MENA: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in MENA

In 2021, the MENA's tall oil fatty acids market increased by 58% to $X for the first time since 2016, thus ending a four-year declining trend. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Industrial Tall Oil Fatty Acids in MENA

In value terms, tall oil fatty acids production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt slump. The pace of growth was the most pronounced in 2017 when the production volume increased by 39%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports in MENA

For the third year in a row, MENA recorded growth in overseas shipments of industrial tall oil fatty acids, which increased by 7.4% to X tons in 2021. In general, exports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 181%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, tall oil fatty acids exports totaled $X in 2021. Overall, exports, however, continue to indicate a mild setback. The growth pace was the most rapid in 2020 with an increase of 205%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) and Egypt (X tons) represented the main exporters of industrial tall oil fatty acids in 2021, reaching near 41% and 38% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), comprising an 11% share of total exports. The following exporters - Algeria (X tons), Iran (X tons) and Turkey (X tons) - together made up 9% 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 Turkey (with a CAGR of +42.9%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) remains the largest tall oil fatty acids supplier in MENA, comprising 49% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

In Egypt, tall oil fatty acids exports increased at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-10.1% per year) and the United Arab Emirates (+3.6% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, falling by -4.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2015 an increase of 38% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Tall Oil Fatty Acids

Imports in MENA

In 2021, overseas purchases of industrial tall oil fatty acids increased by 49% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 93%. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, tall oil fatty acids imports skyrocketed to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 99%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the largest importer of industrial tall oil fatty acids, constituting 40% of total imports. Saudi Arabia (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons) and Israel (X tons). All these countries together held near 50% share of total imports. The following importers - Egypt (X tons) and Algeria (X tons) - together made up 5.3% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tall oil fatty acids importing markets in MENA were Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 85% share of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +30.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, with an increase of 16% against the previous year. In general, the import price, however, saw a mild setback. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while Algeria ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform