Indonesia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Indonesia

In 2022, after three years of decline, there was significant growth in the Indonesian industrial stearic acid market, when its value increased by X% to $X. Over the period under review, consumption continues to indicate a abrupt contraction. 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 Indonesia

In value terms, industrial stearic acid production amounted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Industrial Stearic Acid Exports

Exports from Indonesia

In 2022, overseas shipments of industrial stearic acid decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a temperate expansion from 2012 to 2022: its volume 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, industrial stearic acid exports expanded sharply to $X in 2022. Over the period under review, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for industrial stearic acid exports from Indonesia, accounting for a X% share of total exports. Moreover, industrial stearic acid exports to China exceeded the volume sent to the second major destination, South Korea (X tons), sevenfold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for industrial stearic acid exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

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

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a noticeable 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 stearic acid export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to the United States ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Indonesia

Industrial stearic acid imports into Indonesia fell dramatically to X tons in 2022, declining by X% against 2021 figures. Overall, imports recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial stearic acid imports fell to $X in 2022. Over the period under review, imports showed a slight decrease. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) was the main industrial stearic acid supplier to Indonesia, with a X% share of total imports. Moreover, industrial stearic acid imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of industrial stearic acid to Indonesia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average industrial stearic acid import price amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated a tangible 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 stearic acid import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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