OECD Global Crude Oil Imports Prices

Regional and Temporal Trends

By OECD [source]

About this dataset

This dataset contains global crude oil import prices from the OECD. It provides important insight into international trading of oil and its related products, enabling users to analyse market trends and compare prices across different countries. This data is essential for understanding the development of different economies, as well as their dependence on crude oil imports. Through analysis of this dataset, users can understand the role that regional and global factors play in impacting global crude oil import prices over time. The dataset includes columns tracking country/region of origin (LOCATION), indicator measured (INDICATOR), subject tracked (SUBJECT), measure taken (MEASURE), frequency interval (FREQUENCY), time period covered (TIME) as well as numerical value and flag codes associated with the data captured in each row. This invaluable source is perfect for researchers looking to take a deep dive into international markets over time or academics studying the complexities surrounding trade in the energy sector!

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How to use the dataset

This dataset is a great resource for anyone looking to analyze the current and historical prices of crude oil imports from the OECD. The data contains prices from member countries of the OECD and is updated regularly. This dataset can be used to study long term trends in price as well as explore differences between countries with different levels of crude oil import demand.

• In order to make use of this dataset, it’s important to familiarize yourself with the column names and descriptions. The first column is LOCATION which indicates which country or region the data applies to. INDICATOR indicates what information is being displayed (e.g., import market share, import value, etc.). SUBJECT describes what category that metric falls into (e.g., fuel energy). MEASURE tells you whether an amount is expressed in a unit or currency while FREQUENCY says how often data has been collected: monthly, quarterly or annually (average monthly/quarterly/annual etc..). TIME displays measure period start date in year-month format and Value denotes numerical value for each row's measurement respectively while flag codes indicate if any values are estimates or outlier measurements that should be examined further before using them

• Using this understanding, one could filter their search by creating filters on these columns accordingly depending on their research topic such as – pulling all records for China for Q4 2019 - then apply sorting on “VALUE” column based on imported measurements have become cheaper during given time frame etc.. Additionally formulas like SUMIFS() can also be used across multiple columns available within this agreement document at same time such as – total Imports Value from India & Japan combined during May 2019 till October 2020 – based upon bringing together Matching condition criteria met across few columns where needed at same time . As such this dataset provides flexible solutions which potentially allow us to explore patterns related either just single country's current trends -or- cross references since global side-by-side evaluation possible here featuring more than just one nation alone too ...........

Research Ideas

• Analyzing the impact of changes in crude oil prices on global economic growth.
• Examining the evolving dynamics of crude oil trade flows between different countries and regions.
• Tracking trends in crude oil import prices across different industries to identify potential opportunities for cost savings and efficiency gains

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

License: Dataset copyright by authors - You are free to: - Share - copy and redistribute the material in any medium or format for any purpose, even commercially. - Adapt - remix, transform, and build upon the material for any purpose, even commercially. - You must: - Give appropriate credit - Provide a link to the license, and indicate if changes were made. - ShareAlike - You must distribute your contributions under the same license as the original. - Keep intact - all notices that refer to this license, including copyright notices.

Columns

File: crude_oil_import_prices.csv | Column name | Description ...

This dataset contains information about world's oil trade movement for 1980. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes:Unless otherwise stated, this table shows inter-regional trade based on the regional classification in the table `Oil trade in 2015 and 2016’. 1 Prior to 1993, Europe excludes Central Europe (Albania, Bulgaria, Czech Republic, Former Republic of Yugoslavia, Hungary, Poland, Romania, Slovakia). 2 Excludes intra-Middle East trade before 1993. 3 North and West African exports excludes intra-Africa trade prior to 1993. 4 Excludes Japan. Excludes trade between other Asia Pacific countries and Singapore prior to 1993.

n/a not available.

Annual changes and shares of total are calculated using thousand barrels daily figures.

Bunkers are not

In the first quarter of 2025, the Gear Oil market in North America maintained a relatively stable price trend, although fluctuations occurred due to ongoing supply and demand challenges. At the start of the quarter, supply was generally adequate, supported by higher exports from U.S. producers. However, certain Gear Oil grades tightened as production cuts were implemented to prevent oversupply. These tight conditions were further amplified by planned plant maintenance and unforeseen disruptions at key facilities, which led to supply constraints by mid-quarter.

