New Zealand: Vulcanised Rubber Thread Market 2023

Vulcanised Rubber Thread Market Size in New Zealand

In 2021, the New Zealand vulcanised rubber thread market increased by 22% to $X, rising for the second year in a row after three years of decline. In general, consumption posted prominent growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Vulcanised Rubber Thread Exports

Exports from New Zealand

In 2021, overseas shipments of vulcanised rubber thread and cord increased by 429% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 34,011%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread exports skyrocketed to $X in 2021. In general, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 32,981% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for vulcanised rubber thread exports from New Zealand, accounting for a 68% share of total exports. Moreover, vulcanised rubber thread exports to Australia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and the United States (+184.7% per year).

In value terms, Australia ($X) remains the key foreign market for vulcanised rubber thread and cord exports from New Zealand, comprising 68% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 16% share of total exports. It was followed by the United States, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and the United States (+253.5% per year).

Export Prices by Country

The average vulcanised rubber thread export price stood at $X per ton in 2021, surging by 9.5% against the previous year. Overall, the export price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2015 an increase of 63%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and the United States ($X per ton), while the average price for exports to Australia ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into New Zealand

In 2021, purchases abroad of vulcanised rubber thread and cord increased by 12% to X tons, rising for the second year in a row after three years of decline. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 74% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber thread imports surged to $X in 2021. Overall, imports showed a noticeable increase. The growth pace was the most rapid in 2020 when imports increased by 82%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of vulcanised rubber thread to New Zealand, with a 84% share of total imports. Moreover, vulcanised rubber thread imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. The UK (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+54.6% per year) and the UK (+124.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of vulcanised rubber thread and cord to New Zealand, comprising 84% of total imports. The second position in the ranking was taken by China ($X), with a 9.5% share of total imports. It was followed by the UK, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+39.9% per year) and the UK (+120.1% per year).

Import Prices by Country

In 2021, the average vulcanised rubber thread import price amounted to $X per ton, jumping by 33% against the previous year. In general, the import price, however, saw a pronounced contraction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and China ($X per ton), while the price for the UK ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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