Japanese chemical enterprises take the opportunity to accelerate the transformation

Nariman Behravesh, chief economist of

IHS chemical company, recently said that although Japan's overall economy remained weak in 2014, its chemical industry strength had significantly increased. The weakening yen and falling crude oil prices have made Japanese chemical production more cost competitive. The strong export of Japanese chemical products also offset the unfavorable factors of weak domestic demand. In this environment, Japanese chemical companies will continue to accelerate the transformation with technical or market advantages, divest the general chemicals business which lacks competitiveness, and develops advanced materials business with higher value.

and

predict that Japan's economy will rise slightly by 0.9% in 2015 and 1.4% in 2016. In the 2014 fiscal year ended March 31, 2015, the performance of Japanese chemical companies has generally improved. It is expected that sales revenue of major Japanese chemical enterprises will increase by 4%, and their profits will also increase.

and

integrate basic chemicals

and

. Japan's basic chemicals industry will continue to suffer from oversupply. It is expected that three naphtha cracking units will be closed in early 2017. According to IHS chemical, Japan's ethylene consumption in 2014 increased by 4% compared with 2013, reaching 5.2 million tons, but still 10% lower than the level before the 2008-2009 recession. JinSu Yim, Asia olefin business manager of IHS chemical, said that in 2010, Japan had 14 sets of ethylene cracking units with a total capacity of 8 million tons / year, distributed in eight production bases. However, due to the competition of newly built ethylene in Asia, Japan's ethylene production capacity began to gradually decrease, which is expected to decrease by 15% to 6.8 million tons / year

by 2017
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