Report Update: Apr 1, 2024

Australia - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in Australia - 2023

Price for Processed Petroleum Oils and Distillates in Australia (CIF) - 2023

In August 2023, the average import price for processed petroleum oils and distillates amounted to $703 per ton, increasing by 5.7% against the previous month. In general, the import price, however, saw a pronounced downturn. Over the period under review, average import prices attained the maximum at $894 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In August 2023, the highest price was recorded for prices from Japan ($787 per ton) and Taiwan (Chinese) ($756 per ton), while the price for China ($636 per ton) and India ($680 per ton) were amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Japan (-1.1%), while the prices for the other major suppliers experienced a decline.

Price for Processed Petroleum Oils and Distillates in Australia (FOB) - 2022

The average export price for processed petroleum oils and distillates stood at $347 per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29%. Over the period under review, the average export prices hit record highs at $826 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($1,097 per ton), while the average price for exports to Hong Kong SAR ($263 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.1%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates in Australia

Processed petroleum oils and distillates imports into Australia skyrocketed to 87M tons in 2022, surging by 91% against the year before. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 107%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports soared to $54.1B in 2022. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 209%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Import of Processed Petroleum Oils and Distillates in Australia (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	2.7	1.4	3.5	11.5	62.1%
Singapore	4.0	2.3	5.7	8.9	30.5%
India	0.3	0.8	3.3	4.5	146.6%
Taiwan (Chinese)	0.6	0.5	0.9	3.7	83.4%
Malaysia	1.1	0.9	2.1	3.7	49.8%
Japan	2.9	0.9	1.1	3.1	2.2%
China	2.3	1.3	1.5	1.9	-6.2%
Others	1.6	1.0	10.1	16.9	119.4%
Total	15.6	9.1	28.3	54.1	51.4%

Top Suppliers of Processed Petroleum Oils and Distillates to Australia in 2022:

South Korea (17.0M tons)
Singapore (13.1M tons)
Taiwan (Chinese) (9.8M tons)
India (7.4M tons)
Malaysia (6.1M tons)
Japan (4.9M tons)
China (2.9M tons)

Exports of Processed Petroleum Oils and Distillates in Australia

For the fourth consecutive year, Australia recorded growth in shipments abroad of processed petroleum oils and distillates, which increased by 27% to 3.1M tons in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, processed petroleum oils and distillates exports skyrocketed to $1.1B in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 50% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Export of Processed Petroleum Oils and Distillates in Australia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	201	252	198	293	13.4%
Japan	153	110	147	155	0.4%
Malaysia	73.4	42.0	47.9	59.1	-7.0%
South Korea	76.4	15.4	47.7	51.8	-12.1%
China	30.4	28.9	14.5	47.7	16.2%
New Zealand	53.9	23.0	16.8	26.1	-21.5%
Hong Kong SAR	16.9	12.3	8.1	25.5	14.7%
Taiwan (Chinese)	16.6	53.6	31.1	22.3	10.3%
Others	106	31.4	344	409	56.8%
Total	728	568	854	1,089	14.4%

Top Export Markets for Processed Petroleum Oils and Distillates from Australia in 2022:

Singapore (882.4K tons)
Japan (425.3K tons)
Malaysia (197.9K tons)
South Korea (115.9K tons)
Hong Kong SAR (97.1K tons)
China (84.1K tons)
Taiwan (Chinese) (73.7K tons)
New Zealand (23.8K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023