South-Eastern Asia: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in South-Eastern Asia

The Southeast Asian tall oil fatty acids market skyrocketed to $X in 2021, growing by 84% against the previous year. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Industrial Tall Oil Fatty Acids in South-Eastern Asia

In value terms, tall oil fatty acids production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 199% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports in South-Eastern Asia

For the fourth consecutive year, South-Eastern Asia recorded decline in overseas shipments of industrial tall oil fatty acids, which decreased by -29.4% to X tons in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 193% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, tall oil fatty acids exports dropped to $X in 2021. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 89%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) and Singapore (X tons) represented roughly 83% of total exports in 2021. It was distantly followed by Malaysia (X tons), mixing up a 12% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +4.8%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) remains the largest tall oil fatty acids supplier in South-Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by Indonesia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Singapore totaled +4.5%. In the other countries, the average annual rates were as follows: Malaysia (-10.0% per year) and Indonesia (-21.6% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, increasing by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Industrial Tall Oil Fatty Acids

Imports in South-Eastern Asia

In 2021, overseas purchases of industrial tall oil fatty acids were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 38%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, tall oil fatty acids imports surged to $X in 2021. Total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) represented the key importer of industrial tall oil fatty acids, making up 44% of total imports. It was distantly followed by Malaysia (X tons), Thailand (X tons), Indonesia (X tons) and Vietnam (X tons), together generating a 55% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +19.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 87% share of total imports. These countries were followed by Vietnam and Indonesia, which together accounted for a further 13%.

Vietnam, with a CAGR of +20.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, increasing by 83% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tall oil fatty acids import price increased by +98.0% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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