New Zealand: Paint And Varnish Market 2024

Paint And Varnish Market Size in New Zealand

In 2022, after four years of growth, there was significant decline in the New Zealand paint and varnish market, when its value decreased by -5.4% to $X. Over the period under review, consumption, however, recorded a prominent expansion. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Paint And Varnish Exports

Exports from New Zealand

In 2022, overseas shipments of paints and varnishes increased by 15% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 58%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports soared to $X in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for paint and varnish exports from New Zealand, accounting for a 67% share of total exports. Moreover, paint and varnish exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was held by Fiji (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia totaled +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.6% per year) and Fiji (+4.3% per year).

In value terms, Australia ($X) remains the key foreign market for paints and varnishes exports from New Zealand, comprising 64% of total exports. The second position in the ranking was held by the United States ($X), with a 9.7% share of total exports. It was followed by the UK, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.0% per year) and the UK (+2.7% per year).

Export Prices by Country

The average paint and varnish export price stood at $X per ton in 2022, with an increase of 9.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2015 an increase of 23%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Varnish Imports

Imports into New Zealand

In 2022, after six years of growth, there was significant decline in overseas purchases of paints and varnishes, when their volume decreased by -6.7% to X tons. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.1% against 2014 indices. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, paint and varnish imports expanded rapidly to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.9% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of paint and varnish to New Zealand, with a 63% share of total imports. Moreover, paint and varnish imports from Australia exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was taken by Singapore (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.3% per year) and Singapore (+20.9% per year).

In value terms, Australia ($X) constituted the largest supplier of paints and varnishes to New Zealand, comprising 52% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by the United States, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.9% per year) and the United States (+2.3% per year).

Import Prices by Country

In 2022, the average paint and varnish import price amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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