According to Cognitive Market Research, the global Carbon Black Oil Market size was USD 28142.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 11257.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 8442.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 6472.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1407.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 562.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Rubber Reinforcement held the highest Carbon Black Oil Market revenue share in 2024.

Market Dynamics of Carbon Black Oil Market

Key Drivers for Carbon Black Oil Market

Growth in the Automotive Sector Enhances Market Demand

The swift development of the automotive industry, particularly in emerging economies, is markedly elevating the demand for carbon black oil. This substance is crucial in tire production due to its capacity to improve durability and fuel efficiency. The shift towards lightweight, high-performance vehicles further strengthens this increasing demand trend for rubber compounds based on carbon black oil.

The Role of Carbon Black Oil in Driving Growth in the Construction Industry

The utilization of carbon black oil is on the rise in the construction sector for the enhancement of concrete, asphalt, and coatings. With the surge in urbanization and infrastructure initiatives, it is esteemed for its ability to enhance material strength and resistance to environmental factors. This growing significance in structural applications corresponds with global construction surges, particularly in developing areas, fostering consistent market growth.

Restraint Factor for the Carbon Black Oil Market

Navigating Price Volatility in the Carbon Black Oil Market

The market for carbon black oil is extremely reactive to variations in global oil prices. As it is derived from petroleum feedstocks, any instability in crude oil supply, regulatory changes, or geopolitical tensions directly impacts production expenses. This unpredictability complicates pricing strategies and planning, rendering profitability and long-term investments precarious for manufacturers.

Environmental Regulations Constrain Market Growth

Tighter environmental regulations concerning emissions and petroleum-derived products pose challenges for the carbon black oil market. Government initiatives aimed at minimizing carbon footprints and encouraging sustainable materials are pressuring manufacturers to adopt cleaner technologies, which may lead to increased production costs and a deceleration in growth.

Key Trends of Carbon Black Oil Market

Transition to Sustainable Alternatives

The market is experiencing a gradual yet increasing transition towards bio-based carbon black oil substitutes. As sustainability gains importance, manufacturers are dedicating resources to research eco-friendly materials aimed at decreasing reliance on fossil fuels. This movement is propelled by the need for regulatory adherence and consumer demand for environmentally friendly products in the automotive and construction industries.

Digital Oversight in Production

Cutting-edge digital technologies such as IoT and AI are being implemented in carbon black oil processing facilities to enhance efficiency and minimize waste. Real-time monitoring systems assist in regulating temperature, flow rates, and emissions, thereby improving product quality and ensuring adherence to environmental standards. This technology-driven movement is transforming the production landscape of the industry.

Impact of Covid-19 on the Carbon Black Oil Market

The Carbon Black Oil Market witnessed a significant impact from the COVID-19 pandemic. Supply ...

Organic Canola Oil Sales Market Outlook

In 2023, the global organic canola oil market size was valued at approximately USD 1.6 billion and is projected to reach USD 2.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.3%. This impressive growth trajectory is fueled by a combination of health consciousness, increasing demand for organic products, and the favorable nutritional profile of canola oil. Consumers are increasingly shifting towards organic and natural food products, driven by the rising health and wellness trend. Organic canola oil, known for its low saturated fat content and high omega-3 fatty acids, is gaining popularity as a healthier alternative to conventional oils, thereby propelling market growth.

The burgeoning trend towards health and wellness is a primary growth driver for the organic canola oil market. As consumers become increasingly aware of the health benefits associated with organic products, there is a notable shift in preference towards foods that support health and well-being. Canola oil, with its low levels of saturated fat and beneficial fatty acid composition, aligns well with these health trends. Moreover, the organic aspect of the oil further enhances its appeal, as consumers are becoming more conscious of the potential impacts of pesticides and GMOs on health and the environment. This shift in consumer behavior is encouraging manufacturers to expand their organic product lines, thus boosting the market for organic canola oil.

Environmental sustainability is another significant factor contributing to the growth of the organic canola oil market. As the global community becomes more environmentally aware, there is a rising demand for sustainable agricultural practices, which is where organic farming comes into play. Organic farming is perceived as a more eco-friendly approach, emphasizing soil health, water conservation, and biodiversity. As a result, products derived from organically farmed sources, such as organic canola oil, are gaining traction. Additionally, regulatory bodies across the globe are supporting organic farming through favorable policies and incentives, further propelling the market for organic canola oil.

