United Arab Emirates: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in the United Arab Emirates

The market for palmitic acid, stearic acid, their salts and esters in the United Arab Emirates declined dramatically to $X in 2021, waning by -92.7% 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). Overall, consumption saw a dramatic decline. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

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

Exports from the United Arab Emirates

Exports of palmitic acid, stearic acid, their salts and esters from the United Arab Emirates soared to X tons in 2021, increasing by 20% on the previous year. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 607% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2015 when exports increased by 467%. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Iran (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from the United Arab Emirates, with a 0.8% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Iran exceeded the volume sent to the second major destination, Pakistan (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with a 0.3% share.

From 2012 to 2021, the average annual growth rate of volume to Iran amounted to -51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+139.9% per year) and Malaysia (0.0% per year).

In value terms, Iran ($X), Algeria ($X) and Oman ($X) constituted the largest markets for palmitic acid, stearic acid, their salts and esters exported from the United Arab Emirates worldwide, together comprising 3.4% of total exports. These countries were followed by Saudi Arabia, Malaysia, Pakistan, South Africa, Kuwait, China, Egypt, India, Ghana and Ethiopia, which together accounted for a further 3.9%.

Ethiopia, with a CAGR of +592.6%, recorded the highest growth rate of the value of exports, among 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 palmitic acid, stearic acid, their salts and esters amounted to $X per ton, almost unchanged from the previous year. Overall, the export price saw a modest expansion. The most prominent rate of growth was recorded in 2020 an increase of 69%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Pakistan ($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 Egypt (+89.0%), 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 the United Arab Emirates

In 2021, the amount of palmitic acid, stearic acid, their salts and esters imported into the United Arab Emirates declined rapidly to X tons, which is down by -46.3% compared with the previous year. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 81%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters fell markedly to $X in 2021. Over the period under review, imports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2013 when imports increased by 64%. Over the period under review, imports of attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), Singapore (X tons) and Malaysia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to the United Arab Emirates.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +29.3%), while purchases 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 Arab Emirates were India ($X), Singapore ($X) and Malaysia ($X).

Singapore, with a CAGR of +31.1%, recorded the highest growth rate of 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

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, surging by 10% against the previous year. In general, the import price, however, showed a slight shrinkage. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Singapore ($X per ton) and China ($X per ton), while the price for Turkey ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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