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

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

After five years of growth, the Chinese market for palmitic acid, stearic acid, their salts and esters decreased by X% to $X in 2023. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2022, and then contracted in the following year.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in China

In value terms, production of palmitic acid, stearic acid, their salts and esters amounted to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production of hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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

Exports from China

In 2023, shipments abroad of palmitic acid, stearic acid, their salts and esters increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters contracted modestly to $X in 2023. Overall, exports, however, recorded a noticeable decline. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Japan (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from China, together comprising X% of total exports. Indonesia, Russia, Egypt, Nigeria, South Korea, Mexico, Bangladesh, India, Uzbekistan and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from China were Thailand ($X), Vietnam ($X) and Japan ($X), together accounting for X% of total exports. Russia, Indonesia, South Korea, Nigeria, Mexico, the United Arab Emirates, Egypt, Bangladesh, India and Uzbekistan lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 2023, falling by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The export price peaked at $X per ton in 2022, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

In 2023, after three years of growth, there was significant decline in purchases abroad of palmitic acid, stearic acid, their salts and esters, when their volume decreased by X% to X tons. Over the period under review, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters dropped remarkably to $X in 2023. Overall, imports, however, showed temperate growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then fell significantly in the following year.

Imports by Country

In 2023, Indonesia (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to China, with a X% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms 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 Taiwan (Chinese) (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to China, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price showed a perceptible setback. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform