Global Tall Oil Market 2024

Tall Oil Market Size

The global tall oil market rose to $X in 2021, with an increase of 1.5% against the previous year. In general, consumption, however, continues to indicate a pronounced contraction. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the global market failed to regain momentum.

Tall Oil Production

In value terms, tall oil production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when the production volume increased by 3.8% against the previous year. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Tall Oil Exports

Exports

In 2021, overseas shipments of tall oil increased by 5.2% to X tons, rising for the second year in a row after two years of decline. Overall, total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% 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 +29.5% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 28%. Over the period under review, the global exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, tall oil exports surged to $X in 2021. In general, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 +120.0% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States was the largest exporter of tall oil in the world, with the volume of exports resulting at X tons, which was approx. 54% of total exports in 2021. Finland (X tons) held the second position in the ranking, followed by Sweden (X tons) and Russia (X tons). All these countries together took near 31% share of total exports. The following exporters - Belarus (X tons), Brazil (X tons) and Germany (X tons) - together made up 7.5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to tall oil exports from the United States stood at +1.5%. At the same time, Belarus (+125.4%), Brazil (+39.9%), Sweden (+13.8%) and Russia (+6.1%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the world, with a CAGR of +125.4% from 2012-2021. Finland experienced a relatively flat trend pattern. By contrast, Germany (-8.7%) illustrated a downward trend over the same period. Sweden (+5.9 p.p.), Belarus (+3.3 p.p.), Russia (+2.3 p.p.) and Brazil (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Germany, Finland and the United States saw its share reduced by -3.3%, -3.4% and -4.3% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest tall oil supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by Finland ($X), with a 16% share of global exports. It was followed by Sweden, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +1.2%. In the other countries, the average annual rates were as follows: Finland (+2.4% per year) and Sweden (+8.2% per year).

Export Prices by Country

In 2021, the average tall oil export price amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The global export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.5%), while the other global leaders experienced more modest paces of growth.

Tall Oil Imports

Imports

For the third consecutive year, the global market recorded growth in overseas purchases of tall oil, which increased by 2.9% to X tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Over the period under review, global imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, tall oil imports surged to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Global imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Finland (X tons) represented the key importer of tall oil, generating 39% of total imports. France (X tons) ranks second in terms of the total imports with a 16% share, followed by Japan (12%), Austria (8.4%) and China (5.5%). The United States (X tons) and Russia (X tons) followed a long way behind the leaders.

Imports into Finland increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Russia (+35.9%), France (+19.4%) and China (+4.8%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +35.9% from 2012-2021. Austria and the United States experienced a relatively flat trend pattern. By contrast, Japan (-3.5%) illustrated a downward trend over the same period. Finland (+15 p.p.), France (+13 p.p.), Russia (+2.6 p.p.) and China (+2 p.p.) significantly strengthened its position in terms of the global imports, while Japan saw its share reduced by -4.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tall oil importing markets worldwide were Finland ($X), France ($X) and Japan ($X), with a combined 58% share of global imports.

France, with a CAGR of +17.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average tall oil import price stood at $X per ton in 2021, surging by 13% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+2.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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