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

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

In 2021, the Uruguayan market for palmitic acid, stearic acid, their salts and esters increased by 0.9% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

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

Exports from Uruguay

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters increased by 13% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 605%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of palmitic acid, stearic acid, their salts and esters amounted to $X in 2021. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 369% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Bolivia (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Uruguay, with a 89% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Bolivia exceeded the volume sent to the second major destination, Free Zones (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Bolivia totaled +42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (+84.4% per year) and Argentina (+29.2% per year).

In value terms, Free Zones ($X), Bolivia ($X) and Argentina ($X) appeared to be the largest markets for palmitic acid, stearic acid, their salts and esters exported from Uruguay worldwide.

In terms of the main countries of destination, Free Zones, with a CAGR of +101.9%, saw 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

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, remaining constant against the previous year. In general, the export price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 an increase of 156%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Bolivia ($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 Argentina (+0.9%), while the prices for the other major destinations experienced a decline.

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

Imports into Uruguay

Imports of palmitic acid, stearic acid, their salts and esters into Uruguay contracted to X tons in 2021, declining by -14.4% against the previous year. In general, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2020 when imports increased by 59%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters rose remarkably to $X in 2021. Overall, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 50%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Argentina (X tons) and Malaysia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Uruguay, with a combined 79% share of total imports. Brazil and Spain lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +28.7%), while imports 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 Uruguay were China ($X), Argentina ($X) and Malaysia ($X), with a combined 70% share of total imports. These countries were followed by Brazil and Spain, which together accounted for a further 20%.

In terms of the main suppliers, Spain, with a CAGR of +32.2%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, increasing by 23% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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