Denmark: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Denmark

In 2021, the Danish tall oil fatty acids market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Industrial Tall Oil Fatty Acids

Exports from Denmark

In 2021, shipments abroad of industrial tall oil fatty acids decreased by -73.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 743%. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank markedly in the following year.

In value terms, tall oil fatty acids exports contracted remarkably to $X in 2021. Over the period under review, exports recorded a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 2,037%. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Greece (X tons) was the main destination for tall oil fatty acids exports from Denmark, with a 86% share of total exports. Moreover, tall oil fatty acids exports to Greece exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled -49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.0% per year) and the UK (+4.6% per year).

In value terms, Greece ($X) emerged as the key foreign market for industrial tall oil fatty acids exports from Denmark, comprising 66% of total exports. The second position in the ranking was taken by Japan ($X), with a 13% share of total exports. It was followed by the UK, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece amounted to -48.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-4.5% per year) and the UK (+1.9% per year).

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, falling by -10% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 153%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Greece ($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 South Africa (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Tall Oil Fatty Acids

Imports into Denmark

In 2021, purchases abroad of industrial tall oil fatty acids decreased by -4% to X tons, falling for the third consecutive year after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 104%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, tall oil fatty acids imports expanded significantly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 98% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Finland (X tons) constituted the largest tall oil fatty acids supplier to Denmark, with a 69% share of total imports. Moreover, tall oil fatty acids imports from Finland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from Finland amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+24.9% per year) and Germany (+5.7% per year).

In value terms, Finland ($X) constituted the largest supplier of industrial tall oil fatty acids to Denmark, comprising 71% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 23% share of total imports. It was followed by Germany, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Finland stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+23.5% per year) and Germany (+7.2% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per ton), while the price for the Netherlands ($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 (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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