Malaysia: Chemically Modified Oils Market 2025

Chemically Modified Oils Market Size in Malaysia

In 2022, after five years of growth, there was decline in the Malaysian chemically modified oils market, when its value decreased by -0.4% to $X. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.9% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped modestly in the following year.

Chemically Modified Oils Production in Malaysia

In value terms, chemically modified oils production dropped to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 470%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports from Malaysia

In 2022, after four years of growth, there was significant decline in shipments abroad of animal or vegetable fats and oils chemically modified, when their volume decreased by -17.7% to X tons. Overall, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2015 when exports increased by 980% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, chemically modified oils exports fell significantly to $X in 2022. In general, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 965%. The exports peaked at $X in 2021, and then shrank markedly in the following year.

Exports by Country

The Netherlands (X tons), Afghanistan (X tons) and Singapore (X tons) were the main destinations of chemically modified oils exports from Malaysia, with a combined 81% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +69.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chemically modified oils exported from Malaysia were Afghanistan ($X), the Netherlands ($X) and Singapore ($X), together accounting for 80% of total exports.

Singapore, with a CAGR of +59.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, shrinking by -9.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 34% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Singapore ($X per ton) and Afghanistan ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Chemically Modified Oils Imports

Imports into Malaysia

In 2022, chemically modified oils imports into Malaysia surged to X tons, with an increase of 21% against the previous year. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 758% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports rose notably to $X in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 578% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of chemically modified oils imports to Malaysia, together accounting for 76% of total imports. Switzerland, Singapore, Canada and Taiwan (Chinese) lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +91.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Vietnam ($X) constituted the largest chemically modified oils suppliers to Malaysia, with a combined 78% share of total imports. Switzerland, Singapore, Taiwan (Chinese) and Canada lagged somewhat behind, together accounting for a further 16%.

Switzerland, with a CAGR of +73.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, dropping by -10.3% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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