Turkey: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Turkey

In 2022, the Turkish industrial stearic acid market increased by X% to $X, rising for the third year in a row after seven years of decline. In general, the total consumption indicated a mild expansion 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 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Industrial Stearic Acid Production in Turkey

In value terms, industrial stearic acid production reduced markedly to $X in 2022 estimated in export price. In general, production showed a sharp reduction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from Turkey

In 2022, after two years of decline, there was significant growth in overseas shipments of industrial stearic acid, when their volume increased by X% to X tons. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, industrial stearic acid exports surged to $X in 2022. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Russia (X tons), Algeria (X tons) and Uzbekistan (X tons) were the main destinations of industrial stearic acid exports from Turkey, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) emerged as the key foreign market for industrial stearic acid exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Algeria ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated perceptible growth 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 average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Ukraine ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Turkey

In 2022, after two years of growth, there was significant decline in supplies from abroad of industrial stearic acid, when their volume decreased by X% to X tons. 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 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, industrial stearic acid imports soared to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. 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 reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Italy (X tons) were the main suppliers of industrial stearic acid imports to Turkey, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Indonesia ($X) and Italy ($X) constituted the largest industrial stearic acid suppliers to Turkey, with a combined X% share of total imports.

Malaysia, 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

In 2022, the average industrial stearic acid import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw measured growth. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Indonesia ($X per ton) was 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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