Russian Federation: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in the Russian Federation

In 2021, the Russian tall oil fatty acids market decreased by -16.7% to $X, falling for the fifth year in a row after two years of growth. Over the period under review, consumption showed a noticeable decrease. Tall oil fatty acids consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from the Russian Federation

After two years of growth, shipments abroad of industrial tall oil fatty acids decreased by -40.7% to X tons in 2021. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of 1,008%. The exports peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, tall oil fatty acids exports shrank markedly to $X in 2021. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 1,067%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for tall oil fatty acids exports from Russia, with a 68% share of total exports. Moreover, tall oil fatty acids exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X tons), twofold. Georgia (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan amounted to +50.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+28.4% per year) and Georgia (0.0% per year).

In value terms, the largest markets for tall oil fatty acids exported from Russia were Kazakhstan ($X), Belarus ($X) and Egypt ($X), with a combined 98% share of total exports.

Kazakhstan, with a CAGR of +38.8%, recorded 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 more modest paces of growth.

Export Prices by Country

In 2021, the average tall oil fatty acids export price amounted to $X per ton, surging by 4.7% against the previous year. In general, the export price, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 20% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Belarus ($X per ton), while the average price for exports to Kazakhstan ($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 Belarus (-0.3%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Tall Oil Fatty Acids

Imports into the Russian Federation

In 2021, overseas purchases of industrial tall oil fatty acids decreased by -27.7% to X tons, falling for the fifth year in a row after two years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 390% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, tall oil fatty acids imports dropped to $X in 2021. Overall, imports showed a noticeable contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 198% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Finland (X tons) constituted the largest supplier of tall oil fatty acids to Russia, accounting for a 69% share of total imports. Moreover, tall oil fatty acids imports from Finland exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold. The UK (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Finland totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.4% per year) and the UK (-11.3% per year).

In value terms, Finland ($X) constituted the largest supplier of industrial tall oil fatty acids to Russia, comprising 64% of total imports. The second position in the ranking was taken by France ($X), with a 9.1% share of total imports. It was followed by Latvia, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Finland amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.7% per year) and Latvia (+30.1% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, growing by 20% against the previous year. Over the period under review, the import price, however, showed a perceptible reduction. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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