Japan chemical industry will see the considerable growth of 0.3% during the forecast period. The chemical industry has significant contribution into the economic growth of the country. The economic uncertainty has been increased due to the COVID-19 pandemic. Chemical industry plays an important role in Japanese global trade. Japan relies on China for intermediate input ingredients for manufacturing end- user chemical products. The COVID-19 outbreak has imparted negative impact on the chemical industry of Japan and has led to a decrease in Japanese global trade 2020.Japan is home to various multinational companies such as ADEKA Corp., BASF Japan Ltd., Croda Japan KK, among others. The Japanese chemical industry comprises of 3.8% of plastics products, 1.1% of rubber products of Japan’s total manufacturing value output.
Browse the full report description of "Japan Chemical Market Size, Share & Trends Analysis Report by Type (Petrochemicals, Basic Inorganic, Polymers, Specialty Chemicals, Consumer Chemicals, and Others), Impact of COVID-19 on Japan Chemical Industry, and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/japan-chemical-market
The country is one of the major exporters of polymers of styrene. In 2017, the country exported more than 0.1 million tons of polymers of styrene to different countries such as China, Hong Kong, Thailand, Indonesia, the US and so on. However, the spread of the COVID-19 outbreak has severely affected the growth of the Japanese aviation industry. However, the expansion of chemical companies in Japan can be expected during the forecast period. This is due to the initiatives of the Government of Japan to drive the expansion of foreign companies in the country. For instance, in April 2020, Government of Japan announced to spend $2.2 billion stimulus package to bring companies that have production centers in China. This, in turn, offers a great opportunity to expand their manufacturing unit from China to other potential regions.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2018-2025 |
|
Base year |
2018 |
|
Forecast period |
2019-2025 |
|
Segments Covered |
By Type |
|
Key Companies Profiled |
Kaneka Corp., Mitsubishi
Chemical Corp., Sekisui Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., and Kao
Corp. |
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected segment
o Recommendations
Japan Chemical Market – Segmentation
By Type
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