Japan: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Japan

The Japanese coniferous roundwood market contracted modestly to $X in 2022, falling by -2.1% against the previous year. Overall, consumption showed a slight shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Coniferous Roundwood Production in Japan

In value terms, coniferous roundwood production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Coniferous Roundwood Exports

Exports from Japan

Coniferous roundwood exports from Japan contracted remarkably to X cubic meters in 2022, falling by -27.2% against the year before. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 114% against the previous year. The exports peaked at X cubic meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, coniferous roundwood exports shrank notably to $X in 2022. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 106%. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced sharply in the following year.

Exports by Country

China (X cubic meters) was the main destination for coniferous roundwood exports from Japan, with a 81% share of total exports. Moreover, coniferous roundwood exports to China exceeded the volume sent to the second major destination, South Korea (X cubic meters), eightfold.

From 2012 to 2022, the average annual growth rate of volume to China stood at +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+2.1% per year) and Taiwan (Chinese) (-4.0% per year).

In value terms, China ($X) remains the key foreign market for roundwood (coniferous) exports from Japan, comprising 82% of total exports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+10.2% per year) and Taiwan (Chinese) (+3.8% per year).

Export Prices by Country

The average coniferous roundwood export price stood at $X per cubic meter in 2022, rising by 12% against the previous year. Overall, the export price posted buoyant growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 46%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to South Korea ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Coniferous Roundwood Imports

Imports into Japan

In 2022, approx. X cubic meters of roundwood (coniferous) were imported into Japan; declining by -8.5% against the previous year's figure. Overall, imports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, coniferous roundwood imports rose markedly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of coniferous roundwood to Japan, accounting for a 64% share of total imports. Moreover, coniferous roundwood imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X cubic meters), twofold. New Zealand (X cubic meters) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-6.4% per year) and New Zealand (-6.9% per year).

In value terms, the United States ($X) constituted the largest supplier of roundwood (coniferous) to Japan, comprising 67% of total imports. The second position in the ranking was held by Canada ($X), with a 28% share of total imports. It was followed by New Zealand, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-2.1% per year) and New Zealand (-7.9% per year).

Import Prices by Country

In 2022, the average coniferous roundwood import price amounted to $X per cubic meter, with an increase of 25% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coniferous roundwood import price increased by +41.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 35% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per cubic meter), while the price for New Zealand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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