Report Update: May 1, 2024

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

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Industrial Stearic Acid Price in Singapore - 2022

Industrial Stearic Acid Price in Singapore (CIF) - 2022

In September 2022, the average industrial stearic acid import price amounted to $1,820 per ton, falling by -20.3% against the previous month. Over the period under review, import price indicated a moderate expansion from September 2021 to September 2022: its price increased at an average monthly rate of +3.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, industrial stearic acid import price decreased by -32.1% against June 2022 indices. The growth pace was the most rapid in January 2022 when the average import price increased by 43% m-o-m. Over the period under review, average import prices hit record highs at $2,681 per ton in June 2022; however, from July 2022 to September 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In September 2022, the country with the highest price was Indonesia ($2,245 per ton), while the price for Malaysia amounted to $1,809 per ton.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.8%).

Industrial Stearic Acid Price in Singapore (FOB) - 2022

In 2022, the average industrial stearic acid export price amounted to $1,209 per ton, shrinking by -13.1% against the previous year. Over the period under review, the export price recorded a slight downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 48%. Over the period under review, the average export prices hit record highs at $1,445 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($1,549 per ton), while the average price for exports to Bangladesh ($714 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+48.9%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports in Singapore

In 2022, approx. 47K tons of industrial stearic acid were imported into Singapore; shrinking by -8.9% against the previous year. The total import volume increased at an average annual rate of +3.2% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 22%. As a result, imports attained the peak of 51K tons, and then declined in the following year.

In value terms, industrial stearic acid imports reduced markedly to $48M in 2022. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2021 with an increase of 76%. As a result, imports reached the peak of $61M, and then declined notably in the following year.

Import of Industrial Stearic Acid in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	28.1	33.2	59.6	46.4	18.2%
Others	0.8	1.4	1.5	1.5	23.3%
Total	28.9	34.6	61.0	47.8	18.3%

Top Suppliers of Industrial Stearic Acid to Singapore in 2022:

Malaysia (45.6K tons)

Industrial Stearic Acid Exports in Singapore

In 2022, overseas shipments of industrial stearic acid decreased by -13.7% to 951 tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 51% against the previous year.

In value terms, industrial stearic acid exports contracted notably to $1.1M in 2022. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 100%. As a result, the exports attained the peak of $1.5M, and then contracted significantly in the following year.

Export of Industrial Stearic Acid in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	162	181	70.8	250	15.6%
Nigeria	42.1	76.0	171	165	57.7%
Bangladesh	67.9	97.4	174	133	25.1%
Guatemala	18.2	56.5	110	91.2	71.1%
Taiwan (Chinese)	17.6	32.4	74.4	73.3	60.9%
Israel	39.5	28.6	43.6	59.9	14.9%
Iran	25.0	37.4	69.6	55.7	30.6%
Thailand	21.7	32.5	60.5	48.3	30.6%
Senegal	N/A	41.6	N/A	N/A	0%
Cambodia	N/A	N/A	151	N/A	0%
Others	88.0	183	608	273	45.8%
Total	482	767	1,532	1,150	33.6%

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

Bangladesh (187.1 tons)
Malaysia (161.1 tons)
Nigeria (150.4 tons)
Guatemala (86.6 tons)
Taiwan (Chinese) (76.0 tons)
Iran (63.6 tons)
Thailand (53.1 tons)
Israel (49.2 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the industrial stearic acid market in Singapore. 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:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
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