Australia and Oceania: Salicylic Acid Market 2024

Salicylic Acid Market Size in Australia and Oceania

The salicylic acid market in Australia and Oceania expanded to $X in 2021, increasing by 1.7% against the previous year. The total consumption indicated notable 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, consumption increased by +48.3% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Salicylic Acid Production in Australia and Oceania

In value terms, salicylic acid production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Salicylic Acid Exports

Exports in Australia and Oceania

In 2021, the amount of salicylic acid and its salts exported in Australia and Oceania skyrocketed to X tons, growing by 132% on the year before. Over the period under review, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 133%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, salicylic acid exports soared to $X in 2021. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 228% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia represented the main exporting country with an export of about X tons, which recorded 89% of total exports. It was distantly followed by New Zealand (X kg), comprising an 11% share of total exports.

Australia was also the fastest-growing in terms of the salicylic acid and its salts exports, with a CAGR of +17.5% from 2012 to 2021. At the same time, New Zealand (+15.0%) displayed positive paces of growth. While the share of Australia (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of New Zealand (-2.1 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest salicylic acid supplier in Australia and Oceania, comprising 80% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 20% share of total exports.

In Australia, salicylic acid exports expanded at an average annual rate of +11.8% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, falling by -11.3% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 63% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-4.9%).

Salicylic Acid Imports

Imports in Australia and Oceania

Salicylic acid imports contracted to X tons in 2021, waning by -14% against the previous year. Overall, imports showed a perceptible decline. The growth pace was the most rapid in 2017 when imports increased by 74% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, salicylic acid imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 42%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Australia (X tons) represented the key importer of salicylic acid and its salts, constituting 86% of total imports. It was distantly followed by New Zealand (X tons), committing a 13% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to salicylic acid imports into Australia stood at -3.1%. At the same time, New Zealand (+13.2%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +13.2% from 2012-2021. While the share of New Zealand (+9.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-9.5 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported salicylic acid and its salts in Australia and Oceania, comprising 86% of total imports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia amounted to +3.0%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, growing by 36% against the previous year. Overall, the import price continues to indicate a resilient expansion. The growth pace was the most rapid in 2019 when the import price increased by 237%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.3%).

Source: IndexBox Platform

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