China: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in China

In 2023, after three years of growth, there was significant decline in the Chinese industrial stearic acid market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2022, and then declined markedly in the following year.

Industrial Stearic Acid Production in China

In value terms, industrial stearic acid production declined significantly to $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2022, and then declined remarkably in the following year.

Industrial Stearic Acid Exports

Exports from China

For the ninth consecutive year, China recorded growth in shipments abroad of industrial stearic acid, which increased by X% to X tons in 2023. In general, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. The exports peaked in 2023 and are likely to continue growth in years to come.

In value terms, industrial stearic acid exports reduced rapidly to $X in 2023. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Russia (X tons), Mexico (X tons) and Thailand (X tons) were the main destinations of industrial stearic acid exports from China, with a combined X% share of total exports. Vietnam, Pakistan, Japan, Iran, Peru, Nigeria, Uzbekistan, Lithuania, the Philippines and South Korea lagged somewhat behind, together comprising a further X%.

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

In value terms, Russia ($X), Mexico ($X) and Thailand ($X) appeared to be the largest markets for industrial stearic acid exported from China worldwide, with a combined X% share of total exports. Vietnam, Japan, Pakistan, Nigeria, Iran, Peru, Uzbekistan, the Philippines, South Korea and Lithuania lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Lithuania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average industrial stearic acid export price amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Lithuania ($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 Nigeria (X%), while the prices for the other major destinations experienced a decline.

Industrial Stearic Acid Imports

Imports into China

For the fourth year in a row, China recorded growth in overseas purchases of industrial stearic acid, which increased by X% to X tons in 2023. Over the period under review, total imports indicated noticeable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see gradual growth in years to come.

In value terms, industrial stearic acid imports reduced notably to $X in 2023. In general, imports showed moderate growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then reduced sharply in the following year.

Imports by Country

In 2023, Indonesia (X tons) was the main industrial stearic acid supplier to China, accounting for a X% share of total imports. Moreover, industrial stearic acid imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from Indonesia totaled X%.

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

From 2012 to 2023, the average annual growth rate of value from Indonesia stood at X%.

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price showed a mild shrinkage. 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 hit record highs at $X per ton in 2022, and then fell dramatically in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%).

Source: IndexBox Platform