Australia: Acetone Market 2025

Acetone Market Size in Australia

The Australian acetone market skyrocketed to $X in 2021, picking up by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Acetone Exports

Exports from Australia

In 2021, shipments abroad of acetone increased by 136% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, acetone exports soared to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 124%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for acetone exports from Australia, accounting for a 35% share of total exports. Moreover, acetone exports to New Zealand exceeded the volume sent to the second major destination, Vietnam (X tons), sixfold. Vanuatu (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+27.8% per year) and Vanuatu (+20.6% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for acetone exports from Australia, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total exports. It was followed by Vanuatu, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+34.2% per year) and Vanuatu (+24.2% per year).

Export Prices by Country

In 2021, the average acetone export price amounted to $X per ton, falling by -50.4% against the previous year. In general, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2019 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then declined dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Vanuatu ($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 Vietnam (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Acetone Imports

Imports into Australia

In 2021, approx. X tons of acetone were imported into Australia; increasing by 5% compared with the previous year. In general, imports, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2016 with an increase of 10%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, acetone imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 52% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest acetone supplier to Australia, accounting for a 76% share of total imports. Moreover, acetone imports from Singapore exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. South Korea (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+10.0% per year) and South Korea (+19.2% per year).

In value terms, Singapore ($X) constituted the largest supplier of acetone to Australia, comprising 71% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by China, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.2% per year) and China (+32.6% per year).

Import Prices by Country

In 2021, the average acetone import price amounted to $X per ton, surging by 38% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acetone import price increased by +96.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 44% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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