Product
Oleic Acid Price Trend and Forecast
Oleic Acid Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Oleic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Oleic Acid Price Trend for the First Half of 2023
Asia
Prices of oleic acid suffered from the dipping trend of cooking oil and other edible oil costs in the first quarter of 2023. The regulations imposed by Malaysia and the weakening of market sentiments were the major factors affecting the oleic acid price trend in the first quarter. In the second quarter, however, the price trend improved significantly with the rise in costs of raw palm and other edible oils. The hike was also backed by depletion in the level of inventories and a restricted supply of sunflower oil from Russia.
Europe
After a prolonged period of decline in the first quarter of 2023 due to the sliding cost of raw materials, the price trend of oleic acid surged in the second quarter of 2023. The first quarter witnessed low freight charges, high-functioning supply chains, and low demand from the downstream industries. The second quarter, however, was supported by the surge in domestic demand and a steep decline in the level of inventories in the region. The supply chain disruptions were not able to keep up with the rising demand, and the increased number of inquiries from the international market further pushed the price trend of oleic acid in a positive direction.
North America
The trend of oleic acid in the North American region mirrored what was observed in the Asia Pacific and Europe. In the first quarter, the prices of oleic acid declined due to the decrease in the cost of raw materials and ample availability of oleic acid in the region. However, the trend inclined significantly in the second quarter. Prices of oleic acid in Q2 were supported by the improvement in demand dynamics from the downstream industries. The rising oscillations in the prices of feedstock and a positive outlook from the consumer segment drove the prices of oleic acid in the northward direction.
Analyst Insight
According to Procurement Resource, the price trend of oleic acid is expected to showcase an inclining trajectory as the global market conditions are recovering at a high pace.
Procurement Resource provides latest prices of Oleic Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Oleic acid belongs to the family of monosaturated fatty acids and is a central component of several vegetable and animal fats and oils such as olive oil, canola oil, and avocados. Oleic acid is essential for sustaining cellular function, assisting in energy storage, and boosting heart health by promoting cholesterol balance. At room temperature, its structure consists of a lengthy hydrocarbon chain with a single double bond, resulting in a fluid and stable fat molecule.
Product Details
| Report Features | Details |
| Product Name | Oleic Acid |
| Chemical formula | C18H34O2 |
| Industrial Uses | Candle making, Food and additives, Personal care and cosmetics, Metal processing, Textile and leather processing, Plasticizers |
| HS Code | 38231200 |
| CAS Number | 112-80-1 |
| Molecular weight | 282.47 g/mol |
| Synonyms | (9Z)-Octadec-9-enoic acid |
| Supplier Database | Eastman Chemical Company, Berg + Schmidt GmbH & Co. KG, Emery Oleochemicals Sdn Bhd, Wilmar International Limited, White Group Public Co Ltd, Godrej Industries |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Processes
- Oleic Acid Production from hydrolysis of Palm Kernel Oil
The palm kernel oil is converted to oleic acid via hydrolysis by lipase enzyme. The temperature and pressure of reaction conditions during the conversion is monitored regularly to get the highest degree of conversion as the enzymatic activity depends upon them.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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