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The 2011 Import and Export Market for Fatty Acids and Acid Oils from Refining Animal or Vegetable Fatty Substances in the United States by ICONGroup

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On the demand side, exporters and strategic planners focusing on fatty acids and acid oils from refining animal or vegetable fatty substances in the United States face a number of questions. Which countries are supplying fatty acids and acid oils from refining animal or vegetable fatty substances to the United States? How important is the United States compared to others in terms of the entire global and regional market? How much do the imports of fatty acids and acid oils from refining animal or vegetable fatty substances vary from one country of origin to another in the United States? On the supply side, the United States also exports fatty acids and acid oils from refining animal or vegetable fatty substances. Which countries receive the most exports from the United States? How are these exports concentrated across buyers? What is the value of these exports and which countries are the largest buyers? This report was created for strategic planners, international marketing executives and import/export managers who are concerned with the market for fatty acids and acid oils from refining animal or vegetable fatty substances in the United States. With the globalization of this market, managers can no longer be contented with a local view. Nor can managers be contented with out-of-date statistics which appear several years after the fact. I have developed a methodology, based on macroeconomic and trade models, to estimate the market for fatty acids and acid oils from refining animal or vegetable fatty substances for those countries serving the United States via exports, or supplying from the United States via imports. It does so for the current year based on a variety of key historical indicators and econometric models. In what follows, Chapter 2 begins by summarizing where the United States fits into the world market for imported and exported fatty acids and acid oils from refining animal or vegetable fatty substances. The total level of imports and

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									 The 2011 Import and Export
 Market for Fatty Acids and
   Acid Oils from Refining
  Animal or Vegetable Fatty
Substances in the United States

                                         By
                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)




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                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.



                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.



                               Acknowledgements
Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.



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                                                            Contents        v


Table of Contents
1     INTRODUCTION AND METHODOLOGY                                      7
2     THE UNITED STATES AND THE WORLD MARKET                            9
    2.1        Imports in the United States in 2011                     9
    2.2        Exports from the United States in 2011                  10
3     IMPORTS IN THE UNITED STATES                                     11
    3.1        Asia                                                    11
       3.1.1      China                                                11
       3.1.2      India                                                12
       3.1.3      Indonesia                                            13
       3.1.4      Japan                                                14
       3.1.5      Malaysia                                             15
       3.1.6      Philippines                                          16
       3.1.7      Taiwan                                               16
       3.1.8      Thailand                                             17
    3.2        Europe                                                  18
       3.2.1      Belgium                                              18
       3.2.2      Czech Republic                                       19
       3.2.3      France                                               20
       3.2.4      Germany                                              21
       3.2.5      Italy                                                22
       3.2.6      Norway                                               23
       3.2.7      Spain                                                24
       3.2.8      Sweden                                               25
       3.2.9      the United Kingdom                                   26
    3.3        Latin America                                           27
       3.3.1      Argentina                                            27
       3.3.2      Brazil                                               28
       3.3.3      Mexico                                               28
    3.4        North America & the Caribbean                           29
       3.4.1      Canada                                               29
    3.5        Oceana                                                  30
       3.5.1      Australia                                            30
    3.6        the Middle East                                         31
       3.6.1      Israel                                               31
4     EXPORTS FROM THE UNITED STATES                                   32
    4.1      Africa                                                    32
       4.1.1   South Africa                                            32
    4.2      Asia                                                      33
       4.2.1   China                                                   33
       4.2.2   Hong Kong                                               34
       4.2.3   India                                                   35
       4.2.4   Indonesia                                               36
       4.2.5   Japan                                                   37
       4.2.6   Malaysia                                                38
       4.2.7   Philippines                                             39
       4.2.8   Singapore                                               40
       4.2.9   South Korea                                             41
       4.2.10 Taiwan                                                   42


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                                                           Contents        vi

       4.2.11 Thailand                                                43
    4.3      Europe                                                   44
       4.3.1    Belgium                                               44
       4.3.2    Denmark                                               45
       4.3.3    France                                                46
       4.3.4    Germany                                               47
       4.3.5    Italy                                                 48
       4.3.6    Norway                                                49
       4.3.7    Spain                                                 50
       4.3.8    Sweden                                                51
       4.3.9    Switzerland                                           52
       4.3.10 the Netherlands                                         53
       4.3.11 the United Kingdom                                      54
       4.3.12 Ukraine                                                 55
    4.4      Latin America                                            55
       4.4.1    Argentina                                             55
       4.4.2    Brazil                                                56
       4.4.3    Colombia                                              56
       4.4.4    Costa Rica                                            57
       4.4.5    Ecuador                                               57
       4.4.6    Guatemala                                             58
       4.4.7    Mexico                                                58
       4.4.8    Panama                                                59
       4.4.9    Peru                                                  59
    4.5      North America & the Caribbean                            60
       4.5.1    Canada                                                60
       4.5.2    Dominica                                              60
       4.5.3    Trinidad and Tobago                                   61
    4.6      Oceana                                                   61
       4.6.1    Australia                                             61
    4.7      the Middle East                                          62
       4.7.1    Israel                                                62
       4.7.2    Oman                                                  63
       4.7.3    Pakistan                                              64
       4.7.4    Qatar                                                 65
       4.7.5    Saudi Arabia                                          66
       4.7.6    Turkey                                                67
5     DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS          68
    5.1    Disclaimers & Safe Harbor                                  68
    5.2    ICON Group Ltd. User Agreement Provisions                  69




