Japan: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Japan

The Japanese tyre cord fabric market skyrocketed to $X in 2021, picking up by 38% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tyre Cord Fabric Production in Japan

In value terms, tyre cord fabric production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decrease. The growth pace was the most rapid in 2019 when the production volume increased by 2.1%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tyre Cord Fabric Exports

Exports from Japan

Tyre cord fabric exports from Japan totaled X tons in 2021, approximately reflecting the previous year's figure. Overall, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 4.6%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, tyre cord fabric exports soared to $X in 2021. In general, exports, however, saw a abrupt curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for tyre cord fabric exports from Japan, with a 30% share of total exports. Moreover, tyre cord fabric exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Thailand (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+8.2% per year) and Thailand (-15.5% per year).

In value terms, the largest markets for tyre cord fabric exported from Japan were China ($X), Germany ($X) and Thailand ($X), together accounting for 59% of total exports. Vietnam, the United States, Indonesia, India, South Korea, Taiwan (Chinese), Bangladesh and the Philippines lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Vietnam, with a CAGR of +8.6%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average tyre cord fabric export price amounted to $X per ton, growing by 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Bangladesh ($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) (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Cord Fabric Imports

Imports into Japan

Tyre cord fabric imports into Japan surged to X tons in 2021, jumping by 20% against the previous year. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.6% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 38% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, tyre cord fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of tyre cord fabric to Japan, accounting for a 53% share of total imports. Moreover, tyre cord fabric imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+109.9% per year) and Indonesia (+5.1% per year).

In value terms, the largest tyre cord fabric suppliers to Japan were China ($X), Vietnam ($X) and Indonesia ($X), together comprising 84% of total imports.

Vietnam, with a CAGR of +110.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 tyre cord fabric import price amounted to $X per ton, increasing by 21% against the previous year. In general, the import price, however, showed a noticeable contraction. Over the period under review, average import prices hit record highs 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 Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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