Synthetic Resins Market Industry Trends, Size, Share, Growth, Analysis and Forecast 2028

The new report by Zion Market Research on the "Synthetic Resins Market - Japan and South Korea Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025" has vast information about the market and its potential. The Japan and South Korea synthetic resins market was valued at more than USD 50 billion in the year 2016 and it is expected to reach more than USD 67 billion by 2025. The Japan and South Korea synthetic resins market is expected to exhibit a CAGR of more than 3% between 2017 and 2025. In 2016, more than 31 million tons of synthetic resins were consumed in Japan and South Korea.

Increasing demand for sustainable (recycling) and fast-curing materials, growing demand for lightweight components to address stringent regulations, and increasing penetration of composite materials for replacing metals are major factors driving the growth of the market. Lightweight components are in huge demand in various end-user industries such as the manufacturing sector since regulatory taxes and duties could be prevented if the weight of finished products is kept under specified limits.

Since most of these lightweight components are manufactured with synthetic resins as raw materials, the demand for synthetic resins is expected to grow during the forecast period. Similarly, metals are increasingly getting replaced with plastics and composite materials to save cost and reduce weight. This is also expected to boost the demand for synthetic resins in Japan and South Korea.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@https://www.zionmarketresearch.com/sample/synthetic-resins-market

Our research analysts observed that there would be an anticipated rise in the demand for synthetic resins owing to increasing demand from the automotive industry for composite and lightweight materials. As the automotive industry is growing at a brisk pace coupled with the exponential growth of EVs, the demand for synthetic resins in automotive manufacturing is expected to rise in the coming years in both these countries.

𝐓𝐡𝐞 𝐉𝐚𝐩𝐚𝐧𝐞𝐬𝐞 𝐚𝐧𝐝 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐬𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐫𝐞𝐬𝐢𝐧𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐨𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐭𝐲𝐩𝐞, 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐜𝐨𝐮𝐧𝐭𝐫𝐲.

𝐉𝐚𝐩𝐚𝐧 𝐚𝐧𝐝 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐑𝐞𝐬𝐢𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Thermoplastic Resin
Thermosetting Resin

𝐉𝐚𝐩𝐚𝐧 𝐚𝐧𝐝 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐑𝐞𝐬𝐢𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Packaging
Building Supplies
Automotive
Electronics
Other Applications

𝐉𝐚𝐩𝐚𝐧 𝐚𝐧𝐝 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐑𝐞𝐬𝐢𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Japan
South Korea

In the product type segment, thermoplastic resins held the majority of the market shares. Thermoplastic resins offer numerous advantages such as high recyclability, high-impact resistance, reshaping capabilities, chemical resistance, aesthetically superior finishes, hard crystalline or rubbery surface options, and an eco-friendly manufacturing process over thermoset resins. This type of resin is widely used in construction, automotive, electronics, and other end-user industries owing to its peculiar characteristics.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.zionmarketresearch.com/report/synthetic-resins-market

Thermoplastics are processed using various methods such as injection molding, extrusion, and thermoforming, among others. Some of the common thermoplastic materials include polypropylene, PVC, polycarbonate, and nylon, among others. The demand for thermoplastic resins was more than 25 million tons and contributed to more than 80% share of Japan and South Korea synthetic resins market in 2016.

However, thermoset resins are expected to grow at the fastest rate during the forecast period since it is in a liquid state at room temperature which eases the reinforcing process and the addition of additives for various desired applications. Its property to be uncured liquid at room temperature allows for convenient impregnation of reinforcing fibers such as fiberglass, carbon fiber, and Kevlar, among others. Some of the common thermoset resins include polyester resin, vinyl ester resin, epoxy, phenolic, and urethane, among others.

On the basis of application, the packaging segment is dominating the Japan and South Korea synthetic resins market. Packaging products are mostly made from thermosetting resins such as phenolic & epoxy resins as well as from thermoplastics such as polypropylene among others. Increasing packaging requirements for consumer goods, electronics, and durables among various other goods and products have boosted the demand for synthetic resins in packaging applications. The automotive and electronics applications are expected to grow at leading rates of more than 3% respectively during the forecast period owing to the increasing adoption of synthetic resins in manufacturing processes of these end-user industries as well as the rapid growth of these industries in both these countries.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭@https://www.zionmarketresearch.com/inquiry/synthetic-resins-market

The market is progressing at a rapid pace in both countries. Currently, the major share of the synthetic resins market is contributed by Japan. Japan dominates the Japan and South Korea synthetic resins market which is followed by South Korea. The active presence and increasing number of manufacturing industries such as automotive and electronics among others are expected to drive the synthetic resins market in Japan during the forecast period. Thermoplastic resins dominate the Japan synthetic resins market. South Korea contributed more than USD 20 billion in 2016 and is expected to grow at a CAGR of more than 3% during the forecast period.

𝐓𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐉𝐚𝐩𝐚𝐧 𝐚𝐧𝐝 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐬𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐫𝐞𝐬𝐢𝐧𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞
Huntsman International LLC
MCC Chemicals, Inc.
UPC Technology Corporation
Bayer AG
DSM
Assa Abloy AB
Akolite Synthetic Resins
Sinopec Corporation
Formosa Plastics Group
Purolite
Kansai Paint Co., Ltd.
Lawter, Inc.
D.S.V Chemicals
RÜTGERS Group
The Dow Chemical Company
NAN YA PLASTICS Corporation
Momentive
KUKDO CHEMICAL. Co. Ltd.
Gellner Industrial
LLC, Synresins Ltd.
Chang Chun Group
BASF SE

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