New Zealand: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in New Zealand

In 2022, the New Zealand polishes for coachwork market increased by 12% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +45.4% against 2020 indices. Polishes for coachwork consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Polishes For Coachwork Exports

Exports from New Zealand

In 2022, the amount of polishes for coachwork exported from New Zealand reduced to X tons, waning by -4.6% on the previous year's figure. Overall, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 279% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polishes for coachwork exports rose to $X in 2022. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 280% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for polishes for coachwork exports from New Zealand, accounting for a 65% share of total exports. Moreover, polishes for coachwork exports to Australia exceeded the volume sent to the second major destination, Papua New Guinea (X tons), threefold. Cook Islands (X kg) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to Australia amounted to -15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+90.5% per year) and Cook Islands (+52.6% per year).

In value terms, Australia ($X) remains the key foreign market for polishes for coachwork exports from New Zealand, comprising 65% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a 19% share of total exports. It was followed by Cook Islands, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+82.5% per year) and Cook Islands (+52.0% per year).

Export Prices by Country

In 2022, the average polishes for coachwork export price amounted to $X per ton, with an increase of 8.9% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polishes for coachwork export price increased by +13.3% against 2016 indices. The growth pace was the most rapid in 2014 when the average export price increased by 43%. The export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Tonga ($X per ton) and Cook Islands ($X per ton), while the average price for exports to Fiji ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tonga (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into New Zealand

In 2022, supplies from abroad of polishes for coachwork increased by 9.3% to X tons, rising for the second year in a row after two years of decline. The total import 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 pace of growth appeared the most rapid in 2021 with an increase of 31%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports totaled $X in 2022. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of polishes for coachwork to New Zealand, accounting for a 54% share of total imports. Moreover, polishes for coachwork imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by Australia (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+9.9% per year) and Australia (-4.0% per year).

In value terms, the United States ($X) constituted the largest supplier of polishes for coachwork to New Zealand, comprising 54% of total imports. The second position in the ranking was taken by the UK ($X), with a 16% share of total imports. It was followed by Australia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.7% per year) and Australia (-1.4% per year).

Import Prices by Country

The average polishes for coachwork import price stood at $X per ton in 2022, rising by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2020 an increase of 8.9% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and the United States ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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