Australia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Australia

The Australian carbon dioxide market reduced to $X in 2022, waning by -9.5% against the previous year. Over the period under review, consumption saw a noticeable slump. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Carbon Dioxide Production in Australia

In value terms, carbon dioxide production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 67%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Carbon Dioxide Exports

Exports from Australia

For the third year in a row, Australia recorded growth in overseas shipments of carbon dioxide, which increased by 87% to X tons in 2022. In general, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 204%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, carbon dioxide exports amounted to $X in 2022. Overall, exports posted a strong increase. The growth pace was the most rapid in 2013 with an increase of 81%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

New Zealand (X tons) was the main destination for carbon dioxide exports from Australia, accounting for a 70% share of total exports. Moreover, carbon dioxide exports to New Zealand exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by Fiji (X tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand stood at +58.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+30.5% per year) and Fiji (-15.2% per year).

In value terms, the largest markets for carbon dioxide exported from Australia were Japan ($X), New Zealand ($X) and Fiji ($X), together comprising 93% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +47.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, declining by -39.6% against the previous year. Overall, the export price saw a pronounced downturn. The growth pace was the most rapid in 2017 when the average export price increased by 62% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to New Zealand ($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 Japan (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Carbon Dioxide Imports

Imports into Australia

In 2022, supplies from abroad of carbon dioxide was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 475%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, carbon dioxide imports shrank remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 198%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of carbon dioxide to Australia, with a 61% share of total imports. Moreover, carbon dioxide imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.0% per year) and Malaysia (+29.1% per year).

In value terms, Italy ($X), Singapore ($X) and China ($X) were the largest carbon dioxide suppliers to Australia, together comprising 68% of total imports. Malaysia and Israel lagged somewhat behind, together accounting for a further 13%.

Malaysia, with a CAGR of +31.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, which is down by -50.7% against the previous year. Over the period under review, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 102% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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