Japan: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Japan

The Japanese market for isoprene rubber (IR) in primary forms fell significantly to $X in 2021, waning by -15.9% against the previous year. In general, consumption, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 5.6%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Isoprene Rubber (IR) in Primary Forms in Japan

In value terms, production of isoprene rubber (IR) in primary forms totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of 3.4%. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Japan

Exports of isoprene rubber (IR) in primary forms from Japan expanded modestly to X tons in 2021, increasing by 3.5% on the previous year. The total export volume increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 20% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. The total export value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons), Malaysia (X tons) and China (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from Japan, together accounting for 66% of total exports. These countries were followed by Vietnam, the United States, Taiwan (Chinese), Sri Lanka and Indonesia, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +63.2%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and China ($X) were the largest markets for isoprene rubber (IR) in primary form exported from Japan worldwide, with a combined 70% share of total exports. Vietnam, the United States, Sri Lanka, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +60.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, surging by 26% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Malaysia (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Japan

In 2021, approx. X tons of isoprene rubber (IR) in primary forms were imported into Japan; growing by 28% on 2020 figures. In general, imports, however, saw a noticeable decrease. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms declined modestly to $X in 2021. Overall, imports, however, saw a deep downturn. The growth pace was the most rapid in 2019 with an increase of 13% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons) and the United States (X tons) were the main suppliers of imports of isoprene rubber (IR) in primary forms to Japan.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +8.2%).

In value terms, the United States ($X) constituted the largest supplier of isoprene rubber (IR) in primary forms to Japan, comprising 66% of total imports. The second position in the ranking was held by Russia ($X), with a 32% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest.

Import Prices by Country

The average import price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, with a decrease of -24.3% against the previous year. Overall, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 23%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-8.1%).

Source: IndexBox Platform