United Kingdom: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in the UK

In 2021, the UK industrial stearic acid market decreased by -1.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Industrial stearic acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in the UK

In value terms, industrial stearic acid production shrank to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 26% against the previous year. As a result, production attained the peak level of $X, and then contracted in the following year.

Industrial Stearic Acid Exports

Exports from the UK

In 2021, the amount of industrial stearic acid exported from the UK dropped significantly to X tons, which is down by -25.6% against the previous year's figure. Overall, total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 114%. As a result, the exports reached the peak of X tons, and then fell notably in the following year.

In value terms, industrial stearic acid exports contracted sharply to $X in 2021. In general, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 461% against the previous year. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of industrial stearic acid exports from the UK, together comprising 69% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +105.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for industrial stearic acid exports from the UK, comprising 33% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports. It was followed by Ireland, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+28.2% per year) and Ireland (+4.3% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, waning by -38.8% against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 162%. As a result, the export price reached the peak level of $X per ton, and then fell sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Germany ($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 Gibraltar (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into the UK

In 2021, overseas purchases of industrial stearic acid were finally on the rise to reach X tons after six years of decline. Over the period under review, imports, however, continue to indicate a mild downturn. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial stearic acid imports soared to $X in 2021. In general, imports, however, recorded a mild slump. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Sweden (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of industrial stearic acid imports to the UK, with a combined 78% 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 Sweden (with a CAGR of +10.9%), while imports for the other leaders experienced a decline.

In value terms, Sweden ($X), Germany ($X) and Malaysia ($X) were the largest industrial stearic acid suppliers to the UK, together comprising 79% of total imports.

Among the main suppliers, Sweden, with a CAGR of +9.2%, saw the highest growth rate of 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, picking up by 47% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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