Technological advancements in the processing and production of organic canola oil are further driving market expansion. Innovations in cold-pressing and expeller-pressing techniques, which maintain the nutritional integrity of the oil without the use of chemicals, are becoming increasingly popular. These advancements not only enhance the quality of the oil but also increase production efficiency. Furthermore, the development of refined organic canola oils that cater to specific culinary and industrial needs is opening up new avenues for market growth. As technology continues to evolve, it is expected to create more opportunities for the organic canola oil market to expand.

Brassica Napus Oil Sales, commonly referred to as canola oil sales, are experiencing a significant surge in demand due to the increasing awareness of its health benefits. As a derivative of the Brassica napus plant, canola oil is celebrated for its low saturated fat content and high levels of omega-3 fatty acids, making it a preferred choice among health-conscious consumers. The shift towards healthier dietary options has led to a growing interest in Brassica Napus Oil Sales, particularly in regions where organic and natural products are gaining traction. This trend is further supported by the global movement towards sustainable and eco-friendly agricultural practices, which align with the production methods of Brassica napus oil. As consumers continue to prioritize health and sustainability, the market for Brassica Napus Oil Sales is poised for substantial growth, contributing to the overall expansion of the organic oil sector.

Regionally, the organic canola oil market is experiencing varied growth patterns. North America is currently the largest market, driven by high consumer awareness and a well-established organic food industry. Europe follows closely, with increasing demand for organic and health-oriented food products. The Asia Pacific region is anticipated to exhibit the highest CAGR during the forecast period, fueled by a rapidly growing urban population and increasing disposable income. As more consumers in these regions adopt healthier lifestyles, the demand for organic canola oil is expected to rise significantly, contributing to the overall market expansion.

Product Type Analysis

The o

Palmarosa Oil Market Outlook

The global palmarosa oil market size was valued at approximately USD 120 million in 2023 and is projected to reach USD 220 million by 2032, growing at a CAGR of 6.5% during the forecast period. The robust growth of this market can be attributed to increasing consumer inclination towards natural and organic products, coupled with the expanding application spectrum of essential oils in aromatherapy, cosmetics, personal care, pharmaceuticals, and food and beverages industries. As consumers become more health-conscious and environmentally aware, the demand for palmarosa oil, known for its therapeutic properties and versatile applications, is anticipated to surge significantly.

One of the primary growth factors driving the market is the rising awareness of the health benefits associated with palmarosa oil. This essential oil, extracted from the Cymbopogon martinii plant, is renowned for its antibacterial, antifungal, and antiviral properties. These attributes make it an attractive ingredient in health and wellness products, including natural remedies and alternative medicine. Additionally, the increasing prevalence of lifestyle diseases and the growing trend of integrating natural therapies into conventional treatment plans are further propelling the demand for palmarosa oil.

Another crucial factor contributing to market growth is the burgeoning cosmetics and personal care industry. Palmarosa oil is extensively used in the formulation of skincare and haircare products due to its hydrating, soothing, and rejuvenating properties. As consumers increasingly gravitate towards natural and organic beauty products, manufacturers are incorporating palmarosa oil to cater to this demand. The oil's pleasant aroma and skin-friendly characteristics make it a preferred choice for developing high-quality, eco-friendly cosmetics.

The burgeoning aromatherapy market is also playing a significant role in driving the growth of the palmarosa oil market. Aromatherapy, which involves the use of essential oils for therapeutic purposes, has gained immense popularity in recent years. Palmarosa oil, with its calming and stress-relieving properties, is widely used in diffusers, massage oils, and bath products. The growing trend of wellness and self-care, amplified by the increasing number of wellness centers and spas, is expected to bolster the demand for palmarosa oil in the coming years.

In addition to palmarosa oil, Sandalwood Essential Oil has been gaining traction in the aromatherapy and personal care industries. Known for its rich, woody aroma and calming properties, sandalwood essential oil is often used in meditation practices and relaxation therapies. Its ability to promote mental clarity and emotional balance makes it a valuable addition to wellness routines. Moreover, the oil's anti-inflammatory and antiseptic properties have made it a popular choice in skincare formulations, helping to soothe and rejuvenate the skin. As consumers continue to seek natural solutions for mental and physical well-being, the demand for sandalwood essential oil is expected to rise, complementing the growth of the essential oils market.

