MENA: Tall Oil Market 2024

Tall Oil Market Size in MENA

The MENA's tall oil market totaled $X in 2021, picking up by 4.7% against the previous year. In general, consumption, however, showed a pronounced slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Tall Oil Production in MENA

In value terms, tall oil production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced setback. The pace of growth was the most pronounced in 2019 with an increase of 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tall Oil Exports

Exports in MENA

In 2021, approx. X tons of tall oil were exported in MENA; picking up by 54% against the year before. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 86% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, tall oil exports surged to $X in 2021. In general, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 137%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey was the main exporter of tall oil in MENA, with the volume of exports accounting for X tons, which was near 56% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Israel (X tons), together making up a 38% share of total exports. The following exporters - Egypt (X tons) and Tunisia (X tons) - together made up 5.9% of total exports.

Turkey was also the fastest-growing in terms of the tall oil exports, with a CAGR of +74.5% from 2012 to 2021. At the same time, Saudi Arabia (+70.8%), Israel (+31.0%), the United Arab Emirates (+2.2%) and Egypt (+1.2%) displayed positive paces of growth. By contrast, Tunisia (-3.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Saudi Arabia and Israel increased by +54, +12 and +6.2 percentage points, respectively.

In value terms, the largest tall oil supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), with a combined 82% share of total exports.

Saudi Arabia, with a CAGR of +73.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 28% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Tall Oil Imports

Imports in MENA

Tall oil imports skyrocketed to X tons in 2021, growing by 16% compared with the previous year. Over the period under review, imports, however, saw a slight setback. The pace of growth appeared the most rapid in 2013 with an increase of 24% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, tall oil imports surged to $X in 2021. In general, imports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey represented the largest importing country with an import of around X tons, which finished at 45% of total imports. Algeria (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (11%), Kuwait (10%), Oman (9.4%) and Israel (5.3%). Tunisia (X tons) took a little share of total imports.

Imports into Turkey increased at an average annual rate of +10.0% from 2012 to 2021. At the same time, Tunisia (+23.5%), Oman (+3.3%) and Kuwait (+2.3%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in MENA, with a CAGR of +23.5% from 2012-2021. By contrast, Algeria (-4.6%), Israel (-8.7%) and the United Arab Emirates (-9.1%) illustrated a downward trend over the same period. While the share of Turkey (+28 p.p.), Tunisia (+3.8 p.p.), Oman (+3 p.p.) and Kuwait (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Algeria (-4.6 p.p.), Israel (-5.6 p.p.) and the United Arab Emirates (-12.9 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported tall oil in MENA, comprising 44% of total imports. The second position in the ranking was taken by Oman ($X), with a 14% share of total imports. It was followed by Algeria, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +6.9%. In the other countries, the average annual rates were as follows: Oman (+9.2% per year) and Algeria (-7.4% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, with an increase of 4.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 9.2%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform