Japan: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Japan

The Japanese acrylic acid esters market soared to $X in 2022, picking up by 16% against the previous year. In general, consumption posted strong growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Acrylic Acid Esters Production in Japan

In value terms, acrylic acid esters production surged to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 119%. Acrylic acid esters production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Acrylic Acid Esters Exports

Exports from Japan

In 2022, overseas shipments of esters of acrylic acid decreased by -16.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a moderate expansion. The pace of growth appeared the most rapid in 2014 with an increase of 76% against the previous year. The exports peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, acrylic acid esters exports declined notably to $X in 2022. In general, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +21.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

South Korea (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of acrylic acid esters exports from Japan, together comprising 56% of total exports. China, Singapore, Belgium and Taiwan (Chinese) lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +17.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and China ($X) appeared to be the largest markets for acrylic acid esters exported from Japan worldwide, with a combined 60% share of total exports. Belgium, the Netherlands, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 23%.

In terms of the main countries of destination, Belgium, with a CAGR of +12.9%, 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

In 2022, the average acrylic acid esters export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, saw a pronounced slump. The growth pace was the most rapid in 2013 an increase of 36%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 (+4.8%), while the prices for the other major destinations experienced a decline.

Acrylic Acid Esters Imports

Imports into Japan

In 2022, the amount of esters of acrylic acid imported into Japan dropped to X tons, shrinking by -11.4% on 2021. Overall, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2013 with an increase of 73%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, acrylic acid esters imports dropped to $X in 2022. In general, imports showed a noticeable decline. The pace of growth was the most pronounced in 2021 when imports increased by 86%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest acrylic acid esters supplier to Japan, accounting for a 31% share of total imports. Moreover, acrylic acid esters imports from Indonesia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.3% per year) and China (-3.2% per year).

In value terms, the largest acrylic acid esters suppliers to Japan were Indonesia ($X), China ($X) and South Korea ($X), together comprising 62% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +2.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average acrylic acid esters import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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