Japan: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Japan

The Japanese metal castor mounting market stood at $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption recorded a mild decline. Metal castor mounting consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Metal Castor Mounting Production in Japan

In value terms, metal castor mounting production totaled $X in 2022 estimated in export price. In general, production showed a noticeable slump. The pace of growth appeared the most rapid in 2018 with an increase of 25%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Metal Castor Mounting Exports

Exports from Japan

In 2022, shipments abroad of castors with mountings of base metal increased by 1.7% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal castor mounting exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of 25%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

China (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) were the main destinations of metal castor mounting exports from Japan, with a combined 51% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for castors with mountings of base metal exports from Japan, comprising 30% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total exports. It was followed by South Korea, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+14.1% per year) and South Korea (+4.3% per year).

Export Prices by Country

In 2022, the average metal castor mounting export price amounted to $X per ton, reducing by -12.5% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the average export price increased by 25%. The export price peaked at $X per ton in 2021, and then contracted in the following year.

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 ($X per ton), while the average price for exports to Hong Kong SAR ($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 (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Castor Mounting Imports

Imports into Japan

In 2022, the amount of castors with mountings of base metal imported into Japan reduced to X tons, waning by -3.3% on the previous year's figure. The total import volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 6.4%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal castor mounting imports stood at $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 12%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of metal castor mounting imports to Japan, with a combined 89% share of total imports. Germany, Thailand, Vietnam and South Korea lagged somewhat behind, together accounting for a further 9.8%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Germany ($X) appeared to be the largest metal castor mounting suppliers to Japan, with a combined 81% share of total imports.

Germany, with a CAGR of +29.3%, recorded the highest growth rate of the value of imports, among the main suppliers 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 metal castor mounting import price amounted to $X per ton, increasing by 4.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 5.9% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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