In 2023, Malaysia led global oleic acid exports with estimated values at $128.17 million, marking a 3.91% year-on-year increase. Indonesia followed with $80.378 million, growing by 3.49%, and Belgium achieved $47.062 million with a 2.41% increase. Notably, Germany and Spain saw significant growth at 5.35% and 5.86%, respectively, while the Netherlands faced a slight decline of 0.63%. China showed promising growth at 5.07%. Dynamic changes were observed with Russia's 19.26% surge and Lithuania's growth at 10.33%, whereas other countries such as Italy and India experienced declines.
Future trends to watch include:
- Potential shifts in market leadership as Malaysia and Indonesia maintain dominance.
- Continued growth in emerging markets due to increasing industrial applications of oleic acid.
- Volatility in European markets influenced by economic and policy changes.
- Technological innovations influencing production efficiencies and sustainability.
Top countries in Export of Oleic Acid by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Malaysia | 128,170,000 | 2023 | +3.06% | +3.91% | View data |
| 2 | 2 Indonesia | 80,378,000 | 2023 | +3.82% | +3.49% | View data |
| 3 | 3 Belgium | 47,062,000 | 2023 | +2.88% | +2.41% | View data |
| 4 | 4 Netherlands | 29,918,000 | 2023 | +0.73% | -0.63% | View data |
| 5 | 5 Germany | 25,688,000 | 2023 | +4.66% | +5.35% | View data |
| 6 | 6 United States | 13,786,000 | 2023 | +1.25% | +0.61% | View data |
| 7 | 7 Argentina | 8,664,900 | 2023 | +5.52% | +1.21% | View data |
| 8 | 8 Spain | 7,140,100 | 2023 | +4.55% | +5.86% | View data |
| 9 | 9 South Korea | 5,897,100 | 2023 | +3.89% | +4.76% | View data |
| 10 | 10 Japan | 5,249,200 | 2023 | +2.37% | +1.87% | View data |
