Australia: Propene Market 2024

Propene Market Size in Australia

In 2021, the Australian propene market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.3% against 2018 indices. Propene consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Propene Production in Australia

In value terms, propene production rose notably to $X in 2021 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.6% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 32% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Propene Exports

Exports from Australia

In 2021, propene exports from Australia skyrocketed to X kg, with an increase of 119% compared with 2020 figures. In general, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 398%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, propene exports skyrocketed to $X in 2021. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 371% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Fiji (X kg) was the main destination for propene exports from Australia, accounting for a 86% share of total exports. Moreover, propene exports to Fiji exceeded the volume sent to the second major destination, New Zealand (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Fiji stood at +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+11.1% per year) and Papua New Guinea (+3.9% per year).

In value terms, New Zealand ($X), Fiji ($X) and Papua New Guinea ($X) appeared to be the largest markets for propene exported from Australia worldwide, with a combined 99.9% share of total exports.

Fiji, with a CAGR of +40.8%, saw the highest growth rate of the value of exports, among the main countries of destination 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 propene export price amounted to $X per ton, falling by -22.7% against the previous year. Over the period under review, the export price, however, showed a pronounced increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 54% against the previous year. The export price peaked at $X per ton in 2020, and then contracted significantly in the following year.

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 Papua New Guinea ($X per ton), while the average price for exports to Fiji ($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 New Zealand (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Propene Imports

Imports into Australia

After four years of growth, supplies from abroad of propene (propylene) decreased by -18.4% to X tons in 2021. Overall, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 1,269% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then shrank remarkably in the following year.

In value terms, propene imports dropped rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 864%. Over the period under review, imports attained the maximum at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of propene to Australia, with a 66% share of total imports. Moreover, propene imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +22.0%.

In value terms, the largest propene suppliers to Australia were the United States ($X) and China ($X).

Among the main suppliers, China, with a CAGR of +71.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average propene import price stood at $X per ton in 2021, dropping by -4.2% against the previous year. Over the period under review, the import price, however, posted a measured expansion. The growth pace was the most rapid in 2019 an increase of 65% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.9%).

Source: IndexBox Platform

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