Japan: Ethylene Market 2024

Ethylene Market Size in Japan

The Japanese ethylene market shrank modestly to $X in 2021, waning by -4.2% against the previous year. In general, consumption recorded a abrupt descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Ethylene Production in Japan

In value terms, ethylene production shrank slightly to $X in 2021 estimated in export price. In general, production saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 5.3%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Ethylene Exports

Exports from Japan

In 2021, approx. X tons of ethylene were exported from Japan; waning by -4.4% compared with the year before. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 47%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, ethylene exports surged to $X in 2021. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 55%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for ethylene exports from Japan, accounting for a 75% share of total exports. Moreover, ethylene exports to China exceeded the volume sent to the second major destination, South Korea (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-2.5% per year) and Taiwan (Chinese) (-4.8% per year).

In value terms, China ($X) remains the key foreign market for ethylene exports from Japan, comprising 75% of total exports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-4.0% per year) and Taiwan (Chinese) (-6.8% per year).

Export Prices by Country

In 2021, the average ethylene export price amounted to $X per ton, increasing by 41% against the previous year. In general, the export price, however, saw a pronounced curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 South Korea (-1.5%), while the prices for the other major destinations experienced a decline.

Ethylene Imports

Imports into Japan

Ethylene imports into Japan reduced to X tons in 2021, declining by -10.4% against the previous year. Overall, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 1,942%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, ethylene imports rose sharply to $X in 2021. Over the period under review, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 1,623%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of ethylene to Japan, with a 67% share of total imports. Moreover, ethylene imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+43.1% per year) and Taiwan (Chinese) (+15.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of ethylene to Japan, comprising 66% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+11.3% per year) and China (+37.7% per year).

Import Prices by Country

The average ethylene import price stood at $X per ton in 2021, with an increase of 26% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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