South-Eastern Asia: Tall Oil Market 2024

Tall Oil Market Size in South-Eastern Asia

The Southeast Asian tall oil market expanded rapidly to $X in 2021, growing by 7.3% against the previous year. In general, consumption, however, recorded a perceptible reduction. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Tall Oil Production in South-Eastern Asia

In value terms, tall oil production surged to $X in 2021 estimated in export price. Overall, production, however, showed a slight reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 142% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Tall Oil Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of tall oil decreased by -15.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt decrease. The growth pace was the most rapid in 2019 when exports increased by 141%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, tall oil exports shrank to $X in 2021. Overall, exports showed a perceptible reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 164% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the main exporting country with an export of about X tons, which recorded 45% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 28% share, followed by Indonesia (19%) and Singapore (7.6%).

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +4.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest tall oil supplying countries in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Thailand ($X), with a combined 90% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of +9.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, increasing by 8.1% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +10.8% 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 export price increased by +46.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 164%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+21.0%), while the other leaders experienced more modest paces of growth.

Tall Oil Imports

Imports in South-Eastern Asia

Tall oil imports soared to X tons in 2021, picking up by 19% against 2020 figures. Overall, imports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of 36%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, tall oil imports rose rapidly to $X in 2021. Over the period under review, imports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the main importer of tall oil in South-Eastern Asia, with the volume of imports reaching X tons, which was approx. 69% of total imports in 2021. Thailand (X tons) held the second position in the ranking, followed by Indonesia (X tons) and Singapore (X tons). All these countries together held near 27% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to tall oil imports into Malaysia stood at +12.9%. At the same time, Vietnam (+18.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +18.9% from 2012-2021. Indonesia and Thailand experienced a relatively flat trend pattern. By contrast, Singapore (-27.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, Vietnam, Indonesia and Thailand increased by +52, +3.1, +3.1 and +3.1 percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported tall oil in South-Eastern Asia, comprising 45% of total imports. The second position in the ranking was taken by Thailand ($X), with a 22% share of total imports. It was followed by Indonesia, with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to +2.7%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-1.5% per year) and Indonesia (+0.8% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, which is down by -4.5% against the previous year. In general, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2019 when the import price increased by 10%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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