Australia: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Australia

The Australian tall oil fatty acids market soared to $X in 2021, picking up by 54% 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). Over the period under review, consumption recorded a resilient increase. Tall oil fatty acids consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Industrial Tall Oil Fatty Acids

Exports from Australia

In 2021, shipments abroad of industrial tall oil fatty acids increased by 107% to X tons, rising for the second consecutive year after three years of decline. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 874%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, tall oil fatty acids exports soared to $X in 2021. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 319%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for tall oil fatty acids exports from Australia, with a 94% share of total exports. Moreover, tall oil fatty acids exports to China exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled +193.9%.

In value terms, China ($X) and Thailand ($X) constituted the largest markets for tall oil fatty acids exported from Australia worldwide.

In terms of the main countries of destination, China, with a CAGR of +101.9%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average tall oil fatty acids export price amounted to $X per ton, shrinking by -35.2% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 202%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-2.5%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Tall Oil Fatty Acids

Imports into Australia

In 2021, approx. X tons of industrial tall oil fatty acids were imported into Australia; jumping by 53% against 2020 figures. In general, imports saw a strong expansion. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, tall oil fatty acids imports surged to $X in 2021. Over the period under review, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of tall oil fatty acids to Australia, with a 88% share of total imports. Moreover, tall oil fatty acids imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +64.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-12.7% per year) and Sweden (+33.6% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to Australia, comprising 88% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 4.7% share of total imports. It was followed by Sweden, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +69.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-11.6% per year) and Sweden (+39.5% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, with an increase of 2.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2020 when the average import price increased by 10%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Sweden ($X per ton) and the Netherlands ($X per ton), while the price for New Zealand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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