United Arab Emirates: Tall Oil Market 2024

Tall Oil Market Size in the United Arab Emirates

The tall oil market in the United Arab Emirates shrank to $X in 2021, falling by -6.4% against the previous year. Overall, consumption continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2019 when the market value increased by 7.9% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Tall Oil Production in the United Arab Emirates

In value terms, tall oil production contracted slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 17%. Tall oil production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Tall Oil Exports

Exports from the United Arab Emirates

For the third year in a row, the United Arab Emirates recorded growth in shipments abroad of tall oil, which increased by 146% to X tons in 2021. In general, exports continue to indicate a temperate expansion. The growth pace was the most rapid in 2017 when exports increased by 6,396%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, tall oil exports skyrocketed to $X in 2021. Overall, exports saw a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 6,474% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kuwait (X tons) was the main destination for tall oil exports from the United Arab Emirates, with a 47% share of total exports. Moreover, tall oil exports to Kuwait exceeded the volume sent to the second major destination, China (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Kuwait stood at +220.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and India (+0.1% per year).

In value terms, Kuwait ($X) remains the key foreign market for tall oil exports from the United Arab Emirates, comprising 44% of total exports. The second position in the ranking was held by China ($X), with a 4.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kuwait stood at +135.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and India (-0.7% per year).

Export Prices by Country

In 2021, the average tall oil export price amounted to $X per ton, rising by 28% against the previous year. In general, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tall oil export price increased by +29.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China ($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 Democratic Republic of the Congo (+10.5%), while the prices for the other major destinations experienced a decline.

Tall Oil Imports

Imports into the United Arab Emirates

In 2021, after two years of decline, there was significant growth in overseas purchases of tall oil, when their volume increased by 10% to X tons. In general, imports, however, showed a deep downturn. The growth pace was the most rapid in 2014 when imports increased by 37% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, tall oil imports rose rapidly to $X in 2021. Overall, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 61%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest tall oil supplier to the United Arab Emirates, with a 49% share of total imports. Moreover, tall oil imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +5.3%.

In value terms, Italy ($X) constituted the largest supplier of tall oil to the United Arab Emirates, comprising 45% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +3.1%.

Import Prices by Country

The average tall oil import price stood at $X per ton in 2021, rising by 1.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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