New Zealand: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in New Zealand

The New Zealand concrete reinforcing bar market contracted to $X in 2022, waning by -1.6% against the previous year. Overall, consumption, however, recorded prominent growth. Concrete reinforcing bar consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Concrete Reinforcing Bar Production in New Zealand

In value terms, concrete reinforcing bar production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 128%. Concrete reinforcing bar production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from New Zealand

For the third consecutive year, New Zealand recorded decline in shipments abroad of concrete reinforcing bars, which decreased by -31.4% to X tons in 2022. Over the period under review, exports recorded a sharp downturn. The growth pace was the most rapid in 2019 with an increase of 38% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, concrete reinforcing bar exports dropped sharply to $X in 2022. Overall, exports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2019 when exports increased by 29%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Vanuatu (X tons) was the main destination for concrete reinforcing bar exports from New Zealand, accounting for a 68% share of total exports. Moreover, concrete reinforcing bar exports to Vanuatu exceeded the volume sent to the second major destination, Australia (X tons), fivefold. The third position in this ranking was taken by Cook Islands (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to Vanuatu stood at +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-53.1% per year) and Cook Islands (-13.1% per year).

In value terms, Vanuatu ($X) remains the key foreign market for concrete reinforcing bars exports from New Zealand, comprising 58% of total exports. The second position in the ranking was held by Australia ($X), with a 22% share of total exports. It was followed by Cook Islands, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Vanuatu stood at +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-48.5% per year) and Cook Islands (-11.1% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, surging by 16% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +39.0% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Vanuatu ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+9.7%), while the prices for the other major destinations experienced mixed trend patterns.

Concrete Reinforcing Bar Imports

Imports into New Zealand

In 2022, purchases abroad of concrete reinforcing bars increased by 77% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a mild contraction. The pace of growth was the most pronounced in 2016 when imports increased by 189%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, concrete reinforcing bar imports surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 130%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and Australia (X tons) were the main suppliers of concrete reinforcing bar imports to New Zealand, together comprising 88% of total imports. Turkey, the UK and the United States lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Australia ($X) were the largest concrete reinforcing bar suppliers to New Zealand, with a combined 81% share of total imports. Turkey, the United States and the UK lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, the United States, with a CAGR of +37.4%, saw the highest rates of growth with regard to 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

In 2022, the average concrete reinforcing bar import price amounted to $X per ton, waning by -4% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +152.7% against 2016 indices. The growth pace was the most rapid in 2017 when the average import price increased by 45%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 United States (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :