Norway: Chemically Modified Oils Market 2025

Chemically Modified Oils Market Size in Norway

The Norwegian chemically modified oils market skyrocketed to $X in 2022, surging by 89% against the previous year. Overall, consumption showed buoyant growth. Chemically modified oils consumption peaked in 2022 and is likely to see gradual growth in the near future.

Chemically Modified Oils Production in Norway

In value terms, chemically modified oils production fell slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 65%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chemically Modified Oils Exports

Exports from Norway

In 2022, shipments abroad of animal or vegetable fats and oils chemically modified was finally on the rise to reach X tons after three years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. In general, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for chemically modified oils exports from Norway, accounting for a 90% share of total exports. Moreover, chemically modified oils exports to Sweden exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Lithuania (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +65.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+62.2% per year) and Lithuania (+50.4% per year).

In value terms, Sweden ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Norway, comprising 94% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 2.9% share of total exports. It was followed by Lithuania, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +74.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+42.8% per year) and Lithuania (+46.7% per year).

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, increasing by 47% against the previous year. Overall, the export price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 an increase of 49%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Chemically Modified Oils Imports

Imports into Norway

In 2022, chemically modified oils imports into Norway soared to X tons, jumping by 165% on 2021 figures. Over the period under review, imports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2021 when imports increased by 728% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, chemically modified oils imports surged to $X in 2022. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 848%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest chemically modified oils supplier to Norway, with a 59% share of total imports. Moreover, chemically modified oils imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by Sweden (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at +155.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+24.5% per year) and Sweden (+16.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Norway, comprising 57% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 26% share of total imports. It was followed by Sweden, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +155.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+61.1% per year) and Sweden (+15.1% per year).

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, growing by 33% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemically modified oils import price increased by +167.2% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 75%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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