Australia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Australia

The Australian industrial stearic acid market fell modestly to $X in 2022, which is down by X% against the previous year. In general, consumption showed a noticeable contraction. Industrial stearic acid consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in Australia

In value terms, industrial stearic acid production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of X%. Industrial stearic acid production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports from Australia

In 2022, approx. X tons of industrial stearic acid were exported from Australia; growing by X% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a sharp setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for industrial stearic acid exports from Australia, accounting for a X% share of total exports. Moreover, industrial stearic acid exports to New Zealand exceeded the volume sent to the second major destination, the UK (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to X%.

In value terms, New Zealand ($X) remains the key foreign market for industrial stearic acid exports from Australia, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand totaled X%.

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to the UK totaled $X per ton.

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

Industrial Stearic Acid Imports

Imports into Australia

In 2022, overseas purchases of industrial stearic acid increased by X% to X tons, rising for the fourth year in a row after two years of decline. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume 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 2018 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, industrial stearic acid imports surged to $X in 2022. In general, imports saw prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of industrial stearic acid to Australia, accounting for a X% share of total imports. Moreover, industrial stearic acid imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Germany (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of industrial stearic acid to Australia, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports.

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

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($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 mixed trend patterns.

Source: IndexBox Platform

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