Japan: Zinc Market 2024

Zinc Market Size in Japan

In 2021, the Japanese zinc market increased by 327% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption enjoyed a prominent increase. Zinc consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Zinc Production in Japan

In value terms, zinc production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 25% against the previous year. Zinc production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports from Japan

After three years of growth, shipments abroad of zinc decreased by -14.8% to X tons in 2021. Over the period under review, exports showed a slight curtailment. The pace of growth was the most pronounced in 2020 with an increase of 53% against the previous year. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, zinc exports expanded rapidly to $X in 2021. In general, total exports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +44.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

India (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of zinc exports from Japan, with a combined 52% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +57.5%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Indonesia ($X) and Vietnam ($X) were the largest markets for zinc exported from Japan worldwide, with a combined 51% share of total exports.

In terms of the main countries of destination, India, with a CAGR of +65.5%, recorded 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 zinc export price stood at $X per ton in 2021, surging by 27% against the previous year. In general, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Thailand ($X per ton), while the average price for exports to Malaysia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Japan

For the fourth year in a row, Japan recorded decline in purchases abroad of zinc, which decreased by -4.7% to X tons in 2021. Over the period under review, imports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 25% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, zinc imports soared to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 -29.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 83% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Peru (X tons) constituted the largest zinc supplier to Japan, accounting for a 55% share of total imports. Moreover, zinc imports from Peru exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Peru stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+39.1% per year) and Mexico (+0.6% per year).

In value terms, Peru ($X) constituted the largest supplier of zinc to Japan, comprising 55% of total imports. The second position in the ranking was taken by India ($X), with a 20% share of total imports. It was followed by Mexico, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Peru amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+45.1% per year) and Mexico (+5.3% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, jumping by 31% against the previous year. Overall, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average import price increased by 46% against the previous year. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Australia ($X per ton) and India ($X per ton), while the price for Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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