ASEAN: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in ASEAN

After three years of growth, the ASEAN chemically modified oils market decreased by X% to $X in 2022. In general, consumption, however, recorded a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Chemically Modified Oils Production in ASEAN

In value terms, chemically modified oils production totaled $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Chemically Modified Oils Exports

Exports in ASEAN

In 2022, after six years of growth, there was decline in overseas shipments of animal or vegetable fats and oils chemically modified, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, chemically modified oils exports soared to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Malaysia represented the major exporting country with an export of around X tons, which recorded X% of total exports. Indonesia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%) and Thailand (X%). Singapore (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%), Indonesia (X%), Thailand (X%) and Singapore (X%) displayed positive paces of growth. Malaysia (X p.p.), Indonesia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest chemically modified oils supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports. It was followed by Vietnam, with an X% share.

In Malaysia, chemically modified oils exports increased 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: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price recorded a temperate increase. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Chemically Modified Oils Imports

Imports in ASEAN

After eight years of growth, overseas purchases of animal or vegetable fats and oils chemically modified decreased by X% to X tons in 2022. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted dramatically in the following year.

In value terms, chemically modified oils imports declined to $X in 2022. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Singapore represented the major importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Malaysia (X tons) and the Philippines (X tons), together achieving a X% share of total imports.

Singapore was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified imports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Malaysia increased by X and X percentage points, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in ASEAN, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports.

In Singapore, chemically modified oils imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a pronounced expansion 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, chemically modified oils import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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