New Zealand: Acetic Acid Market 2024

Acetic Acid Market Size in New Zealand

After six years of decline, the New Zealand acetic acid market increased by 34% to $X in 2021. In general, consumption, however, recorded a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Acetic Acid Production in New Zealand

In value terms, acetic acid production soared to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 53% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Acetic Acid Exports

Exports from New Zealand

In 2021, the amount of acetic acid exported from New Zealand surged to X tons, with an increase of 34% on the previous year. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 11,124% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, acetic acid exports surged to $X in 2021. Overall, exports enjoyed a noticeable increase. The pace of growth was the most pronounced in 2019 with an increase of 8,424%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Fiji (X tons), Australia (X tons) and Papua New Guinea (X tons) were the main destinations of acetic acid exports from New Zealand, with a combined 98% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Papua New Guinea (with a CAGR of +198.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Fiji ($X), Australia ($X) and Papua New Guinea ($X) appeared to be the largest markets for acetic acid exported from New Zealand worldwide, together comprising 98% of total exports.

Papua New Guinea, with a CAGR of +265.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average acetic acid export price amounted to $X per ton, with an increase of 31% against the previous year. Overall, the export price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2013 an increase of 64% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Papua New Guinea ($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 Papua New Guinea (+22.2%), while the prices for the other major destinations experienced a decline.

Acetic Acid Imports

Imports into New Zealand

In 2021, supplies from abroad of acetic acid increased by 22% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 33% against the previous year. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2021.

In value terms, acetic acid imports soared to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), Singapore (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of acetic acid imports to New Zealand, together comprising 71% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +162.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid suppliers to New Zealand were South Korea ($X), Singapore ($X) and Taiwan (Chinese) ($X), together comprising 70% of total imports.

Among the main suppliers, South Korea, with a CAGR of +158.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acetic acid import price stood at $X per ton in 2021, with an increase of 73% against the previous year. In general, the import price recorded slight growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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