United Kingdom: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in the UK

The UK gum or wood oils market contracted sharply to $X in 2023, waning by X% against the previous year. Overall, consumption recorded a abrupt descent. Gum or wood oils consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in the UK

In value terms, gum or wood oils production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Gum or wood oils production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

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Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from the UK

Gum or wood oils exports from the UK rose markedly to X tons in 2023, with an increase of X% on the previous year's figure. In general, exports enjoyed a notable increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, gum or wood oils exports rose notably to $X in 2023. Overall, exports recorded slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Ireland (X tons), France (X tons) and Belize (X tons) were the main destinations of gum or wood oils exports from the UK, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gum or wood oils exported from the UK were Ireland ($X), France ($X) and Sweden ($X), together accounting for X% of total exports.

Sweden, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average gum or wood oils export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into the UK

For the third consecutive year, the UK recorded decline in overseas purchases of gum, wood or sulphate turpentine oils, pine oil and other alike, which decreased by X% to X tons in 2023. In general, imports showed a deep reduction. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, gum or wood oils imports contracted notably to $X in 2023. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

India (X tons), France (X tons) and the United States (X tons) were the main suppliers of gum or wood oils imports to the UK, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of gum, wood or sulphate turpentine oils, pine oil and other alike to the UK, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and France (X% per year).

Import Prices by Country

In 2023, the average gum or wood oils import price amounted to $X per ton, declining by X% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, gum or wood oils import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform