New Zealand: Polyurethanes Market 2024

Polyurethanes Market Size in New Zealand

In 2021, after two years of decline, there was significant growth in the New Zealand polyurethanes market, when its value increased by 36% to $X. Over the period under review, consumption saw a remarkable increase. Polyurethanes consumption peaked in 2021 and is likely to continue growth in the immediate term.

Polyurethanes Exports

Exports from New Zealand

After three years of decline, shipments abroad of polyurethanes in primary forms increased by 82% to X tons in 2021. Over the period under review, exports, however, faced a sharp decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, polyurethanes exports skyrocketed to $X in 2021. Overall, exports, however, recorded a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for polyurethanes exports from New Zealand, with a 54% share of total exports. Moreover, polyurethanes exports to Australia exceeded the volume sent to the second major destination, French Polynesia (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: French Polynesia (+21.4% per year) and Indonesia (+15.7% per year).

In value terms, Australia ($X) remains the key foreign market for polyurethanes in primary forms exports from New Zealand, comprising 55% of total exports. The second position in the ranking was held by French Polynesia ($X), with an 18% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: French Polynesia (+16.1% per year) and Indonesia (+22.2% per year).

Export Prices by Country

The average polyurethanes export price stood at $X per ton in 2021, picking up by 7.6% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyurethanes export price increased by +29.7% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the United States ($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 the Philippines (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into New Zealand

In 2021, after two years of decline, there was significant growth in overseas purchases of polyurethanes in primary forms, when their volume increased by 28% to X tons. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Australia (X tons), China (X tons) and the United States (X tons) were the main suppliers of polyurethanes imports to New Zealand, together comprising 68% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +52.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United States ($X) and Germany ($X) were the largest polyurethanes suppliers to New Zealand, together comprising 60% of total imports. China, the UK, Italy, Canada, South Korea, the Netherlands, Switzerland, Spain, India and Belgium lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, South Korea, with a CAGR of +38.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, increasing by 9.1% against the previous year. Over the period under review, the import price, however, recorded a slight shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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