In 2023, Malaysia dominated the global oleic acid export market, contributing 34.69% in value terms, closely followed by Indonesia and Belgium. The market showed mixed year-on-year variations, with significant growth observed in countries like Russia and Lithuania, while countries like the Czech Republic and Romania witnessed sharp declines. China's export share increased by 5.07%, while Poland experienced a negative variation of 9.08%. Despite slight declines in some European countries, overall trends indicate a steady growth in the Asian market.
Looking ahead, the global oleic acid market may experience further shifts in demand patterns, with Asia-Pacific countries continuing to increase their market shares driven by industrial demand. Key factors to watch include trade policies, advancements in oleochemistry, and sustainable sourcing practices which could alter the dynamics of global exports.
Top countries in Export of Oleic Acid Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Malaysia | 34.69 | 2023 | +3.06% | +3.91% | View data |
| 2 | 2 Indonesia | 21.76 | 2023 | +3.82% | +3.49% | View data |
| 3 | 3 Belgium | 12.74 | 2023 | +2.88% | +2.41% | View data |
| 4 | 4 Netherlands | 8.1 | 2023 | +0.73% | -0.63% | View data |
| 5 | 5 Germany | 6.95 | 2023 | +4.66% | +5.35% | View data |
| 6 | 6 United States | 3.73 | 2023 | +1.25% | +0.61% | View data |
| 7 | 7 Argentina | 2.35 | 2023 | +5.52% | +1.21% | View data |
| 8 | 8 Spain | 1.93 | 2023 | +4.55% | +5.86% | View data |
| 9 | 9 South Korea | 1.6 | 2023 | +3.89% | +4.76% | View data |
| 10 | 10 Japan | 1.42 | 2023 | +2.37% | +1.87% | View data |
