Japan: Amino Resin Market 2024

Amino Resin Market Size in Japan

The Japanese amino resin market fell to $X in 2022, which is down by -9.7% against the previous year. In general, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Amino Resin Production in Japan

In value terms, amino resin production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.2% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 61% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Amino Resin Exports

Exports from Japan

Amino resin exports from Japan shrank slightly to X tons in 2022, waning by -3.8% compared with the previous year. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 39%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, amino resin exports shrank to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 65% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for amino resin exports from Japan, accounting for a 51% share of total exports. Moreover, amino resin exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. Vietnam (X tons) ranked third in terms of total exports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+31.7% per year) and Vietnam (+25.8% per year).

In value terms, China ($X) remains the key foreign market for amino resins exports from Japan, comprising 47% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total exports. It was followed by Malaysia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to China totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+25.0% per year) and Malaysia (+23.5% per year).

Export Prices by Country

The average amino resin export price stood at $X per ton in 2022, which is down by -9.8% against the previous year. Overall, the export price showed a slight slump. The pace of growth appeared the most rapid in 2017 when the average export price increased by 76% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Malaysia ($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 Turkey (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Japan

In 2022, purchases abroad of amino resins decreased by -16.1% to X tons, falling for the third consecutive year after four years of growth. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 23% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, amino resin imports dropped modestly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 32%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest amino resin supplier to Japan, with a 64% share of total imports. Moreover, amino resin imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was held by Saudi Arabia (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.8% per year) and Saudi Arabia (+66.3% per year).

In value terms, China ($X) constituted the largest supplier of amino resins to Japan, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with a 21% share of total imports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-7.3% per year) and Saudi Arabia (+66.3% per year).

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, picking up by 13% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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