Asia-Pacific: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Asia-Pacific

In 2022, the Asia-Pacific industrial stearic acid market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a perceptible decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Industrial Stearic Acid Production in Asia-Pacific

In value terms, industrial stearic acid production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in Asia-Pacific

In 2022, the amount of industrial stearic acid exported in Asia-Pacific contracted modestly to X tons, approximately mirroring the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then fell modestly in the following year.

In value terms, industrial stearic acid exports expanded sharply to $X in 2022. Over the period under review, exports, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Indonesia represented the largest exporter of industrial stearic acid in Asia-Pacific, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by Malaysia (X tons), mixing up a X% share of total exports. China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid supplying countries in Asia-Pacific were Indonesia ($X), Malaysia ($X) and China ($X), with a combined X% share of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest growth rate of 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 2022, the export price in Asia-Pacific amounted to $X per ton, rising by X% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial stearic acid export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports in Asia-Pacific

Industrial stearic acid imports shrank slightly to X tons in 2022, declining by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial stearic acid imports surged to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China represented the main importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by South Korea (X tons), Thailand (X tons), Japan (X tons), Singapore (X tons) and Malaysia (X tons), together creating a X% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. South Korea, Thailand and Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. China (X p.p.), Malaysia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Japan, South Korea and Singapore saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported industrial stearic acid in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

In China, industrial stearic acid imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial stearic acid import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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