Japan: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Japan

In 2022, the Japanese polymethyl methacrylate market decreased by -5.6% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2021, and then reduced in the following year.

Polymethyl Methacrylate Production in Japan

In value terms, polymethyl methacrylate production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable curtailment. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. Polymethyl methacrylate production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Japan

In 2022, approx. X tons of polymethyl methacrylate in primary forms were exported from Japan; which is down by -1.6% on the previous year's figure. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 13% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate exports reduced to $X in 2022. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by 15%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for polymethyl methacrylate exports from Japan, with a 60% share of total exports. Moreover, polymethyl methacrylate exports to China exceeded the volume sent to the second major destination, South Korea (X tons), eightfold. Thailand (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-6.5% per year) and Thailand (+0.2% per year).

In value terms, China ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Japan, comprising 49% of total exports. The second position in the ranking was held by the United States ($X), with a 9.2% share of total exports. It was followed by South Korea, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.8% per year) and South Korea (-13.5% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, falling by -4.6% against the previous year. Over the period under review, the export price saw a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of 24%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Polymethyl Methacrylate Imports

Imports into Japan

Polymethyl methacrylate imports into Japan reduced sharply to X tons in 2022, which is down by -33.1% on the year before. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 167%. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, polymethyl methacrylate imports dropped remarkably to $X in 2022. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 112% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest polymethyl methacrylate supplier to Japan, accounting for a 70% share of total imports. Moreover, polymethyl methacrylate imports from Singapore exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +80.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.8% per year) and Malaysia (+40.8% per year).

In value terms, Singapore ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Japan, comprising 65% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by China, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +80.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.8% per year) and China (-11.0% per year).

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2022, picking up by 4.3% against the previous year. Overall, the import price, however, recorded a noticeable decline. The growth pace was the most rapid in 2017 when the average import price increased by 22%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :