New Zealand: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in New Zealand

The New Zealand market for oil and water paints and varnishes shrank to $X in 2021, with a decrease of -12.9% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Production of Oil And Water Paints And Varnishes in New Zealand

In value terms, production of oil and water paints and varnishes declined to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 39%. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports from New Zealand

In 2021, after two years of decline, there was significant growth in overseas shipments of oil and water paints and varnishes, when their volume increased by 84% to X tons. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 198%. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of oil and water paints and varnishes soared to $X in 2021. Overall, exports enjoyed a prominent expansion. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X tons), the United States (X tons) and Chile (X tons) were the main destinations of exports of oil and water paints and varnishes from New Zealand, with a combined 79% share of total exports. Ireland, the UK and Singapore lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +37.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oil and water paints and varnishes exported from New Zealand were Australia ($X), the United States ($X) and Chile ($X), together accounting for 79% of total exports. The UK, Ireland and Singapore lagged somewhat behind, together comprising a further 9.7%.

Among the main countries of destination, Singapore, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for oil and water paints and varnishes stood at $X per ton in 2021, picking up by 20% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 46% 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 the UK ($X per ton), while the average price for exports to Singapore ($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 Chile (+14.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oil And Water Paints And Varnishes

Imports into New Zealand

In 2021, approx. X tons of oil and water paints and varnishes were imported into New Zealand; picking up by 10% against the year before. Overall, imports saw a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 47%. Over the period under review, imports of reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. In general, imports saw a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 37% against the previous year. Over the period under review, imports of attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Australia (X tons) constituted the largest supplier of oil and water paints and varnishes to New Zealand, accounting for a 68% share of total imports. Moreover, imports of oil and water paints and varnishes from Australia exceeded the figures recorded by the second-largest supplier, the UK (X tons), sevenfold. The third position in this ranking was held by Germany (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+13.1% per year) and Germany (+6.9% per year).

In value terms, Australia ($X) constituted the largest supplier of oil and water paints and varnishes to New Zealand, comprising 61% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by the United States, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.4% per year) and the United States (+6.1% per year).

Import Prices by Country

The average import price for oil and water paints and varnishes stood at $X per ton in 2021, increasing by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2015 an increase of 30%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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