Japan: Salicylic Acid Market 2024

Salicylic Acid Market Size in Japan

In 2021, the Japanese salicylic acid market decreased by -27.1% to $X, falling for the second consecutive year after four years of growth. In general, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -44.9% against 2019 indices. Salicylic acid consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Salicylic Acid Exports

Exports from Japan

Salicylic acid exports from Japan skyrocketed to X tons in 2021, growing by 102% against the previous year's figure. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2015 when exports increased by 594%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, salicylic acid exports surged to $X in 2021. Overall, exports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 120% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for salicylic acid exports from Japan, with a 58% share of total exports. Moreover, salicylic acid exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. The third position in this ranking was held by the Philippines (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-5.6% per year) and the Philippines (+37.0% per year).

In value terms, South Korea ($X), China ($X) and the Philippines ($X) constituted the largest markets for salicylic acid exported from Japan worldwide, with a combined 73% share of total exports.

South Korea, with a CAGR of +38.8%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average salicylic acid export price stood at $X per ton in 2021, which is down by -31.4% against the previous year. In general, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by 190% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Salicylic Acid Imports

Imports into Japan

In 2021, approx. X tons of salicylic acid and its salts were imported into Japan; which is down by -26.1% on the year before. Over the period under review, imports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, salicylic acid imports fell markedly to $X in 2021. In general, imports, however, saw notable growth. The most prominent rate of growth was recorded in 2014 with an increase of 55%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

France (X tons), China (X tons) and the United States (X tons) were the main suppliers of salicylic acid imports to Japan.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +34.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest salicylic acid suppliers to Japan were France ($X), China ($X) and the United States ($X).

In terms of the main suppliers, the United States, with a CAGR of +39.2%, 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

In 2021, the average salicylic acid import price amounted to $X per ton, with an increase of 2% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid import price increased by +71.8% against 2017 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 33% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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