Japan: Ink Market 2024

Ink Market Size in Japan

In 2021, after three years of growth, there was significant decline in the Japanese ink market, when its value decreased by -18.4% to $X. In general, consumption recorded a deep slump. Ink consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ink Production in Japan

In value terms, ink production reduced to $X in 2021 estimated in export price. Overall, production saw a perceptible reduction. The growth pace was the most rapid in 2019 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ink Exports

Exports from Japan

Ink exports from Japan expanded markedly to X tons in 2021, surging by 12% against 2020. The total export volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 18%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, ink exports expanded notably to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 13% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ink exports from Japan, with a 41% share of total exports. Moreover, ink exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+15.9% per year) and Taiwan (Chinese) (-6.1% per year).

In value terms, China ($X) remains the key foreign market for inks (excluding printing ink) exports from Japan, comprising 45% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+16.9% per year) and Taiwan (Chinese) (-9.3% per year).

Export Prices by Country

In 2021, the average ink export price amounted to $X per ton, which is down by -2.4% against the previous year. Over the period under review, the export price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 7.4% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 France (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ink Imports

Imports into Japan

In 2021, overseas purchases of inks (excluding printing ink) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a pronounced slump. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, ink imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest ink supplier to Japan, with a 38% share of total imports. Moreover, ink imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.7% per year) and France (+1.1% per year).

In value terms, the largest ink suppliers to Japan were China ($X), the United States ($X) and South Korea ($X), together comprising 48% of total imports. These countries were followed by Germany, France, the Netherlands, the UK and Malaysia, which together accounted for a further 27%.

In terms of the main suppliers, the Netherlands, with a CAGR of +55.6%, 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 2021, the average ink import price amounted to $X per ton, with an increase of 11% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ink import price decreased by -3.7% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+26.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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