Iran: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Iran

The Iranian industrial stearic acid market declined to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a pronounced increase 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, consumption increased by X% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then contracted in the following year.

Industrial Stearic Acid Exports

Exports from Iran

In 2022, overseas shipments of industrial stearic acid increased by X% to X kg for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, faced a precipitous descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, industrial stearic acid exports reached $X in 2022. Over the period under review, exports, however, continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X kg) was the main destination for industrial stearic acid exports from Iran, accounting for a X% share of total exports. Moreover, industrial stearic acid exports to India exceeded the volume sent to the second major destination, Iraq (X kg), more than tenfold. The third position in this ranking was taken by Kazakhstan (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (X% per year) and Kazakhstan (X% per year).

In value terms, India ($X) remains the key foreign market for industrial stearic acid exports from Iran, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with an X% share of total exports. It was followed by Iraq, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Iraq (X% per year).

Export Prices by Country

In 2022, the average industrial stearic acid export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Azerbaijan ($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 Azerbaijan (X%), while the prices for the other major destinations experienced a decline.

Industrial Stearic Acid Imports

Imports into Iran

In 2022, supplies from abroad of industrial stearic acid increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated measured growth 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, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, industrial stearic acid imports dropped to $X in 2022. Over the period under review, total imports indicated a slight increase 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 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of industrial stearic acid to Iran, accounting for a X% share of total imports. Moreover, industrial stearic acid imports from Indonesia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. Malaysia (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: the United Arab Emirates (X% per year) and Malaysia (X% per year).

In value terms, the largest industrial stearic acid suppliers to Iran were Indonesia ($X), the United Arab Emirates ($X) and Malaysia ($X), together accounting for X% of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and the United Arab Emirates ($X per ton), while the price for China ($X per ton) and Ireland ($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 a decline.

Source: IndexBox Platform

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