New Zealand: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in New Zealand

The New Zealand iron oxide pigment market soared to $X in 2021, growing by 145% against the previous year. In general, consumption recorded a prominent increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Iron Oxide Pigment Production in New Zealand

In value terms, iron oxide pigment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 448%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Iron Oxide Pigment Exports

Exports from New Zealand

In 2021, the amount of iron oxide pigments exported from New Zealand surged to X tons, jumping by 75% against 2020 figures. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 3,380% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, iron oxide pigment exports surged to $X in 2021. In general, exports showed a noticeable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 2,097% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for iron oxide pigment exports from New Zealand, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia amounted to +25.2%.

In value terms, Australia ($X) also remains the key foreign market for iron oxide pigments exports from New Zealand.

From 2012 to 2021, the average annual growth rate of value to Australia stood at +14.7%.

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, with a decrease of -15.4% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 an increase of 207%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -2.8% per year.

Iron Oxide Pigment Imports

Imports into New Zealand

In 2021, purchases abroad of iron oxide pigments decreased by -6.1% to X tons, falling for the second year in a row after four years of growth. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 35% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports amounted to $X in 2021. The total import value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 46%. Imports peaked at $X in 2019; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Germany (X tons) constituted the largest iron oxide pigment supplier to New Zealand, accounting for a 70% share of total imports. Moreover, iron oxide pigment imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and Italy (-5.3% per year).

In value terms, Germany ($X) constituted the largest supplier of iron oxide pigments to New Zealand, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Italy, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.6% per year) and Italy (-7.0% per year).

Import Prices by Country

In 2021, the average iron oxide pigment import price amounted to $X per ton, growing by 6.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 7.6%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a 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 Australia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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