Central Asia: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Central Asia

In 2021, the Central Asian tall oil fatty acids market increased by 15% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a prominent expansion. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Industrial Tall Oil Fatty Acids in Central Asia

In value terms, tall oil fatty acids production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 11%. As a result, production attained the peak level of $X, and then declined in the following year.

Exports of Industrial Tall Oil Fatty Acids

Exports in Central Asia

In 2021, exports of industrial tall oil fatty acids in Central Asia declined markedly to X tons, waning by -83.2% compared with 2020. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 129%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, tall oil fatty acids exports shrank notably to $X in 2021. Over the period under review, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 60%. Over the period under review, the exports reached the peak figure at $X in 2020, and then fell sharply in the following year.

Exports by Country

In 2021, Kazakhstan (X tons) was the largest exporter of industrial tall oil fatty acids in Central Asia, generating 100% of total export.

Kazakhstan was also the fastest-growing in terms of the industrial tall oil fatty acids exports, with a CAGR of -5.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest tall oil fatty acids supplier in Central Asia.

In Kazakhstan, tall oil fatty acids exports shrank by an average annual rate of -11.0% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, reducing by -44.2% against the previous year. Over the period under review, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of 34% against the previous year. The level of export peaked at $X per ton in 2020, and then fell notably in the following year.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to -5.5% per year.

Imports of Industrial Tall Oil Fatty Acids

Imports in Central Asia

In 2021, overseas purchases of industrial tall oil fatty acids increased by 21% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 169% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, tall oil fatty acids imports expanded to $X in 2021. Over the period under review, imports showed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 185%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Kazakhstan prevails in imports structure, accounting for X tons, which was near 88% of total imports in 2021. It was distantly followed by Turkmenistan (X tons), constituting an 8.8% share of total imports. Mongolia (X tons) followed a long way behind the leaders.

Imports into Kazakhstan increased at an average annual rate of +36.9% from 2012 to 2021. At the same time, Turkmenistan (+76.1%) displayed positive paces of growth. Moreover, Turkmenistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +76.1% from 2012-2021. By contrast, Mongolia (-17.7%) illustrated a downward trend over the same period. While the share of Kazakhstan (+65 p.p.) and Turkmenistan (+8.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mongolia (-66.9 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported industrial tall oil fatty acids in Central Asia, comprising 81% of total imports. The second position in the ranking was held by Turkmenistan ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan totaled +24.2%. The remaining importing countries recorded the following average annual rates of imports growth: Turkmenistan (+73.7% per year) and Mongolia (-21.3% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, with a decrease of -13.7% against the previous year. In general, the import price saw a abrupt setback. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkmenistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkmenistan (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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