Global Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size

In 2021, the global chemically modified oils market decreased by -17.8% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the global market attained the maximum level at $X in 2020, and then shrank significantly in the following year.

Chemically Modified Oils Production

In value terms, chemically modified oils production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 increased by +44.2% against 2015 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 16%. Global production peaked at $X in 2020, and then shrank slightly in the following year.

Chemically Modified Oils Exports

Exports

In 2021, approx. X tons of animal or vegetable fats and oils chemically modified were exported worldwide; growing by 21% compared with 2020. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. Over the period under review, the global exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, chemically modified oils exports skyrocketed to $X in 2021. In general, exports recorded prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), the Netherlands (X tons) and Malaysia (X tons) represented roughly 45% of total exports in 2021. The United States (X tons) took the next position in the ranking, followed by Indonesia (X tons) and Spain (X tons). All these countries together took near 17% share of total exports. The following exporters - Germany (X tons), Belgium (X tons), Poland (X tons), Canada (X tons), Italy (X tons), the UK (X tons) and Japan (X tons) - together made up 19% of total exports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +48.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest chemically modified oils supplying countries worldwide were China ($X), the Netherlands ($X) and Malaysia ($X), with a combined 44% share of global exports. The United States, Spain, Indonesia, Germany, Belgium, Poland, the UK, Italy, Canada and Japan lagged somewhat behind, together comprising a further 37%.

Spain, with a CAGR of +55.0%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average chemically modified oils export price amounted to $X per ton, jumping by 39% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Belgium ($X per ton) and Spain ($X per ton), while Canada ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.9%), while the other global leaders experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports

In 2021, approx. X tons of animal or vegetable fats and oils chemically modified were imported worldwide; picking up by 8.6% compared with the year before. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 28% against the previous year. Global imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, chemically modified oils imports surged to $X in 2021. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by Singapore (X tons), Malaysia (X tons), Spain (X tons), the Philippines (X tons) and Germany (X tons) were the largest importers of animal or vegetable fats and oils chemically modified, together making up 68% of total imports. Finland (X tons), Afghanistan (X tons), the UK (X tons), Belgium (X tons), Portugal (X tons), the United States (X tons) and France (X tons) followed a long way behind the leaders.

Imports into the Netherlands increased at an average annual rate of +15.6% from 2012 to 2021. At the same time, Singapore (+82.9%), Malaysia (+67.5%), Finland (+67.5%), Portugal (+51.2%), France (+29.6%), Spain (+28.6%), the United States (+26.4%), Belgium (+17.4%), the Philippines (+13.5%), Germany (+7.3%) and the UK (+2.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +82.9% from 2012-2021. Afghanistan experienced a relatively flat trend pattern. Singapore (+11 p.p.), Malaysia (+8.3 p.p.), Spain (+5.6 p.p.), Finland (+3.3 p.p.), the Netherlands (+3.1 p.p.) and Portugal (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the UK, Germany and Afghanistan saw its share reduced by -4.6%, -5.3% and -7.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X), Singapore ($X) and Spain ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 43% share of global imports.

Singapore, with a CAGR of +75.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average chemically modified oils import price amounted to $X per ton, growing by 38% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was France ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :