Asia-Pacific: Linseed Oil Market 2025

Linseed Oil Market Size in Asia-Pacific

The Asia-Pacific linseed oil market fell to $X in 2022, declining by -5.3% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Production in Asia-Pacific

In value terms, linseed oil production totaled $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +12.9% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 111% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Linseed Oil Exports

Exports in Asia-Pacific

In 2022, overseas shipments of linseed oil increased by 11% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2013 with an increase of 25% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports rose significantly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the main exporting country with an export of around X tons, which finished at 43% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 14% share, followed by Australia (11%), Bangladesh (9.5%), New Zealand (8.5%) and India (7%). Taiwan (Chinese) (X tons) took a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of linseed oil. At the same time, Bangladesh (+81.0%), Australia (+25.1%) and New Zealand (+9.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +81.0% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, India (-1.5%) and Malaysia (-7.4%) illustrated a downward trend over the same period. Australia (+9.9 p.p.), Bangladesh (+9.5 p.p.), New Zealand (+5.2 p.p.) and China (+5 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -13.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest linseed oil supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was held by New Zealand ($X), with an 18% share of total exports. It was followed by India, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +1.2%. In the other countries, the average annual rates were as follows: New Zealand (+9.2% per year) and India (+5.8% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, dropping by -4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2018 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 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 New Zealand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.3%), while the other leaders experienced more modest paces of growth.

Linseed Oil Imports

Imports in Asia-Pacific

In 2022, overseas purchases of linseed oil decreased by -29.6% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a mild downturn. The pace of growth appeared the most rapid in 2015 with an increase of 32%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, linseed oil imports dropped to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.1% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of 40%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

China represented the largest importing country with an import of about X tons, which finished at 51% of total imports. Japan (X tons) ranks second in terms of the total imports with a 16% share, followed by South Korea (6.6%), Fiji (4.8%) and India (4.7%). The following importers - Indonesia (X tons) and Malaysia (X tons) - together made up 7.1% 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, Fiji (+47.1%), Japan (+6.3%) and Malaysia (+2.7%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +47.1% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, India (-1.1%) and South Korea (-5.4%) illustrated a downward trend over the same period. Japan (+8.2 p.p.) and Fiji (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and China saw its share reduced by -3.6% and -9.1% 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-Pacific were China ($X), Japan ($X) and South Korea ($X), together comprising 69% of total imports. Indonesia, India, Fiji and Malaysia lagged somewhat behind, together comprising a further 20%.

Fiji, with a CAGR of +54.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 2022, rising by 24% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +93.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 48%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady 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

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