Japan: Paint And Varnish Market 2024

Paint And Varnish Market Size in Japan

The Japanese paint and varnish market totaled $X in 2022, approximately mirroring the previous year. In general, consumption, however, recorded a mild downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Paint And Varnish Production in Japan

In value terms, paint and varnish production reached $X in 2022 estimated in export price. Overall, production showed a mild decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Paint And Varnish Exports

Exports from Japan

In 2022, approx. X tons of paints and varnishes were exported from Japan; which is down by X% compared with 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, paint and varnish exports dropped to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for paint and varnish exports from Japan, with a X% share of total exports. Moreover, paint and varnish exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

In value terms, the largest markets for paint and varnish exported from Japan were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports. The United States, Thailand, Hong Kong SAR, Vietnam, Malaysia, the Philippines, Indonesia, Mexico and India lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average paint and varnish export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a mild reduction. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Paint And Varnish Imports

Imports into Japan

In 2022, imports of paints and varnishes into Japan contracted modestly to X tons, dropping by X% against 2021 figures. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, paint and varnish imports reached $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% 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.

Imports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of paint and varnish imports to Japan, together comprising X% of total imports. Germany, Taiwan (Chinese), Belgium, Vietnam, Indonesia and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes to Japan, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The average paint and varnish import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price 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, paint and varnish import price increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform