Asia: Linseed Oil Market 2025

Linseed Oil Market Size in Asia

The Asian linseed oil market reduced to $X in 2022, falling by -5.9% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Linseed Oil Production in Asia

In value terms, linseed oil production rose modestly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 104%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in Asia

In 2022, overseas shipments of linseed oil decreased by -8.5% to X tons, falling for the third consecutive year after eight years of growth. Over the period under review, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 67% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports amounted to $X in 2022. In general, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 42% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Kazakhstan was the key exporting country with an export of around X tons, which amounted to 59% of total exports. Turkey (X tons) took the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and China (X tons). All these countries together took near 35% share of total exports. Malaysia (X tons) took a little share of total exports.

Kazakhstan was also the fastest-growing in terms of the linseed oil exports, with a CAGR of +62.6% from 2012 to 2022. At the same time, Turkey (+12.2%) and the United Arab Emirates (+6.3%) displayed positive paces of growth. China experienced a relatively flat trend pattern. By contrast, Malaysia (-7.4%) illustrated a downward trend over the same period. While the share of Kazakhstan (+57 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-6.1 p.p.), Malaysia (-12.2 p.p.) and China (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest linseed oil supplying countries in Asia were Kazakhstan ($X), Turkey ($X) and China ($X), together accounting for 89% of total exports.

In terms of the main exporting countries, Kazakhstan, with a CAGR of +63.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2021 when the export price increased by 39%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.6%), while the other leaders experienced more modest paces of growth.

Linseed Oil Imports

Imports in Asia

In 2022, overseas purchases of linseed oil decreased by -30.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports dropped markedly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. As a result, imports attained the peak of $X, and then declined dramatically in the following year.

Imports by Country

China represented the largest importing country with an import of around X tons, which reached 52% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons) and India (X tons), together making up a 28% share of total imports. Indonesia (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to linseed oil imports into China stood at -2.8%. At the same time, Japan (+6.3%) and Malaysia (+2.7%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Asia, with a CAGR of +6.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, India (-1.1%), South Korea (-5.4%) and Taiwan (Chinese) (-5.8%) illustrated a downward trend over the same period. Japan (+9.1 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and China saw its share reduced by -2.8% and -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest linseed oil importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 72% share of total imports.

Among the main importing countries, Japan, with a CAGR of +8.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 21% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil import price increased by +89.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 48% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :