Southern 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 Southern Asia

The South Asian market for lauric acid and other acids, their salts and esters soared to $X in 2021, growing by 17% against the previous year. The market value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some 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.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Southern Asia

In value terms, production of lauric acid and other acids, their salts and esters declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 25% against the previous year. Over the period under review, production of hit record highs at $X in 2020, and then dropped slightly in the following year.

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

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of lauric acid and other acids, their salts and esters, when their volume increased by 27% to X tons. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters surged to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 41%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

India (X tons) represented roughly 99% of total exports in 2021.

India was also the fastest-growing in terms of the lauric acid and other acids, their salts and esters exports, with a CAGR of +3.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest lauric acid and other acids, their salts and esters supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India totaled +8.5%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, with a decrease of -2.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The growth pace was the most rapid in 2018 when the export price increased by 21%. The level of export peaked at $X per ton in 2020, and then fell modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +4.6% per year.

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

Imports in Southern Asia

In 2021, approx. X tons of lauric acid and other acids, their salts and esters were imported in Southern Asia; with an increase of 9.8% on 2020 figures. In general, imports saw a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by 35%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. Over the period under review, imports showed strong growth. The growth pace was the most rapid in 2014 with an increase of 32% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

India dominates esters structure, reaching X tons, which was near 85% of total imports in 2021. Pakistan (X tons) held the second position in the ranking, followed by Sri Lanka (X tons). All these countries together took near 12% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lauric acid and other acids, their salts and esters imports into India stood at +11.5%. At the same time, Sri Lanka (+40.9%), Pakistan (+14.7%) and Bangladesh (+8.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +40.9% from 2012-2021. While the share of Sri Lanka (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported lauric acid and other acids, their salts and esters in Southern Asia, comprising 87% of total imports. The second position in the ranking was held by Pakistan ($X), with a 6.2% share of total imports. It was followed by Sri Lanka, with a 3.6% share.

In India, imports of lauric acid and other acids, their salts and esters increased at an average annual rate of +10.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+14.1% per year) and Sri Lanka (+37.7% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, jumping by 19% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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