MENA: Linseed Oil Market 2024

Linseed Oil Market Size in MENA

In 2022, the MENA's linseed oil market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, showed a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Linseed Oil Production in MENA

In value terms, linseed oil production shrank to $X in 2022 estimated in export price. In general, production, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Linseed Oil Exports

Exports in MENA

In 2022, shipments abroad of linseed oil increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports saw a measured increase. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports soared to $X in 2022. Overall, exports showed a prominent expansion. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Morocco (X tons) and the United Arab Emirates (X tons), together generating a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to linseed oil exports from Turkey stood at X%. At the same time, Morocco (X%) and Oman (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Morocco (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest linseed oil supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Morocco ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, linseed oil exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price showed a perceptible increase. Over the period under review, the export prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Linseed Oil Imports

Imports in MENA

Linseed oil imports declined to X tons in 2022, approximately reflecting 2021. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports fell modestly to $X in 2022. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X tons) and Qatar (X tons) represented roughly X% of total imports in 2022. Israel (X tons) took the next position in the ranking, followed by Egypt (X tons) and Morocco (X tons). All these countries together took near X% share of total imports. Iran (X tons), the United Arab Emirates (X tons), Tunisia (X tons), Algeria (X tons), Oman (X tons), Lebanon (X tons), Kuwait (X tons) and Iraq (X tons) held a little share of total imports.

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

In value terms, Turkey ($X), Qatar ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Egypt, Morocco, the United Arab Emirates, Iran, Tunisia, Oman, Lebanon, Kuwait, Algeria and Iraq lagged somewhat behind, together accounting for a further X%.

Iran, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, almost unchanged from the previous year. Import price indicated a tangible increase 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, linseed oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped modestly in the following year.

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 the United Arab Emirates ($X per ton), while Algeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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