Malaysia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Malaysia

The Malaysian chemically modified oils market soared to $X in 2022, picking up by X% against the previous year. Overall, consumption enjoyed a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Chemically Modified Oils Production in Malaysia

In value terms, chemically modified oils production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a moderate increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chemically Modified Oils Exports

Exports from Malaysia

After six years of growth, shipments abroad of animal or vegetable fats and oils chemically modified decreased by X% to X tons in 2022. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Malaysia, accounting for a X% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, Singapore (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the UK (X% per year).

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Singapore (X% per year).

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price enjoyed a mild expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Bangladesh ($X per ton), while the average price for exports to Spain ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Malaysia

In 2022, after five years of growth, there was significant decline in overseas purchases of animal or vegetable fats and oils chemically modified, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced rapidly in the following year.

In value terms, chemically modified oils imports dropped markedly to $X in 2022. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Indonesia (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of chemically modified oils imports to Malaysia, with a combined X% share of total imports. Thailand, Singapore, Japan, Switzerland, Saudi Arabia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest chemically modified oils suppliers to Malaysia were Indonesia ($X), China ($X) and Vietnam ($X), together comprising X% of total imports. Thailand, Japan, Singapore, Switzerland, Hong Kong SAR and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of X%, saw 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 average chemically modified oils import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Vietnam ($X per ton), while the price for Singapore ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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