ASEAN: Linseed Oil Market 2024

Linseed Oil Market Size in ASEAN

The ASEAN linseed oil market declined markedly to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped sharply in the following year.

Linseed Oil Production in ASEAN

In value terms, linseed oil production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in ASEAN

In 2022, approx. X tons of linseed oil were exported in ASEAN; growing by X% on the previous year's figure. Over the period under review, exports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports skyrocketed to $X in 2022. Overall, exports recorded a slight increase. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia represented the major exporting country with an export of around X tons, which recorded X% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a X% share, followed by the Philippines (X%). Singapore (X tons) took a minor share of total exports.

Exports from Malaysia decreased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest linseed oil supplying countries in ASEAN were the Philippines ($X), Malaysia ($X) and Indonesia ($X), with a combined X% share of total exports.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded pronounced growth. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Linseed Oil Imports

Imports in ASEAN

In 2022, linseed oil imports in ASEAN contracted markedly to X tons, with a decrease of X% against the year before. Overall, imports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, linseed oil imports contracted dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

Indonesia was the largest importing country with an import of around X tons, which accounted for X% of total imports. Thailand (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons), the Philippines (X tons) and Vietnam (X tons). All these countries together took near X% share of total imports. Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brunei Darussalam (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest linseed oil importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total imports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by X% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed oil import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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