EU: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in the EU

The EU industrial oleic acid market soared to $X in 2021, with an increase of 17% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Oleic Acid Production in the EU

In value terms, industrial oleic acid production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Industrial Oleic Acid Exports

Exports in the EU

In 2021, the amount of industrial oleic acid exported in the European Union totaled X tons, surging by 8.7% against 2020. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.0% against 2013 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 32%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

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

Exports by Country

In 2021, Belgium (X tons) and the Netherlands (X tons) represented the key exporters of industrial oleic acid in the European Union, together achieving 69% of total exports. Germany (X tons) took the next position in the ranking, distantly followed by Italy (X tons) and Spain (X tons). All these countries together held near 29% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +18.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial oleic acid supplying countries in the European Union were Belgium ($X), the Netherlands ($X) and Germany ($X), with a combined 87% share of total exports.

Among the main exporting countries, Germany, with a CAGR of +20.7%, saw the highest growth rate of 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 the European Union stood at $X per ton in 2021, growing by 50% against the previous year. Export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid export price increased by +62.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Italy ($X per ton) and Germany ($X per ton), while Spain ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.7%), while the other leaders experienced more modest paces of growth.

Industrial Oleic Acid Imports

Imports in the EU

In 2021, overseas purchases of industrial oleic acid increased by 11% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of 22% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

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

Imports by Country

In 2021, the Netherlands (X tons) was the major importer of industrial oleic acid, making up 30% of total imports. France (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (13%), Italy (11%), Spain (10%), Sweden (10%) and Germany (8.3%).

From 2012 to 2021, average annual rates of growth with regard to industrial oleic acid imports into the Netherlands stood at +5.6%. At the same time, Sweden (+23.9%), Spain (+12.3%), Italy (+10.0%), France (+9.6%), Belgium (+3.7%) and Germany (+2.4%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in the European Union, with a CAGR of +23.9% from 2012-2021. While the share of Sweden (+7.2 p.p.), Spain (+3.3 p.p.), Italy (+2.2 p.p.) and France (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Germany (-4.6 p.p.), Belgium (-4.8 p.p.) and the Netherlands (-5.2 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported industrial oleic acid in the European Union, comprising 30% of total imports. The second position in the ranking was held by Belgium ($X), with a 12% share of total imports. It was followed by France, with a 12% share.

In the Netherlands, industrial oleic acid imports increased at an average annual rate of +9.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belgium (+5.6% per year) and France (+9.4% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, with an increase of 53% against the previous year. Import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid import price increased by +75.3% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Sweden ($X per ton) and Germany ($X per ton), while France ($X per ton) and Belgium ($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 Netherlands (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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