Thailand: Linseed Oil Market Overview 2021

Linseed Oil Market Size in Thailand

In 2019, the Thai linseed oil market decreased by -X% to $X for the first time since 2016, thus ending a two-year rising trend. Overall, consumption recorded a deep reduction. The pace of growth appeared the most rapid in 2008 when the market value increased by X% year-to-year. Over the period under review, the market attained the maximum level at $X in 2010; however, from 2011 to 2019, consumption stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Thailand

In 2019, linseed oil exports from Thailand surged to X tonnes, rising by X% against 2018 figures. Over the period under review, exports enjoyed a significant expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, linseed oil exports soared to $X in 2019. Overall, exports recorded a remarkable increase. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sri Lanka (X tonnes) was the main destination for linseed oil exports from Thailand, accounting for a X% share of total exports. Moreover, linseed oil exports to Sri Lanka exceeded the volume sent to the second major destination, India (X tonnes), sevenfold. The third position in this ranking was occupied by Taiwan (Chinese) (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Sri Lanka totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+X% per year) and Taiwan (Chinese) (+X% per year).

In value terms, Sri Lanka ($X) emerged as the key foreign market for linseed oil exports from Thailand, comprising X% of total exports. The second position in the ranking was occupied by Cambodia ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Sri Lanka totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+X% per year) and Taiwan (Chinese) (+X% per year).

Export Prices by Country

The average linseed oil export price stood at $X per tonne in 2019, which is down by -X% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2011 an increase of X% against the previous year. Over the period under review, average export prices hit record highs at $X per tonne in 2007; however, from 2008 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Cambodia ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia, while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Thailand

Linseed oil imports into Thailand fell sharply to X tonnes in 2019, shrinking by -X% compared with 2018 figures. In general, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. As a result, imports attained the peak of X tonnes. From 2011 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, linseed oil imports fell to $X in 2019. Over the period under review, imports showed a slight contraction. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2009 to 2019, the growth imports failed to regain the momentum.

Imports by Country

In 2019, Belgium (X tonnes) constituted the largest linseed oil supplier to Thailand, with a X% share of total imports. Moreover, linseed oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tonnes), sixfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Belgium stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Japan (-X% per year).

In value terms, Belgium ($X) constituted the largest supplier of linseed oil to Thailand, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Japan (-X% per year).

Import Prices by Country

The average linseed oil import price stood at $X per tonne in 2019, growing by X% against the previous year. Overall, import price indicated modest growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, linseed oil import price increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per tonne), while the price for Belgium ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for linseed oil in the world?

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The country with the largest volume of linseed oil consumption was China (287K tonnes), comprising approx. 32% of total volume. Moreover, linseed oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (75K tonnes), fourfold. The third position in this ranking was occupied by Gambia (67K tonnes), with a 7.4% share.

What are the largest producers of linseed oil in the world?

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China (247K tonnes) constituted the country with the largest volume of linseed oil production, comprising approx. 31% of total volume. Moreover, linseed oil production in China exceeded the figures recorded by the second-largest producer, Belgium (121K tonnes), twofold. The third position in this ranking was occupied by the U.S. (78K tonnes), with a 9.9% share.

What are the leading suppliers of linseed oil to Thailand?

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In value terms, Belgium ($880K) constituted the largest supplier of linseed oil to Thailand, comprising 69% of total imports. The second position in the ranking was occupied by Germany ($189K), with a 15% share of total imports.

What are the leading importers of linseed oil from Thailand?

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In value terms, Sri Lanka ($101K) emerged as the key foreign market for linseed oil exports from Thailand, comprising 40% of total exports. The second position in the ranking was occupied by Cambodia ($22K), with a 8.6% share of total exports. It was followed by Taiwan (Chinese), with a 5.7% share.

What is the average export price for linseed oil in Thailand?

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The average linseed oil export price stood at $754 per tonne in 2019, declining by -80.1% against the previous year.

What is the average import price for linseed oil in Thailand?

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The average linseed oil import price stood at $1,280 per tonne in 2019, picking up by 3.9% against the previous year.