Japan: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Japan

The Japanese carbon dioxide market dropped to $X in 2022, with a decrease of -9.8% against the previous year. Overall, consumption recorded a perceptible downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Carbon Dioxide Production in Japan

In value terms, carbon dioxide production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 113%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Carbon Dioxide Exports

Exports from Japan

After two years of growth, overseas shipments of carbon dioxide decreased by -14.6% to X tons in 2022. Over the period under review, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, carbon dioxide exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 17%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main destinations of carbon dioxide exports from Japan, with a combined 52% share of total exports. Singapore, Taiwan (Chinese), France, Egypt and Estonia lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +24.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbon dioxide exported from Japan were the United States ($X), Germany ($X) and China ($X), with a combined 62% share of total exports. France, Estonia, Singapore, Egypt and Taiwan (Chinese) lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, France, with a CAGR of +16.6%, recorded 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

The average carbon dioxide export price stood at $X per ton in 2022, picking up by 3.7% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide export price increased by +70.9% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 45%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Indonesia (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Japan

In 2022, supplies from abroad of carbon dioxide increased by 14% to X tons, rising for the fifth consecutive year after two years of decline. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 140%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, carbon dioxide imports shrank sharply to $X in 2022. Over the period under review, imports, however, recorded a slight reduction. The pace of growth was the most pronounced in 2020 when imports increased by 39%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of carbon dioxide to Japan, with a 58% share of total imports. Moreover, carbon dioxide imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +63.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+82.2% per year) and Taiwan (Chinese) (+60.3% per year).

In value terms, Australia ($X), China ($X) and Taiwan (Chinese) ($X) constituted the largest carbon dioxide suppliers to Japan, together comprising 87% of total imports.

Among the main suppliers, China, with a CAGR of +66.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per kg, shrinking by -27% against the previous year. In general, the import price continues to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 33%. Over the period under review, average import prices hit record highs at $X per kg in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per kg), while the price for the Philippines ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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