Scandinavia: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Scandinavia

For the third year in a row, the Scandinavia tall oil fatty acids market recorded decline in sales value, which decreased by -26.1% to $X in 2021. Over the period under review, consumption, however, showed a mild expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Industrial Tall Oil Fatty Acids in Scandinavia

In value terms, tall oil fatty acids production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Industrial Tall Oil Fatty Acids

Exports in Scandinavia

In 2021, exports of industrial tall oil fatty acids in Scandinavia stood at X tons, with an increase of 10% against the previous year. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 27%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, tall oil fatty acids exports surged to $X in 2021. Overall, exports, however, showed a slight contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 25%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Finland represented the largest exporting country with an export of around X tons, which finished at 67% of total exports. It was distantly followed by Sweden (X tons), constituting a 33% share of total exports.

Finland experienced a relatively flat trend pattern with regard to volume of exports of industrial tall oil fatty acids. Sweden experienced a relatively flat trend pattern. While the share of Finland (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sweden (-2.1 p.p.) displayed negative dynamics.

In value terms, the largest tall oil fatty acids supplying countries in Scandinavia were Finland ($X) and Sweden ($X).

Finland, with a CAGR of -0.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, surging by 4.8% against the previous year. Overall, the export price, however, showed a mild setback. The pace of growth appeared the most rapid in 2015 an increase of 21% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Sweden ($X per ton), while Finland amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (-1.3%).

Imports of Industrial Tall Oil Fatty Acids

Imports in Scandinavia

For the third year in a row, Scandinavia recorded decline in purchases abroad of industrial tall oil fatty acids, which decreased by -42.9% to X tons in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 375%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, tall oil fatty acids imports dropped sharply to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 245% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Norway (X tons) and Sweden (X tons) represented roughly 86% of total imports in 2021. It was distantly followed by Denmark (X tons), mixing up a 12% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sweden (with a CAGR of +6.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Norway ($X), Sweden ($X) and Denmark ($X) constituted the countries with the highest levels of imports in 2021, together comprising 98% of total imports.

Sweden, with a CAGR of +5.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, jumping by 32% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform