Japan Specialty Chemicals Market Size & Outlook, 2023-2030
Japan specialty chemicals market, 2018-2030 (US$B)
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Japan specialty chemicals market highlights
- The Japan specialty chemicals market generated a revenue of USD 25.9 billion in 2023 and is expected to reach USD 38.8 billion by 2030.
- The Japan market is expected to grow at a CAGR of 6% from 2024 to 2030.
Specialty chemicals market data book summary
| Market revenue in 2023 | USD 25.9 billion |
| Market revenue in 2030 | USD 38.8 billion |
| Growth rate | 6% (CAGR from 2023 to 2030) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | |
| Key market players worldwide | Solvay SA, Evonik Industries AG, Clariant AG, Akzo Nobel NV, DuPont de Nemours Inc, Kemira Oyj, Lanxess AG, Croda International PLC, Huntsman Corp, The Lubrizol Corp, Albemarle Corp |
Other key industry trends
- In terms of revenue, Japan accounted for 4.0% of the global specialty chemicals market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China specialty chemicals market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 243.9 billion by 2030.
The demand for water treatment chemicals in water treatment applications has witnessed moderate growth in the aftermath of the Fukushima Daiichi nuclear accident, which occurred in March 2011, they are utilized for diverse purposes including radiation monitoring, decommissioning, waste management, and remediation for releasing the treated water into the ocean.
Pharmaceutical additives are expected to witness the significant growth over the forecast period owing to the increasing use in pharmaceutical sector. The presence of major pharmaceutical manufacturers, such as Pfizer, Novartis, GSK, and others, in the country is likely to bolster demand for pharmaceutical additives over the forecast period.
The Japanese automotive, electronics, and other manufacturing sectors remain resilient and innovative despite natural & man-made disasters that have affected the economy in recent years. The economy of Japan is stagnant with a low GDP growth rate, which has led to a decline in the production of industrial goods and consumer goods.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan specialty chemicals market size, by product type, 2018-2030 (US$B)
Japan Specialty Chemicals Market Outlook Share, 2023 & 2030 (US$B)
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