Japan: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Japan

The Japanese steel stranded wire market shrank to $X in 2022, waning by X% against the previous year. Overall, consumption recorded a perceptible shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Production in Japan

In value terms, steel stranded wire production reduced to $X in 2022 estimated in export price. Overall, production saw a noticeable slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Steel stranded wire production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Steel Stranded Wire Exports

Exports from Japan

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported from Japan; reducing by X% on 2021 figures. Overall, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel stranded wire exports shrank to $X in 2022. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main destinations of steel stranded wire exports from Japan, together comprising X% of total exports. China, Hong Kong SAR, the Philippines, Vietnam, Singapore, Australia and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Taiwan (Chinese) ($X), China ($X) and Thailand ($X) constituted the largest markets for steel stranded wire exported from Japan worldwide, together comprising X% of total exports. The United States, Hong Kong SAR, Vietnam, the Philippines, Singapore, South Korea and Australia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, leveling off at the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Philippines ($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 South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Stranded Wire Imports

Imports into Japan

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Japan was estimated at X tons, remaining stable against the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, steel stranded wire imports expanded slightly to $X in 2022. In general, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Japan, accounting for a X% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Japan, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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