United Kingdom: 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 the UK

In 2021, the UK market for oleic, linoleic or linolenic acids, their salts and esters increased by 25% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 increased by +52.9% against 2016 indices. Oleic, linoleic or linolenic acids consumption peaked in 2021 and is likely to see gradual growth in the near future.

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

In value terms, oleic, linoleic or linolenic acids production declined slightly to $X in 2021 estimated in export price. Over the period under review, production showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports from the UK

In 2021, overseas shipments of oleic, linoleic or linolenic acids, their salts and esters decreased by -45.1% to X tons, falling for the third year in a row after three years of growth. Overall, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 11% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids exports reduced markedly to $X in 2021. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 16%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for oleic, linoleic or linolenic acids exports from the UK, accounting for a 44% share of total exports. Moreover, oleic, linoleic or linolenic acids exports to the Netherlands exceeded the volume sent to the second major destination, South Africa (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands stood at +77.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-7.5% per year) and Germany (-8.3% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from the UK, comprising 39% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports. It was followed by South Africa, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled +91.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.2% per year) and South Africa (-10.6% per year).

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 32% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to South Africa ($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 Sweden (+10.4%), 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 the UK

In 2021, approx. X tons of oleic, linoleic or linolenic acids, their salts and esters were imported into the UK; rising by 1.8% compared with the year before. In general, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 65%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids imports rose notably to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 34%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of oleic, linoleic or linolenic acids imports to the UK, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +15.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Belgium ($X) and Germany ($X) were the largest oleic, linoleic or linolenic acids suppliers to the UK, together comprising 48% of total imports.

Italy, with a CAGR of +16.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oleic, linoleic or linolenic acids, their salts and esters stood at $X per ton in 2021, picking up by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :