Report Update: May 1, 2024

Latvia - Industrial Stearic Acid - Market Analysis, Forecast, Size, Trends And Insights

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Industrial Stearic Acid Price in Latvia - 2023

Industrial Stearic Acid Price in Latvia (CIF) - 2023

The average industrial stearic acid import price stood at $1,649 per ton in September 2023, stabilizing at the previous month. Overall, the import price, however, saw a perceptible contraction. The pace of growth was the most pronounced in March 2023 an increase of 29% m-o-m. Over the period under review, average import prices reached the maximum at $2,272 per ton in September 2022; however, from October 2022 to September 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the country with the highest price was Belgium ($1,727 per ton), while the price for Malaysia ($1,237 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Belgium (-0.1%), while the prices for the other major suppliers experienced a decline.

Industrial Stearic Acid Price in Latvia (FOB) - 2022

In 2022, the average industrial stearic acid export price amounted to $5,136 per ton, surging by 120% against the previous year. Overall, the export price continues to indicate prominent growth. The growth pace was the most rapid in 2015 an increase of 202%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($55,400 per ton), while the average price for exports to Estonia amounted to $2,501 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+58.1%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports in Latvia

After three years of growth, purchases abroad of industrial stearic acid decreased by -41.9% to 3.3K tons in 2022. Over the period under review, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. As a result, imports reached the peak of 5.7K tons, and then fell markedly in the following year.

In value terms, industrial stearic acid imports declined sharply to $7M in 2022. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 when imports increased by 124%. As a result, imports reached the peak of $8.9M, and then dropped markedly in the following year.

Import of Industrial Stearic Acid in Latvia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Sweden	2.3	2.8	6.2	6.6	42.1%
Belgium	1.0	0.9	2.3	0.3	-33.1%
Others	0.1	0.3	0.5	0.1	0.0%
Total	3.3	4.0	8.9	7.0	28.5%

Top Suppliers of Industrial Stearic Acid to Latvia in 2022:

Sweden (3.1K tons)
Belgium (0.1K tons)

Industrial Stearic Acid Exports in Latvia

In 2022, approx. 803 kg of industrial stearic acid were exported from Latvia; falling by -86.8% compared with the previous year's figure. In general, exports saw a dramatic descent. The growth pace was the most rapid in 2021 with an increase of 448%.

In value terms, industrial stearic acid exports reduced rapidly to $4.1K in 2022. Overall, exports faced a significant curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 770% against the previous year.

Export of Industrial Stearic Acid in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Russia	N/A	0.3	N/A	2.2	170.8%
Estonia	22.5	1.3	14.2	1.9	-56.1%
Denmark	1.1	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	23.5	1.6	14.2	4.1	-44.1%

Top Export Markets for Industrial Stearic Acid from Latvia in 2022:

Estonia (763.0 kg)
Russia (40.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the industrial stearic acid market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143120 - Industrial stearic acid

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023