Southern Asia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Southern Asia

The South Asian industrial stearic acid market reduced notably to $X in 2021, with a decrease of -18% against the previous year. Over the period under review, consumption showed a noticeable reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Industrial Stearic Acid Production in Southern Asia

In value terms, industrial stearic acid production fell significantly to $X in 2021 estimated in export price. Overall, production recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by 113% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in Southern Asia

In 2021, approx. X tons of industrial stearic acid were exported in Southern Asia; growing by 48% against the previous year. Over the period under review, exports, however, faced a deep contraction. The growth pace was the most rapid in 2015 with an increase of 459% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Overall, exports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 227%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

India was the largest exporting country with an export of about X tons, which reached 75% of total exports. It was distantly followed by Nepal (X tons), generating a 25% share of total exports.

Exports from India decreased at an average annual rate of -21.3% from 2012 to 2021. At the same time, Nepal (+25.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +25.9% from 2012-2021. From 2012 to 2021, the share of Nepal increased by +25 percentage points.

In value terms, India ($X) remains the largest industrial stearic acid supplier in Southern Asia, comprising 89% of total exports. The second position in the ranking was held by Nepal ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India stood at -18.2%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, picking up by 38% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid export price decreased by -0.3% against 2016 indices. The pace of growth appeared the most rapid in 2016 an increase of 75% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while Nepal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.9%).

Industrial Stearic Acid Imports

Imports in Southern Asia

In 2021, approx. X tons of industrial stearic acid were imported in Southern Asia; picking up by 28% compared with the previous year. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 314%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, industrial stearic acid imports soared to $X in 2021. Overall, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 237%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons) and Bangladesh (X tons) prevails in imports structure, together making up 87% of total imports. Sri Lanka (X tons) held a 6.4% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (5.2%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sri Lanka (with a CAGR of +8.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid importing markets in Southern Asia were India ($X), Bangladesh ($X) and Sri Lanka ($X), together accounting for 93% of total imports.

Sri Lanka, with a CAGR of +9.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 42% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 65%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Pakistan ($X per ton) and India ($X per ton), while Bangladesh ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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