According to the research of IHS, Japanese chemical manufacturers focus on innovative chemistry. Japanese goods are always linked in our mind with high technologies, but it was produced together with common chemical products. In future share of the latter in Japanes production will be reduced.
IHS conclude the above on the basis of strategies and plans of the biggest chemical companies: Asahi Kasei, Mitsubishi Chemical, Sumitomo Chemical, Mitsui Chemical, Teijin and others.
In Japan growth of economy is expected at +0.7% GDP in the next 3 years, while industrial restoration will start in 2018. Necessity of changing approach to production and its structure was caused by market trends – somewhere demand is reducing, somewhere Chinese companies launched alternative production, somewhere Americans did it. Japanese makers are forced to turn off traditional commodities (PE, olefins…) and to joint for creation of high-technology products, investing to R&D.
Sources: IHS , Evonik.