Southern Asia: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Southern Asia

The South Asian chemically modified oils market dropped to $X in 2022, with a decrease of -3.1% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.2% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chemically Modified Oils Production in Southern Asia

In value terms, chemically modified oils production contracted modestly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.5% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 35%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Chemically Modified Oils Exports

Exports in Southern Asia

In 2022, shipments abroad of animal or vegetable fats and oils chemically modified increased by 6.7% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, saw a pronounced slump. The pace of growth was the most pronounced in 2017 with an increase of 51%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, chemically modified oils exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan represented the largest exporter of animal or vegetable fats and oils chemically modified in Southern Asia, with the volume of exports recording X tons, which was near 75% of total exports in 2022. It was distantly followed by India (X tons), mixing up a 24% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils exports from Pakistan stood at -4.2%. At the same time, India (+6.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +6.6% from 2012-2022. India (+14 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -14.6% from 2012 to 2022, respectively.

In value terms, Pakistan ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2022.

India, with a CAGR of +4.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, rising by 3.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2013 an increase of 15%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+2.4%).

Chemically Modified Oils Imports

Imports in Southern Asia

In 2022, the amount of animal or vegetable fats and oils chemically modified imported in Southern Asia fell to X tons, dropping by -3.9% compared with 2021 figures. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 69%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, chemically modified oils imports declined slightly to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 51% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Afghanistan (X tons) represented roughly 98% of total imports in 2022.

Afghanistan was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified imports, with a CAGR of +6.1% from 2012 to 2022. Afghanistan (+4.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in Afghanistan amounted to +7.4%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2015 when the import price increased by 9.6%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Afghanistan.

From 2012 to 2022, the rate of growth in terms of prices for Afghanistan amounted to +1.2% per year.

Source: IndexBox Platform

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