Australia and Oceania: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Australia and Oceania

The salts of acetic acid market in Australia and Oceania surged to $X in 2022, picking up by 21% against the previous year. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +102.3% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Production of Salts Of Acetic Acid in Australia and Oceania

In value terms, salts of acetic acid production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports in Australia and Oceania

Salts of acetic acid exports fell markedly to X tons in 2022, with a decrease of -65.7% compared with the year before. Over the period under review, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 213%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, salts of acetic acid exports fell rapidly to $X in 2022. In general, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 192% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Australia (X tons) represented the key exporter of salts of acetic acid in Australia and Oceania, constituting 100% of total export.

Australia was also the fastest-growing in terms of the salts of acetic acid exports, with a CAGR of +4.2% from 2012 to 2022. While the share of Australia (+59 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest salts of acetic acid supplier in Australia and Oceania.

In Australia, salts of acetic acid exports declined by an average annual rate of -1.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, increasing by 3.9% against the previous year. Over the period under review, the export price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2021 when the export price increased by 121%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to -5.4% per year.

Imports of Salts Of Acetic Acid

Imports in Australia and Oceania

For the fourth consecutive year, Australia and Oceania recorded growth in supplies from abroad of salts of acetic acid, which increased by 9.9% to X tons in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +48.6% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. In general, imports posted a pronounced expansion. The growth pace was the most rapid in 2021 when imports increased by 33%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Australia was the largest importing country with an import of around X tons, which finished at 78% of total imports. It was distantly followed by New Zealand (X tons), constituting an 18% share of total imports. Papua New Guinea (X tons) held a minor share of total imports.

Australia was also the fastest-growing in terms of the salts of acetic acid imports, with a CAGR of +12.9% from 2012 to 2022. New Zealand (-3.5%) and Papua New Guinea (-16.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +44 percentage points.

In value terms, Australia ($X) constitutes the largest market for imported salts of acetic acid in Australia and Oceania, comprising 70% of total imports. The second position in the ranking was held by New Zealand ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia stood at +16.7%. In the other countries, the average annual rates were as follows: New Zealand (-1.1% per year) and Papua New Guinea (-14.0% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, rising by 14% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Papua New Guinea ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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