Eastern Asia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Eastern Asia

In 2022, the East Asian chemically modified oils market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Chemically Modified Oils Production in Eastern Asia

In value terms, chemically modified oils production rose slightly to $X in 2022 estimated in export price. The total production indicated tangible 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 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chemically Modified Oils Exports

Exports in Eastern Asia

In 2022, the amount of animal or vegetable fats and oils chemically modified exported in Eastern Asia soared to X tons, jumping by X% against the year before. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Japan (X tons), mixing up a X% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and South Korea (X tons) - each accounted for a X% share of total exports.

China was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%), Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest chemically modified oils supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, chemically modified oils exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while Japan ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the export price figures.

Chemically Modified Oils Imports

Imports in Eastern Asia

After four years of growth, supplies from abroad of animal or vegetable fats and oils chemically modified decreased by X% to X tons in 2022. Total imports indicated mild 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 most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank sharply in the following year.

In value terms, chemically modified oils imports reduced to $X in 2022. Overall, imports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

South Korea was the largest importer of animal or vegetable fats and oils chemically modified in Eastern Asia, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. China (X tons) ranks second in terms of the total imports with a X% share, followed by Hong Kong SAR (X%) and Japan (X%).

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils imports into South Korea stood at X%. At the same time, Hong Kong SAR (X%) and China (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. Hong Kong SAR (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in South Korea amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated notable 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, chemically modified oils import price increased by X% against 2019 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 Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :