South-Eastern Asia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in South-Eastern Asia

In 2022, the Southeast Asian chemically modified oils market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, showed strong growth. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Chemically Modified Oils Production in South-Eastern Asia

In value terms, chemically modified oils production amounted to $X in 2022 estimated in export price. The total production indicated a noticeable increase 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 growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

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Chemically Modified Oils Exports

Exports in South-Eastern Asia

After six years of growth, shipments abroad of animal or vegetable fats and oils chemically modified decreased by X% to X tons in 2022. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Malaysia was the key exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), together mixing up a X% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Malaysia 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, Vietnam (X%), Indonesia (X%), Thailand (X%) and Singapore (X%) displayed positive paces of growth. While the share of Malaysia (X p.p.), Indonesia (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest chemically modified oils supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports. It was followed by Vietnam, with an X% share.

In Malaysia, chemically modified oils 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: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, growing by X% against the previous year. Overall, the export price posted perceptible growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Chemically Modified Oils Imports

Imports in South-Eastern Asia

After eight years of growth, purchases abroad of animal or vegetable fats and oils chemically modified decreased by X% to X tons in 2022. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, chemically modified oils imports shrank to $X in 2022. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Singapore (X tons) was the major importer of animal or vegetable fats and oils chemically modified, generating X% of total imports. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%).

Singapore was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified imports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, the Philippines (X%) illustrated a downward trend over the same period. Singapore (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while the Philippines saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Singapore stood at X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, growing by X% against the previous year. Import price indicated a temperate expansion 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. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($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 Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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