Australia: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Australia

The Australian plastic reservoir market expanded modestly to $X in 2022, growing by 2.8% against the previous year. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.8% against 2020 indices. Plastic reservoir consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Production in Australia

In value terms, plastic reservoir production rose to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports from Australia

In 2022, exports of plastic reservoirs, tanks and vats from Australia expanded markedly to X tons, with an increase of 9% on the previous year's figure. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 187% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic reservoir exports expanded sharply to $X in 2022. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 307%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for plastic reservoir exports from Australia, accounting for a 64% share of total exports. Moreover, plastic reservoir exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X tons), sixfold. The United States (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+7.7% per year) and the United States (+11.7% per year).

In value terms, New Zealand ($X) remains the key foreign market for plastic reservoirs, tanks and vats exports from Australia, comprising 63% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with an 11% share of total exports. It was followed by the United States, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+2.2% per year) and the United States (-3.5% per year).

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, growing by 2.2% against the previous year. In general, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and New Zealand ($X per ton), while the average price for exports to Norfolk Island ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+0.9%), while the prices for the other major destinations experienced a decline.

Plastic Reservoir Imports

Imports into Australia

For the fourth year in a row, Australia recorded growth in purchases abroad of plastic reservoirs, tanks and vats, which increased by 14% to X tons in 2022. Over the period under review, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 144%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic reservoir imports surged to $X in 2022. In general, imports enjoyed strong growth. The pace of growth was the most pronounced in 2017 with an increase of 45% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Malaysia (X tons), Germany (X tons) and Vietnam (X tons) were the main suppliers of plastic reservoir imports to Australia, together comprising 75% of total imports. China, the United States, France, Italy, India and New Zealand lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +46.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Australia were Malaysia ($X), Germany ($X) and Vietnam ($X), together accounting for 75% of total imports. China, the United States, France, Italy, India and New Zealand lagged somewhat behind, together comprising a further 18%.

Italy, with a CAGR of +43.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic reservoir import price stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 41% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Italy ($X per ton), while the price for France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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