New Zealand: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in New Zealand

The New Zealand tall oil fatty acids market contracted markedly to $X in 2021, waning by -37% against the previous year. Over the period under review, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Industrial Tall Oil Fatty Acids in New Zealand

In value terms, tall oil fatty acids production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 34%. Tall oil fatty acids production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports from New Zealand

Tall oil fatty acids exports from New Zealand surged to X tons in 2021, growing by 48% compared with 2020 figures. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 859% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, tall oil fatty acids exports soared to $X in 2021. In general, exports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 772%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X tons), the UK (X tons) and China (X tons) were the main destinations of tall oil fatty acids exports from New Zealand, together comprising 55% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +34.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tall oil fatty acids exported from New Zealand were Australia ($X), the UK ($X) and China ($X), together comprising 48% of total exports.

China, with a CAGR of +28.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tall oil fatty acids export price stood at $X per ton in 2021, picking up by 8.6% against the previous year. Overall, the export price, however, continues to indicate a slight decline. The pace of growth appeared the most rapid in 2019 when the average export price increased by 11% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Belgium ($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 India (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Tall Oil Fatty Acids

Imports into New Zealand

For the fourth consecutive year, New Zealand recorded decline in purchases abroad of industrial tall oil fatty acids, which decreased by -10.6% to X tons in 2021. Over the period under review, imports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 305% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tall oil fatty acids imports shrank to $X in 2021. In general, imports recorded a sharp decrease. The pace of growth was the most pronounced in 2017 when imports increased by 297%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The UK (X tons), the United States (X kg) and Australia (X kg) were the main suppliers of tall oil fatty acids imports to New Zealand.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -4.4%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of industrial tall oil fatty acids to New Zealand, comprising 55% of total imports. The second position in the ranking was taken by Australia ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-17.7% per year) and the UK (-32.0% per year).

Import Prices by Country

The average tall oil fatty acids import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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