Japan: Electric wire overseas shipments surge to record high in FY23

• Japanese copper wire shipments increase by 2% to 468,636 t in FY2023
  
  
• Strong demand for transportation wires, electric power cables drive production growth
  
  

The Japan Electric Wire Manufacturers Association recently released data on copper insulated wire shipments from Japanese wire manufacturers' overseas subsidiaries for FY 2023. The total shipments amounted to 468,636 tonnes (t), showing a 2% increase y-o-y.

Despite declines in electrical wires for equipment and communication cables, the production of transportation wires making up more than 60% of the total remained strong. Additionally, significant contributions from large volume windings and electric power wires and cables boosted overall production levels, surpassing those of the previous year.

This marked the third consecutive year of positive growth in total shipment volume, setting a new record high since the association began compiling statistics in FY 2015.

The survey compiled data from 94 corporations owned by 29 Japanese wire manufacturers regarding shipments of copper insulated wires. In fiscal year 2023, exports to Japan amounted to 61,889 t, marking a 12.1% increase y-0-y. Meanwhile, exports to third countries, which include shipments to nations where local subsidiaries operate, totaled 406,747 t, showing a slight 0.6% y-o-y rise.

Japanese wire production have ups, downs across different types:

Firstly, wire harnesses and transportation wires production increased by 2.8% to 298,423 t. Windings, crucial for electronics, went up slightly by 1.1% to 81,014 t.

However, equipment wires dropped sharply by 29.7% to 9,957 t, and telecommunication wires fell by 28% to 6,789 t.

On the positive side, electric power wires and cables rose by 11.1% to 72,031 t, while coated line production fell by 22.1% to 422 t. These changes showed how different types of wires fared in Japan's manufacturing sector last year.

The shipment value of copper insulated wires showed strong growth. The total value reached JPY 1,928,613 million, marking a significant 17.9% increase compared to the previous year. Shipments to Japan amounted to JPY 135,783 million , up by 13.7%, while other regions saw a larger increase to JPY 1,792,830 million, rising by 18.2%.

By product type, sales of electric wires and windings for transportation, as well as electric wires and cables for power, increased compared to the previous year. However, equipment wires, communication wires, cables, and coated wires declined in sales volume.

This article has been published under an agreement between BigMint and Japan Metal Daily.