Ukraine: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Ukraine

The Ukrainian industrial stearic acid market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, recorded a noticeable decline. Industrial stearic acid consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Exports

Exports from Ukraine

In 2021, approx. X tons of industrial stearic acid were exported from Ukraine; with an increase of 182% on the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 535%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial stearic acid exports surged to $X in 2021. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 307% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for industrial stearic acid exports from Ukraine, with a 70% share of total exports. Moreover, industrial stearic acid exports to Belarus exceeded the volume sent to the second major destination, Russia (X tons), threefold. Serbia (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume to Belarus amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and Serbia (-6.6% per year).

In value terms, Belarus ($X) emerged as the key foreign market for industrial stearic acid exports from Ukraine, comprising 63% of total exports. The second position in the ranking was held by Russia ($X), with a 21% share of total exports. It was followed by Serbia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus stood at +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and Serbia (+4.7% per year).

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, surging by 34% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 51% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Moldova ($X per ton), while the average price for exports to Belarus ($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 Moldova (+23.5%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports

Imports into Ukraine

In 2021, the amount of industrial stearic acid imported into Ukraine skyrocketed to X tons, with an increase of 23% on 2020. Overall, imports, however, showed a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by 31%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. In general, imports, however, recorded a noticeable curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest industrial stearic acid supplier to Ukraine, accounting for a 31% share of total imports. Moreover, industrial stearic acid imports from Indonesia exceeded the figures recorded by the second-largest supplier, Sweden (X tons), fourfold. The third position in this ranking was taken by Lithuania (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia stood at -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-14.9% per year) and Lithuania (-15.9% per year).

In value terms, Indonesia ($X) constituted the largest supplier of industrial stearic acid to Ukraine, comprising 34% of total imports. The second position in the ranking was taken by Sweden ($X), with a 7.6% share of total imports. It was followed by Lithuania, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia stood at -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-15.2% per year) and Lithuania (-15.6% per year).

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, with an increase of 57% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Sweden ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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