Scandinavia: Chemically Modified Oils Market 2025

Chemically Modified Oils Market Size in Scandinavia

In 2022, the Scandinavia chemically modified oils market increased by 120% to $X, rising for the second year in a row after three years of decline. In general, consumption posted a significant expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Chemically Modified Oils Production in Scandinavia

In value terms, chemically modified oils production surged to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The growth pace was the most rapid in 2013 when the production volume increased by 1,273% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Chemically Modified Oils Exports

Exports in Scandinavia

In 2022, shipments abroad of animal or vegetable fats and oils chemically modified increased by 31% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 100%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, chemically modified oils exports soared to $X in 2022. Overall, exports saw a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 87% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, Sweden (X tons) and Norway (X tons) represented the key exporters of animal or vegetable fats and oils chemically modified in Scandinavia, together generating 87% of total exports. It was distantly followed by Finland (X tons), generating a 13% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of +31.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Sweden, with a CAGR of +26.8%, recorded the highest growth rate of 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 export price in Scandinavia stood at $X per ton in 2022, picking up by 35% against the previous year. Over the period under review, the export price posted a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+8.4%), while the other leaders experienced mixed trends in the export price figures.

Chemically Modified Oils Imports

Imports in Scandinavia

In 2022, supplies from abroad of animal or vegetable fats and oils chemically modified increased by 108% to X tons, rising for the second consecutive year after four years of decline. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 405%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, chemically modified oils imports surged to $X in 2022. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 424%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Finland was the key importing country with an import of about X tons, which amounted to 63% of total imports. Sweden (X tons) held the second position in the ranking, distantly followed by Norway (X tons). All these countries together held approx. 37% share of total imports.

Finland was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified imports, with a CAGR of +59.7% from 2012 to 2022. At the same time, Sweden (+38.8%) displayed positive paces of growth. By contrast, Norway (-2.1%) illustrated a downward trend over the same period. Finland (+57 p.p.) and Sweden (+19 p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by -75.4% from 2012 to 2022, respectively.

In value terms, Finland ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Scandinavia, comprising 67% of total imports. The second position in the ranking was held by Sweden ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Finland stood at +62.7%. In the other countries, the average annual rates were as follows: Sweden (+35.0% per year) and Norway (+6.4% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 13% against the previous year. Overall, the import price saw a temperate expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by 55%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+8.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform