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

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

The Thai market for palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021, growing by 26% 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 enjoyed buoyant growth. Consumption of peaked in 2021 and is expected to retain growth in years to come.

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

Exports from Thailand

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by 115% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a deep downturn. The exports peaked at X tons in 2017; however, from 2018 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. Over the period under review, exports, however, recorded a abrupt setback. Over the period under review, the exports of hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Thailand, together comprising 77% of total exports. Japan, Nigeria, Lao People's Democratic Republic, Vietnam and Cambodia lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +120.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Malaysia ($X) appeared to be the largest markets for palmitic acid, stearic acid, their salts and esters exported from Thailand worldwide, with a combined 69% share of total exports. Japan, Nigeria, Vietnam, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together accounting for a further 26%.

In terms of the main countries of destination, Japan, with a CAGR of +118.4%, 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, with a decrease of -12.7% against the previous year. In general, the export price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Cambodia (+7.0%), 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 Thailand

In 2021, the amount of palmitic acid, stearic acid, their salts and esters imported into Thailand expanded remarkably to X tons, picking up by 8.5% on the previous year's figure. In general, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by 25%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +39.2% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Thailand, with a combined 76% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +28.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Singapore ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Thailand, together comprising 71% of total imports.

Among the main suppliers, China, with a CAGR of +18.4%, recorded the highest rates of growth with regard to 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

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, picking up by 26% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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