Regionally, the Asia Pacific region is expected to dominate the palmarosa oil market owing to the presence of major producing countries such as India and Nepal. The abundant availability of raw materials and the traditional use of essential oils in this region provide a competitive edge. Additionally, the growing middle-class population, increasing disposable incomes, and rising consumer awareness about natural products are likely to boost market growth in this region. North America and Europe are also significant markets due to the high demand for organic and natural products, coupled with well-established aromatherapy and beauty industries.

Product Type Analysis

The palmarosa oil market can be segmented based on product type into organic palmarosa oil and conventional palmarosa oil. Organic palmarosa oil is derived from plants cultivated without the use of synthetic pesticides or fertilizers, while conventional palmarosa oil is produced from plants grown using conventional agricultural practices. The organic segment is expected to witness significant growth due to the rising consumer preference for organic products. Consumers are becoming increasingly health-conscious and are willing to pay a premium for products perceived to be safer and more environmentally friendly. This trend is driving the demand for organic p

This image dataset: "Sentinel-1 SAR Oil spill image dataset for train, validate, and test deep learning models. Part III", is the third part of the image dataset for train and validate deep learning models for oil spill detection and segmentation.

This part contains the test images.

The dataset comprises Sentinel-1 SAR images in Sigma0, in decibels (db), along with their ground truth. The images are 2048x2048x2, also the ground truth is 2048x2048; all of them are in TIFF format.

The files are organized in the following manner:

• Images: Sentinel-1 SAR images in Sigma0 in decibels.
  • Lookalike: There are 150 images corresponding to look-alike surfaces
  • No oil: There are 150 oil free images
  • Oil: There are 150 oil spill images
• Mask: Gorund truth masks images for each Sentinel-1 SAR images
  • Lookalike: There are 150 images corresponding to the ground truth for look-alike images
  • No oil: There are 150 images to corresponds oil free ground truth images
  • Oil: There are 150 images for the ground truth for oil spill images

Each corresponding ground truth has the same number as its respective image. For instance, the image of an oil spill has a corresponding number of 0001, as well as its ground truth.

The complete dataset consists of three parts:

Sentinel-1 SAR Oil spill image dataset for train, validate, and test deep learning models. Part I. (10.5281/zenodo.8346860)

Sentinel-1 SAR Oil spill image dataset for train, validate, and test deep learning models. Part II. (10.5281/zenodo.8253899)

Sentinel-1 SAR Oil spill image dataset for train, validate, and test deep learning models. Part III. (10.5281/zenodo.13761290)

On October 6, 2025, the Brent crude oil price stood at 63.49 U.S. dollars per barrel, compared to 59.49 U.S. dollars for WTI oil and 64.22 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

What this collection is: A curated, binary-classified image dataset of grayscale (1 band) 400 x 400-pixel size, or image chips, in a JPEG format extracted from processed Sentinel-1 Synthetic Aperture Radar (SAR) satellite scenes acquired over various regions of the world, and featuring clear open ocean chips, look-alikes (wind or biogenic features) and oil slick chips.

This binary dataset contains chips labelled as: - "0" for chips not containing any oil features (look-alikes or clean seas)
- "1" for those containing oil features.

This binary dataset is imbalanced, and biased towards "0" labelled chips (i.e., no oil features), which correspond to 66% of the dataset. Chips containing oil features, labelled "1", correspond to 34% of the dataset.

Why: This dataset can be used for training, validation and/or testing of machine learning, including deep learning, algorithms for the detection of oil features in SAR imagery. Directly applicable for algorithm development for the European Space Agency Sentinel-1 SAR mission (https://sentinel.esa.int/web/sentinel/missions/sentinel-1 ), it may be suitable for the development of detection algorithms for other SAR satellite sensors.

Overview of this dataset: Total number of chips (both classes) is N=5,630 Class 0 1 Total 3,725 1,905

Further information and description is found in the ReadMe file provided (ReadMe_Sentinel1_SAR_OilNoOil_20221215.txt)

Exports of Rape Oil & Mustard Oil in China increased to 793 USD THO in December from 403 USD THO in November of 2019. This dataset includes a chart with historical data for China Exports of Rape Oil & Mustard Oil.

