Austria: Linseed Oil Market 2024

Linseed Oil Market Size in Austria

The Austrian linseed oil market reduced remarkably to $X in 2022, dropping by -15.1% against the previous year. Overall, consumption, however, posted a prominent expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Linseed Oil Production in Austria

In value terms, linseed oil production reduced to $X in 2022 estimated in export price. Overall, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 121%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Linseed Oil Exports

Exports from Austria

In 2022, overseas shipments of linseed oil increased by 1.7% to X tons, rising for the sixth consecutive year after four years of decline. In general, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 193%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, linseed oil exports rose significantly to $X in 2022. Overall, exports recorded strong growth. The growth pace was the most rapid in 2018 with an increase of 166% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for linseed oil exports from Austria, accounting for a 85% share of total exports. Moreover, linseed oil exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.2% per year) and Switzerland (+18.5% per year).

In value terms, Germany ($X) remains the key foreign market for linseed oil exports from Austria, comprising 80% of total exports. The second position in the ranking was held by Italy ($X), with a 6.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.9% per year) and Switzerland (+15.3% per year).

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, increasing by 6.7% against the previous year. Over the period under review, the export price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2014 an increase of 44% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+12.3%), while the prices for the other major destinations experienced a decline.

Linseed Oil Imports

Imports into Austria

In 2022, after two years of growth, there was significant decline in purchases abroad of linseed oil, when their volume decreased by -22.4% to X tons. Overall, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +36.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, linseed oil imports declined modestly to $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +52.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 34%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

Belgium (X tons), Germany (X tons) and Hungary (X tons) were the main suppliers of linseed oil imports to Austria, together accounting for 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +118.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest linseed oil suppliers to Austria were Germany ($X), Belgium ($X) and Hungary ($X), together comprising 98% of total imports.

Among the main suppliers, Hungary, with a CAGR of +97.6%, recorded the highest rates of growth with regard to 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

In 2022, the average linseed oil import price amounted to $X per ton, with an increase of 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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