Denmark: Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size in Denmark

After two years of growth, the Danish chemically modified oils market decreased by -30.3% to $X in 2021. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Chemically modified oils consumption peaked at $X in 2020, and then reduced notably in the following year.

Chemically Modified Oils Production in Denmark

In value terms, chemically modified oils production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 496%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Chemically Modified Oils Exports

Exports from Denmark

Chemically modified oils exports from Denmark contracted modestly to X tons in 2021, reducing by -3.8% compared with 2020. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 135%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, chemically modified oils exports stood at $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 71%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), Germany (X tons) and Italy (X tons) were the main destinations of chemically modified oils exports from Denmark, together comprising 87% of total exports. These countries were followed by the Czech Republic, Belgium, Norway and Sweden, which together accounted for a further 10%.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +209.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Italy ($X) were the largest markets for chemically modified oils exported from Denmark worldwide, with a combined 78% share of total exports. The Czech Republic, Belgium, Norway and Sweden lagged somewhat behind, together comprising a further 14%.

Belgium, with a CAGR of +220.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average chemically modified oils export price amounted to $X per ton, increasing by 15% against the previous year. In general, the export price, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2020 when the average export price increased by 28%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Norway ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Denmark

In 2021, purchases abroad of animal or vegetable fats and oils chemically modified increased by 257% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports enjoyed a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chemically modified oils imports skyrocketed to $X in 2021. In general, imports, however, recorded a slight setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of chemically modified oils to Denmark, with a 66% share of total imports. Moreover, chemically modified oils imports from Spain exceeded the figures recorded by the second-largest supplier, Russia (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+88.1% per year) and Germany (-12.0% per year).

In value terms, Spain ($X) constituted the largest supplier of chemically modified oils to Denmark, comprising 65% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Russia, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.6% per year) and Russia (+77.7% per year).

Import Prices by Country

In 2021, the average chemically modified oils import price amounted to $X per ton, increasing by 2.4% against the previous year. In general, the import price, however, showed a pronounced slump. The growth pace was the most rapid in 2020 when the average import price increased by 35% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Lithuania ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :