New Zealand: Tyre Cord Fabric Market 2022

Tyre Cord Fabric Market Size in New Zealand

In 2021, the New Zealand tyre cord fabric market decreased by -4.5% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then dropped slightly in the following year.

Tyre Cord Fabric Production in New Zealand

In value terms, tyre cord fabric production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2021: its value 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. Based on 2021 figures, production increased by +25.3% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 36% against the previous year. Tyre cord fabric production peaked at $X in 2020, and then fell in the following year.

Tyre Cord Fabric Exports

Exports from New Zealand

In 2020, overseas shipments of tyre cord fabric of high tenacity yarn decreased by -66.5% to X tons, falling for the second year in a row after three years of growth. In general, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 168% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2020, the growth of the exports failed to regain momentum.

In value terms, tyre cord fabric exports shrank sharply to $X in 2020. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 197% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

Exports by Country

Fiji (X tons) was the main destination for tyre cord fabric exports from New Zealand, accounting for a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Fiji totaled +65.4%.

In value terms, Fiji ($X) emerged as the key foreign market for tyre cord fabric exports from New Zealand.

From 2012 to 2020, the average annual rate of growth in terms of value to Fiji amounted to +85.1%.

Export Prices by Country

In 2020, the average tyre cord fabric export price amounted to $X per ton, jumping by 87% against the previous year. Overall, the export price posted a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Fiji.

From 2012 to 2020, the rate of growth in terms of prices for Fiji amounted to +11.8% per year.

Tyre Cord Fabric Imports

Imports into New Zealand

In 2021, overseas purchases of tyre cord fabric of high tenacity yarn were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, faced a deep reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, tyre cord fabric imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of tyre cord fabric to New Zealand, accounting for a 53% share of total imports. Moreover, tyre cord fabric imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Switzerland (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+41.8% per year) and Switzerland (-9.3% per year).

In value terms, China ($X) constituted the largest supplier of tyre cord fabric to New Zealand, comprising 51% of total imports. The second position in the ranking was taken by the United States ($X), with a 20% share of total imports. It was followed by Switzerland, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.7% per year) and Switzerland (-16.4% per year).

Import Prices by Country

In 2021, the average tyre cord fabric import price amounted to $X per ton, with an increase of 8.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 310%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Australia ($X per ton) and France ($X per ton), while the price for the United States ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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