Eastern Europe: Market for Industrial Tall Oil Fatty Acids 2024

Exports of Industrial Tall Oil Fatty Acids

Exports in Eastern Europe

In 2021, overseas shipments of industrial tall oil fatty acids decreased by -37.9% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 110% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, tall oil fatty acids exports contracted remarkably to $X in 2021. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 94% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Russia dominates exports structure, resulting at X tons, which was approx. 92% of total exports in 2021. It was distantly followed by Poland (X tons), making up a 4.8% share of total exports. The Czech Republic (X tons) held a relatively small share of total exports.

Russia was also the fastest-growing in terms of the industrial tall oil fatty acids exports, with a CAGR of +29.5% from 2012 to 2021. At the same time, Poland (+8.0%) displayed positive paces of growth. By contrast, the Czech Republic (-18.4%) illustrated a downward trend over the same period. Russia (+70 p.p.) significantly strengthened its position in terms of the total exports, while the Czech Republic saw its share reduced by -37.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest tall oil fatty acids supplier in Eastern Europe, comprising 88% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 5.6% share of total exports.

In Russia, tall oil fatty acids exports expanded at an average annual rate of +23.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (-10.9% per year) and Poland (+5.9% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, picking up by 9.3% against the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2018 an increase of 33%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Czech Republic ($X per ton), while Russia ($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 Czech Republic (+9.2%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Tall Oil Fatty Acids

Imports in Eastern Europe

In 2021, the amount of industrial tall oil fatty acids imported in Eastern Europe reduced to X tons, with a decrease of -13.1% on 2020. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 61% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, tall oil fatty acids imports expanded markedly to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 30% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X tons) and Poland (X tons) dominates imports structure, together constituting 71% of total imports. Estonia (X tons) took the next position in the ranking, followed by Lithuania (X tons). All these countries together held near 13% share of total imports. Bulgaria (X tons), the Czech Republic (X tons) and Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bulgaria (with a CAGR of +6.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tall oil fatty acids importing markets in Eastern Europe were Russia ($X), Poland ($X) and Estonia ($X), with a combined 79% share of total imports. Lithuania, Bulgaria, the Czech Republic and Belarus lagged somewhat behind, together accounting for a further 14%.

In terms of the main importing countries, Lithuania, with a CAGR of +4.6%, saw the highest rates of growth with regard to 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

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 22% against the previous year. Overall, the import price, however, continues to indicate a mild contraction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Belarus ($X per ton) and the Czech Republic ($X per ton), while Bulgaria ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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