PET has been the largest segment of Japan engineering plastic market that has subjugated the overall market. Over the years 2008-2013, PET engineering plastic revenues share in the overall market has remained largely stable. The engineering plastic industry in Japan has been primarily dominated by the PET engineering plastics resins, which has commanded a massive share of ~% in the overall revenues of the engineering plastic industry during 2013.
During 1991, the demand for overall plastics was about ~ million metric tonnes, while the demand for Polyamide, Polyacetal and other engineering plastics was quite low. The average annual growth of these products was less than ~% owing to the persistence of recession at the global level. However, during 2013, these segments have evolved at a considerable growth rate and the key factors for this growth were largely high growth rates of end-use application such as automotive, electrical and electronics industries, consumer appliances. Despite of the slowdown in the domestic economic growth, engineering plastic market in Japan is envisaged to grow in the review period.
This growth is expected to be emanated primarily from the overseas markets. Amongst the overall engineering plastic products, PET engineering plastic resin has been anticipated to record the highest growth rate in the coming years, owing to its primary applications in the packaging industry. The segment is expected to enhance at a CAGR of 2.5% during 2013-2018.
This growth is expected to be emanated primarily from the overseas markets. Amongst the overall engineering plastic products, PET engineering plastic resin has been anticipated to record the highest growth rate in the coming years, owing to its primary applications in the packaging industry. The segment is expected to enhance at a CAGR of 2.5% during 2013-2018.
According to an Industry veteran, “Japanese companies are leading industries in sectors such as automotive and electronics. Japan domestic market for engineering plastics resin may not grow rapidly in the near term but the market for Japanese companies are big and will continue to lead the global growth in the years to come”.
According to the research report “Japan Engineering Plastics Industry Outlook to 2018” by Ken Research, the Japan engineering plastics industry is envisaged to grow at a CAGR of 1.7% and will reach USD ~ million by 2018 due to the significant surge in production capacity by major players supplemented with enhancement in the capacity utilization rate. This growth is estimated to be fueled with substantial surge in demand from end user industries primarily from automotives and consumer appliances sectors.
The report titled “Japan Engineering Plastics Market Outlook to 2018- Led by buoyant demand from Automotive and Electronics sector” provides detailed overview on the Engineering Plastics Market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in the coming years. The report will help industry consultants, automotive manufacturers and electrical and electronics manufacturers, plastics manufacturers, chemical manufacturers, and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.