Benelux: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in Benelux

In 2021, the Benelux industrial oleic acid market increased by 92% to $X, rising for the second consecutive year after two years of decline. Overall, consumption enjoyed a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Oleic Acid Production in Benelux

In value terms, industrial oleic acid production stood at $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 177%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Industrial Oleic Acid Exports

Exports in Benelux

In 2021, approx. X tons of industrial oleic acid were exported in Benelux; increasing by 8.7% compared with 2020. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.1% against 2013 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 57% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, industrial oleic acid exports soared to $X in 2021. Over the period under review, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Belgium (X tons), followed by the Netherlands (X tons) represented the main exporters of industrial oleic acid, together mixing up 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +10.2%).

In value terms, Belgium ($X) and the Netherlands ($X) were the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, Belgium, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, rising by 51% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.4% 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 +68.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.6%).

Industrial Oleic Acid Imports

Imports in Benelux

In 2021, purchases abroad of industrial oleic acid increased by 24% to X tons, rising for the fifth consecutive year after three years of decline. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +122.7% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 29% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, industrial oleic acid imports soared to $X in 2021. Overall, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands was the largest importing country with an import of about X tons, which accounted for 70% of total imports. It was distantly followed by Belgium (X tons), committing a 30% share of total imports.

The Netherlands was also the fastest-growing in terms of the industrial oleic acid imports, with a CAGR of +5.6% from 2012 to 2021. At the same time, Belgium (+3.7%) displayed positive paces of growth. From 2012 to 2021, the share of the Netherlands increased by +3.5 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported industrial oleic acid in Benelux, comprising 71% of total imports. The second position in the ranking was held by Belgium ($X), with a 29% share of total imports.

In the Netherlands, industrial oleic acid imports expanded at an average annual rate of +9.6% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, rising by 63% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.1% 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 +92.2% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%).

Source: IndexBox Platform