Sri Lanka: 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 Sri Lanka

The Sri Lankan market for lauric acid and other acids, their salts and esters soared to $X in 2021, growing by 63% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a significant expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the immediate term.

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

Exports from Sri Lanka

In 2021, approx. X tons of lauric acid and other acids, their salts and esters were exported from Sri Lanka; picking up by 1,850% compared with 2020. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

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

Exports by Country

Finland (X tons), New Zealand (X tons) and China (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from Sri Lanka, with a combined 49% share of total exports. These countries were followed by Japan, the Philippines, Spain, the UK, Canada, Indonesia and Thailand, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +433.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), China ($X) and New Zealand ($X) constituted the largest markets for lauric acid and other acids, their salts and esters exported from Sri Lanka worldwide, with a combined 54% share of total exports. These countries were followed by Japan, Spain, the Philippines, the UK, Canada, Indonesia and Thailand, which together accounted for a further 45%.

The UK, with a CAGR of +689.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, growing by 88% against the previous year. Overall, the export price, however, continues to indicate a abrupt setback. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to Thailand ($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 the UK (+48.0%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in purchases abroad of lauric acid and other acids, their salts and esters, when their volume increased by 57% to X tons. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 385%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 277% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of lauric acid and other acids, their salts and esters to Sri Lanka, accounting for a 41% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled +62.6%.

In value terms, Indonesia ($X) and Malaysia ($X) were the largest lauric acid and other acids, their salts and esters suppliers to Sri Lanka.

Indonesia, with a CAGR of +71.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average import price for lauric acid and other acids, their salts and esters amounted to $X per ton, increasing by 7.2% against the previous year. Overall, the import price, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 23%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the price for Indonesia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.8%).

Source: IndexBox Platform

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