Australia: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Australia

In 2021, the Australian iron oxide pigment market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron Oxide Pigment Production in Australia

In value terms, iron oxide pigment production amounted to $X in 2021 estimated in export price. Overall, production faced a dramatic downturn. The pace of growth was the most pronounced in 2013 with an increase of 272% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Iron Oxide Pigment Exports

Exports from Australia

In 2021, overseas shipments of iron oxide pigments increased by 174% to X tons, rising for the second year in a row after six years of decline. Over the period under review, exports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2013 when exports increased by 239% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, iron oxide pigment exports surged to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), New Zealand (X tons) and China (X tons) were the main destinations of iron oxide pigment exports from Australia, together comprising 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +118.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X) emerged as the key foreign market for iron oxide pigments exports from Australia, comprising 68% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 26% share of total exports. It was followed by China, with a 2% share.

From 2012 to 2021, the average annual growth rate of value to South Korea totaled +88.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+11.0% per year) and China (-21.7% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, surging by 25% against the previous year. Over the period under review, the export price recorded temperate growth. The growth pace was the most rapid in 2014 when the average export price increased by 66% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 Colombia (+20.3%), while the prices for the other major destinations experienced mixed trend patterns.

Iron Oxide Pigment Imports

Imports into Australia

In 2021, approx. X tons of iron oxide pigments were imported into Australia; growing by 12% on 2020 figures. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 19% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, iron oxide pigment imports soared to $X in 2021. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest iron oxide pigment supplier to Australia, accounting for a 60% share of total imports. Moreover, iron oxide pigment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by New Zealand (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.0% per year) and New Zealand (-1.5% per year).

In value terms, China ($X) constituted the largest supplier of iron oxide pigments to Australia, comprising 72% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by the United States, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and the United States (+5.2% per year).

Import Prices by Country

In 2021, the average iron oxide pigment import price amounted to $X per ton, with an increase of 13% against the previous year. Overall, the import price, however, recorded a slight setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 China ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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