New Zealand: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in New Zealand

The New Zealand unvulcanized rubber market declined modestly to $X in 2022, approximately mirroring 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). The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, leveling off in the following year.

Unvulcanized Rubber Exports

Exports from New Zealand

In 2022, overseas shipments of unvulcanized rubber and articles thereof increased by 8.9% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a temperate expansion. The pace of growth was the most pronounced in 2018 with an increase of 235%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, unvulcanized rubber exports soared to $X in 2022. In general, exports saw pronounced growth. The pace of growth was the most pronounced in 2018 when exports increased by 215% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Australia (X tons) was the main destination for unvulcanized rubber exports from New Zealand, with a 80% share of total exports. Moreover, unvulcanized rubber exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was taken by Fiji (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Australia amounted to +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.8% per year) and Fiji (-1.5% per year).

In value terms, Australia ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from New Zealand, comprising 71% of total exports. The second position in the ranking was held by Italy ($X), with a 12% share of total exports. It was followed by the United States, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Australia stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+52.7% per year) and the United States (+10.9% per year).

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, picking up by 23% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Thailand ($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 Italy (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into New Zealand

In 2022, approx. X tons of unvulcanized rubber and articles thereof were imported into New Zealand; shrinking by -13.6% compared with the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 42%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, unvulcanized rubber imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Germany (X tons), China (X tons) and the United States (X tons) were the main suppliers of unvulcanized rubber imports to New Zealand, together accounting for 47% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +15.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanized rubber suppliers to New Zealand were Germany ($X), China ($X) and the United States ($X), with a combined 49% share of total imports. Australia, India, the UK, Malaysia, Italy, Thailand and Indonesia lagged somewhat behind, together accounting for a further 37%.

India, with a CAGR of +20.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, jumping by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, import price attained 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 India ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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