Roundwood coniferous market in Japan

Earlier Report Observations

The coniferous roundwood market in Japan experienced significant volatility between 2018 and 2023. The initial shock came in 2020 when the COVID-19 pandemic halted most infrastructure projects and drastically reduced demand for wood decking, causing the market volume to fall by 11.4% to 20.1 million m³.

A sharp recovery followed in 2021, with market volume rising 12.3% to 22.6 million m³. This surge was driven by ongoing global timber market disruptions, which pushed import wood prices higher and increased demand for domestic roundwood. Speculative purchasing and inventory buildup further amplified the growth. By 2022, the market stabilized, edging up only 0.8% to 22.8 million m³, as the lingering 'wood shock' led to piled-up import inventories at ports and cooled new log demand.

The market contracted by 8.9% to 20.8 million m³ in 2023. Timber prices had declined from their 2022 peak but remained elevated compared to pre-shock levels. In the capital region, weak product sales created an inventory overhang despite limited supply, contributing to the drop in volume.

Production coniferous roundwood in Japan

In kind, 2018-2021, K m³

From 2018 to 2021, Japan ranked 14th globally in the production of roundwood coniferous.

Top producers of coniferous roundwood, 2018-2021

World map of production of coniferous roundwood, 2018-2021

In 2021, Japan produced 21 485 K m³ of roundwood coniferous, marking an 11.0% increase from the previous year. Over the period from 2018 to 2021, production grew by 4.2%, which translates to an annualized rate of 1.4%. The lowest production level was recorded in 2020 at 19 349 K m³, with the largest decline of 8.0% also occurring that year.

Annual dynamics of production in Japan in kind, 2018-2021, K m³

In value, 2018-2021, M $ US

In 2021, the output of roundwood coniferous in Japan was valued at 2 811 M $ US, reflecting a 33.7% rise from 2020. Between 2018 and 2021, production increased by 17.9%, corresponding to a compound annual growth rate (CAGR) of 5.6%. The minimum value was observed in 2020 at 2 102 M $ US, when the largest decline of 12.7% took place.

Annual dynamics of production in Japan in value, 2018-2021, M $ US

Exports coniferous roundwood from Japan

Exports in kind, K m³

Exports of roundwood coniferous from Japan have increased for the second year in a row. In 2021, exports reached 1 455 K m³, showing a moderate 5.6% growth compared to the previous year. From 2018 to 2021, exports rose by 28.6%, equating to an annualized rate of 8.8%. The lowest export volume was in 2019 at 1 122 K m³, with a slight decline of 0.8% that year. The largest increase occurred in 2020, with a jump of 22.8%.

Annual dynamics of product's exports from Japan in kind, 2018-2021, K m³

Between 2018 and 2021, China consistently represented 83.4% of Japan's total exports in kind, highlighting a strong reliance on this market, while the remaining share was distributed among other countries.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Japan in kind, 2018-2021

Exports in value, M $ US

Exports of roundwood coniferous from Japan have grown for the second consecutive year. In 2021, Japan exported 190.3 M $ US worth of roundwood coniferous, indicating a sharp 27.1% increase from the year before. Over the 2018-2021 period, exports expanded by 45.5%, with a CAGR of 13.3%. The minimum value was recorded in 2019 at 128.5 M $ US, when the largest decline of 1.8% was observed.

Annual dynamics of product's exports from Japan in value, 2018-2021, M $ US

From 2018 to 2021, China dominated Japan's exports in value terms, accounting for 80.6% of total flows, with other countries making up the remainder.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Japan in value, 2018-2021

Imports coniferous roundwood to Japan

Imports in kind, K m³

After a two-year decline, imports of roundwood coniferous into Japan have rebounded. In 2021, imports amounted to 2 586 K m³, up by 18.9% year-over-year. However, over the 2018-2021 period, imports decreased by 15.7%, corresponding to a CAGR of -5.5%. The lowest import volume was in 2020 at 2 175 K m³, when the largest decline of 23.4% occurred.

Annual dynamics of product's imports to Japan in kind, 2018-2021, K m³

During 2018-2021, the United States and Canada consistently accounted for 83.9% of Japan's total imports in kind, indicating a high concentration of supply from these two markets, with a variety of smaller partners making up the rest.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Japan in kind, 2018-2021

Imports in value, M $ US

Following a two-year decrease, imports of roundwood coniferous into Japan have increased. In 2021, imports totaled 741.6 M $ US, representing a significant 46.0% rise compared to the previous year. Over the 2018-2021 span, imports fell by 8.1%, with a CAGR of -2.8%. The minimum value was recorded in 2020 at 507.9 M $ US, when the largest decline of 23.2% took place.

Annual dynamics of product's imports to Japan in value, 2018-2021, M $ US

From 2018 to 2021, the United States and Canada remained the primary sources for Japan's imports in value terms, jointly comprising 90.2% of total flows, while other partners accounted for the remaining share.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Japan in value, 2018-2021