Japan: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Japan

The Japanese urea and thiourea resins market fell modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption showed a noticeable reduction. Urea and thiourea resins consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Japan

In value terms, urea and thiourea resins production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 16%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Japan

In 2022, shipments abroad of urea resins and thiourea resins in primary forms increased by 15% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, showed a mild slump. The pace of growth appeared the most rapid in 2017 with an increase of 24%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, urea and thiourea resins exports soared to $X in 2022. Overall, exports, however, saw a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for urea and thiourea resins exports from Japan, accounting for a 71% share of total exports. Moreover, urea and thiourea resins exports to China exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Indonesia (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+82.2% per year) and Indonesia (-9.9% per year).

In value terms, China ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Japan, comprising 60% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports. It was followed by Indonesia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+42.5% per year) and Indonesia (-7.9% per year).

Export Prices by Country

The average urea and thiourea resins export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2018 when the average export price increased by 16% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Japan

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were imported into Japan; with a decrease of -11.7% compared with the previous year's figure. In general, imports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2016 when imports increased by 14% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, urea and thiourea resins imports amounted to $X in 2022. Over the period under review, imports continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2016 when imports increased by 19%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest urea and thiourea resins supplier to Japan, accounting for a 46% share of total imports. Moreover, urea and thiourea resins imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+14.2% per year) and Germany (-2.1% per year).

In value terms, the largest urea and thiourea resins suppliers to Japan were Germany ($X), China ($X) and Spain ($X), with a combined 76% share of total imports. Malaysia, Thailand, South Korea, Saudi Arabia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 19%.

Malaysia, with a CAGR of +32.6%, 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 2022, the average urea and thiourea resins import price amounted to $X per ton, surging by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 17% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+38.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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