ASEAN: Tall Oil Market 2024

Tall Oil Market Size in ASEAN

The ASEAN tall oil market skyrocketed to $X in 2023, growing by X% against the previous year. Overall, consumption enjoyed a prominent increase. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Tall Oil Production in ASEAN

In value terms, tall oil production surged to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a perceptible expansion. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Tall Oil Exports

Exports in ASEAN

In 2023, after two years of decline, there was significant growth in overseas shipments of tall oil, when their volume increased by X% to X tons. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, tall oil exports skyrocketed to $X in 2023. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Malaysia (X tons), Singapore (X tons) and Thailand (X tons) was the key exporter of tall oil in ASEAN, comprising X% of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Malaysia ($X) emerged as the largest tall oil supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

In Malaysia, tall oil exports shrank by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Tall Oil Imports

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in supplies from abroad of tall oil, when their volume decreased by X% to X tons. Overall, imports saw a pronounced decrease. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, tall oil imports contracted remarkably to $X in 2023. In general, imports recorded a deep setback. The pace of growth appeared the most rapid in 2022 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Malaysia (X tons) represented the largest importer of tall oil, generating X% of total imports. It was distantly followed by Thailand (X tons), Indonesia (X tons) and Singapore (X tons), together making up a X% share of total imports. Vietnam (X tons) took a minor share of total imports.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia, Thailand, Indonesia and Vietnam increased by X, X, X and X percentage points, respectively.

In value terms, the largest tall oil importing markets in ASEAN were Malaysia ($X), Thailand ($X) and Indonesia ($X), with a combined X% share of total imports. Singapore and Vietnam lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Vietnam, with a CAGR of X%, saw the highest growth rate of 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 import price in ASEAN stood at $X per ton in 2023, growing by X% against the previous year. Overall, the import price, however, recorded a mild decline. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform