U.S.: Tall Oil Market 2024

Tall Oil Market Size in the U.S.

The U.S. tall oil market declined modestly to $X in 2021, leveling off at the previous year. Over the period under review, consumption recorded a deep reduction. Tall oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Tall Oil Production in the U.S.

In value terms, tall oil production dropped to $X in 2021. Over the period under review, production showed a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 6.1% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Tall Oil Exports

Exports from the U.S.

In 2021, exports of tall oil from the United States declined to X tons, waning by -6.3% against 2020. In general, total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +15.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, tall oil exports rose slightly to $X in 2021. Overall, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +82.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for tall oil exports from the United States, with a 41% share of total exports. Moreover, tall oil exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), twofold. France (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-0.4% per year) and France (+36.9% per year).

In value terms, Sweden ($X) emerged as the key foreign market for tall oil exports from the United States, comprising 41% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by France, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Sweden stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.4% per year) and France (+36.9% per year).

Export Prices by Country

The average tall oil export price stood at $X per ton in 2021, rising by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Finland ($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 Canada (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Tall Oil Imports

Imports into the U.S.

In 2021, after two years of growth, there was significant decline in supplies from abroad of tall oil, when their volume decreased by -20.8% to X tons. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 45%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, tall oil imports contracted to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 120% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Canada (X tons), Brazil (X tons) and Sweden (X tons) were the main suppliers of tall oil imports to the United States, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +40.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest tall oil suppliers to the United States were Canada ($X), Brazil ($X) and Sweden ($X), together comprising 94% of total imports.

Among the main suppliers, Brazil, with a CAGR of +23.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average tall oil import price amounted to $X per ton, growing by 8.1% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% 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 import price decreased by -9.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of 52% against the previous year. The import price peaked 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, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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