Japan: Melamine Resins Market 2024

Melamine Resins Market Size in Japan

The Japanese melamine resins market contracted modestly to $X in 2021, waning by -2.5% against the previous year. Over the period under review, consumption continues to indicate a deep reduction. Melamine resins consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Melamine Resins Production in Japan

In value terms, melamine resins production dropped slightly to $X in 2021 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Melamine Resins Exports

Exports from Japan

In 2021, overseas shipments of melamine resins in primary forms increased by 38% to X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, melamine resins exports soared to $X in 2021. In general, exports, however, recorded a mild shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), India (X tons) and Thailand (X tons) were the main destinations of melamine resins exports from Japan, with a combined 61% share of total exports. South Korea, Vietnam, the United States, Indonesia, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +27.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for melamine resins in primary forms exports from Japan, comprising 33% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-1.8% per year) and India (+22.2% per year).

Export Prices by Country

In 2021, the average melamine resins export price amounted to $X per ton, falling by -3.1% against the previous year. In general, the export price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 4.3%. Over the period under review, the average export prices attained the maximum 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 export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 (-0.5%), while the prices for the other major destinations experienced a decline.

Melamine Resins Imports

Imports into Japan

In 2021, after two years of decline, there was significant growth in purchases abroad of melamine resins in primary forms, when their volume increased by 20% to X tons. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, melamine resins imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 30%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Thailand (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of melamine resins imports to Japan, together accounting for 74% of total imports. Taiwan (Chinese), China, Malaysia, India and Italy lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +50.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest melamine resins suppliers to Japan were Thailand ($X), Germany ($X) and the United States ($X), together comprising 77% of total imports. China, Taiwan (Chinese), India, Malaysia and Italy lagged somewhat behind, together accounting for a further 21%.

India, with a CAGR of +59.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 melamine resins import price amounted to $X per ton, with an increase of 8.5% against the previous year. Overall, the import price, however, saw a mild curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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