Middle East: Tall Oil Market 2024

Tall Oil Market Size in the Middle East

The Middle Eastern tall oil market declined modestly to $X in 2022, stabilizing at the previous year. In general, consumption recorded a perceptible decline. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tall Oil Production in the Middle East

In value terms, tall oil production shrank to $X in 2022 estimated in export price. Overall, production showed a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Tall Oil Exports

Exports in the Middle East

In 2022, exports of tall oil in the Middle East rose remarkably to X tons, surging by X% on 2021. Overall, exports showed strong growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, tall oil exports totaled $X in 2022. In general, exports showed a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together generating a X% share of total exports.

Turkey was also the fastest-growing in terms of the tall oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Israel (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates 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, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of X%, recorded 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 2022, the export price in the Middle East amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Tall Oil Imports

Imports in the Middle East

After two years of decline, overseas purchases of tall oil increased by X% to X tons in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, tall oil imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) was the main importer of tall oil, constituting X% of total imports. It was distantly followed by Kuwait (X tons), Israel (X tons) and the United Arab Emirates (X tons), together making up a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Israel and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest tall oil importing markets in the Middle East were Turkey ($X), Kuwait ($X) and Israel ($X), together comprising X% of total imports.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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