New Zealand: Insulating Fittings Market 2024

Insulating Fittings Market Size in New Zealand

The New Zealand insulating fittings market soared to $X in 2021, picking up by 25% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Insulating fittings consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Insulating Fittings Production in New Zealand

In value terms, insulating fittings production soared to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. Insulating fittings production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Insulating Fittings Exports

Exports from New Zealand

Insulating fittings exports from New Zealand soared to X tons in 2021, growing by 29% on 2020 figures. Over the period under review, exports, however, showed a deep downturn. The growth pace was the most rapid in 2018 when exports increased by 158%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, insulating fittings exports expanded notably to $X in 2021. Overall, exports, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2013 when exports increased by 117%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Tonga (X tons), Samoa (X tons) and the United States (X tons) were the main destinations of insulating fittings exports from New Zealand, with a combined 81% share 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 the United States (with a CAGR of +48.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Tonga ($X) and the United States ($X) constituted the largest markets for insulating fittings exported from New Zealand worldwide, together comprising 71% of total exports.

The United States, with a CAGR of +24.7%, saw 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

The average insulating fittings export price stood at $X per ton in 2021, falling by -15.5% against the previous year. In general, the export price, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 118%. The export price peaked at $X per ton in 2020, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Samoa ($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 (+64.6%), while the prices for the other major destinations experienced more modest paces of growth.

Insulating Fittings Imports

Imports into New Zealand

In 2021, overseas purchases of insulating fittings for electrical purposes were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a slight reduction. The pace of growth was the most pronounced in 2016 when imports increased by 114% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, insulating fittings imports soared to $X in 2021. Overall, imports enjoyed a moderate increase. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Canada (X tons) and China (X tons) were the main suppliers of insulating fittings imports to New Zealand, together accounting for 76% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +63.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest insulating fittings suppliers to New Zealand were Canada ($X), Taiwan (Chinese) ($X) and the United States ($X), together accounting for 56% of total imports.

Among the main suppliers, Canada, with a CAGR of +41.9%, 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

In 2021, the average insulating fittings import price amounted to $X per ton, growing by 46% against the previous year. In general, the import price saw a strong increase. The pace of growth was the most pronounced in 2014 an increase of 84% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 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, 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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