New Zealand: Polystyrene Market 2024

Polystyrene Market Size in New Zealand

The New Zealand polystyrene market shrank to $X in 2022, with a decrease of -8.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a pronounced reduction. Polystyrene consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Polystyrene Exports

Exports from New Zealand

In 2022, approx. X tons of polystyrene were exported from New Zealand; jumping by 45% against 2021 figures. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 654%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, polystyrene exports skyrocketed to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 593%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X tons) was the main destination for polystyrene exports from New Zealand, with a 63% share of total exports. Moreover, polystyrene exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +213.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+99.4% per year) and Hong Kong SAR (+58.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for polystyrene exports from New Zealand, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports. It was followed by Hong Kong SAR, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +174.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+3.3% per year) and Hong Kong SAR (+43.8% per year).

Export Prices by Country

In 2022, the average polystyrene export price amounted to $X per ton, which is down by -13.3% against the previous year. In general, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 140%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, 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 China ($X per ton), while the average price for exports to Malaysia ($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 Singapore (+77.1%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into New Zealand

Polystyrene imports into New Zealand declined to X tons in 2022, with a decrease of -11.3% compared with the previous year's figure. In general, imports showed a mild descent. The growth pace was the most rapid in 2019 with an increase of 126% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, polystyrene imports rose to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 84%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest polystyrene supplier to New Zealand, accounting for a 51% share of total imports. Moreover, polystyrene imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by China (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.4% per year) and China (+5.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of polystyrene to New Zealand, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 23% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.6% per year) and China (+5.5% per year).

Import Prices by Country

The average polystyrene import price stood at $X per ton in 2022, surging by 15% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +71.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 50%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hong Kong SAR ($X per ton) and Indonesia ($X per ton), while the price for Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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