Japan: Paint And Varnish Market 2025

Paint And Varnish Market Size in Japan

The Japanese paint and varnish market was estimated at $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, continues to indicate a mild curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Paint And Varnish Production in Japan

In value terms, paint and varnish production totaled $X in 2022 estimated in export price. Overall, production showed a mild shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 26%. Paint and varnish production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Paint And Varnish Exports

Exports from Japan

In 2022, the amount of paints and varnishes exported from Japan shrank to X tons, falling by -8.3% against the year before. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 13% against the previous year. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, paint and varnish exports contracted to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 12% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for paint and varnish exports from Japan, with a 34% share of total exports. Moreover, paint and varnish exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. South Korea (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.1% per year) and South Korea (+0.2% per year).

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the largest markets for paint and varnish exported from Japan worldwide, with a combined 69% share of total exports. The United States, Thailand, Hong Kong SAR, Vietnam, Malaysia, the Philippines, Indonesia, Mexico and India lagged somewhat behind, together accounting for a further 24%.

Mexico, with a CAGR of +10.5%, saw the highest growth rate of the value of exports, among 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 2022, the average paint and varnish export price amounted to $X per ton, falling by -4.7% against the previous year. In general, the export price continues to indicate a slight reduction. The pace of growth was the most pronounced in 2017 an increase of 9.8% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 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 (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Paint And Varnish Imports

Imports into Japan

In 2022, the amount of paints and varnishes imported into Japan dropped to X tons, with a decrease of -11.3% compared with 2021 figures. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of paint and varnish imports to Japan, together accounting for 51% of total imports. Germany, Taiwan (Chinese), Belgium, Vietnam, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +6.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes to Japan, comprising 33% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.6% per year) and China (+1.4% per year).

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, rising by 14% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paint and varnish import price increased by +61.0% against 2014 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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