Japan: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Japan

The Japanese polypropylene in primary forms market contracted slightly to $X in 2022, with a decrease of -2.5% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Polypropylene in Primary Forms in Japan

In value terms, polypropylene in primary forms production contracted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 80% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Polypropylene in Primary Forms

Exports from Japan

In 2022, after five years of growth, there was significant decline in shipments abroad of polypropylene in primary forms, when their volume decreased by -5.6% to X tons. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2018 when exports increased by 33% against the previous year. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, polypropylene in primary forms exports shrank to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

China (X tons) was the main destination for polypropylene in primary forms exports from Japan, with a 70% share of total exports. Moreover, polypropylene in primary forms exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+17.9% per year) and Taiwan (Chinese) (-1.5% per year).

In value terms, China ($X) remains the key foreign market for polypropylene in primary forms exports from Japan, comprising 54% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 7% share of total exports. It was followed by Thailand, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+8.2% per year) and Thailand (-6.7% per year).

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, declining by -1.5% against the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 an increase of 4.9%. The export price peaked 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 external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (-1.6%), while the prices for the other major destinations experienced a decline.

Imports of Polypropylene in Primary Forms

Imports into Japan

In 2022, overseas purchases of polypropylene in primary forms increased by 41% to X tons, rising for the second year in a row after two years of decline. Overall, imports enjoyed measured growth. The most prominent rate of growth was recorded in 2018 with an increase of 65%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, polypropylene in primary forms imports soared to $X in 2022. Over the period under review, imports posted a notable expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 77% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of polypropylene in primary forms to Japan, accounting for a 37% share of total imports. Moreover, polypropylene in primary forms imports from South Korea exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.0% per year) and Saudi Arabia (-1.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of polypropylene in primary forms to Japan, comprising 35% of total imports. The second position in the ranking was taken by Thailand ($X), with a 16% share of total imports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.0% per year) and Saudi Arabia (-2.7% per year).

Import Prices by Country

In 2022, the average polypropylene in primary forms import price amounted to $X per ton, remaining stable against the previous year. In general, the import price recorded a slight contraction. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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