Benelux: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Benelux

In 2022, the Benelux chemically modified oils market increased by 41% to $X, rising for the sixth consecutive year after three years of decline. Overall, consumption recorded significant growth. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Chemically Modified Oils Production in Benelux

In value terms, chemically modified oils production skyrocketed to $X in 2022 estimated in export price. In general, production showed a significant increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 495%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports in Benelux

In 2022, the amount of animal or vegetable fats and oils chemically modified exported in Benelux expanded markedly to X tons, picking up by 15% against 2021 figures. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 49%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, chemically modified oils exports surged to $X in 2022. In general, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands represented the main exporting country with an export of around X tons, which accounted for 88% of total exports. It was distantly followed by Belgium (X tons), achieving a 12% share of total exports.

The Netherlands was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified exports, with a CAGR of +10.1% from 2012 to 2022. At the same time, Belgium (+9.3%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest chemically modified oils supplier in Benelux, comprising 86% of total exports. The second position in the ranking was held by Belgium ($X), with a 14% share of total exports.

In the Netherlands, chemically modified oils exports increased at an average annual rate of +13.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, picking up by 28% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price 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, chemically modified oils export price increased by +87.7% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 36%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.8%).

Chemically Modified Oils Imports

Imports in Benelux

In 2022, approx. X tons of animal or vegetable fats and oils chemically modified were imported in Benelux; jumping by 17% against the year before. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 51%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, chemically modified oils imports soared to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 71%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands prevails in imports structure, amounting to X tons, which was near 92% of total imports in 2022. It was distantly followed by Belgium (X tons), mixing up a 7.9% share of total imports.

The Netherlands was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified imports, with a CAGR of +15.9% from 2012 to 2022. At the same time, Belgium (+14.9%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Benelux, comprising 90% of total imports. The second position in the ranking was taken by Belgium ($X), with a 9.9% share of total imports.

In the Netherlands, chemically modified oils imports expanded at an average annual rate of +19.0% over the period from 2012-2022.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, rising by 19% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemically modified oils import price increased by +90.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 39%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.7%).

Source: IndexBox Platform