Denmark: Tall Oil Market 2024

Tall Oil Market Size in Denmark

The Danish tall oil market expanded significantly to $X in 2021, increasing by 5.3% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Tall Oil Production in Denmark

In value terms, tall oil production rose markedly to $X in 2021 estimated in export price. Overall, production, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13% against the previous year. Tall oil production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tall Oil Exports

Exports from Denmark

In 2021, the amount of tall oil exported from Denmark soared to X tons, growing by 56% compared with the previous year's figure. In general, exports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 2,685% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, tall oil exports soared to $X in 2021. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 717% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X tons) was the main destination for tall oil exports from Denmark, accounting for a 80% share of total exports. Moreover, tall oil exports to Finland exceeded the volume sent to the second major destination, Sweden (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+134.0% per year) and the UK (0.0% per year).

In value terms, Finland ($X), the UK ($X) and Sweden ($X) constituted the largest markets for tall oil exported from Denmark worldwide, with a combined 99.9% share of total exports.

Sweden, with a CAGR of +87.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tall oil export price amounted to $X per ton, picking up by 78% against the previous year. In general, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 an increase of 115% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Tall Oil Imports

Imports into Denmark

Tall oil imports into Denmark dropped to X tons in 2021, with a decrease of -13% compared with 2020 figures. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 106% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, tall oil imports declined significantly to $X in 2021. In general, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 166%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of tall oil to Denmark, with a 83% share of total imports. Moreover, tall oil imports from Sweden exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled +58.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+15.6% per year) and the Netherlands (+16.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of tall oil to Denmark, comprising 87% of total imports. The second position in the ranking was held by France ($X), with a 7.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden stood at +56.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+8.7% per year) and the Netherlands (+17.8% per year).

Import Prices by Country

In 2021, the average tall oil import price amounted to $X per ton, dropping by -9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2016 an increase of 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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