5517676 Global exporters importers export import shipment records of Oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

According to Cognitive Market Research, the global AI in Oil & Gas Market size is USD 4.0 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 22.6% from 2024 to 2031. Market Dynamics of AI in Oil & Gas Market

Key Drivers for AI in Oil & Gas Market

Oil and gas firms' initiatives towards digital transformation - The oil and gas industry has been striving for more digitalization of operations in order to boost production and efficiency. With declining oil prices in 2024, businesses are seeking technological advances to improve production processes and cut expenses. There is a growing realization that artificial intelligence can be used to analyze massive amounts of operational data collected from rigs, pipelines, refineries, and other assets. This data contains significant insights that can be used to predict equipment failures, discover anomalies, and optimize maintenance plans. AI is increasingly being utilized for activities like interpreting seismic data faster to explore new oil and gas sources. Companies are investing in AI technologies that can complement the decision-making powers of human workers by delivering real-time recommendations. This emphasis on digital transformation across the value chain is a primary driving force behind the growing use of AI technology in the oil and gas industry. Need for better safety and risk minimization

Key Restraints for AI in Oil & Gas Market

Lack of Competent Professionals in AI Technology High initial costs Introduction of the AI in Oil & Gas Market

Artificial intelligence (AI) in the oil and gas market refers to the use of advanced computing algorithms and machine learning approaches to optimize operations, improve decision-making, and increase efficiency across numerous aspects of the industry. Its applications include predictive maintenance, reservoir management, drilling optimization, production planning, and safety standards. The Artificial Intelligence (AI) in Oil & Gas Market is rapidly expanding due to rising energy consumption, technological improvements, and the need for cost savings and operational efficiency. Factors fueling this expansion include the integration of big data analytics, IoT devices, and AI algorithms to extract actionable insights from massive amounts of data, allowing for better decision-making processes.

Organic Mustard Oil Market Outlook

The global organic mustard oil market size was valued at approximately USD 1.5 billion in 2023 and is projected to reach USD 3.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.7% over the forecast period. The market is primarily driven by the increasing consumer awareness about the health benefits associated with organic products and the rising demand for natural and chemical-free cooking oils.

One of the significant growth factors for the organic mustard oil market is the increasing awareness about the health benefits associated with organic mustard oil. Consumers worldwide are becoming more health-conscious and are seeking out products that are free from synthetic chemicals, pesticides, and genetically modified organisms. Organic mustard oil, rich in essential nutrients and antioxidants, is perceived to offer numerous health benefits, including improved heart health, enhanced digestion, and anti-inflammatory properties. This shift in consumer preference towards organic and natural products is propelling the demand for organic mustard oil.

Another crucial factor contributing to the market growth is the expanding use of organic mustard oil in various end-use industries, such as the food industry, personal care, and pharmaceuticals. In the food industry, organic mustard oil is gaining popularity due to its distinctive pungent flavor and numerous culinary applications. It is used in cooking, frying, and as a salad dressing, among other uses. Additionally, the personal care industry is witnessing a surge in demand for organic ingredients, with organic mustard oil being used in hair oils, skin care products, and massage oils due to its nourishing properties. The pharmaceutical industry is also incorporating organic mustard oil in various medicinal formulations, further boosting its market demand.

The rising popularity of online retail channels is another factor driving the growth of the organic mustard oil market. The convenience of online shopping, coupled with the availability of a wide range of products and attractive discounts, is encouraging consumers to purchase organic mustard oil through online platforms. Additionally, the penetration of e-commerce in developing regions, where organic product adoption is still in its nascent stages, is anticipated to open new growth avenues for the market.

From a regional perspective, the Asia Pacific region dominates the organic mustard oil market, accounting for the largest share of the global market. The strong cultural and culinary traditions of using mustard oil in countries such as India, Bangladesh, and Nepal are major factors driving the market in this region. North America and Europe are also significant markets for organic mustard oil, driven by the growing health consciousness and increasing demand for natural and organic products. The Middle East & Africa and Latin America are emerging markets, with rising consumer awareness and increasing disposable incomes contributing to the market growth.

