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

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

After two years of growth, the UK market for palmitic acid, stearic acid, their salts and esters decreased by X% to $X in 2023. Over the period under review, consumption saw a pronounced decrease. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in the UK

In value terms, production of palmitic acid, stearic acid, their salts and esters shrank slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production of growth remained at a lower figure.

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

Exports from the UK

In 2023, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by X% to X tons for the first time since 2017, thus ending a five-year declining trend. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports of hit record highs at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters rose sharply to $X in 2023. Overall, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from the UK, accounting for a X% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Italy exceeded the volume sent to the second major destination, Turkey (X tons), threefold. Belgium (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Belgium (X% per year).

In value terms, Italy ($X), Belgium ($X) and Germany ($X) appeared to be the largest markets for palmitic acid, stearic acid, their salts and esters exported from the UK worldwide, together comprising X% of total exports. Ireland, Sweden, the Netherlands, Turkey, Spain, France, Poland, the United States and Russia lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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, waning by X% against the previous year. Overall, the export price recorded a pronounced descent. The growth pace was the most rapid in 2022 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Turkey ($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 Belgium (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 the UK

Imports of palmitic acid, stearic acid, their salts and esters into the UK fell significantly to X tons in 2023, dropping by X% against 2022. Over the period under review, imports saw a pronounced reduction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters contracted rapidly to $X in 2023. In general, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Germany (X tons) and Indonesia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to the UK, with a combined X% share of total imports. Italy, Sweden, Spain, Turkey and the Netherlands lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest palmitic acid, stearic acid, their salts and esters suppliers to the UK were Malaysia ($X), Germany ($X) and Italy ($X), with a combined X% share of total imports. Indonesia, Spain, the Netherlands, Sweden and Turkey lagged somewhat behind, together comprising a further X%.

Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2023, declining 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%. The import price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform