Japan: Carbides Market 2024

Carbides Market Size in Japan

The Japanese carbides market shrank to $X in 2022, falling by -3.4% against the previous year. Overall, consumption showed a deep slump. Carbides consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in Japan

In value terms, carbides production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. Carbides production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Carbides Exports

Exports from Japan

In 2022, carbides exports from Japan contracted to X tons, which is down by -9.8% compared with 2021. Over the period under review, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 77%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, carbides exports shrank modestly to $X in 2022. Overall, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 when exports increased by 52% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tons) was the main destination for carbides exports from Japan, accounting for a 35% share of total exports. Moreover, carbides exports to Hungary exceeded the volume sent to the second major destination, Mexico (X tons), twofold. South Korea (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary amounted to +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+116.1% per year) and South Korea (-7.3% per year).

In value terms, China ($X), the United States ($X) and Hungary ($X) were the largest markets for carbides exported from Japan worldwide, together accounting for 54% of total exports. South Korea, Taiwan (Chinese), Mexico, Malaysia, Poland and Thailand lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Mexico, with a CAGR of +112.0%, saw the highest rates of growth with regard to the value of exports, 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 carbides export price amounted to $X per ton, rising by 9.5% against the previous year. In general, the export price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 27%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 China (+6.7%), while the prices for the other major destinations experienced a decline.

Carbides Imports

Imports into Japan

In 2022, carbides imports into Japan fell to X tons, declining by -10.5% against 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 40%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, carbides imports skyrocketed to $X in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 53%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest carbides supplier to Japan, with a 87% share of total imports. Moreover, carbides imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of carbides to Japan, comprising 78% of total imports. The second position in the ranking was held by Vietnam ($X), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +2.5%.

Import Prices by Country

The average carbides import price stood at $X per ton in 2022, rising by 33% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 42%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 China ($X per ton), while the price for Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%).

Source: IndexBox Platform

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