Australia: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Australia

In 2022, the Australian monocarboxylic acid market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Monocarboxylic Acid Exports

Exports from Australia

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were exported from Australia; flattening at the year before. Over the period under review, exports, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, monocarboxylic acid exports shrank markedly to $X in 2022. In general, exports, however, continue to indicate a sharp setback. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for monocarboxylic acid exports from Australia, accounting for a X% share of total exports. Moreover, monocarboxylic acid exports to New Zealand exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. Papua New Guinea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Papua New Guinea (X% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for acrylic acid and its salts and other monocarboxylic acid exports from Australia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Papua New Guinea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

In 2022, the average monocarboxylic acid export price amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a sharp slump. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Wallis and Futuna Islands ($X 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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Australia

Monocarboxylic acid imports into Australia reduced to X tons in 2022, waning by X% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, monocarboxylic acid imports surged to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of monocarboxylic acid imports to Australia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to Australia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average monocarboxylic acid import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform