Australia: Chromates Market 2024

Chromates Market Size in Australia

The Australian chromates market reduced sharply to $X in 2022, which is down by -28.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +16.8% against 2020 indices. Chromates consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Chromates Exports

Exports from Australia

In 2022, overseas shipments of chromates, dichromates and peroxochromates decreased by -81.8% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2014 when exports increased by 1,572%. As a result, the exports reached 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 shrank sharply to $X in 2022. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 773%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), New Zealand (X tons) and Chile (X tons) were the main destinations of chromates exports from Australia, together accounting for 82% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +155.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chromates exported from Australia were New Zealand ($X), Indonesia ($X) and Papua New Guinea ($X), together comprising 87% of total exports.

Among the main countries of destination, Papua New Guinea, with a CAGR of +64.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chromates export price stood at $X per ton in 2022, increasing by 45% against the previous year. In general, the export price posted resilient growth. The pace of growth appeared the most rapid in 2015 an increase of 189%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Chile ($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 the United States (+33.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chromates Imports

Imports into Australia

In 2022, purchases abroad of chromates, dichromates and peroxochromates decreased by -53.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a pronounced decrease. The growth pace was the most rapid in 2017 when imports increased by 50% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, chromates imports reduced dramatically to $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 53%. Imports peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest chromates supplier to Australia, with a 86% share of total imports. Moreover, chromates imports from France exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-19.9% per year) and China (+73.4% per year).

In value terms, France ($X) constituted the largest supplier of chromates, dichromates and peroxochromates to Australia, comprising 91% of total imports. The second position in the ranking was held by China ($X), with a 4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from France stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+67.8% per year) and Turkey (-18.4% per year).

Import Prices by Country

The average chromates import price stood at $X per ton in 2022, increasing by 50% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.6% 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 +68.5% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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