by 7% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 46%. Over the period under review, the exports of hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. In general, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia was the main exporter of lauric acid and other acids, their salts and esters in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. 60% of total exports in 2021. It was distantly followed by Malaysia (X tons), creating a 38% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +21.7%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +20.2%, 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

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 58% against the previous year. In general, the export price, however, continues to indicate a slight decline. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports in South-Eastern Asia

In 2021, the amount of lauric acid and other acids, their salts and esters imported in South-Eastern Asia skyrocketed to X tons, picking up by 79% on the previous year. Over the period under review, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. Overall, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines was the main importer of lauric acid and other acids, their salts and esters in South-Eastern Asia, with the volume of imports finishing at X tons, which was approx. 44% of total imports in 2021. It was distantly followed by Malaysia (X tons), Thailand (X tons), Singapore (X tons), Indonesia (X tons) and Vietnam (X tons), together mixing up a 56% share of total imports.

The Philippines was also the fastest-growing in terms of the lauric acid and other acids, their salts and esters imports, with a CAGR of +46.7% from 2012 to 2021. At the same time, Malaysia (+19.6%), Vietnam (+13.9%), Thailand (+3.5%) and Singapore (+3.0%) displayed positive paces of growth. By contrast, Indonesia (-2.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines and Malaysia increased by +40 and +8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported lauric acid and other acids, their salts and esters in South-Eastern Asia, comprising 35% of total imports. The second position in the ranking was held by Singapore ($X), with a 17% share of total imports. It was followed by Thailand, with a 17% share.

In the Philippines, imports of lauric acid and other acids, their salts and esters expanded at an average annual rate of +41.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+3.4% per year) and Thailand (+2.2% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by 12%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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