Australia: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in Australia

In 2022, the Australian sodium triphosphate market increased by 34% to $X, rising for the third consecutive year after seven years of decline. Overall, consumption showed a perceptible downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sodium Triphosphate Exports

Exports from Australia

After two years of decline, shipments abroad of sodium triphosphate (sodium tripolyphosphates) increased by 116% to X tons in 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2016 with an increase of 863%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, sodium triphosphate exports skyrocketed to $X in 2022. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 432% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Papua New Guinea (X tons) and the Philippines (X tons) were the main destinations of sodium triphosphate exports from Australia, together accounting for 89% of total exports.

From 2015 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +45.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sodium triphosphate exported from Australia were Papua New Guinea ($X), China ($X) and the Philippines ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Papua New Guinea, with a CAGR of +52.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sodium triphosphate export price stood at $X per ton in 2022, shrinking by -42.3% against the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 40%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vanuatu ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Triphosphate Imports

Imports into Australia

In 2022, purchases abroad of sodium triphosphate (sodium tripolyphosphates) decreased by -0.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 2.8% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sodium triphosphate imports surged to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest sodium triphosphate supplier to Australia, with a 66% share of total imports. Moreover, sodium triphosphate imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. Belgium (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.2% per year) and Belgium (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of sodium triphosphate (sodium tripolyphosphates) to Australia, comprising 67% of total imports. The second position in the ranking was held by Belgium ($X), with a 13% share of total imports. It was followed by Thailand, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+10.6% per year) and Thailand (+7.0% per year).

Import Prices by Country

In 2022, the average sodium triphosphate import price amounted to $X per ton, surging by 57% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate import price increased by +96.2% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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