Eastern Asia: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in Eastern Asia

In 2021, after two years of decline, there was significant growth in the East Asian industrial oleic acid market, when its value increased by 14% to $X. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Oleic Acid Production in Eastern Asia

In value terms, industrial oleic acid production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 8.2%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Industrial Oleic Acid Exports

Exports in Eastern Asia

In 2021, overseas shipments of industrial oleic acid increased by 22% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2016 when exports increased by 61% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, industrial oleic acid exports surged to $X in 2021. In general, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of industrial oleic acid, namely China, Japan and South Korea, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together comprising 100% of total exports.

In terms of the main exporting countries, China, with a CAGR of +24.1%, 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 export price in Eastern Asia stood at $X per ton in 2021, increasing by 37% against the previous year. In general, the export price, however, saw a slight reduction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Industrial Oleic Acid Imports

Imports in Eastern Asia

In 2021, approx. X tons of industrial oleic acid were imported in Eastern Asia; surging by 5.6% against the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.4% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 19%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, industrial oleic acid imports soared to $X in 2021. Overall, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), Japan (X tons) and South Korea (X tons) represented the main importer of industrial oleic acid in Eastern Asia, achieving 91% of total import. It was distantly followed by Taiwan (Chinese) (X tons), creating a 9% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +14.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 91% of total imports.

Among the main importing countries, China, with a CAGR of +13.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 65% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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