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Fatty Acids and Acid Oils from Refining Animal or Vegetable Fatty Substances in the United States     7


1       INTRODUCTION AND METHODOLOGY
On the demand side, exporters and strategic planners focusing on fatty acids and acid oils from
refining animal or vegetable fatty substances in the United States face a number of questions.
Which countries are supplying fatty acids and acid oils from refining animal or vegetable fatty
substances to the United States? How important is the United States compared to others in terms
of the entire global and regional market? How much do the imports of fatty acids and acid oils
from refining animal or vegetable fatty substances vary from one country of origin to another in
the United States? On the supply side, the United States also exports fatty acids and acid oils
from refining animal or vegetable fatty substances. Which countries receive the most exports
from the United States? How are these exports concentrated across buyers? What is the value of
these exports and which countries are the largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for fatty acids and acid oils from
refining animal or vegetable fatty substances in the United States. With the globalization of this
market, managers can no longer be contented with a local view. Nor can managers be contented
with out-of-date statistics which appear several years after the fact. I have developed a
methodology, based on macroeconomic and trade models, to estimate the market for fatty acids
and acid oils from refining animal or vegetable fatty substances for those countries serving the
United States via exports, or supplying from the United States via imports. It does so for the
current year based on a variety of key historical indicators and econometric models.

In what follows, Chapter 2 begins by summarizing where the United States fits into the world
market for imported and exported fatty acids and acid oils from refining animal or vegetable fatty
substances. The total level of imports and exports on a worldwide basis, and those for the United
States in particular, is estimated using a model which aggregates across over 150 key country
markets and projects these to the current year. From there, each country represents a percent of
the world market. This market is served from a number of competitive countries of origin. Based
on both demand- and supply-side dynamics, market shares by country of origin are then
calculated across each country market destination. These shares lead to a volume of import and
export values for each country and are aggregated to regional and world totals. In doing so, we
are able to obtain maximum likelihood estimates of both the value of each market and the share
that the United States is likely to receive this year. From these figures, rankings are calculated to
allow managers to prioritize the United States compared to other major country markets. In this
way, all the figures provided in this report are forecasts that can be combined with internal
information sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of fatty acids and acid
oils from refining animal or vegetable fatty substances, Chapter 3 goes into detail on imports, but
for each major country of origin serving the United States. A “major” market is defined as a
country where the United States represents a substantially large share of either imports or exports.
For each major country exporting to the United States, one can thus observe how important the


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Fatty Acids and Acid Oils from Refining Animal or Vegetable Fatty Substances in the United States     8

United States is to that exporting country compared to other countries of the world. Chapter 4
does the same, but for exports of fatty acids and acid oils from refining animal or vegetable fatty
substances originating from the United States, for each major country of destination. In doing so,
one can discover the share that the United States has in each major market; this share value is
often used as a measure of competitiveness for the United States. In all cases, the total dollar
volume and percentage share values by major trading partner are provided. Combined, Chapters
3 and 4 present a the total picture for imports and exports of fatty acids and acid oils from
refining animal or vegetable fatty substances to and from the United States to and from all other
major countries in the world. "Fatty Acids and Acid Oils from Refining Animal or Vegetable
Fatty Substances" as a category is defined in this report following the definition given by the
United Nations Statistics Division Classification Registry using the Standard International Trade
Classification, Revision 3 (SITC, Rev. 3). The SITC code that defined "fatty acids and acid oils
from refining animal or vegetable fatty substances" is 43131 . For more information on this
definition, please refer to the following web site:
http://unstats.un.org/unsd/cr/registry/regcs.asp?Cl=14&Lg=1&Co=431 .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at www.icongrouponline.com.

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.




www.icongrouponline.com                                                            ©2011 ICON Group Ltd.
Fatty Acids and Acid Oils from Refining Animal or Vegetable Fatty Substances in the United States        9


2       THE UNITED STATES AND THE WORLD MARKET
2.1          IMPORTS IN THE UNITED STATES IN 2011
    Imported Fatty Acids and Acid Oils from Refining Animal or Vegetable Fatty
                         Substances in the United States, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank          Value (000 US$)              % Share        Cumulative %
_________________________________________________________________________________________________________
Malaysia                           1                  128,583                57.08                   57.08
Philippines                        2                   32,881                14.60                   71.68
Germany                
								
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