Argentina: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Argentina

In 2021, the Argentinian tall oil fatty acids market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption showed a temperate expansion. Tall oil fatty acids consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Industrial Tall Oil Fatty Acids in Argentina

In value terms, tall oil fatty acids production fell slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 when the production volume increased by 52%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from Argentina

In 2021, shipments abroad of industrial tall oil fatty acids decreased by -14.8% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2018 with an increase of 416% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tall oil fatty acids exports expanded significantly to $X in 2021. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 261% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for tall oil fatty acids exports from Argentina, with a 82% share of total exports. Moreover, tall oil fatty acids exports to Chile exceeded the volume sent to the second major destination, Tunisia (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile amounted to +31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-15.3% per year) and South Africa (-6.3% per year).

In value terms, Chile ($X), Tunisia ($X) and South Africa ($X) constituted the largest markets for tall oil fatty acids exported from Argentina worldwide, together accounting for 99% of total exports.

Chile, with a CAGR of +20.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, jumping by 29% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2013 an increase of 45% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Tunisia ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (+3.7%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Tall Oil Fatty Acids

Imports into Argentina

In 2021, supplies from abroad of industrial tall oil fatty acids was finally on the rise to reach X tons after three years of decline. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 230%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, tall oil fatty acids imports surged to $X in 2021. In general, imports saw a strong expansion. The pace of growth was the most pronounced in 2015 when imports increased by 168%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest tall oil fatty acids supplier to Argentina, accounting for a 29% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+65.5% per year) and the Netherlands (+22.3% per year).

In value terms, the United States ($X), Spain ($X) and Finland ($X) appeared to be the largest tall oil fatty acids suppliers to Argentina, with a combined 58% share of total imports.

Finland, with a CAGR of +81.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average tall oil fatty acids import price amounted to $X per ton, reducing by -21.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 34% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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