Australia and Oceania: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Australia and Oceania

In 2022, the market for processed petroleum oils and distillates in Australia and Oceania increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption saw resilient growth. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Processed Petroleum Oils and Distillates in Australia and Oceania

In value terms, processed petroleum oils and distillates production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Processed Petroleum Oils and Distillates

Exports in Australia and Oceania

In 2022, shipments abroad of processed petroleum oils and distillates increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports enjoyed a noticeable increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Overall, exports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Australia dominates exports structure, reaching X tons, which was near X% of total exports in 2022. Fiji (X tons) ranks second in terms of the total exports with an X% share, followed by New Zealand (X%). Marshall Islands (X tons) took a minor share of total exports.

Exports from Australia increased at an average annual rate of X% from 2012 to 2022. At the same time, Fiji (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. Marshall Islands experienced a relatively flat trend pattern. By contrast, New Zealand (X%) illustrated a downward trend over the same period. Fiji (X p.p.) and Marshall Islands (X p.p.) significantly strengthened its position in terms of the total exports, while New Zealand saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest processed petroleum oils and distillates supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Fiji ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Australia stood at X%. In the other countries, the average annual rates were as follows: Fiji (X% per year) and New Zealand (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, showed a deep reduction. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced a decline in the export price figures.

Imports of Processed Petroleum Oils and Distillates

Imports in Australia and Oceania

In 2022, supplies from abroad of processed petroleum oils and distillates increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Australia prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by New Zealand (X tons), constituting an X% share of total imports. The following importers - Fiji (X tons) and Marshall Islands (X tons) - each recorded a X% share of total imports.

Australia was also the fastest-growing in terms of the processed petroleum oils and distillates imports, with a CAGR of X% from 2012 to 2022. At the same time, New Zealand (X%), Marshall Islands (X%) and Fiji (X%) displayed positive paces of growth. From 2012 to 2022, the share of Australia increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported processed petroleum oils and distillates in Australia and Oceania, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports. It was followed by Fiji, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia amounted to X%. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Fiji (X% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a abrupt downturn. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Australia ($X per ton) and Fiji ($X per ton), while Marshall Islands ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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