Saudi Arabia: Chemically Modified Oils Market 2025

Chemically Modified Oils Market Size in Saudi Arabia

The Saudi chemically modified oils market rose sharply to $X in 2022, growing by 6.5% against the previous year. Overall, consumption recorded a buoyant expansion. Chemically modified oils consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chemically Modified Oils Production in Saudi Arabia

In value terms, chemically modified oils production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chemically Modified Oils Exports

Exports from Saudi Arabia

In 2022, after five years of growth, there was significant decline in shipments abroad of animal or vegetable fats and oils chemically modified, when their volume decreased by -9.9% to X tons. Overall, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 98% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, chemically modified oils exports declined notably to $X in 2022. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 84%. As a result, the exports reached the peak of $X, and then contracted notably in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Saudi Arabia, with a 46% share of total exports. It was followed by the UK (X tons), with a 1.4% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-10.8% per year) and Germany (-30.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Saudi Arabia, comprising 47% of total exports. The second position in the ranking was held by the UK ($X), with a 1.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-11.6% per year) and Germany (-28.7% per year).

Export Prices by Country

The average chemically modified oils export price stood at $X per ton in 2022, declining by -14.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 47%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 (+1.8%), while the prices for the other major destinations experienced a decline.

Chemically Modified Oils Imports

Imports into Saudi Arabia

In 2014, the amount of animal or vegetable fats and oils chemically modified imported into Saudi Arabia soared to X tons, jumping by 213% on the previous year's figure. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chemically modified oils imports soared to $X in 2014. In general, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2014, Malaysia (X tons) constituted the largest chemically modified oils supplier to Saudi Arabia, with a 72% share of total imports. Moreover, chemically modified oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold.

From 2012 to 2014, the average annual rate of growth in terms of volume from Malaysia totaled +38.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Belgium (0.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Saudi Arabia, comprising 58% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports.

From 2012 to 2014, the average annual rate of growth in terms of value from Malaysia amounted to +42.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Belgium (0.0% per year).

Import Prices by Country

In 2014, the average chemically modified oils import price amounted to $X per ton, which is down by -2.7% against the previous year. Over the last two years, it increased at an average annual rate of +12.7%. The pace of growth was the most pronounced in 2013 an increase of 31%. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2014, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by Belgium (+18.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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