Romania: Linseed Oil Market 2024

Linseed Oil Market Size in Romania

In 2022, the Romanian linseed oil market decreased by -0.1% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a mild descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Linseed Oil Production in Romania

In value terms, linseed oil production rose notably to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.9% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 111%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Linseed Oil Exports

Exports from Romania

In 2022, the amount of linseed oil exported from Romania soared to X tons, increasing by 87% on the previous year's figure. In general, exports showed a significant increase. The growth pace was the most rapid in 2016 when exports increased by 11,850% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, linseed oil exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 7,491%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons), Bulgaria (X tons) and Switzerland (X tons) were the main destinations of linseed oil exports from Romania, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +52.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linseed oil exported from Romania were Italy ($X), Switzerland ($X) and Bulgaria ($X), with a combined 92% share of total exports. These countries were followed by France, which accounted for a further 7.4%.

In terms of the main countries of destination, France, with a CAGR of +40.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, falling by -22.3% against the previous year. In general, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 111% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Bulgaria ($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 France (+44.5%), while the prices for the other major destinations experienced mixed trend patterns.

Linseed Oil Imports

Imports into Romania

In 2022, the amount of linseed oil imported into Romania soared to X tons, picking up by 16% compared with 2021. Overall, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports dropped to $X in 2022. In general, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 105% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of linseed oil imports to Romania, with a combined 87% share of total imports. Italy, Syrian Arab Republic and Ukraine lagged somewhat behind, together comprising a further 7.5%.

From 2012 to 2022, the biggest increases were recorded for Syrian Arab Republic (with a CAGR of +246.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) constituted the largest linseed oil suppliers to Romania, with a combined 80% share of total imports. Italy, Ukraine and Syrian Arab Republic lagged somewhat behind, together comprising a further 7.3%.

Syrian Arab Republic, with a CAGR of +321.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, declining by -21.1% against the previous year. Over the period under review, the import price, however, posted a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 74%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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