Japan: Silicone Market 2024

Silicone Market Size in Japan

The Japanese silicone market stood at $X in 2021, stabilizing at the previous year. Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Silicone Production in Japan

In value terms, silicone production rose to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 21%. Over the period under review, production attained the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Silicone Exports

Exports from Japan

In 2021, shipments abroad of silicones (in primary forms) increased by 12% 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 +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 15%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, silicone exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations 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) was the main destination for silicone exports from Japan, accounting for a 34% share of total exports. Moreover, silicone exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.8% per year) and the Netherlands (+12.4% per year).

In value terms, China ($X), the United States ($X) and South Korea ($X) appeared to be the largest markets for silicone exported from Japan worldwide, with a combined 51% share of total exports. These countries were followed by the Netherlands, Taiwan (Chinese), Thailand, Vietnam, Malaysia, Hong Kong SAR, the Philippines, India and Indonesia, which together accounted for a further 38%.

Among the main countries of destination, the Netherlands, with a CAGR of +5.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, surging by 10% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 India (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Japan

In 2021, purchases abroad of silicones (in primary forms) increased by 30% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, silicone imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of silicone imports to Japan, together accounting for 75% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +20.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to Japan were the United States ($X), Germany ($X) and China ($X), with a combined 76% share of total imports.

In terms of the main suppliers, China, with a CAGR of +14.8%, recorded 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 silicone import price stood at $X per ton in 2021, growing by 6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the UK ($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 (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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