Ireland: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Ireland

The Irish market for oleic, linoleic or linolenic acids, their salts and esters skyrocketed to $X in 2021, with an increase of 56% 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). In general, consumption enjoyed a resilient expansion. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the immediate term.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Ireland

In 2021, the amount of oleic, linoleic or linolenic acids, their salts and esters exported from Ireland soared to X kg, jumping by 429% compared with the year before. In general, exports saw significant growth. The exports peaked at X kg in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids exports shrank significantly to $X in 2021. Overall, exports recorded significant growth. The growth pace was the most rapid in 2015 with an increase of 33,823%. Over the period under review, the exports reached the maximum at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

India (X kg) was the main destination for oleic, linoleic or linolenic acids exports from Ireland, accounting for a 95% share of total exports. Moreover, oleic, linoleic or linolenic acids exports to India exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +2,233.3%.

In value terms, India ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Ireland, comprising 94% of total exports. The second position in the ranking was held by the UK ($X), with a 6.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to India stood at -27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the United States (-33.2% per year).

Export Prices by Country

The average export price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per kg in 2021, with a decrease of -98.6% against the previous year. Overall, the export price, however, continues to indicate significant growth. The growth pace was the most rapid in 2014 when the average export price increased by 160%. Over the period under review, the average export prices reached the peak figure at $X per kg in 2020, and then plummeted in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per kg), while the average price for exports to the United States ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+27.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Ireland

In 2021, purchases abroad of oleic, linoleic or linolenic acids, their salts and esters increased by 82% to X tons, rising for the fifth consecutive year after two years of decline. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 181% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, oleic, linoleic or linolenic acids imports rose remarkably to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 213%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) was the main oleic, linoleic or linolenic acids supplier to Ireland, with a 94% share of total imports. Moreover, oleic, linoleic or linolenic acids imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +167.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+107.8% per year) and the United States (+16.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of oleic, linoleic or linolenic acids, their salts and esters to Ireland, comprising 87% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.1% share of total imports. It was followed by the United States, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +72.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+105.7% per year) and the United States (+22.7% per year).

Import Prices by Country

The average import price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, dropping by -42.1% against the previous year. In general, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 60%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($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 (+51.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :