New Zealand: Salicylic Acid Market 2024

Salicylic Acid Market Size in New Zealand

The New Zealand salicylic acid market shrank to $X in 2021, with a decrease of -8% 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). Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Salicylic Acid Exports

Exports from New Zealand

In 2021, the amount of salicylic acid and its salts exported from New Zealand soared to X kg, rising by 90% on the previous year's figure. Over the period under review, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 262% against the previous year. As a result, the exports attained the peak of X kg. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, salicylic acid exports soared to $X in 2021. Overall, exports saw a moderate expansion. The pace of growth was the most pronounced in 2019 when exports increased by 292% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Samoa (X kg) was the main destination for salicylic acid exports from New Zealand, with a 97% share of total exports. It was followed by Niue (X kg), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Samoa totaled +22.3%.

In value terms, Samoa ($X) emerged as the key foreign market for salicylic acid and its salts exports from New Zealand, comprising 86% of total exports. The second position in the ranking was taken by Niue ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Samoa stood at +17.9%.

Export Prices by Country

The average salicylic acid export price stood at $X per ton in 2021, jumping by 35% against the previous year. In general, the export price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 47%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Niue ($X per ton), while the average price for exports to Samoa stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+0.5%), while the prices for the other major destinations experienced a decline.

Salicylic Acid Imports

Imports into New Zealand

Salicylic acid imports into New Zealand reduced modestly to X tons in 2021, declining by -2.7% against 2020 figures. Over the period under review, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 188%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, salicylic acid imports contracted rapidly to $X in 2021. Overall, imports, however, saw resilient growth. The growth pace was the most rapid in 2019 with an increase of 1,417% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest salicylic acid supplier to New Zealand, accounting for a 73% share of total imports. Moreover, salicylic acid imports from Australia exceeded the figures recorded by the second-largest supplier, China (X kg), fivefold. Hong Kong SAR (X kg) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia amounted to +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.7% per year) and Hong Kong SAR (+11.6% per year).

In value terms, Australia ($X) constituted the largest supplier of salicylic acid and its salts to New Zealand, comprising 49% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Hong Kong SAR, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and Hong Kong SAR (+17.7% per year).

Import Prices by Country

The average salicylic acid import price stood at $X per ton in 2021, with a decrease of -29.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 1,429% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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