Japan: Isocyanates Market 2024

Isocyanates Market Size in Japan

The Japanese isocyanates market reduced to $X in 2022, which is down by X% against the previous year. In general, consumption recorded a abrupt contraction. Isocyanates consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Isocyanates Production in Japan

In value terms, isocyanates production contracted to $X in 2022 estimated in export price. Overall, production showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Isocyanates production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports from Japan

In 2022, shipments abroad of isocyanates decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, isocyanates exports contracted to $X in 2022. Over the period under review, exports showed a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for isocyanates exports from Japan, with a X% share of total exports. Moreover, isocyanates exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by India (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and India (X% per year).

In value terms, China ($X) remains the key foreign market for isocyanates exports from Japan, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Singapore ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Isocyanates Imports

Imports into Japan

In 2022, the amount of isocyanates imported into Japan stood at X tons, picking up by X% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, isocyanates imports expanded modestly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

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

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Germany (X% per year).

In value terms, China ($X), Germany ($X) and South Korea ($X) appeared to be the largest isocyanates suppliers to Japan, with a combined X% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average isocyanates import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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