Australia: Adipic Acid Market 2024

Adipic Acid Market Size in Australia

The Australian adipic acid market contracted to $X in 2022, which is down by -8.3% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Adipic Acid Production in Australia

In value terms, adipic acid production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 89%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Adipic Acid Exports

Exports from Australia

In 2022, adipic acid exports from Australia rose significantly to X tons, picking up by 9.7% compared with 2021 figures. In general, exports showed a significant expansion. The growth pace was the most rapid in 2016 with an increase of 9,333,233% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, adipic acid exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 5,696,291% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for adipic acid exports from Australia, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand amounted to +207.5%.

In value terms, New Zealand ($X) also remains the key foreign market for adipic acid, its salts and esters exports from Australia.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to +190.3%.

Export Prices by Country

In 2022, the average adipic acid export price amounted to $X per ton, picking up by 12% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2018 when the average export price increased by 22% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for New Zealand.

From 2012 to 2022, the rate of growth in terms of prices for New Zealand amounted to -5.6% per year.

Adipic Acid Imports

Imports into Australia

In 2022, imports of adipic acid, its salts and esters into Australia surged to X tons, growing by 40% on the previous year. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, adipic acid imports soared to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +92.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest adipic acid supplier to Australia, with a 71% share of total imports. Moreover, adipic acid imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was taken by France (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-9.8% per year) and France (+17.2% per year).

In value terms, China ($X) constituted the largest supplier of adipic acid, its salts and esters to Australia, comprising 61% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by France, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.1% per year) and France (+16.2% per year).

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, surging by 9.8% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +66.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :