Southern Asia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Southern Asia

In 2022, after three years of decline, there was significant growth in the South Asian industrial stearic acid market, when its value increased by X% to $X. Overall, consumption, however, showed a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in Southern Asia

In value terms, industrial stearic acid production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports in Southern Asia

In 2022, approx. X tons of industrial stearic acid were exported in Southern Asia; standing approx. at the previous year. Overall, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial stearic acid exports soared to $X in 2022. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

India represented the major exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Nepal (X tons), creating an X% share of total exports. Pakistan (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial stearic acid exports from India stood at X%. At the same time, Nepal (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. Pakistan experienced a relatively flat trend pattern. Nepal (X p.p.) and Pakistan (X p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest industrial stearic acid supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Nepal ($X), with a X% share of total exports.

In India, industrial stearic acid exports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nepal (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price saw prominent growth. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Industrial Stearic Acid Imports

Imports in Southern Asia

In 2022, approx. X tons of industrial stearic acid were imported in Southern Asia; with a decrease of X% compared with 2021. In general, imports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial stearic acid imports dropped to $X in 2022. Overall, imports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Bangladesh (X tons) and India (X tons) dominates imports structure, together achieving X% of total imports. It was distantly followed by Sri Lanka (X tons), constituting a X% share of total imports. Pakistan (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sri Lanka (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid importing markets in Southern Asia were India ($X), Bangladesh ($X) and Sri Lanka ($X), together comprising X% of total imports.

Sri Lanka, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price recorded mild growth. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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