Sri Lanka: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Sri Lanka

In 2023, after three years of growth, there was significant decline in the Sri Lankan market for lauric acid and other acids, their salts and esters, when its value decreased by X% to $X. Over the period under review, consumption, however, enjoyed significant growth. Over the period under review, the market hit record highs at $X in 2022, and then shrank rapidly in the following year.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Sri Lanka

In 2023, approx. X tons of lauric acid and other acids, their salts and esters were exported from Sri Lanka; growing by X% compared with 2022 figures. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2023. In general, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland (X tons), Japan (X tons) and Spain (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from Sri Lanka, with a combined X% share of total exports. Canada, the UK, New Zealand, Taiwan (Chinese), Maldives, Malaysia, Indonesia, India and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lauric acid and other acids, their salts and esters exported from Sri Lanka were Finland ($X), Japan ($X) and Canada ($X), with a combined X% share of total exports.

Among the main countries of destination, Canada, with a CAGR of X.3%, recorded 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 export price for lauric acid and other acids, their salts and esters amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Sri Lanka

In 2023, overseas purchases of lauric acid and other acids, their salts and esters decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports of reached the maximum at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters shrank markedly to $X in 2023. In general, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Indonesia (X tons) constituted the largest supplier of lauric acid and other acids, their salts and esters to Sri Lanka, with a X% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and India (X% per year).

In value terms, the largest lauric acid and other acids, their salts and esters suppliers to Sri Lanka were Malaysia ($X), Indonesia ($X) and the Philippines ($X), with a combined X% share of total imports.

In terms of the main suppliers, the Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 lauric acid and other acids, their salts and esters stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, recorded a measured increase. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

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

Source: IndexBox Platform