Southern Asia: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in Southern Asia

In 2021, the South Asian industrial oleic acid market decreased by -1.4% to $X, falling for the second consecutive year after six years of growth. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Industrial Oleic Acid Production in Southern Asia

In value terms, industrial oleic acid production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Industrial Oleic Acid Exports

Exports in Southern Asia

In 2021, approx. X tons of industrial oleic acid were exported in Southern Asia; jumping by 89% compared with the year before. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 166%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, industrial oleic acid exports skyrocketed to $X in 2021. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2013 with an increase of 145% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together reaching 100% of total export.

India was also the fastest-growing in terms of the industrial oleic acid exports, with a CAGR of +7.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest industrial oleic acid supplier in Southern Asia.

In India, industrial oleic acid exports increased at an average annual rate of +7.9% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, surging by 1.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 17% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +0.1% per year.

Industrial Oleic Acid Imports

Imports in Southern Asia

In 2021, the amount of industrial oleic acid imported in Southern Asia amounted to X tons, picking up by 6.3% against the previous year's figure. Overall, imports showed a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 53%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, industrial oleic acid imports surged to $X in 2021. Over the period under review, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, reaching X tons, which was near 96% of total imports in 2021. Pakistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +12.4% from 2012 to 2021. At the same time, Pakistan (+12.5%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +12.5% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported industrial oleic acid in Southern Asia, comprising 96% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 2.8% share of total imports.

In India, industrial oleic acid imports expanded at an average annual rate of +13.7% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 68% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid import price increased by +94.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.1%).

Source: IndexBox Platform

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