Spain: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Spain

The Spanish market for palmitic acid, stearic acid, their salts and esters reduced dramatically to $X in 2021, which is down by -17.3% against the previous year. Overall, consumption showed a drastic downturn. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Spain

In value terms, production of palmitic acid, stearic acid, their salts and esters shrank to $X in 2021 estimated in export price. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 9.9%. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Spain

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters increased by 23% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a pronounced descent. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Spain, together accounting for 60% of total exports. Portugal, Austria, Poland, the United States, the UK, San Marino, China, Belgium and Switzerland lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +45.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from Spain were Germany ($X), Italy ($X) and France ($X), together accounting for 58% of total exports. These countries were followed by Portugal, Austria, China, Poland, the United States, the UK, San Marino, Belgium and Switzerland, which together accounted for a further 26%.

Among the main countries of destination, China, with a CAGR of +54.4%, saw the highest growth rate of 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

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, picking up by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Italy ($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 Switzerland (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Spain

For the eighth year in a row, Spain recorded growth in supplies from abroad of palmitic acid, stearic acid, their salts and esters, which increased by 3.6% to X tons in 2021. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 53% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Spain, with a 44% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.0% per year) and Malaysia (+6.7% per year).

In value terms, Indonesia ($X), Germany ($X) and Italy ($X) were the largest palmitic acid, stearic acid, their salts and esters suppliers to Spain, with a combined 71% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of +30.2%, saw the highest growth rate of 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 average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, growing by 42% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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