Australia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Australia

The Australian conveyor or transmission belt market dropped notably to $X in 2021, which is down by -17.1% against the previous year. Over the period under review, consumption showed a deep reduction. Conveyor or transmission belt consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Australia

In value terms, conveyor or transmission belt production declined sharply to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 178%. As a result, production attained the peak level of $X, and then fell markedly in the following year.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Australia

In 2021, the amount of conveyor or transmission belts or belting exported from Australia surged to X tons, increasing by 46% against 2020 figures. In general, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 283%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, conveyor or transmission belt exports reached $X in 2021. Overall, exports showed tangible growth. The growth pace was the most rapid in 2017 when exports increased by 101% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Indonesia (X tons) and India (X tons) were the main destinations of conveyor or transmission belt exports from Australia, with a combined 52% share of total exports. These countries were followed by China, Brazil, New Zealand and Papua New Guinea, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +69.3%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Indonesia ($X) and Brazil ($X) appeared to be the largest markets for conveyor or transmission belt exported from Australia worldwide, together accounting for 55% of total exports.

Among the main countries of destination, Brazil, with a CAGR of +55.4%, recorded the highest rates of growth with regard to 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

In 2021, the average conveyor or transmission belt export price amounted to $X per ton, waning by -27.8% against the previous year. In general, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 80%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.9%), while the prices for the other major destinations experienced a decline.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Australia

In 2021, conveyor or transmission belt imports into Australia expanded markedly to X tons, increasing by 7.2% against the previous year's figure. Over the period under review, imports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2017 when imports increased by 16%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt imports rose sharply to $X in 2021. Overall, imports, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2017 with an increase of 30% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of conveyor or transmission belt to Australia, with a 66% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), ninefold. The third position in this ranking was taken by Thailand (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-26.4% per year) and Thailand (-0.8% per year).

In value terms, China ($X) constituted the largest supplier of conveyor or transmission belts or belting to Australia, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Thailand, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.4% per year) and Thailand (+14.1% per year).

Import Prices by Country

The average conveyor or transmission belt import price stood at $X per ton in 2021, increasing by 4% against the previous year. Over the period under review, import price indicated a resilient 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, conveyor or transmission belt import price increased by +94.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 59%. The import price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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