Europe: Tall Oil Market 2024

Tall Oil Market Size in Europe

The Europe tall oil market fell modestly to $X in 2021, approximately equating the previous year. Over the period under review, consumption, however, saw a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Tall Oil Production in Europe

In value terms, tall oil production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable setback. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Tall Oil Exports

Exports in Europe

In 2021, approx. X tons of tall oil were exported in Europe; increasing by 25% against the year before. Over the period under review, exports showed a tangible expansion. The growth pace was the most rapid in 2017 with an increase of 50%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, tall oil exports surged to $X in 2021. Overall, exports saw a measured increase. 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 tall oil, namely Finland, Sweden and Russia, represented more than two-thirds of total export. Belarus (X tons) took the next position in the ranking, followed by Germany (X tons) and Spain (X tons). All these countries together took approx. 17% share of total exports. The Netherlands (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Belarus (with a CAGR of +125.4%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Sweden ($X) and Russia ($X) were the countries with the highest levels of exports in 2021, with a combined 73% share of total exports. Belarus, Germany, the Netherlands and Spain lagged somewhat behind, together accounting for a further 15%.

Belarus, with a CAGR of +133.4%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 Europe stood at $X per ton in 2021, increasing by 27% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.5%), while the other leaders experienced more modest paces of growth.

Tall Oil Imports

Imports in Europe

For the third year in a row, Europe recorded growth in supplies from abroad of tall oil, which increased by 2.8% to X tons in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 44%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, tall oil imports soared to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 23% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Finland represented the major importer of tall oil in Europe, with the volume of imports finishing at X tons, which was near 53% of total imports in 2021. France (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Austria (11%). Russia (X tons), the Netherlands (X tons), Germany (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to tall oil imports into Finland stood at +5.2%. At the same time, Russia (+35.9%), France (+19.4%) and the Netherlands (+3.1%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in Europe, with a CAGR of +35.9% from 2012-2021. Austria experienced a relatively flat trend pattern. By contrast, Germany (-3.3%) and Sweden (-26.1%) illustrated a downward trend over the same period. While the share of France (+17 p.p.), Finland (+16 p.p.) and Russia (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-27 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tall oil importing markets in Europe were Finland ($X), France ($X) and Austria ($X), together comprising 75% of total imports.

France, with a CAGR of +17.7%, saw the highest growth rate of the value of imports, among the main importing countries 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 Europe stood at $X per ton in 2021, with an increase of 17% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform