Azerbaijan: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Azerbaijan

The Azerbaijani chemically modified oils market dropped modestly to $X in 2022, leveling off at the previous year. Over the period under review, the total consumption indicated notable growth 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Chemically Modified Oils Production in Azerbaijan

In value terms, chemically modified oils production declined modestly to $X in 2022 estimated in export price. Overall, the total production indicated pronounced growth 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 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chemically Modified Oils Exports

Exports from Azerbaijan

Chemically modified oils exports from Azerbaijan expanded sharply to X tons in 2022, increasing by X% on 2021. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 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.

In value terms, chemically modified oils exports surged to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Belgium (X tons) and the Netherlands (X tons) were the main destinations of chemically modified oils exports from Azerbaijan.

From 2018 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%).

In value terms, Belgium ($X) and the Netherlands ($X) were the largest markets for chemically modified oils exported from Azerbaijan worldwide.

The Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price enjoyed a significant expansion. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Belgium totaled $X per ton.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%).

Chemically Modified Oils Imports

Imports into Azerbaijan

In 2022, after three years of decline, there was significant growth in purchases abroad of animal or vegetable fats and oils chemically modified, when their volume increased by X% to X tons. Overall, imports recorded pronounced growth. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, chemically modified oils imports skyrocketed to $X in 2022. In general, imports continue to indicate a resilient increase. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest chemically modified oils supplier to Azerbaijan, with a X% share of total imports. Moreover, chemically modified oils imports from Brazil exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Russia (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, dropping by X% against the previous year. Overall, 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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