Australia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Australia

The Australian alkyd resins market stood at $X in 2022, stabilizing at the previous year. In general, 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.

Alkyd Resins Production in Australia

In value terms, alkyd resins production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 19% against the previous year. 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.

Alkyd Resins Exports

Exports from Australia

Alkyd resins exports from Australia shrank to X tons in 2022, which is down by -10.9% compared with the previous year. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 151%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports reduced to $X in 2022. Over the period under review, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 126%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for alkyd resins exports from Australia, accounting for a 82% share of total exports. Moreover, alkyd resins exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.8% per year) and China (+18.7% per year).

In value terms, New Zealand ($X) remains the key foreign market for alkyd resins in primary forms exports from Australia, comprising 73% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Papua New Guinea, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand amounted to +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.8% per year) and Papua New Guinea (-8.6% per year).

Export Prices by Country

The average alkyd resins export price stood at $X per ton in 2022, surging by 5.1% against the previous year. Over the period under review, the export price, however, saw a slight descent. The pace of growth was the most pronounced in 2021 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Australia

In 2022, overseas purchases of alkyd resins in primary forms decreased by -10.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.1% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 58% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, alkyd resins imports reached $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +46.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 70% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest alkyd resins supplier to Australia, with a 44% share of total imports. Moreover, alkyd resins imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+13.1% per year) and Italy (+4.8% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of alkyd resins in primary forms to Australia, comprising 42% of total imports. The second position in the ranking was held by Austria ($X), with a 15% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+10.3% per year) and Italy (+7.1% per year).

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, surging by 25% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($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 Arab Emirates (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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