India: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in India

The Indian tall oil fatty acids market skyrocketed to $X in 2021, rising by 29% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a buoyant expansion. Tall oil fatty acids consumption peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Industrial Tall Oil Fatty Acids

Exports from India

In 2021, overseas shipments of industrial tall oil fatty acids decreased by -10.1% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 210% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tall oil fatty acids exports shrank significantly to $X in 2021. Overall, exports showed a deep slump. The growth pace was the most rapid in 2013 when exports increased by 265%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for tall oil fatty acids exports from India, with a 85% share of total exports. Moreover, tall oil fatty acids exports to Nepal exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to -13.0%.

In value terms, Nepal ($X) emerged as the key foreign market for industrial tall oil fatty acids exports from India, comprising 72% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Nepal amounted to -11.2%.

Export Prices by Country

In 2021, the average tall oil fatty acids export price amounted to $X per ton, declining by -16.9% against the previous year. Overall, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tall oil fatty acids export price decreased by -36.8% against 2015 indices. The growth pace was the most rapid in 2015 an increase of 38%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Nepal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+2.1%).

Imports of Industrial Tall Oil Fatty Acids

Imports into India

In 2021, approx. X tons of industrial tall oil fatty acids were imported into India; growing by 18% on 2020. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 160% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, tall oil fatty acids imports surged to $X in 2021. In general, imports saw a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 124% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, the United States (X tons) constituted the largest tall oil fatty acids supplier to India, accounting for a 78% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Finland (X tons), ninefold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+3.0% per year) and the Netherlands (+51.6% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to India, comprising 77% of total imports. The second position in the ranking was taken by Finland ($X), with an 8.5% share of total imports. It was followed by the Netherlands, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-2.4% per year) and the Netherlands (+40.1% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, surging by 12% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+20.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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