U.S.: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in the U.S.

In 2021, the U.S. market for palmitic acid, stearic acid, their salts and esters decreased by -2.8% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then declined slightly in the following year.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in the U.S.

In value terms, production of palmitic acid, stearic acid, their salts and esters reduced to $X in 2021. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports from the U.S.

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters rose significantly to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 9.5% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Canada (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from the United States, accounting for a 54% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Canada exceeded the volume sent to the second major destination, China (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.3% per year) and the Netherlands (+56.5% per year).

In value terms, Canada ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from the United States, comprising 40% of total exports. The second position in the ranking was taken by China ($X), with an 11% share of total exports. It was followed by Mexico, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-1.5% per year) and Mexico (-0.1% per year).

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, reducing by -10.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 9.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the Netherlands ($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 China (+1.9%), while the prices for the other major destinations experienced a decline.

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

Imports into the U.S.

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into the United States; rising by 2% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 24%. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Singapore (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to the United States, together comprising 71% of total imports. These countries were followed by Italy, Canada, Turkey, India and Mexico, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +24.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest palmitic acid, stearic acid, their salts and esters suppliers to the United States were Malaysia ($X), Indonesia ($X) and Singapore ($X), together comprising 61% of total imports. Italy, Canada, India, Turkey and Mexico lagged somewhat behind, together accounting for a further 22%.

Italy, with a CAGR of +22.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, with an increase of 33% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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