Thailand: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Thailand

The Thai tall oil fatty acids market expanded notably to $X in 2021, with an increase of 6.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.2% against 2016 indices. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Exports of Industrial Tall Oil Fatty Acids

Exports from Thailand

In 2021, exports of industrial tall oil fatty acids from Thailand surged to X tons, growing by 4,395% compared with 2020 figures. Overall, exports, however, recorded a dramatic decrease. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, tall oil fatty acids exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt descent. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) was the main destination for tall oil fatty acids exports from Thailand, with a 80% share of total exports. Moreover, tall oil fatty acids exports to Nigeria exceeded the volume sent to the second major destination, Myanmar (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Nigeria stood at -13.1%.

In value terms, the largest markets for tall oil fatty acids exported from Thailand were Nigeria ($X) and Myanmar ($X).

Myanmar, with a CAGR of +5.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, increasing by 25% against the previous year. Over the period under review, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 188% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Myanmar ($X per ton), while the average price for exports to Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Tall Oil Fatty Acids

Imports into Thailand

In 2021, the amount of industrial tall oil fatty acids imported into Thailand totaled X tons, increasing by 3.2% compared with the previous year. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 123%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, tall oil fatty acids imports rose notably to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 decreased by -0.6% against 2016 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 108% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest tall oil fatty acids supplier to Thailand, accounting for a 64% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.0% per year) and India (+9.0% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to Thailand, comprising 48% of total imports. The second position in the ranking was held by India ($X), with a 23% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.1% per year) and Japan (+1.0% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, rising by 5.4% against the previous year. In general, the import price, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2020 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Finland ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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