Japan: Iron Angle Market 2024

Iron Angle Market Size in Japan

In 2021, the Japanese iron angle market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 when the market value increased by 6.3% against the previous year. Iron angle consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Iron Angle Production in Japan

In value terms, iron angle production totaled $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 3.6%. Iron angle production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Iron Angle Exports

Exports from Japan

In 2021, exports of angles, shapes and sections (of iron or non-alloy steel) from Japan dropped to X tons, with a decrease of -9.8% on 2020 figures. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 13% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron angle exports soared to $X in 2021. Over the period under review, exports showed a deep slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for iron angle exports from Japan, accounting for a 59% share of total exports. Moreover, iron angle exports to South Korea exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.0% per year) and Taiwan (Chinese) (-10.2% per year).

In value terms, South Korea ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Japan, comprising 55% of total exports. The second position in the ranking was held by China ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to South Korea stood at -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+3.9% per year) and Taiwan (Chinese) (-9.2% per year).

Export Prices by Country

The average iron angle export price stood at $X per ton in 2021, picking up by 39% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained 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 Hong Kong SAR ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Japan

In 2021, supplies from abroad of angles, shapes and sections (of iron or non-alloy steel) decreased by -35.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports saw a slight descent. The pace of growth was the most pronounced in 2016 with an increase of 69%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron angle imports contracted sharply to $X in 2021. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 81%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of iron angle to Japan, with a 72% share of total imports. Moreover, iron angle imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.9% per year) and Germany (+1.2% per year).

In value terms, South Korea ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to Japan, comprising 66% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.8% per year) and Germany (-0.0% per year).

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, picking up by 28% against the previous year. Overall, the import price, however, recorded a slight decrease. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+67.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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