Yellow Mustard Seed plays a crucial role in the production of organic mustard oil. These seeds are known for their high oil content and pungent flavor, which contribute significantly to the distinctive taste and aroma of the oil. The cultivation of yellow mustard seeds is often carried out using organic farming practices, ensuring that the final product is free from synthetic chemicals and pesticides. This aligns with the growing consumer demand for organic and natural products, further boosting the market for organic mustard oil. The use of yellow mustard seeds not only enhances the flavor profile of the oil but also contributes to its nutritional benefits, making it a preferred choice among health-conscious consumers.

Product Type Analysis

The organic mustard oil market can be segmented by product type into cold-pressed and expeller-pressed mustard oil. Cold-pressed organic mustard oil is gaining traction due to its superior nutritional profile and the preservation of essential vitamins and minerals. The cold-pressing process involves extracting oil at lower temperatures, ensuring that the oil retains its natural flavor, color, and nutritional value. Consumers are increasingly opting for cold-pressed organic mustard oil due to its perceived health benefits, including higher antioxidant content and the retention of omega-3 fatty acids, which are beneficial for heart health.

Expeller-pressed organic m

Rapeseed fell to 461.50 EUR/T on October 17, 2025, down 1.34% from the previous day. Over the past month, Rapeseed's price has fallen 3.00%, and is down 8.02% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Rapeseed Oil.

Blown Oil Market size was valued at USD 2,552.23 Million in 2023 and is projected to reach USD 3,658.01 Million by 2030, growing at a CAGR of 4.59% from 2024 to 2030.

Global Blown Oil Market Overview

The Global Blown Oil Market is being driven by rising demand for paints and coatings in industries such as automotive, construction, and industrial applications. Blown oil is utilized as a significant component in the formulation of coatings to promote shorter drying periods and improved film formation due to its superior drying qualities. Furthermore, the rise of the construction industry, particularly in developing nations, contributes to the increase of the Blown Oil Market. Blown oil is used to make coatings for architectural buildings that are both protective and beautiful. As worldwide building activity increases, so will demand for coatings and, as a result, blown oil.

The price and availability of raw ingredients, especially vegetable oils, influence the Blown Oil Market. Price fluctuations in these feedstocks can have an effect on production costs and, as a result, the overall pricing and profitability of blown oil products. Emerging market industrialization and urbanization create an opportunity for the Blown Oil Market. As these regions see greater construction and infrastructure development, the need for coatings, and hence blown oil, is expected to rise significantly.

According to Cognitive Market Research, the global fortified edible oil market size was USD 11958.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 4783.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3587.46 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2750.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 597.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 239.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.
The vitamin A category is the fastest growing segment of the fortified edible oil industry

Market Dynamics of Fortified Edible Oil Market

Key Drivers for Fortified Edible Oil Market

Increasing Consumer Awareness of Nutrition and Health Benefits to Boost Market Growth

Increasing consumer awareness of nutrition and health benefits is a key driver in the fortified edible oil market. As consumers become more health-conscious, demand for products enriched with essential vitamins (such as A, D, and E) grows, particularly in addressing nutritional deficiencies. Governments and health organizations promote fortified oils to combat malnutrition, especially in developing regions. This trend, along with rising disposable incomes and education on healthier food choices, is expanding the market, as fortified oils offer an easy, accessible way to improve daily nutrient intake.

Rise in Demand for Functional Foods with Added Health Benefits to Drive Market Growth

The rising demand for functional foods with added health benefits is significantly driving the fortified edible oil market. Consumers are increasingly seeking oils enriched with essential vitamins, minerals, and antioxidants to enhance their nutritional intake and support overall health. This trend is fueled by growing health awareness and the desire to prevent nutritional deficiencies. Manufacturers are responding by developing fortified oils such as vitamin A-enriched palm oil and omega-3-enhanced soybean oil. Consequently, the increased preference for functional foods is expanding market opportunities, fostering innovation, and accelerating growth in the fortified edible oil sector.

Restraint Factor for the Fortified Edible Oil Market

High Cost of Production Will Limit Market Growth

The high cost of production is a significant restraint in the fortified edible oil market. Fortification involves adding essential vitamins and minerals, such as vitamins A, D, and E, which increases manufacturing expenses. The need for specialized equipment and processes to ensure nutrient stability further elevates costs. These added expenses often result in higher product prices, making fortified oils less accessible in price-sensitive or low-income markets. Additionally, the increased production costs can discourage manufacturers, limiting the overall market growth and adoption, particularly in developing regions.

