Japan: Polyurethanes Market 2024

Polyurethanes Market Size in Japan

The Japanese polyurethanes market rose slightly to $X in 2021, with an increase of 2.6% against the previous year. Over the period under review, consumption, however, recorded a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Polyurethanes Production in Japan

In value terms, polyurethanes production reached $X in 2021 estimated in export price. In general, production, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. Polyurethanes production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Polyurethanes Exports

Exports from Japan

In 2021, overseas shipments of polyurethanes in primary forms increased by 20% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes exports soared to $X in 2021. The total export value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Malaysia (X tons) and Vietnam (X tons) were the main destinations of polyurethanes exports from Japan, together accounting for 56% of total exports. These countries were followed by the United States, Thailand, Taiwan (Chinese), Indonesia, South Korea, Hong Kong SAR, Sri Lanka, the Philippines and Germany, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +14.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for polyurethanes in primary forms exports from Japan, comprising 35% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by the United States, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+0.6% per year) and the United States (-0.7% per year).

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, increasing by 3% against the previous year. In general, the export price, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 8.6% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into Japan

In 2021, overseas purchases of polyurethanes in primary forms were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 18%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, polyurethanes imports soared to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the United States (X tons) and China (X tons) were the main suppliers of polyurethanes imports to Japan, together comprising 65% of total imports. South Korea, Taiwan (Chinese), Singapore and Belgium lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +21.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) were the largest polyurethanes suppliers to Japan, together comprising 70% of total imports. These countries were followed by South Korea, Taiwan (Chinese), Belgium and Singapore, which together accounted for a further 20%.

Among the main suppliers, Singapore, with a CAGR of +22.5%, saw the highest rates of growth with regard to 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

The average polyurethanes import price stood at $X per ton in 2021, rising by 8.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 8.3%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Belgium (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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