Japan: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Japan

The Japanese m-xylene and xylenes market soared to $X in 2022, with an increase of 633% against the previous year. Over the period under review, consumption posted a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

M-Xylene And Xylenes Production in Japan

In value terms, m-xylene and xylenes production dropped significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 50%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

M-Xylene And Xylenes Exports

Exports from Japan

In 2022, the amount of m-xylene and mixed xylene isomers exported from Japan declined to X tons, shrinking by -12.1% compared with 2021 figures. Over the period under review, exports faced a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 62% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes exports soared to $X in 2022. Overall, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 62%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for m-xylene and xylenes exports from Japan, with a 79% share of total exports. Moreover, m-xylene and xylenes exports to China exceeded the volume sent to the second major destination, South Korea (X tons), eightfold. India (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-32.1% per year) and India (+8.0% per year).

In value terms, China ($X) remains the key foreign market for m-xylene and mixed xylene isomers exports from Japan, comprising 75% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by India, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-30.8% per year) and India (+8.2% per year).

Export Prices by Country

In 2022, the average m-xylene and xylenes export price amounted to $X per ton, rising by 42% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 48%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Thailand ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

M-Xylene And Xylenes Imports

Imports into Japan

M-xylene and xylenes imports into Japan was estimated at X tons in 2022, growing by 3.7% against 2021 figures. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 852%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, m-xylene and xylenes imports soared to $X in 2022. In general, imports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of 207%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X tons) was the main m-xylene and xylenes supplier to Japan, with a 96% share of total imports. Moreover, m-xylene and xylenes imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to -16.7%.

In value terms, the UK ($X) and the United States ($X) appeared to be the largest m-xylene and xylenes suppliers to Japan.

The United States, with a CAGR of +7.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

The average m-xylene and xylenes import price stood at $X per ton in 2022, surging by 32% against the previous year. Overall, the import price, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2014 an increase of 469% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+36.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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