Australia: Isocyanates Market 2024

Isocyanates Market Size in Australia

The Australian isocyanates market declined to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a slight slump. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Isocyanates Production in Australia

In value terms, isocyanates production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports from Australia

In 2022, shipments abroad of isocyanates decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, isocyanates exports declined dramatically to $X in 2022. In general, exports saw a deep contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons), New Zealand (X tons) and South Africa (X tons) were the main destinations of isocyanates exports from Australia, with a combined X% share of total exports. Indonesia, the Netherlands, Papua New Guinea, the United States and China lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Brazil ($X), New Zealand ($X) and South Africa ($X) appeared to be the largest markets for isocyanates exported from Australia worldwide, with a combined X% share of total exports. The Netherlands, Indonesia, the United States, Papua New Guinea and China lagged somewhat behind, together accounting for a further X%.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

Isocyanates Imports

Imports into Australia

In 2022, after two years of growth, there was significant decline in supplies from abroad of isocyanates, when their volume decreased by X% to X tons. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. 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, isocyanates imports declined to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest isocyanates supplier to Australia, accounting for a X% share of total imports. Moreover, isocyanates imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sevenfold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and France (X% per year).

In value terms, China ($X) constituted the largest supplier of isocyanates to Australia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average isocyanates import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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