United Arab Emirates: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in the United Arab Emirates

The industrial stearic acid market in the United Arab Emirates contracted markedly to $X in 2021, which is down by -94.2% against the previous year. Over the period under review, consumption showed a precipitous shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in the United Arab Emirates

In value terms, industrial stearic acid production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when the production volume increased by 58% against the previous year. Industrial stearic acid production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from the United Arab Emirates

In 2021, the amount of industrial stearic acid exported from the United Arab Emirates surged to X tons, growing by 61% against the previous year. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,549%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, industrial stearic acid exports surged to $X in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,009%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Jordan (X tons) was the main destination for industrial stearic acid exports from the United Arab Emirates, accounting for a 33% share of total exports. Moreover, industrial stearic acid exports to Jordan exceeded the volume sent to the second major destination, Afghanistan (X tons), twofold. Colombia (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (-58.5% per year) and Colombia (0.0% per year).

In value terms, Jordan ($X) emerged as the key foreign market for industrial stearic acid exports from the United Arab Emirates, comprising 32% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 12% share of total exports. It was followed by Colombia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (-67.9% per year) and Colombia (0.0% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, dropping by -9.7% against the previous year. Over the period under review, the export price recorded a abrupt setback. The growth pace was the most rapid in 2014 an increase of 12% against the previous year. The export price peaked 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 India ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Indonesia (+12.4%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports

Imports into the United Arab Emirates

For the fifth consecutive year, the United Arab Emirates recorded growth in overseas purchases of industrial stearic acid, which increased by 12% to X tons in 2021. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 145% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, industrial stearic acid imports expanded notably to $X in 2021. Over the period under review, imports posted a strong expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 97%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

India (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of industrial stearic acid imports to the United Arab Emirates, with a combined 34% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +19.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X), Malaysia ($X) and Indonesia ($X) constituted the largest industrial stearic acid suppliers to the United Arab Emirates, together accounting for 40% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +17.5%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, reducing by -2.1% against the previous year. In general, the import price saw a deep setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 14% against the previous year. 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.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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