Spain: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Spain

The Spanish industrial stearic acid market contracted modestly to $X in 2021, almost unchanged from the previous year. In general, consumption, however, continues to indicate a abrupt descent. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Industrial Stearic Acid Production in Spain

In value terms, industrial stearic acid production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 25%. Industrial stearic acid production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from Spain

In 2021, exports of industrial stearic acid from Spain declined slightly to X tons, shrinking by -1.8% compared with the year before. In general, total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.5% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, industrial stearic acid exports soared to $X in 2021. Over the period under review, total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 +47.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for industrial stearic acid exports from Spain, accounting for a 43% share of total exports. Moreover, industrial stearic acid exports to France exceeded the volume sent to the second major destination, Portugal (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+8.4% per year) and Italy (+14.0% per year).

In value terms, France ($X) remains the key foreign market for industrial stearic acid exports from Spain, comprising 41% of total exports. The second position in the ranking was taken by Portugal ($X), with a 17% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+9.0% per year) and Italy (+16.8% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, rising by 44% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Egypt ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Spain

In 2021, approx. X tons of industrial stearic acid were imported into Spain; falling by -7.9% against the year before. Over the period under review, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of 16%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Overall, imports continue to indicate a perceptible slump. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of industrial stearic acid imports to Spain, together accounting for 74% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +11.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest industrial stearic acid suppliers to Spain were Indonesia ($X), Germany ($X) and Belgium ($X), with a combined 74% share of total imports.

Germany, with a CAGR of +12.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2021, with an increase of 56% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid import price increased by +83.2% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Belgium ($X per ton) and Italy ($X per ton), while the price for the Netherlands ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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