Monocarboxylic fatty acids and acid oils from refining market in Finland

Earlier Report Observations

Between 2018 and 2020, the market volume for industrial monocarboxylic fatty acids and acid oils from refining in Finland contracted significantly, falling from 211 thousand tons to 123 thousand tons in physical terms. This decline was followed by a recovery phase from 2021 to 2022, when market size grew to 143 thousand tons. In value terms, the market dropped to $127 million in 2020 before rebounding sharply to $192 million in 2022, indicating periods of both volume contraction and price pressures or shifts in product mix.

The market stabilized in 2023 at 136 thousand tons, though its value continued to rise to $203 million. However, 2024 saw a pronounced downturn, with volume plummeting to 82 thousand tons and value dropping to $134 million. This sharp contraction coincided with the national implementation of the EU Industrial Emissions Directive, which tightened emission limits for industrial plants, and the introduction of a new emissions trading system for fuel distribution, increasing compliance costs and affecting industrial operations for producers of these fatty acids and acid oils.

Production monocarboxylic fatty acids and acid oils from refining in Finland

In value, 2017-2020, M $ US

After two consecutive years of decline, Finland's production of monocarboxylic fatty acids and acid oils from refining increased in 2020. The output was valued at 94.6 million US dollars, marking a modest year-over-year growth of 4.3%. Over the period from 2017 to 2020, production decreased by 13.3%, with a compound annual growth rate of -4.6%. The lowest value was recorded in 2019 at 90.7 million US dollars, which also saw the largest decline of 13.5%.

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

In kind, 2017-2020, t

Globally, Finland ranked as the 8th largest producer of monocarboxylic fatty acids and acid oils from refining between 2017 and 2020.

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

Finland's production of monocarboxylic fatty acids and acid oils from refining declined for the third year in a row in 2020. The output totaled 74 592 tonnes, representing a 2.2% decrease compared to the previous year. From 2017 to 2020, production fell by 21.2%, equating to an annualized decline rate of 7.6%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports monocarboxylic fatty acids and acid oils from refining from Finland

Exports in kind, K t

The market displayed an unstable trend throughout the observed period. The lowest export volume occurred in 2017, while the highest was reached in 2019, with a peak-to-trough ratio of 142 times. In 2020, exports from Finland amounted to 0.0 thousand tonnes, indicating a sharp decline of 75.2% from 2019. The maximum value was recorded in 2019 at 0.0 thousand tonnes, and the largest increase was observed in 2018 at 11 290.6%.

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

From 2017 to 2020, the main destinations for Finland's exports of monocarboxylic fatty acids and acid oils from refining in kind were Denmark (37.3% of exports), Russia (35.8% of exports), and the United States (21.5% of exports). Together, these three countries accounted for 94.6% of total export flows.

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

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

Exports in value, K $ US

The market exhibited volatility during the period under review. The lowest point was in 2017, and the peak occurred in 2019, showing a 221-fold difference between these years. In 2020, exports from Finland totaled 8 thousand US dollars, reflecting a significant decline of 92.5% compared to 2019. The maximum value was recorded in 2019 at 110 thousand US dollars, and the largest increase was in 2018 at 5 356.2%.

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

Between 2017 and 2020, the primary buyers of monocarboxylic fatty acids and acid oils from refining from Finland in value terms were Qatar (60.2% of exports), Russia (16.1% of exports), and Denmark (11.5% of exports). Collectively, these three countries made up 87.8% of total export value.

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

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

Imports monocarboxylic fatty acids and acid oils from refining to Finland

Imports in kind, K t

Finland's imports of monocarboxylic fatty acids and acid oils from refining declined for the second consecutive year in 2020. Imports totaled 48.0 thousand tonnes, which is 42.6% lower than the previous year. Over the period from 2017 to 2020, imports decreased by 48.9%, with a compound annual growth rate of -20.0%. The highest value was recorded in 2018 at 126.5 thousand tonnes, which also saw the largest increase of 34.7%.

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

From 2017 to 2020, Indonesia and Malaysia together accounted for 91.8% of Finland's total imports in kind of monocarboxylic fatty acids and acid oils from refining, with the remaining flows distributed thinly across other markets.

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

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

Imports in value, K $ US

Finland's imports of monocarboxylic fatty acids and acid oils from refining declined for the second year in a row in 2020. The import volume stood at 32 411 thousand US dollars, showing a steep decline of 54.3% compared to the previous year. Between 2017 and 2020, imports decreased by 48.6%, equating to an annualized decline rate of 19.9%. The maximum value was recorded in 2018 at 81 182 thousand US dollars, which also experienced the largest increase of 28.6%.

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

Over the period from 2017 to 2020, Indonesia and Malaysia were the dominant suppliers of monocarboxylic fatty acids and acid oils from refining to Finland, together capturing 92.2% of total imports in value terms. Other destinations each accounted for relatively small shares.

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

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