Italy: Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size in Italy

The Italian chemically modified oils market skyrocketed to $X in 2021, jumping by 121% against the previous year. Over the period under review, consumption showed a prominent expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Chemically Modified Oils Production in Italy

In value terms, chemically modified oils production soared to $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The growth pace was the most rapid in 2019 with an increase of 83% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Chemically Modified Oils Exports

Exports from Italy

In 2021, overseas shipments of animal or vegetable fats and oils chemically modified increased by 40% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 42%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, chemically modified oils exports soared to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Austria (X tons) and Denmark (X tons) were the main destinations of chemically modified oils exports from Italy, together accounting for 68% of total exports.

From 2012 to 2021, the biggest increases were in Denmark (with a CAGR of +52.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Austria ($X) and Spain ($X) appeared to be the largest markets for chemically modified oils exported from Italy worldwide, with a combined 64% share of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +41.6%, saw 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 2021, the average chemically modified oils export price amounted to $X per ton, picking up by 32% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Denmark ($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 the Netherlands (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Italy

In 2021, the amount of animal or vegetable fats and oils chemically modified imported into Italy soared to X tons, with an increase of 34% compared with the year before. Overall, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chemically modified oils imports surged to $X in 2021. In general, imports posted prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of chemically modified oils imports to Italy, together comprising 56% of total imports. These countries were followed by Romania, Bulgaria, Poland, Portugal, France, Slovenia, the United Arab Emirates, the UK, the Netherlands and Austria, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +360.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of chemically modified oils to Italy, comprising 37% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +95.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.6% per year) and Spain (+17.7% per year).

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2021, rising by 74% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chemically modified oils import price increased by +90.0% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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