Spain: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Spain

The Spanish market for oleic, linoleic or linolenic acids, their salts and esters skyrocketed to $X in 2021, increasing by 48% against the previous year. Overall, consumption showed a strong expansion. Oleic, linoleic or linolenic acids consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Spain

In value terms, oleic, linoleic or linolenic acids production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Spain

In 2021, after three years of decline, there was significant growth in shipments abroad of oleic, linoleic or linolenic acids, their salts and esters, when their volume increased by 18% to X tons. Over the period under review, exports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by 55% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, oleic, linoleic or linolenic acids exports soared to $X in 2021. In general, exports, however, showed a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of oleic, linoleic or linolenic acids exports from Spain, with a combined 67% share of total exports. These countries were followed by Turkey, Saudi Arabia, Mexico, the Netherlands, Algeria, Portugal, the UK and Belgium, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Algeria (with a CAGR of +44.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oleic, linoleic or linolenic acids exported from Spain were Italy ($X), Germany ($X) and France ($X), with a combined 61% share of total exports. Turkey, Mexico, the UK, Saudi Arabia, Portugal, the Netherlands, Algeria and Belgium lagged somewhat behind, together comprising a further 23%.

Algeria, with a CAGR of +55.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, jumping by 31% against the previous year. Over the period under review, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oleic, linoleic or linolenic acids export price increased by +17.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 49% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Spain

In 2021, imports of oleic, linoleic or linolenic acids, their salts and esters into Spain skyrocketed to X tons, with an increase of 29% against the year before. In general, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.3% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oleic, linoleic or linolenic acids imports soared to $X in 2021. Over the period under review, imports posted tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of oleic, linoleic or linolenic acids to Spain, with a 61% share of total imports. Moreover, oleic, linoleic or linolenic acids imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was taken by Austria (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.1% per year) and Austria (+410.8% per year).

In value terms, Italy ($X) constituted the largest supplier of oleic, linoleic or linolenic acids, their salts and esters to Spain, comprising 54% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Austria, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.1% per year) and Austria (+467.8% per year).

Import Prices by Country

In 2021, the average import price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, increasing by 50% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. 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 supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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