Japan: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Japan

In 2021, the Japanese sodium phosphates market decreased by -22.3% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sodium Phosphates Exports

Exports from Japan

In 2021, the amount of phosphates of mono- or di-sodium exported from Japan expanded sharply to X tons, surging by 14% against the previous year. Overall, exports, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 31%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, sodium phosphates exports totaled $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 25%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for sodium phosphates exports from Japan, accounting for a 53% share of total exports. Moreover, sodium phosphates exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.0% per year) and Hong Kong SAR (+3.8% per year).

In value terms, the largest markets for sodium phosphates exported from Japan were South Korea ($X), the United States ($X) and Vietnam ($X), together accounting for 75% of total exports. These countries were followed by Hong Kong SAR, Indonesia, Cambodia and Taiwan (Chinese), which together accounted for a further 15%.

Hong Kong SAR, with a CAGR of +22.4%, saw the highest rates of growth with regard to 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

The average sodium phosphates export price stood at $X per ton in 2021, with a decrease of -11.8% against the previous year. Overall, the export price, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to South Korea ($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 Indonesia (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Phosphates Imports

Imports into Japan

In 2021, overseas purchases of phosphates of mono- or di-sodium decreased by -1.7% to X tons, falling for the third consecutive year after two years of growth. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 38%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, sodium phosphates imports surged to $X in 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 42%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Thailand (X tons) and Germany (X tons) were the main suppliers of sodium phosphates imports to Japan, with a combined 89% share of total imports. France and the United States lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +37.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Germany ($X) constituted the largest sodium phosphates suppliers to Japan, together comprising 84% of total imports. These countries were followed by the United States and France, which together accounted for a further 15%.

In terms of the main suppliers, France, with a CAGR of +21.6%, saw the highest growth rate of the value of imports, 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 sodium phosphates import price amounted to $X per ton, picking up by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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