Japan: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Japan

For the third consecutive year, the Japanese flat-rolled steel products market recorded growth in sales value, which increased by X% to $X in 2023. Overall, the total consumption indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2016 indices. Over the period under review, the market attained the maximum level in 2023 and is likely to see steady growth in the immediate term.

Flat-Rolled Steel Products Production in Japan

In value terms, flat-rolled steel products production reached $X in 2023 estimated in export price. In general, production, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Flat-rolled steel products production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from Japan

In 2023, the amount of flat-rolled products of iron or non-alloy steel exported from Japan dropped to X tons, declining by X% against 2022 figures. Overall, exports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel products exports declined sharply to $X in 2023. Over the period under review, exports recorded a perceptible curtailment. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons), Mexico (X tons) and Saudi Arabia (X tons) were the main destinations of flat-rolled steel products exports from Japan, with a combined X% share of total exports. Peru, South Africa, Australia, Taiwan (Chinese), Brazil, India, the United Arab Emirates, Malaysia, Indonesia and New Zealand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat-rolled steel products exported from Japan were the Philippines ($X), Mexico ($X) and Peru ($X), together comprising X% of total exports. Saudi Arabia, South Africa, Australia, Brazil, Taiwan (Chinese), the United Arab Emirates, Malaysia, New Zealand, Indonesia and India lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Brazil, with a CAGR of X%, 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

In 2023, the average flat-rolled steel products export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined significantly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Japan

In 2023, overseas purchases of flat-rolled products of iron or non-alloy steel were finally on the rise to reach X tons after five years of decline. In general, imports, however, showed a pronounced curtailment. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, flat-rolled steel products imports surged to $X in 2023. Over the period under review, imports, however, showed a pronounced contraction. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, South Korea (X tons) constituted the largest supplier of flat-rolled steel products to Japan, with a X% share of total imports. Moreover, flat-rolled steel products imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold.

From 2012 to 2023, the average annual rate of growth in terms of volume from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and China (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Japan, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average flat-rolled steel products import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a mild decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform