Australia: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Australia

The Australian sulphuric acid market soared to $X in 2021, growing by 155% against the previous year. Overall, consumption, however, recorded a noticeable decline. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Sulphuric Acid Production in Australia

In value terms, sulphuric acid production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the immediate term.

Sulphuric Acid Exports

Exports from Australia

In 2021, approx. X tons of sulphuric acid and oleum were exported from Australia; picking up by 6.3% against 2020 figures. Overall, exports recorded resilient growth. The growth pace was the most rapid in 2015 when exports increased by 2,248% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, sulphuric acid exports surged to $X in 2021. In general, exports recorded notable growth. The growth pace was the most rapid in 2018 when exports increased by 757% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Chile (X tons), India (X tons) and New Zealand (X tons) were the main destinations of sulphuric acid exports from Australia, together comprising 88% of total exports. Brazil and Indonesia lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +54.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) emerged as the key foreign market for sulphuric acid and oleum exports from Australia, comprising 54% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 17% share of total exports. It was followed by Brazil, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile amounted to +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-2.3% per year) and Brazil (+58.1% per year).

Export Prices by Country

In 2021, the average sulphuric acid export price amounted to $X per ton, rising by 119% against the previous year. Over the period under review, the export price, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2014 an increase of 211%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Indonesia ($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 Brazil (+2.5%), while the prices for the other major destinations experienced a decline.

Sulphuric Acid Imports

Imports into Australia

In 2022, imports of sulphuric acid and oleum into Australia contracted notably to X tons, with a decrease of -25% compared with the previous year. In general, imports showed a deep reduction. The growth pace was the most rapid in 2015 with an increase of 104%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sulphuric acid imports soared to $X in 2022. Overall, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 543%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of sulphuric acid to Australia, accounting for a 66% share of total imports. Moreover, sulphuric acid imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to -12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-21.4% per year) and China (-3.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of sulphuric acid and oleum to Australia, comprising 40% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.2% per year) and China (+9.7% per year).

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, jumping by 151% against the previous year. Over the period under review, the import price recorded a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of 548% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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