Japan: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Japan

The Japanese non-aqueous paint and varnish market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, saw a mild descent. Non-aqueous paint and varnish consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Japan

In value terms, non-aqueous paint and varnish production reached $X in 2022 estimated in export price. Overall, production continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 32% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Japan

In 2022, after two years of growth, there was significant decline in shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume decreased by -16.8% to X tons. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, non-aqueous paint and varnish exports declined to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 14%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

China (X tons) was the main destination for non-aqueous paint and varnish exports from Japan, with a 36% share of total exports. Moreover, non-aqueous paint and varnish exports to China exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+0.2% per year) and Taiwan (Chinese) (+0.0% per year).

In value terms, the largest markets for non-aqueous paint and varnish exported from Japan were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together accounting for 72% of total exports.

In terms of the main countries of destination, China, with a CAGR of +4.7%, recorded the highest rates of growth with regard to 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

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, increasing by 4% against the previous year. In general, the export price, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 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 Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($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 the United States (+1.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Japan

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported into Japan; which is down by -6.7% against the previous year. Overall, imports showed a mild slump. The pace of growth appeared the most rapid in 2014 with an increase of 15% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 22%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of non-aqueous paint and varnish imports to Japan, together accounting for 50% of total imports. The United States, Germany, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +5.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Japan, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by South Korea, with a 9% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and South Korea (-0.3% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, growing by 6.6% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish import price increased by +76.7% against 2014 indices. The pace of growth appeared the most rapid in 2018 an increase of 13%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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