Asia-Pacific: Linseed Oil Market 2024

Linseed Oil Market Size in Asia-Pacific

The Asia-Pacific linseed oil market fell to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Asia-Pacific

In value terms, linseed oil production totaled $X in 2022 estimated in export price. The total production indicated a moderate 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 increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Linseed Oil Exports

Exports in Asia-Pacific

In 2022, overseas shipments of linseed oil were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, linseed oil exports surged to $X in 2022. Total exports indicated a moderate 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China represented the key exporting country with an export of around X tons, which resulted at X% of total exports. Malaysia (X tons) held the second position in the ranking, distantly followed by Bangladesh (X tons), Indonesia (X tons), the Philippines (X tons), India (X tons) and New Zealand (X tons). All these countries together held near X% share of total exports.

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

In value terms, China ($X) remains the largest linseed oil supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with an X% share of total exports. It was followed by New Zealand, with an X% share.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (X% per year) and New Zealand (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated tangible growth 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, linseed oil export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

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

Linseed Oil Imports

Imports in Asia-Pacific

In 2022, the amount of linseed oil imported in Asia-Pacific shrank notably to X tons, declining by X% compared with the previous year. In general, imports recorded a mild slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports declined dramatically to $X in 2022. Total imports indicated a modest 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X tons) represented the major importer of linseed oil, generating X% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons), Fiji (X tons) and India (X tons), together creating a X% share of total imports. The following importers - Indonesia (X tons) and Australia (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to linseed oil imports into China stood at X%. At the same time, Fiji (X%), Japan (X%) and Australia (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, India (X%), Indonesia (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of Japan (X p.p.) and Fiji (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest linseed oil importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total imports. India, Fiji, Indonesia and Australia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Fiji, 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 import price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a perceptible 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, linseed oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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

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

Source: IndexBox Platform

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