Japan: Nitrites Market 2024

Nitrites Market Size in Japan

In 2021, the Japanese nitrites market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Nitrites Exports

Exports from Japan

In 2021, overseas shipments of nitrites increased by 96% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 174% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrites exports surged to $X in 2021. In general, exports saw a prominent expansion. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for nitrites exports from Japan, accounting for a 68% share of total exports. Moreover, nitrites exports to South Korea exceeded the volume sent to the second major destination, Thailand (X tons), fourfold. Indonesia (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+34.6% per year) and Indonesia (+13.7% per year).

In value terms, the Philippines ($X), South Korea ($X) and Thailand ($X) constituted the largest markets for nitrites exported from Japan worldwide, with a combined 75% share of total exports.

Thailand, with a CAGR of +39.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nitrites export price amounted to $X per ton, picking up by 23% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 127%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average 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 the Philippines ($X per ton), while the average price for exports to South Korea ($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 Singapore (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites Imports

Imports into Japan

In 2021, supplies from abroad of nitrites increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 54%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitrites imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 67% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Germany (X tons) were the main suppliers of nitrites imports to Japan.

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 +13.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest nitrites suppliers to Japan were China ($X), India ($X) and Germany ($X).

In terms of the main suppliers, India, with a CAGR of +13.4%, 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

In 2021, the average nitrites import price amounted to $X per ton, rising by 16% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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