CIS: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in CIS

The CIS chemically modified oils market shrank modestly to $X in 2022, dropping by -3.6% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Chemically Modified Oils Production in CIS

In value terms, chemically modified oils production reduced modestly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Chemically Modified Oils Exports

Exports in CIS

In 2022, the amount of animal or vegetable fats and oils chemically modified exported in the CIS declined modestly to X tons, falling by -4.2% compared with 2021 figures. Overall, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 105%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, chemically modified oils exports declined to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 129% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Russia represented the key exporting country with an export of around X tons, which reached 78% of total exports. It was distantly followed by Belarus (X tons), comprising a 20% share of total exports. Kazakhstan (X tons) held a little share of total exports.

Russia was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified exports, with a CAGR of +45.0% from 2012 to 2022. At the same time, Belarus (+8.6%) displayed positive paces of growth. By contrast, Kazakhstan (-1.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia increased by +63 percentage points.

In value terms, Russia ($X) remains the largest chemically modified oils supplier in the CIS, comprising 68% of total exports. The second position in the ranking was held by Belarus ($X), with a 30% share of total exports.

In Russia, chemically modified oils exports increased at an average annual rate of +43.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belarus (+16.1% per year) and Kazakhstan (-4.3% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, with a decrease of -4% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +52.8% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 57%. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+7.0%), while the other leaders experienced a decline in the export price figures.

Chemically Modified Oils Imports

Imports in CIS

In 2022, imports of animal or vegetable fats and oils chemically modified in the CIS fell to X tons, which is down by -13.8% compared with 2021. In general, imports showed a noticeable decline. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports shrank to $X in 2022. Overall, imports showed a mild curtailment. The growth pace was the most rapid in 2021 when imports increased by 74%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) represented the main importer of animal or vegetable fats and oils chemically modified, making up 77% of total imports. Kazakhstan (X tons) held the second position in the ranking, distantly followed by Belarus (X tons). All these countries together held near 17% share of total imports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils imports into Russia stood at -1.9%. At the same time, Kazakhstan (+28.4%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +28.4% from 2012-2022. By contrast, Uzbekistan (-3.0%) and Belarus (-20.5%) illustrated a downward trend over the same period. Russia (+13 p.p.), Kazakhstan (+12 p.p.) and Uzbekistan (+2 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -29.3% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in the CIS, comprising 79% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 6.5% share of total imports. It was followed by Belarus, with a 4.8% share.

In Russia, chemically modified oils imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (+17.4% per year) and Belarus (-18.7% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with an increase of 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 31% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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