Japan: Alkyd Resins Market 2024

Alkyd Resins Market Size in Japan

The Japanese alkyd resins market dropped slightly to $X in 2022, shrinking by -4.2% against the previous year. Over the period under review, consumption saw a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in Japan

In value terms, alkyd resins production reduced modestly to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 31%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports from Japan

In 2022, the amount of alkyd resins in primary forms exported from Japan fell modestly to X tons, flattening at the previous year. Over the period under review, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 30%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, alkyd resins exports dropped slightly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons), China (X tons) and Indonesia (X tons) were the main destinations of alkyd resins exports from Japan, together comprising 47% of total exports. Vietnam, the United States, Pakistan, South Korea, India, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +15.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for alkyd resins exported from Japan were the United States ($X), China ($X) and Thailand ($X), together accounting for 49% of total exports. Vietnam, Indonesia, Pakistan, Malaysia, India, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 42%.

Vietnam, with a CAGR of +13.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Pakistan ($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 the United States (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Alkyd Resins Imports

Imports into Japan

In 2022, overseas purchases of alkyd resins in primary forms increased by 32% to X tons, rising for the second consecutive year after five years of decline. Overall, imports posted a notable increase. The growth pace was the most rapid in 2021 when imports increased by 164% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, alkyd resins imports soared to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 107% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest supplier of alkyd resins to Japan, accounting for a 69% share of total imports. Moreover, alkyd resins imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) totaled +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.3% per year) and the United States (+53.4% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of alkyd resins in primary forms to Japan, comprising 52% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Austria, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.0% per year) and Austria (-5.3% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, with a decrease of -7% against the previous year. In general, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 7.9% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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