Eastern Asia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Eastern Asia

The East Asian industrial stearic acid market reduced to $X in 2022, stabilizing at the previous year. In general, consumption showed a perceptible reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Industrial Stearic Acid Production in Eastern Asia

In value terms, industrial stearic acid production shrank slightly to $X in 2022 estimated in export price. Overall, production showed a deep setback. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports in Eastern Asia

For the eleventh consecutive year, Eastern Asia recorded growth in overseas shipments of industrial stearic acid, which increased by X% to X tons in 2022. In general, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid exports surged to $X in 2022. Over the period under review, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. The following exporters - South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. By contrast, Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest industrial stearic acid supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, industrial stearic acid exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Industrial Stearic Acid Imports

Imports in Eastern Asia

In 2022, the amount of industrial stearic acid imported in Eastern Asia dropped slightly to X tons, with a decrease of X% on the previous year. 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 pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, industrial stearic acid imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed a notable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

China was the main importer of industrial stearic acid in Eastern Asia, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together mixing up a X% share of total imports.

China was also the fastest-growing in terms of the industrial stearic acid imports, with a CAGR of X% from 2012 to 2022. South Korea and Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported industrial stearic acid in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated tangible 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 import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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