Japan Chemical Market Share 2021: Trends, Key Players, Industry Analysis and Report 2021-2027
A full report of Japan Chemical Market is available at: https://www.omrglobal.com/industry-reports/japan-chemical-market
Japan chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted by the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see the least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.
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The major chemical companies in the region include Kaneka Corp., Mitsubishi Chemical Corp., Sekisui Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., and Kao Corp. The Mitsubishi Group has temporarily suspended production at the various production lines at Japan plant considering global market decline due to the global expansion of the COVID-19 pandemic. However, there is no such major impact is observed on Mitsubishi Chemical Corp. due to considerable demand for hygiene and personal care products. In February 2020, the company announced the acquisition of two Swiss engineering plastics recyclers, Minger Kunststofftechnik AG and Minger Plastic AG (collectively, the Minger Group), through its group company Mitsubishi Chemical Advanced Materials to establish an integrated business model for engineering plastics, from manufacturing to sales, machining, collection, and reuse. The acquisition is expected to be completed by the end of February this year.
Verticals Affected Most
• Basic Inorganic
• Specialty Chemicals
• Consumer Chemicals
• Others (Auxiliaries for Industry)
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• ADEKA Corp.
• Asahi Kasei Corp.
• DIC Corp.
• Kaneka Corp.
• Kanto Denka Kogyo Co., Ltd.
• Kao Corp.
• Mitsubishi Chemical Corp.
• Sekisui Chemical Co., Ltd.
• Shin-Etsu Chemical Co., Ltd.
• Sumitomo Chemical Co., Ltd.
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