Japan: Mineral Wool Market 2024

Mineral Wool Market Size in Japan

The Japanese mineral wool market reached $X in 2021, with an increase of 7% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.8% against 2019 indices. 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.

Mineral Wool Production in Japan

In value terms, mineral wool production rose notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.5% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 19% against the previous year. Mineral wool production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Mineral Wool Exports

Exports from Japan

In 2021, mineral wool exports from Japan skyrocketed to X tons, increasing by 44% on the previous year's figure. Overall, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool exports soared to $X in 2021. In general, exports showed a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by 47% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons), South Korea (X tons) and Germany (X tons) were the main destinations of mineral wool exports from Japan, together comprising 54% of total exports. These countries were followed by the Netherlands, Hungary, the United States, the Philippines and Indonesia, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +39.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and South Korea ($X) appeared to be the largest markets for mineral wool exported from Japan worldwide, with a combined 66% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +32.2%, saw the highest rates of growth with regard to 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 mineral wool export price stood at $X per ton in 2021, falling by -14.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 12%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Philippines ($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 the Netherlands (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Japan

In 2021, supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -8.4% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 22% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +2.6% 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 2015 when imports increased by 20% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Indonesia (X tons) and South Korea (X tons) were the main suppliers of mineral wool imports to Japan, together comprising 56% of total imports. These countries were followed by the UK, Taiwan (Chinese), Malaysia, India, the Netherlands, Denmark and Poland, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +175.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and Indonesia ($X) were the largest mineral wool suppliers to Japan, together accounting for 57% of total imports. These countries were followed by Taiwan (Chinese), South Korea, Malaysia, India, the Netherlands, Poland and Denmark, which together accounted for a further 38%.

Among the main suppliers, India, with a CAGR of +117.2%, recorded the highest growth rate of 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 mineral wool import price amounted to $X per ton, jumping by 18% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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