Denmark: Linseed Oil Market 2024

Linseed Oil Market Size in Denmark

The Danish linseed oil market declined to $X in 2022, falling by -10.4% against the previous year. Over the period under review, consumption recorded a deep reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Linseed Oil Production in Denmark

In value terms, linseed oil production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, showed a deep contraction. The growth pace was the most rapid in 2018 with an increase of 73% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Linseed Oil Exports

Exports from Denmark

In 2022, overseas shipments of linseed oil were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 108%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, linseed oil exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 45%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for linseed oil exports from Denmark, with a 62% share of total exports. Moreover, linseed oil exports to Sweden exceeded the volume sent to the second major destination, Norway (X tons), twofold. The third position in this ranking was held by Germany (X kg), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at -11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-4.8% per year) and Germany (+36.1% per year).

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the largest markets for linseed oil exported from Denmark worldwide, with a combined 89% share of total exports. The UK and Germany lagged somewhat behind, together accounting for a further 6%.

Among the main countries of destination, Germany, with a CAGR of +18.9%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, standing approx. at the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil export price increased by +79.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 58%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Denmark

In 2022, after two years of growth, there was significant decline in supplies from abroad of linseed oil, when their volume decreased by -47.9% to X tons. Over the period under review, imports continue to indicate a slight setback. The pace of growth appeared the most rapid in 2016 when imports increased by 90% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted significantly in the following year.

In value terms, linseed oil imports reduced sharply to $X in 2022. Overall, imports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of 108%. As a result, imports attained the peak of $X, and then declined remarkably in the following year.

Imports by Country

Germany (X tons), Belgium (X tons) and Sweden (X tons) were the main suppliers of linseed oil imports to Denmark, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +19.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest linseed oil suppliers to Denmark were Germany ($X), Belgium ($X) and Sweden ($X), together comprising 96% of total imports.

In terms of the main suppliers, Sweden, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, with an increase of 17% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil import price increased by +112.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 51% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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