China: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in China

In 2022, the Chinese industrial monocarboxylic fatty acids market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Industrial monocarboxylic fatty acids consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Industrial Monocarboxylic Fatty Acids in China

In value terms, industrial monocarboxylic fatty acids production fell slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from China

In 2022, overseas shipments of industrial monocarboxylic fatty acids decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2022. In general, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for industrial monocarboxylic fatty acids exports from China, accounting for a X% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Germany (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

In value terms, South Korea ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from China, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

Export Prices by Country

The average industrial monocarboxylic fatty acids export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a pronounced downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to South Korea ($X 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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into China

In 2022, imports of industrial monocarboxylic fatty acids into China skyrocketed to X tons, with an increase of X% on 2021 figures. Over the period under review, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids imports skyrocketed to $X in 2022. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of industrial monocarboxylic fatty acids to China, with a X% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The Philippines (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to China, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a moderate expansion 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 monocarboxylic fatty acids import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Indonesia ($X per ton), while the price for the Philippines ($X per ton) and Thailand ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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