Australia and Oceania: Chromates Market 2024

Chromates Market Size in Australia and Oceania

The chromates market in Australia and Oceania shrank significantly to $X in 2022, with a decrease of -22.9% against the previous year. In general, consumption continues to indicate a perceptible decline. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Chromates Production in Australia and Oceania

In value terms, chromates production declined dramatically to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 134,666,000% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Chromates Exports

Exports in Australia and Oceania

In 2022, the amount of chromates, dichromates and peroxochromates exported in Australia and Oceania reduced markedly to X tons, with a decrease of -81.6% compared with 2021. Over the period under review, exports faced a precipitous contraction. The pace of growth appeared the most rapid in 2014 with an increase of 427%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chromates exports contracted rapidly to $X in 2022. Overall, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 271%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia prevails in exports structure, resulting at X tons, which was near 98% of total exports in 2022. New Zealand (X kg) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the chromates, dichromates and peroxochromates exports, with a CAGR of -20.9% from 2012 to 2022. New Zealand (-41.1%) illustrated a downward trend over the same period. While the share of Australia (+26 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-25.7 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest chromates supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was held by New Zealand ($X), with a 1.8% share of total exports.

In Australia, chromates exports contracted by an average annual rate of -16.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, picking up by 45% against the previous year. Overall, the export price enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 an increase of 56% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.7%).

Chromates Imports

Imports in Australia and Oceania

Chromates imports contracted rapidly to X tons in 2022, reducing by -46.3% against 2021 figures. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, chromates imports fell notably to $X in 2022. Overall, imports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 35%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Australia represented the main importer of chromates, dichromates and peroxochromates in Australia and Oceania, with the volume of imports resulting at X tons, which was approx. 76% of total imports in 2022. It was distantly followed by New Zealand (X tons), constituting a 19% share of total imports. Papua New Guinea (X tons) and Samoa (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromates imports into Australia stood at -4.7%. At the same time, Samoa (+45.0%) and Papua New Guinea (+6.2%) displayed positive paces of growth. Moreover, Samoa emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +45.0% from 2012-2022. By contrast, New Zealand (-18.0%) illustrated a downward trend over the same period. Australia (+33 p.p.), Papua New Guinea (+2.1 p.p.) and Samoa (+2 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by -29.1% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported chromates, dichromates and peroxochromates in Australia and Oceania, comprising 76% of total imports. The second position in the ranking was held by New Zealand ($X), with a 21% share of total imports. It was followed by Papua New Guinea, with a 1.6% share.

In Australia, chromates imports increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-10.3% per year) and Papua New Guinea (-10.1% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by 39% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromates import price increased by +104.9% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+9.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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