Canada: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Canada

The Canadian tall oil fatty acids market contracted markedly to $X in 2021, reducing by -30.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption faced a deep downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Industrial Tall Oil Fatty Acids

Exports from Canada

In 2021, approx. X tons of industrial tall oil fatty acids were exported from Canada; increasing by 174% on the year before. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 236%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, tall oil fatty acids exports surged to $X in 2021. Overall, exports showed strong growth. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for tall oil fatty acids exports from Canada, with a 95% share of total exports. It was followed by Argentina (X tons), with a 2.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+166.7% per year) and China (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for industrial tall oil fatty acids exports from Canada, comprising 91% of total exports. The second position in the ranking was held by China ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Argentina (+162.3% per year).

Export Prices by Country

In 2021, the average tall oil fatty acids export price amounted to $X per ton, rising by 39% against the previous year. Overall, the export price recorded a temperate increase. The growth pace was the most rapid in 2016 when the average export price increased by 82% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 Nigeria (+21.6%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Tall Oil Fatty Acids

Imports into Canada

In 2021, overseas purchases of industrial tall oil fatty acids decreased by -21% to X tons, falling for the fourth consecutive year after three years of growth. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 22%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tall oil fatty acids imports dropped markedly to $X in 2021. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2017 when imports increased by 21%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest tall oil fatty acids supplier to Canada, accounting for a 82% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Sweden (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+26.4% per year) and the Netherlands (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to Canada, comprising 80% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (0.0% per year) and Sweden (+32.3% per year).

Import Prices by Country

In 2021, the average tall oil fatty acids import price amounted to $X per ton, reducing by -6.1% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average import price increased by 37% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.7%).

Source: IndexBox Platform

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