Japan: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Japan

In 2022, the Japanese non-rolled bitumen products market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Rolled Bitumen Products Exports

Exports from Japan

In 2022, shipments abroad of non-rolled bitumen products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a remarkable increase. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products exports skyrocketed to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 876% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for non-rolled bitumen products exports from Japan, accounting for a 73% share of total exports. Moreover, non-rolled bitumen products exports to South Korea exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea amounted to +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+67.6% per year) and Pakistan (0.0% per year).

In value terms, China ($X), South Korea ($X) and Pakistan ($X) appeared to be the largest markets for non-rolled bitumen products exported from Japan worldwide, together comprising 91% of total exports.

China, with a CAGR of +58.9%, saw the highest growth rate of the value of exports, among 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 non-rolled bitumen products export price amounted to $X per ton, shrinking by -20% against the previous year. Overall, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by 315% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to South Korea ($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 Arab Emirates (+3.1%), while the prices for the other major destinations experienced a decline.

Non-Rolled Bitumen Products Imports

Imports into Japan

In 2022, overseas purchases of non-rolled bitumen products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 22% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-rolled bitumen products imports soared to $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Korea (X tons) constituted the largest non-rolled bitumen products supplier to Japan, accounting for a 78% share of total imports. Moreover, non-rolled bitumen products imports from South Korea exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +10.3%.

In value terms, South Korea ($X) constituted the largest supplier of non-rolled bitumen products to Japan, comprising 74% of total imports. The second position in the ranking was held by the United States ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to +10.8%.

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, increasing by 7.2% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 South Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.0%).

Source: IndexBox Platform

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