Northern America: Tall Oil Market 2024

Tall Oil Market Size in Northern America

The North American tall oil market stood at $X in 2021, flattening at the previous year. Over the period under review, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Tall Oil Production in Northern America

In value terms, tall oil production shrank slightly to $X in 2021 estimated in export price. In general, production saw a noticeable downturn. The pace of growth appeared the most rapid in 2018 with an increase of 5.5%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Tall Oil Exports

Exports in Northern America

In 2021, tall oil exports in Northern America declined to X tons, waning by -6.2% on 2020 figures. Total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +14.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 33% against the previous year. The volume of export peaked at X tons in 2020, and then declined in the following year.

In value terms, tall oil exports expanded slightly to $X in 2021. Total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.5% against 2015 indices. The growth pace was the most rapid in 2016 with an increase of 17%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, finishing at X tons, which was approx. 97% of total exports in 2021. Canada (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the tall oil exports, with a CAGR of +1.5% from 2012 to 2021. Canada (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +2.6 percentage points.

In value terms, the United States ($X) remains the largest tall oil supplier in Northern America, comprising 98% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.1% share of total exports.

In the United States, tall oil exports expanded at an average annual rate of +1.2% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 20% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.2%).

Tall Oil Imports

Imports in Northern America

In 2021, overseas purchases of tall oil decreased by -16% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, tall oil imports fell to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 63%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States represented the main importing country with an import of about X tons, which recorded 81% of total imports. It was distantly followed by Canada (X tons), generating a 19% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of tall oil. Canada (-10.9%) illustrated a downward trend over the same period. While the share of the United States (+19 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Canada (-19 p.p.) displayed negative dynamics.

In value terms, the United States ($X) and Canada ($X) constituted the countries with the highest levels of imports in 2021.

The United States, with a CAGR of +0.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, surging by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2013 an increase of 43% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+9.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :