New Zealand: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in New Zealand

The New Zealand nitric and sulphonitric acids market was estimated at $X in 2021, surging by 5.5% against the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.9% against 2019 indices. Nitric and sulphonitric acids consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in New Zealand

In value terms, nitric and sulphonitric acids production rose remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.5% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 69% against the previous year. Nitric and sulphonitric acids production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from New Zealand

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported from New Zealand; with an increase of 128% on the previous year's figure. In general, exports, however, showed a pronounced setback. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. Overall, exports showed a notable expansion. The pace of growth was the most pronounced in 2019 with an increase of 442% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

American Samoa (X tons), New Caledonia (X tons) and French Polynesia (X kg) were the main destinations of nitric and sulphonitric acids exports from New Zealand, together accounting for 95% 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 American Samoa (with a CAGR of +12.9%), while the other leaders experienced mixed trend patterns.

In value terms, American Samoa ($X), New Caledonia ($X) and Niue ($X) appeared to be the largest markets for nitric and sulphonitric acids exported from New Zealand worldwide, together accounting for 84% of total exports. Vanuatu, French Polynesia and Fiji lagged somewhat behind, together comprising a further 3.8%.

French Polynesia, with a CAGR of +8.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, growing by 15% against the previous year. In general, the export price saw prominent growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 225%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to French Polynesia ($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 Fiji (+36.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into New Zealand

In 2021, nitric and sulphonitric acids imports into New Zealand expanded markedly to X tons, with an increase of 5.1% compared with the previous year. In general, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 27%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) was the main nitric and sulphonitric acids supplier to New Zealand, accounting for a 94% share of total imports. Moreover, nitric and sulphonitric acids imports from South Korea exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at +2.8%.

In value terms, South Korea ($X) constituted the largest supplier of nitric acid and sulphonitric acids to New Zealand, comprising 88% of total imports. The second position in the ranking was held by Belgium ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value from South Korea stood at +1.1%.

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, with an increase of 20% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for South Korea amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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