Impact of Covid-19 on the Fortified Edible Oil Market

The COVID-19 pandemic impacted the fortified edible oil market in multiple ways. Disruptions in global supply chains caused delays in raw material procurement and fortification processes, while lockdowns affected production and distribution. However, increased consumer awareness of health and nutrition during the pandemic boosted demand for fortified products, including edible oils. Governments and NGOs also promoted fortified oils to address nutritional deficiencies exacerbated by the pandemic. Despite supply challenges, the pandemic accelerated the adoption of fortified oils as consumers prioritized immunity-boosting and nutrient-rich foods. Introduction of the Fortified Edible Oil Market

Fortified edible oil is regular cooking oil enriched with essential vitamins and minerals, such as vitamins A, D, and E, to improve nutritional val...

Imports of Oil in Mexico decreased to 3267.71 USD Million in February from 3443.63 USD Million in January of 2024. This dataset includes a chart with historical data for Mexico Imports of Oil.

Oil Market Outlook

The global oil market size was valued at approximately $2.3 trillion in 2023 and is projected to reach around $3.1 trillion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.4%. The market is poised for this growth driven by increasing energy demands and technological advancements in extraction and refining processes. The ascent in urbanization and industrialization, particularly in emerging economies, is also catalyzing the expansion of the oil market. As the world continues to witness an upsurge in energy consumption, oil remains a pivotal component of the global energy mix, underscoring its enduring relevance and potential for growth in the coming years.

One of the primary growth factors for the oil market is the relentless global demand for energy, which is predominantly fueled by developing countries undergoing rapid industrialization and modernization. These nations are experiencing significant infrastructural development, leading to increased consumption of fossil fuels, including oil. Additionally, the expansion of the transportation sector, which is heavily reliant on oil, further propels market growth. The automotive industry, despite a shift towards electrification, still sees a significant proportion of its energy needs being met by oil products such as gasoline and diesel, thereby sustaining demand.

Technological advancements in extraction and refining processes are also key drivers of growth in the oil market. The advent of improved drilling techniques, such as horizontal drilling and hydraulic fracturing, has made it economically viable to tap into previously inaccessible oil reserves. This has significantly boosted the supply side of the market, leading to an increase in production levels. Moreover, innovations in refining processes have enhanced the efficiency and yield of refining operations, resulting in higher output of refined oil products. These technological improvements not only bolster supply but also help reduce the environmental impact of oil extraction and processing activities.

Furthermore, the global geopolitical landscape plays a crucial role in shaping the oil market. Political stability in key oil-producing regions can significantly influence supply chains and pricing structures. For instance, the Middle East, which holds a substantial portion of the world's oil reserves, is often affected by geopolitical tensions that can lead to fluctuations in supply and prices. Additionally, policies and regulations set forth by major economies regarding fossil fuel consumption and emissions standards can either facilitate market expansion or pose challenges to it. Thus, ongoing geopolitical developments and regulatory changes are critical factors affecting the oil market's trajectory.

The integration of Oil and Gas sectors is increasingly becoming a focal point in the global energy landscape. As oil remains a dominant energy source, the synergy between oil and gas industries can lead to enhanced efficiency and innovation. This integration allows for the sharing of technological advancements, such as improved drilling techniques and refining processes, which can be applied across both sectors to optimize resource extraction and processing. Furthermore, the collaboration between oil and gas companies can facilitate the development of comprehensive energy solutions that address both current demands and future sustainability goals. By leveraging their combined expertise, these industries can better navigate the challenges of fluctuating market conditions and regulatory pressures, ultimately contributing to a more resilient and adaptable energy sector.

Regionally, the Asia Pacific region is expected to witness robust growth in the oil market, primarily due to the soaring energy demands of populous countries like China and India. These nations are experiencing rapid economic growth, leading to increased consumption of oil for industrial and transportation purposes. North America, on the other hand, is characterized by technological innovations in oil extraction and production, positioning it as a significant player in the global market. The Middle East & Africa region remains a major supplier of oil, with vast reserves and strategic geopolitical positioning. Europe and Latin America, while also integral to the market, are increasingly turning towards alternative energy sources, which may moderate their growth rates compared to other regions.

Type Analysis

The oil market is segmented into several

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