Norway: Tall Oil Market 2024

Tall Oil Market Size in Norway

In 2021, the Norwegian tall oil market increased by 13% to $X, rising for the third consecutive year after four years of decline. In general, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +24.0% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Tall Oil Production in Norway

In value terms, tall oil production rose to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 29% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Tall Oil Exports

Exports from Norway

In 2021, tall oil exports from Norway shrank notably to X tons, with a decrease of -62.8% compared with the previous year. In general, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 302%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, tall oil exports shrank dramatically to $X in 2021. Over the period under review, exports showed a dramatic decline. The pace of growth appeared the most rapid in 2018 with an increase of 318%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Sweden (X tons) and the Netherlands (X tons) were the main destinations of tall oil exports from Norway, with a combined 85% share of total exports. These countries were followed by Austria, which accounted for a further 1.4%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of -8.3%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for tall oil exported from Norway were Germany ($X), Sweden ($X) and the Netherlands ($X), with a combined 66% share of total exports. Austria lagged somewhat behind, accounting for a further 1.5%.

Austria, with a CAGR of -8.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average tall oil export price stood at $X per ton in 2021, with an increase of 64% against the previous year. In general, the export price recorded a prominent increase. The growth pace was the most rapid in 2013 an increase of 137%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tall Oil Imports

Imports into Norway

In 2021, supplies from abroad of tall oil increased by 36% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, tall oil imports skyrocketed to $X in 2021. In general, imports continue to indicate a mild expansion. Imports peaked at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of tall oil to Norway, accounting for a 32% share of total imports. Moreover, tall oil imports from Sweden exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by the Netherlands (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden amounted to -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.1% per year) and the Netherlands (+57.5% per year).

In value terms, Sweden ($X) constituted the largest supplier of tall oil to Norway, comprising 32% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 7.7% share of total imports. It was followed by Italy, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+56.2% per year) and Italy (+14.8% per year).

Import Prices by Country

The average tall oil import price stood at $X per ton in 2021, growing by 9.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 12%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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