Asia: Market for Industrial Tall Oil Fatty Acids 2023

Market Size for Industrial Tall Oil Fatty Acids in Asia

In 2022, the Asian tall oil fatty acids market increased by X% to $X, rising for the third year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Industrial Tall Oil Fatty Acids in Asia

In value terms, tall oil fatty acids production skyrocketed to $X in 2022 estimated in export price. Overall, production saw a noticeable descent. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Industrial Tall Oil Fatty Acids

Exports in Asia

For the fifth year in a row, Asia recorded decline in overseas shipments of industrial tall oil fatty acids, which decreased by X% to X tons in 2022. Overall, exports recorded a deep contraction. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tall oil fatty acids exports soared to $X in 2022. In general, exports recorded a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the largest exporter of industrial tall oil fatty acids in Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Singapore (X tons), Japan (X tons), China (X tons) and Saudi Arabia (X tons), together achieving a X% share of total exports. The following exporters - South Korea (X tons) and Kazakhstan (X tons) - each accounted for a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the industrial tall oil fatty acids exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%), Kazakhstan (X%), China (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Japan (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Singapore, China, South Korea and Kazakhstan increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Singapore ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, 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 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price enjoyed resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

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

Imports of Industrial Tall Oil Fatty Acids

Imports in Asia

After two years of growth, overseas purchases of industrial tall oil fatty acids decreased by X% to X tons in 2022. Total imports indicated slight growth from 2012 to 2022: its volume 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. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, tall oil fatty acids imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons), the United Arab Emirates (X tons), Turkey (X tons), South Korea (X tons), Saudi Arabia (X tons), Japan (X tons), India (X tons), Malaysia (X tons) and China (X tons) represented the largest importer of industrial tall oil fatty acids in Asia, achieving X% of total import.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the United Arab Emirates ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, the United Arab Emirates, 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

In 2022, the import price in Asia amounted to $X per ton, surging by X% against the previous year. Import price indicated a slight 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, tall oil fatty acids import price increased by X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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