Japan: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Japan

The Japanese phenylacetic acid market shrank to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a mild reduction. Phenylacetic acid consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Phenylacetic Acid Production in Japan

In value terms, phenylacetic acid production reduced remarkably to $X in 2022 estimated in export price. In general, production saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from Japan

For the third consecutive year, Japan recorded decline in overseas shipments of phenylacetic acid, its salts and esters, which decreased by X% to X tons in 2022. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, phenylacetic acid exports reduced to $X in 2022. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for phenylacetic acid exports from Japan, accounting for a X% share of total exports. Moreover, phenylacetic acid exports to China exceeded the volume sent to the second major destination, South Korea (X tons), threefold. Switzerland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Switzerland (X% per year).

In value terms, China ($X), South Korea ($X) and the United States ($X) constituted the largest markets for phenylacetic acid exported from Japan worldwide, together accounting for X% of total exports. Switzerland, Thailand, the United Arab Emirates, Taiwan (Chinese), Italy, Brazil and India lagged somewhat behind, together accounting for a further X%.

Switzerland, with a CAGR of X%, 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 2022, the average phenylacetic acid export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to India ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Japan

In 2022, overseas purchases of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports rose slightly to $X in 2022. Overall, imports, however, saw a mild slump. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest phenylacetic acid supplier to Japan, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Japan, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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