Monocarboxylic fatty acids and acid oils from refining market in Europe

Earlier Report Observations

The European market for industrial monocarboxylic fatty acids and acid oils from refining began the period at 2 293 thousand tonnes in 2018 before declining to 1 934 thousand tonnes the following year. Market volume then stabilized around 1 920–1 925 thousand tonnes during 2020 and 2021. This stabilization in 2020 was shaped by the COVID-19 pandemic, which initially disrupted global supply chains but concurrently boosted demand for fatty acids used in hygiene and cleaning products. The slight recovery in 2021 occurred alongside tighter EU regulations on unsustainable palm oil, with market participants offsetting potential supply constraints through investments in modern refining capacity and product innovation.

A dramatic market expansion took place in 2022, with volume surging by 37.8% to reach 2 653 thousand tonnes. This growth was principally fueled by rising demand for functional fatty acids and acid oils designed for specialized industrial and consumer applications. Simultaneously, strengthened EU labeling and traceability mandates, coupled with increased collaboration between producers and certified sustainable raw material suppliers, helped secure the supply chain to meet this heightened demand.

In 2023, the market consolidated at this new elevated level, registering a volume of 2 660 thousand tonnes.

Production monocarboxylic fatty acids and acid oils from refining in Europe

In kind, 2017-2020, K t

Top producers of monocarboxylic fatty acids and acid oils from refining, 2017-2020

World map of production of monocarboxylic fatty acids and acid oils from refining, 2017-2020

In 2019, Europe's production of monocarboxylic fatty acids and acid oils from refining experienced its largest decline, dropping by 10.1%. However, production rebounded strongly in 2020, reaching 633.4 thousand tons—a 15.8% increase from the previous year. Over the entire 2017-2020 period, production grew by 16.9%, with a compound annual growth rate of 5.4%.

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

In value, 2017-2020, M $ US

The value of monocarboxylic fatty acids and acid oils from refining produced in Europe reached its lowest point in 2019 at 5 611 million US dollars, marking a 17.5% decline. In 2020, production value recovered significantly to 7 174 million US dollars, representing a 27.9% gain compared to 2019. From 2017 to 2020, production value increased by 10.1%, with a compound annual growth rate of 3.3%.

Annual dynamics of production in Europe in value, 2017-2020, M $ US

Exports monocarboxylic fatty acids and acid oils from refining from Europe

Exports in kind, K t

European exports of monocarboxylic fatty acids and acid oils from refining reached their minimum in 2018 at 849 thousand tons, which represented a 40.7% decline. Exports then grew for two consecutive years, reaching 1 345 thousand tons in 2020—a 34.1% increase from 2019. Despite this recent growth, exports decreased by 6% overall between 2017 and 2020, with a compound annual decline rate of 2.0%.

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

Between 2017 and 2020, European exports of monocarboxylic fatty acids and acid oils from refining were distributed across numerous markets. Israel accounted for 2.1% of exports in volume, the United States for 1.0%, and Switzerland for 0.9%. Together, these three markets represented just 4.0% of total export volume, with the remaining 96.0% going to many smaller destinations.

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

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

Exports in value, M $ US

The value of European exports of monocarboxylic fatty acids and acid oils from refining reached its lowest point in 2019 at 1 229 million US dollars, declining by 12.4%. After two years of losses, exports rebounded in 2020 to 1 375 million US dollars, representing an 11.8% gain from the previous year. Between 2017 and 2020, export value decreased by 12% overall, equating to an annualized decline rate of 4.2%.

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

From 2017 to 2020, European exports of monocarboxylic fatty acids and acid oils from refining in value terms showed limited concentration. The United States accounted for 2.1% of export value, Switzerland for 1.0%, and Israel for 1.0%. Combined, these three markets captured only 4.2% of total export flows.

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

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

Imports monocarboxylic fatty acids and acid oils from refining to Europe

Imports in kind, K t

European imports of monocarboxylic fatty acids and acid oils from refining reached their lowest volume in 2019 at 2 390 thousand tons, declining by 5.6%. In 2020, imports increased to 2 634 thousand tons, representing a 10.2% gain from the previous year. Over the 2017-2020 period, import volume grew by 6.7%, with a compound annual growth rate of 2.2%.

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

Between 2017 and 2020, European imports of monocarboxylic fatty acids and acid oils from refining in volume terms were spread across many countries. Indonesia accounted for 30.6% of import volume, Malaysia for 14.9%, and Argentina for 3.6%. Together, these three countries represented 49.2% of total import flows.

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

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

Imports in value, M $ US

The value of European imports of monocarboxylic fatty acids and acid oils from refining reached its minimum in 2019 at 2 187 million US dollars, declining by 11.5%. After two years of decline, imports increased in 2020, representing a 10.4% gain from the previous year. Between 2017 and 2020, import value decreased by 7.9% overall, equating to an annualized decline rate of 2.7%.

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

During 2017-2020, European imports of monocarboxylic fatty acids and acid oils from refining in value terms were allocated across a large number of markets. Indonesia accounted for 27.9% of import value, Malaysia for 13.1%, and Argentina for 2.5%. Combined, these three countries represented 43.5% of total import flows.

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

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