Japan: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Japan

For the third consecutive year, the Japanese market for iron or steel wire products recorded growth in sales value, which increased by X% to $X in 2022. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Iron or steel wire product consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Iron or Steel Wire Products

Exports from Japan

In 2022, overseas shipments of iron or steel wire products decreased by X% to X tons, falling for the third year in a row after eight years of growth. Overall, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel wire product exports shrank significantly to $X in 2022. Over the period under review, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% 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 remained at a lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of iron or steel wire product exports from Japan, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for iron or steel wire products exports from Japan, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Indonesia ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Japan

In 2022, overseas purchases of iron or steel wire products increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, iron or steel wire product imports stood at $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) was the main iron or steel wire product supplier to Japan, with a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to Japan, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then fell slightly in the following year.

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

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

Source: IndexBox Platform

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