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

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in the UK

After three years of decline, the UK market for palmitic acid, stearic acid, their salts and esters increased by 15% to $X in 2021. In general, consumption, however, saw a slight downturn. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in the UK

In value terms, production of palmitic acid, stearic acid, their salts and esters totaled $X in 2021 estimated in export price. Overall, production, however, showed a mild setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16%. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

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

Exports from the UK

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters decreased by -2.7% to X tons, falling for the third consecutive year after four years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 16% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters expanded rapidly to $X in 2021. Overall, exports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Russia (X tons) and Germany (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from the UK, with a combined 54% share of total exports. The United States, the Netherlands, France, Ireland, Sweden, Turkey, Spain, Poland, the United Arab Emirates and Italy lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +46.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from the UK were Belgium ($X), the United States ($X) and Germany ($X), together comprising 42% of total exports.

Among the main countries of destination, the United States, with a CAGR of +33.2%, recorded the highest rates of growth with regard to the value of exports, 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, growing by 12% against the previous year. Overall, the export price, however, saw a mild contraction. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($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 France (+2.8%), 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 UK

For the third consecutive year, the UK recorded decline in overseas purchases of palmitic acid, stearic acid, their salts and esters, which decreased by -1.6% to X tons in 2021. Over the period under review, imports showed a mild decrease. The pace of growth was the most pronounced in 2015 when imports increased by 12%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. Overall, imports saw a pronounced decrease. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to the UK, together accounting for 55% of total imports. Malaysia, Indonesia, Ireland, Belgium and Spain lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +103.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the Netherlands ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to the UK, together accounting for 47% of total imports. Malaysia, Ireland, Indonesia, Spain and Belgium lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, Ireland, with a CAGR of +87.6%, saw the highest growth rate of the value of imports, 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, jumping by 20% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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