New Zealand: Styrene Market 2024

Styrene Market Size in New Zealand

In 2021, after two years of growth, there was significant decline in the New Zealand styrene market, when its value decreased by -5.3% to $X. In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +43.0% against 2018 indices. Styrene consumption peaked at $X in 2020, and then contracted in the following year.

Styrene Production in New Zealand

In value terms, styrene production fell to $X in 2021 estimated in export price. Overall, production, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Styrene Exports

Exports from New Zealand

In 2021, shipments abroad of styrene was finally on the rise to reach X kg for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 1,049% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, styrene exports surged to $X in 2021. In general, exports continue to indicate modest growth. The most prominent rate of growth was recorded in 2018 when exports increased by 261% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vanuatu (X kg) was the main destination for styrene exports from New Zealand, accounting for a 56% share of total exports. Moreover, styrene exports to Vanuatu exceeded the volume sent to the second major destination, Australia (X kg), threefold. The third position in this ranking was held by Fiji (X kg), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Vanuatu totaled -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-16.3% per year) and Fiji (-23.2% per year).

In value terms, Vanuatu ($X) remains the key foreign market for styrene exports from New Zealand, comprising 75% of total exports. The second position in the ranking was taken by Australia ($X), with an 8.6% share of total exports. It was followed by Fiji, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vanuatu totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-7.4% per year) and Fiji (-15.5% per year).

Export Prices by Country

The average styrene export price stood at $X per ton in 2021, waning by -6.7% against the previous year. Overall, the export price, however, saw a prominent increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 251% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Caledonia ($X per ton), while the average price for exports to Australia ($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 New Caledonia (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Styrene Imports

Imports into New Zealand

In 2021, supplies from abroad of styrene increased by 97% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, faced a abrupt downturn. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, styrene imports surged to $X in 2021. Overall, imports, however, recorded a abrupt decrease. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Taiwan (Chinese) (X tons) and Australia (X tons) were the main suppliers of styrene imports to New Zealand, with a combined 77% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +58.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Indonesia ($X) and the Netherlands ($X) constituted the largest styrene suppliers to New Zealand, with a combined 74% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +245.0%, 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 styrene import price amounted to $X per ton, increasing by 83% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+123.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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