Chemically modified fats and oils market in Northern Europe

Earlier Report Observations

The market for chemically modified fats and oils in Northern Europe experienced significant volatility between 2018 and 2023. After starting at 590 thousand tons in 2018, market volume declined for two consecutive years, reaching a low of 452 thousand tons in 2020. This was followed by a recovery in 2021, with the market rising to 524 thousand tons.

The most dramatic shift occurred in 2022, when the market size surged by 60% to 838 thousand tons. This expansion was primarily fueled by a sharp increase in imports, which more than doubled compared to the previous year. In 2023, growth stabilized, with the market reaching 855 thousand tons, indicating a consolidation phase after the previous year's spike.

Production chemically modified fats and oils in Northern Europe

In kind, 2017-2020, t

Top producers of chemically modified fats and oils, 2017-2020

World map of production of chemically modified fats and oils, 2017-2020

In 2020, Northern Europe produced 63 319 tonnes of chemically modified fats and oils, marking a 21.8% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 25.2%, with a compound annual growth rate (CAGR) of -9.2%. The largest annual increase occurred in 2019, when production rose by 3.4%.

Annual dynamics of production in Northern Europe in kind, 2017-2020, t

Exports chemically modified fats and oils from Northern Europe

Exports in kind, K t

After two years of growth, exports of chemically modified fats and oils from Northern Europe declined in 2020. The region exported 149.0 thousand tonnes that year, representing a significant drop of 21.8% from 2019. Between 2017 and 2020, exports overall increased by 3.8%, which translates to an annualized growth rate of 1.3%. The peak export volume was recorded in 2019 at 190.5 thousand tonnes, with the largest annual increase of 20.2% also occurring that year.

Annual dynamics of product's exports from Northern Europe in kind, 2017-2020, K t

From 2017 to 2020, the Netherlands, Belgium, and Germany were the top buyers of chemically modified fats and oils from Northern Europe. The Netherlands accounted for 29.4% of exports in volume, Belgium for 17.2%, and Germany for 11.3%. Together, these three countries made up 58.0% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Northern Europe in kind, 2017-2020

Exports in value, M $ US

Northern Europe's exports of chemically modified fats and oils in value terms grew for the second consecutive year in 2020. The region exported 164.1 million US dollars worth of these products, showing a 5.5% increase compared to 2019. Over the 2017-2020 period, export value rose by 34.8%, with a CAGR of 10.5%. The lowest value was recorded in 2018 at 108.5 million US dollars, which also saw the largest annual decline of 10.8%. In contrast, 2019 experienced the largest annual increase of 43.3%.

Annual dynamics of product's exports from Northern Europe in value, 2017-2020, M $ US

Between 2017 and 2020, the Netherlands, Belgium, and Germany were the primary buyers of chemically modified fats and oils from Northern Europe in value terms. The Netherlands held a 28.7% share of exports by value, Belgium 16.7%, and Germany 11.5%. Collectively, these three countries accounted for 56.9% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Northern Europe in value, 2017-2020

Imports chemically modified fats and oils to Northern Europe

Imports in kind, K t

Imports of chemically modified fats and oils into Northern Europe decreased for the second year in a row in 2020. The region imported 538.0 thousand tonnes, down 18.5% from the previous year. From 2017 to 2020, imports fell by 14%, equating to an annualized decline of 4.9%. The highest import volume was in 2018 at 670.2 thousand tonnes, which also saw the largest annual increase of 7.1%.

Annual dynamics of product's imports to Northern Europe in kind, 2017-2020, K t

During 2017-2020, the Netherlands, the United States, and Malaysia were the main suppliers of chemically modified fats and oils to Northern Europe in volume terms. The Netherlands contributed 42.0% of imports in kind, the United States 12.8%, and Malaysia 7.5%. Together, these three countries formed 62.3% of total imports in volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Northern Europe in kind, 2017-2020

Imports in value, M $ US

Imports of chemically modified fats and oils into Northern Europe in value terms declined for the second consecutive year in 2020. The region imported a total of 12.2% less year-over-year, though the specific value for 2020 is not provided. Between 2017 and 2020, import value decreased by 13.2%, with an annualized rate of -4.6%. The peak value was recorded in 2018 at 519.5 million US dollars, which also experienced the largest annual increase of 2.4%.

Annual dynamics of product's imports to Northern Europe in value, 2017-2020, M $ US

Throughout 2017-2020, the Netherlands, the United States, and Spain were the key sources for imports of chemically modified fats and oils into Northern Europe in value terms. The Netherlands accounted for 41.9% of import value, the United States for 11.2%, and Spain for 7.3%. These three countries together represented 60.4% of total import flows by value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Northern Europe in value, 2017-2020