Australia and Oceania: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Australia and Oceania

The phenylacetic acid market in Australia and Oceania was estimated at $X in 2023, surging by X% against the previous year. In general, consumption, however, continues to indicate a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Phenylacetic Acid Production in Australia and Oceania

In value terms, phenylacetic acid production expanded markedly to $X in 2023 estimated in export price. In general, production, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in Australia and Oceania

After two years of growth, overseas shipments of phenylacetic acid, its salts and esters decreased by X% to X kg in 2023. Over the period under review, exports recorded a precipitous shrinkage. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2022, and then fell rapidly in the following year.

In value terms, phenylacetic acid exports dropped rapidly to $X in 2023. Overall, exports showed a sharp setback. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Australia dominates exports structure, recording X kg, which was approx. X% of total exports in 2023. It was distantly followed by New Zealand (X kg), making up a X% share of total exports.

Australia was also the fastest-growing in terms of the phenylacetic acid, its salts and esters exports, with a CAGR of X% from 2012 to 2023. New Zealand (X%) illustrated a downward trend over the same period. While the share of Australia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of New Zealand (X p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest phenylacetic acid supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total exports.

In Australia, phenylacetic acid exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Phenylacetic Acid Imports

Imports in Australia and Oceania

In 2023, approx. X tons of phenylacetic acid, its salts and esters were imported in Australia and Oceania; rising by X% against 2022. Overall, imports, however, showed a abrupt downturn. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, phenylacetic acid imports stood at $X in 2023. Total imports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Australia was the major importer of phenylacetic acid, its salts and esters in Australia and Oceania, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. It was distantly followed by New Zealand (X tons), comprising a X% share of total imports. Fiji (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest phenylacetic acid importing markets in Australia and Oceania were Australia ($X), New Zealand ($X) and Fiji ($X), together accounting for X% of total imports.

New Zealand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, recorded a strong increase. The growth pace was the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2023, 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