United Arab Emirates: Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size in the United Arab Emirates

In 2021, the chemically modified oils market in the United Arab Emirates decreased by -0.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +14.7% against 2018 indices. Chemically modified oils consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Chemically Modified Oils Production in the United Arab Emirates

In value terms, chemically modified oils production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +10.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 168%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Chemically Modified Oils Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of animal or vegetable fats and oils chemically modified increased by 6.5% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 322% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, chemically modified oils exports skyrocketed to $X in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 321% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from the United Arab Emirates, with a 51% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+103.3% per year) and the UK (+23.2% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for chemically modified oils exports from the United Arab Emirates, comprising 52% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+95.6% per year) and the UK (+21.6% per year).

Export Prices by Country

In 2021, the average chemically modified oils export price amounted to $X per ton, rising by 39% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and Malaysia ($X per ton), while the average price for exports to the UK ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of animal or vegetable fats and oils chemically modified were imported into the United Arab Emirates; growing by 7.4% on 2020. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 164%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, chemically modified oils imports soared to $X in 2021. In general, imports showed a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by 73% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Oman (X tons) and Malaysia (X tons) were the main suppliers of chemically modified oils imports to the United Arab Emirates, together accounting for 52% of total imports. These countries were followed by Indonesia, Taiwan (Chinese), Turkey, China, the United States, India and the Netherlands, which together accounted for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +730.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Saudi Arabia ($X) and Malaysia ($X) appeared to be the largest chemically modified oils suppliers to the United Arab Emirates, with a combined 42% share of total imports. Taiwan (Chinese), the United States, China, Indonesia, Turkey, India and the Netherlands lagged somewhat behind, together accounting for a further 47%.

Indonesia, with a CAGR of +846.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 2021, with an increase of 16% against the previous year. Overall, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2017 an increase of 63%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :