Australia and Oceania: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in Australia and Oceania

The industrial oleic acid market in Australia and Oceania shrank notably to $X in 2021, declining by -16.6% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.6% against 2019 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Industrial Oleic Acid Production in Australia and Oceania

In value terms, industrial oleic acid production fell dramatically to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 with an increase of 67%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Industrial Oleic Acid Exports

Exports in Australia and Oceania

In 2021, overseas shipments of industrial oleic acid increased by 15% to X tons, rising for the second consecutive year after seven years of decline. In general, exports, however, showed a sharp descent. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, industrial oleic acid exports totaled $X in 2021. Overall, exports, however, saw a dramatic contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 51%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Australia prevails in exports structure, reaching X tons, which was approx. 98% of total exports in 2021. New Zealand (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to industrial oleic acid exports from Australia stood at -44.7%. At the same time, New Zealand (+9.0%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +9.0% from 2012-2021. From 2012 to 2021, the share of New Zealand increased by +1.9 percentage points.

In value terms, Australia ($X) remains the largest industrial oleic acid supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 2.1% share of total exports.

In Australia, industrial oleic acid exports decreased by an average annual rate of -41.5% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, with a decrease of -12.6% against the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid export price increased by +17.3% against 2019 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 34% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+7.5%).

Industrial Oleic Acid Imports

Imports in Australia and Oceania

In 2021, purchases abroad of industrial oleic acid was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 157%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial oleic acid imports skyrocketed to $X in 2021. In general, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2013 when imports increased by 132%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) was the largest importer of industrial oleic acid, achieving 80% of total imports. It was distantly followed by New Zealand (X tons), committing a 20% share of total imports.

Imports into Australia increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, New Zealand (+11.3%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +11.3% from 2012-2021. From 2012 to 2021, the share of New Zealand increased by +6.4 percentage points.

In value terms, Australia ($X) constitutes the largest market for imported industrial oleic acid in Australia and Oceania, comprising 83% of total imports. The second position in the ranking was held by New Zealand ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia totaled +7.8%.

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, with an increase of 49% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial oleic acid import price increased by +75.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per ton), while New Zealand totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.9%).

Source: IndexBox Platform

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