Asia-Pacific: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Asia-Pacific

The Asia-Pacific tall oil fatty acids market skyrocketed to $X in 2021, picking up by 26% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Industrial Tall Oil Fatty Acids in Asia-Pacific

In value terms, tall oil fatty acids production contracted to $X in 2021 estimated in export price. In general, production, however, showed a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 25% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports in Asia-Pacific

In 2021, shipments abroad of industrial tall oil fatty acids was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 107%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, tall oil fatty acids exports soared to $X in 2021. Overall, exports, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 68%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X tons) and New Zealand (X tons) were the largest exporters of industrial tall oil fatty acids in Asia-Pacific, together achieving 58% of total exports. Indonesia (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (14%). Malaysia (X tons), China (X tons) and Australia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Australia (with a CAGR of +27.3%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and New Zealand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 80% share of total exports. These countries were followed by Malaysia, Indonesia, China and Australia, which together accounted for a further 16%.

Australia, with a CAGR of +8.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, increasing by 15% against the previous year. In general, the export price saw 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.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Industrial Tall Oil Fatty Acids

Imports in Asia-Pacific

After three years of decline, overseas purchases of industrial tall oil fatty acids increased by 14% to X tons in 2021. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 50% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, tall oil fatty acids imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons), Australia (X tons), Singapore (X tons) and South Korea (X tons) represented roughly 73% of total imports in 2021. Japan (X tons) held a 7.1% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (6.4%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tall oil fatty acids importing markets in Asia-Pacific were Malaysia ($X), India ($X) and China ($X), together comprising 47% of total imports. Australia, Singapore, South Korea and Japan lagged somewhat behind, together accounting for a further 40%.

In terms of the main importing countries, Australia, with a CAGR of +16.3%, 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-Pacific stood at $X per ton in 2021, with an increase of 30% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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