Waxes; Artificial, Prepared Price in Japan - 2023

Waxes; Artificial, Prepared Price in Japan (CIF) - 2023

The average waxes; artificial, prepared import price stood at $3,564 per ton in July 2023, approximately reflecting the previous month. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in August 2022 when the average import price increased by 21% month-to-month. The import price peaked at $4,587 per ton in November 2022; however, from December 2022 to July 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($7,305 per ton), while the price for Thailand ($2,031 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Waxes; Artificial, Prepared Price in Japan (FOB) - 2023

In July 2023, the average waxes; artificial, prepared export price amounted to $5,208 per ton, picking up by 12% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.9%. The most prominent rate of growth was recorded in December 2022 an increase of 21% m-o-m. As a result, the export price reached the peak level of $5,377 per ton. From January 2023 to July 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($7,858 per ton), while the average price for exports to Vietnam ($1,314 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Waxes; Artificial, Prepared Imports in Japan

In 2022, the amount of waxes; artificial, prepared imported into Japan rose markedly to 33K tons, increasing by 8.8% on the previous year's figure. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, waxes; artificial, prepared imports soared to $133M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 32%. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Waxes; Artificial, Prepared in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	25.3	25.2	34.9	37.2	13.7%
Germany	18.9	16.3	22.9	35.4	23.3%
United States	21.1	17.0	20.1	28.0	9.9%
Malaysia	8.4	7.0	11.1	10.8	8.7%
South Korea	1.9	1.3	1.6	5.3	40.8%
Thailand	2.1	2.0	2.1	2.8	10.1%
Taiwan (Chinese)	2.5	2.0	2.5	2.6	1.3%
Others	9.5	6.8	7.5	10.6	3.7%
Total	89.6	77.8	103	133	14.1%

Top Suppliers of Waxes; Artificial, Prepared to Japan in 2022:

China (12.1K tons)
Germany (7.2K tons)
United States (4.7K tons)
Malaysia (3.8K tons)
South Korea (1.3K tons)
Thailand (1.2K tons)
Taiwan (Chinese) (0.7K tons)

Waxes; Artificial, Prepared Exports in Japan

In 2022, approx. 12K tons of waxes; artificial, prepared were exported from Japan; falling by -13% against the previous year's figure. Overall, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, the exports attained the peak of 14K tons, and then declined in the following year.

In value terms, waxes; artificial, prepared exports shrank to $52M in 2022. The total export value increased at an average annual rate of +1.6% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 25%. As a result, the exports reached the peak of $57M, and then contracted in the following year.

Export of Waxes; Artificial, Prepared in Japan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	8.7	9.5	12.5	13.1	14.6%
United States	13.2	10.4	12.5	11.8	-3.7%
South Korea	7.0	6.8	7.7	6.3	-3.5%
Thailand	3.2	3.4	6.3	5.8	21.9%
Taiwan (Chinese)	2.8	3.1	4.1	3.4	6.7%
Indonesia	2.6	1.3	2.1	1.5	-16.8%
Singapore	1.3	1.3	1.6	1.2	-2.6%
United Arab Emirates	N/A	0.1	0.3	1.0	216.2%
Vietnam	0.5	0.9	1.0	0.9	21.6%
India	1.2	0.8	0.6	0.8	-12.6%
Turkey	0.5	0.7	0.8	0.7	11.9%
Belgium	2.0	1.6	0.7	0.5	-37.0%
Hong Kong SAR	0.8	0.7	0.8	0.1	-50.0%
Others	5.4	4.7	5.8	4.7	-4.5%
Total	49.3	45.4	56.8	51.6	1.5%