Iran: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Iran

In 2021, the Iranian tall oil fatty acids market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a deep contraction. Tall oil fatty acids consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Industrial Tall Oil Fatty Acids in Iran

In value terms, tall oil fatty acids production expanded rapidly to $X in 2021 estimated in export price. Overall, production saw a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of 29%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from Iran

For the fourth consecutive year, Iran recorded growth in shipments abroad of industrial tall oil fatty acids, which increased by 12% to X tons in 2021. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 488%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, tall oil fatty acids exports rose rapidly to $X in 2021. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 804%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for tall oil fatty acids exports from Iran, with a 95% share of total exports. Moreover, tall oil fatty acids exports to the United Arab Emirates exceeded the volume sent to the second major destination, Armenia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +45.6%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for industrial tall oil fatty acids exports from Iran, comprising 95% of total exports. The second position in the ranking was taken by Armenia ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +59.7%.

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, waning by -3.1% against the previous year. In general, the export price showed a deep setback. The pace of growth was the most pronounced in 2018 an increase of 78% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was Armenia ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.7%).

Imports of Industrial Tall Oil Fatty Acids

Imports into Iran

In 2021, the amount of industrial tall oil fatty acids imported into Iran reduced remarkably to X tons, which is down by -21.3% against the previous year's figure. Overall, imports saw a sharp shrinkage. The growth pace was the most rapid in 2015 with an increase of 76% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, tall oil fatty acids imports totaled $X in 2021. In general, imports recorded a dramatic slump. The most prominent rate of growth was recorded in 2017 when imports increased by 64%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Finland (X tons) and Germany (X tons) were the main suppliers of tall oil fatty acids imports to Iran, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +5.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest tall oil fatty acids suppliers to Iran were Malaysia ($X), Finland ($X) and Germany ($X), with a combined 76% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +4.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average tall oil fatty acids import price amounted to $X per ton, picking up by 34% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tall oil fatty acids import price increased by +83.7% against 2015 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 supplying countries. In 2021, the highest price was recorded for prices from Germany ($X per ton) and the United Arab Emirates ($X per ton), while the price for Finland ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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