Belgium: Industrial Oleic Acid Market 2025

Industrial Oleic Acid Market Size in Belgium

In 2021, the Belgian industrial oleic acid market increased by 65% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Oleic Acid Production in Belgium

In value terms, industrial oleic acid production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 106%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Industrial Oleic Acid Exports

Exports from Belgium

In 2021, industrial oleic acid exports from Belgium totaled X tons, approximately mirroring the previous year's figure. In general, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 70% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, industrial oleic acid exports surged to $X in 2021. Overall, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for industrial oleic acid exports from Belgium, accounting for a 46% share of total exports. Moreover, industrial oleic acid exports to France exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+4.4% per year) and the Netherlands (+34.2% per year).

In value terms, the largest markets for industrial oleic acid exported from Belgium were France ($X), Germany ($X) and the Netherlands ($X), with a combined 75% share of total exports. These countries were followed by Italy, the UK, Lithuania, Spain and Japan, which together accounted for a further 19%.

Lithuania, with a CAGR of +57.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial oleic acid export price stood at $X per ton in 2021, with an increase of 57% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid export price increased by +72.9% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Japan ($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 Lithuania (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Oleic Acid Imports

Imports into Belgium

After two years of decline, supplies from abroad of industrial oleic acid increased by 15% to X tons in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 65%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, industrial oleic acid imports surged to $X in 2021. Overall, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Indonesia (X tons) were the main suppliers of industrial oleic acid imports to Belgium, together accounting for 83% of total imports. Malaysia and Spain lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +43.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial oleic acid suppliers to Belgium were the Netherlands ($X), Germany ($X) and Indonesia ($X), with a combined 83% share of total imports. Malaysia and Spain lagged somewhat behind, together accounting for a further 15%.

Spain, with a CAGR of +46.4%, recorded 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 industrial oleic acid import price amounted to $X per ton, increasing by 52% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid import price increased by +83.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Indonesia ($X per ton) and Germany ($X per ton), while the price for the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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