Palmitic acid, stearic acid, their salts and esters market in Spain

Earlier Report Observations

The market for palmitic acid, stearic acid, their salts and esters in Spain expanded in 2019, with market size rising to 56.8 million USD. This growth coincided with Spain being one of the fastest-growing importers of these products, indicating heightened domestic demand. The following year, the COVID-19 pandemic affected global trade and consumption patterns, contributing to a market contraction to 52.1 million USD in 2020, even as demand for stearic acid in cleaning and personal care products increased.

Market volume continued to decline in 2021, falling to 41.7 million USD. A recovery occurred in 2022, when the market size reached 49.7 million USD. This upturn was supported by regulatory developments in the European Union, where Spain's food safety agency participated in revising maximum contaminant levels for refined vegetable oils, impacting the production and commercialization of palm and stearic acid derivatives.

After the 2022 rebound, the market shrank again to 43.2 million USD in 2023 and 39.4 million USD in 2024. During this period, global demand for stearic acid remained strong, especially in the cosmetics sector, which is significant for Spain's industrial base, but local market conditions led to a downward trend.

Production palmitic acid, stearic acid, their salts and esters in Spain

In value, 2017-2020, K $ US

In 2020, Spain's production of palmitic acid, stearic acid, their salts and esters was valued at 54 258 thousand US dollars, marking a 6.4% decrease from the previous year. Over the period from 2017 to 2020, production declined by 5.6%, with an average annual decrease of 1.9%. The lowest value was recorded in 2018 at 52 678 thousand US dollars, while the highest was in 2019 at 57 995 thousand US dollars. The most significant drop occurred in 2018 with an 8.4% decrease, whereas the largest increase was in 2019 with a 10.1% rise.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, t

In 2020, Spain produced 27 526 tonnes of palmitic acid, stearic acid, their salts and esters, representing an 11.8% decline compared to the prior year. From 2017 to 2020, production fell by 4.7%, translating to an average annual reduction of 1.6%. The lowest output was in 2018 at 25 918 tonnes, while the peak was in 2019 at 31 208 tonnes. The most substantial increase was recorded in 2019 with a 20.4% growth.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports palmitic acid, stearic acid, their salts and esters from Spain

Exports in kind, t

Exports of palmitic acid, stearic acid, their salts and esters from Spain declined for the second consecutive year. In 2020, exports reached 13 642 tonnes, showing a slight year-over-year drop of 1.3%. Between 2017 and 2020, exports decreased by 6.6%, with an average annual decline of 2.3%. The highest export volume was in 2018 at 14 718 tonnes. The largest decrease occurred in 2019 with a 6.1% fall, while the biggest increase was in 2018 with a 0.8% rise.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, the three largest markets for Spain's exports in kind were Italy, Germany, and France, which together accounted for 54.1% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

After a two-year decline, exports of palmitic acid, stearic acid, their salts and esters from Spain increased in 2020. Spain exported 24 995 thousand US dollars worth of these products, reflecting a moderate year-over-year rise of 6.8%. Over the 2017-2020 period, exports decreased by 9.8%, with an average annual decline of 3.4%. The lowest value was recorded in 2019 at 23 411 thousand US dollars, and the most significant drop occurred that same year with a 14.8% decrease.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

Between 2017 and 2020, Germany, Italy, and France were the main markets for Spain's exports in value terms, accounting for 21.1%, 17.8%, and 14.3% of total exports, respectively. Together, these three countries represented 53.1% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports palmitic acid, stearic acid, their salts and esters to Spain

Imports in kind, t

Imports of palmitic acid, stearic acid, their salts and esters into Spain increased for the third consecutive year. In 2020, Spain imported approximately 16 569 tonnes, showing no material difference compared to 2019. From 2017 to 2020, imports grew by 57.6%, with an average annual increase of 16.4%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

Throughout 2017-2020, Indonesia, Malaysia, and Germany were the primary sources for Spain's imports in kind, accounting for 53.4%, 13.4%, and 10.7% of total imports, respectively. Collectively, these three markets made up 77.4% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

Imports of palmitic acid, stearic acid, their salts and esters into Spain rose for the third year in a row. In 2020, imports amounted to 22 805 thousand US dollars, which is 2.6% higher than in 2019. Between 2017 and 2020, imports increased by 28.5%, with an average annual growth rate of 8.7%.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

From 2017 to 2020, Indonesia, Germany, and Italy were the leading suppliers of palmitic acid, stearic acid, their salts and esters to Spain in value terms, representing 38.2%, 13.7%, and 12.9% of total imports, respectively. Together, these three countries accounted for 64.8% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020