China: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in China

The Chinese tall oil fatty acids market shrank markedly to $X in 2021, waning by -16.8% 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 recorded a abrupt decline. Tall oil fatty acids consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from China

After four years of decline, shipments abroad of industrial tall oil fatty acids increased by 26% to X tons in 2021. In general, exports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2014 with an increase of 293%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, tall oil fatty acids exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 324%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Vietnam (X tons) and Malaysia (X tons) were the main destinations of tall oil fatty acids exports from China, together comprising 66% of total exports. These countries were followed by Singapore, Mongolia, Australia and Taiwan (Chinese), which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +191.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tall oil fatty acids exported from China were the United Arab Emirates ($X), Vietnam ($X) and Malaysia ($X), with a combined 63% share of total exports. Singapore, Mongolia, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Singapore, with a CAGR of +188.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, with an increase of 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, the export price attained 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 Taiwan (Chinese) ($X per ton), while the average price for exports to the United Arab Emirates ($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 Hong Kong SAR (+73.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Tall Oil Fatty Acids

Imports into China

Tall oil fatty acids imports into China dropped rapidly to X tons in 2021, with a decrease of -21.7% compared with the year before. In general, imports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 83%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, tall oil fatty acids imports fell to $X in 2021. Overall, imports showed a deep setback. The growth pace was the most rapid in 2017 with an increase of 62% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 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 China, with a 67% 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), fivefold. Finland (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-15.6% per year) and Finland (+18.8% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to China, comprising 63% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by Finland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-17.9% per year) and Finland (+14.1% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, rising by 9.2% against the previous year. In general, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 22%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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