Australia: Resinoids Market 2022

Resinoids Market Size in Australia

In 2021, the Australian resinoids market increased by 8.5% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption enjoyed a noticeable expansion. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Resinoids Production in Australia

In value terms, resinoids production rose to $X in 2021 estimated in export price. In general, production recorded temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of 106% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Resinoids Exports

Exports from Australia

Resinoids exports from Australia skyrocketed to X tons in 2021, jumping by 16% compared with the previous year's figure. Overall, exports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 254% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, resinoids exports reduced sharply to $X in 2021. In general, exports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2015 when exports increased by 221% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then dropped notably in the following year.

Exports by Country

New Zealand (X tons) was the main destination for resinoids exports from Australia, accounting for a 84% share of total exports. Moreover, resinoids exports to New Zealand exceeded the volume sent to the second major destination, Taiwan (Chinese) (X kg), more than tenfold. China (X kg) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand stood at +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-5.8% per year) and China (-29.6% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for resinoids exports from Australia, comprising 48% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to New Zealand stood at +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and the United States (-17.6% per year).

Export Prices by Country

In 2021, the average resinoids export price amounted to $X per ton, falling by -57.3% against the previous year. Over the period under review, the export price, however, recorded resilient growth. The pace of growth appeared the most rapid in 2014 an increase of 715% against the previous year. The export price peaked at $X per ton in 2020, and then shrank significantly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into Australia

In 2021, approx. X tons of resinoids were imported into Australia; increasing by 106% compared with the year before. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 171%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, resinoids imports surged to $X in 2021. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by 83%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest resinoids supplier to Australia, with a 70% share of total imports. Moreover, resinoids imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by the UK (X kg), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.3% per year) and the UK (+21.2% per year).

In value terms, India ($X), the United States ($X) and the UK ($X) were the largest resinoids suppliers to Australia, together accounting for 64% of total imports. These countries were followed by the United Arab Emirates, Egypt, France and China, which together accounted for a further 22%.

The United Arab Emirates, with a CAGR of +146.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average resinoids import price stood at $X per ton in 2021, reducing by -42.8% against the previous year. In general, the import price continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2017 an increase of 75% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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