Japan: Metal Chain Market 2024

Metal Chain Market Size in Japan

In 2022, the Japanese metal chain market decreased by -0.6% to $X for the first time since 2014, thus ending a seven-year rising trend. In general, consumption, however, posted a buoyant increase. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Metal Chain Production in Japan

In value terms, metal chain production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 40%. Metal chain production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Chain Exports

Exports from Japan

In 2022, the amount of iron or steel chain exported from Japan declined notably to X tons, waning by -22.7% compared with the previous year. Over the period under review, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports dropped sharply to $X in 2022. Overall, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2021 when exports increased by 53%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), China (X tons) and Saudi Arabia (X tons) were the main destinations of metal chain exports from Japan, with a combined 67% share of total exports. Thailand, Vietnam, South Korea, Taiwan (Chinese), Canada, India, the Philippines, Germany, Indonesia and South Africa lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +20.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for iron or steel chain exports from Japan, comprising 47% of total exports. The second position in the ranking was taken by China ($X), with an 18% share of total exports. It was followed by Thailand, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.7% per year) and Thailand (-4.0% per year).

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price, however, posted a resilient increase. The growth pace was the most rapid in 2014 an increase of 30%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 South Africa ($X per ton), while the average price for exports to Saudi Arabia ($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 South Africa (+41.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Japan

In 2022, metal chain imports into Japan dropped remarkably to X tons, with a decrease of -22% on the year before. In general, imports, however, continue to indicate measured growth. The growth pace was the most rapid in 2018 when imports increased by 207%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, metal chain imports skyrocketed to $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 566% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) was the main metal chain supplier to Japan, with a 92% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+220.8% per year) and South Korea (-18.7% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Japan, comprising 92% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 4.6% share of total imports. It was followed by South Korea, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+165.5% per year) and South Korea (-8.9% per year).

Import Prices by Country

The average metal chain import price stood at $X per ton in 2022, rising by 74% against the previous year. Overall, the import price posted perceptible growth. The most prominent rate of growth was recorded in 2018 an increase of 117%. The import price peaked in 2022 and is likely to see steady 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 Vietnam ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :