Japan Engineering Plastics Market Size

The Japan Engineering Plastics Market is projected to experience significant growth, driven by its application across various industries such as packaging, electrical and electronics, and automotive. The market's expansion is particularly notable in the electrical and electronics sector, which is the largest in Japan, fueled by the increasing demand for electronic components and devices. The automotive industry also contributes substantially to the market, with a marked increase in vehicle production. Additionally, the aerospace industry is emerging as a key growth area, with rising investments expected to further boost the demand for engineering plastics.

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Market Size of japan engineering plastics Industry

Japan Engineering Plastics Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 5.72 Billion
svg icon Market Size (2029) USD 7.59 Billion
svg icon Largest Share by End User Industry Electrical and Electronics
svg icon CAGR (2024 - 2029) 5.80 %
svg icon Fastest Growing by End User Industry Electrical and Electronics

Major Players

Japan Engineering Plastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Japan Engineering Plastics Market Analysis

The Japan Engineering Plastics Market size is estimated at 5.72 billion USD in 2024, and is expected to reach 7.59 billion USD by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).

5.72 Billion

Market Size in 2024 (USD)

7.59 Billion

Market Size in 2029 (USD)

2.89 %

CAGR (2017-2023)

5.80 %

CAGR (2024-2029)

Largest Market by End-user Industry

31.24 %

value share, Electrical and Electronics, 2023

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The electronics segment occupied the highest market share due to the widespread applications of engineering plastics like ABS/SAN, PC, and PA in advanced and smart electrical devices.

Fastest Growing Market by End-user Industry

7.69 %

Projected CAGR, Electrical and Electronics, 2024-2029

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The electronics industry is expected to witness the fastest growth due to the rapid adoption of lightweight and high-impact resistant engineering plastics to replace traditional metal parts.

Largest Market by Resin Type

22.53 %

value share, Polycarbonate (PC), 2023

Polycarbonate resin has occupied the largest share owing to its notable usage in electronics as a good electrical insulator with flame-retardant properties. The resin has widespread applications in the automotive and machinery industries.

Fastest Growing Market by Resin Type

9.17 %

Projected CAGR, Liquid Crystal Polymer (LCP), 2024-2029

Owing to the rising demand for high-performance, smaller, and thinner electrical components, LCP resin is projected to witness the fastest growth in the coming years.

Leading Market Player

21.02 %

market share, Mitsubishi Chemical Corporation, 2022

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In 2022, with the largest production capacity of around 490 kilotons per year of polymers in Japan, the company held the largest market share. Mitsubishi offers various resins, including PC, PET, PBT, and POM.

The electrical and electronics industry to maintain its dominance in terms of both value and volume

  • Engineering plastics have applications ranging from interior wall panels and doors in aerospace to rigid and flexible packaging. In Japan, the engineering plastics market is led by the packaging, electrical and electronics, and automotive industries. Packaging and electrical and electronics industries accounted for around 26.89% and 27.23% of the engineering plastics market volume in 2022.
  • The electrical and electronics sector is the largest in the country. For instance, the Japanese electronics industry experienced a 2% Y-o-Y increase in domestic production in 2022, reaching a total of USD 84.34 billion. This growth was mainly attributed to the strong performance of electronic components and devices in exports, the rising usage of electronic components in vehicles, and the increasing demand for electric measuring instruments due to the growth of 5G technology. These factors led to higher consumption of engineering plastics in the country, with volume growth of 1.12% in 2022 compared to the previous year.
  • In 2022, the automotive industry accounted for 25.65% of the revenue share, which made it the second largest promising industry in the country. In 2022, the Japanese automotive industry grew at a Y-o-Y rate of 15.15% compared to the previous year. This was mainly due to an increase in vehicle production in the country, which was recorded at 9.41 million units in 2022, 3.49% higher than the previous year.
  • Aerospace is the fastest-growing industry in the country in terms of revenue, with a projected CAGR of 7.69%, owing to increased spending in the aerospace industry, which is expected to drive the demand for engineering plastics during the forecast period. Japan's aerospace component production revenue is expected to reach around USD 17 billion by 2029.
Japan Engineering Plastics Market

Japan Engineering Plastics Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN) are covered as segments by Resin Type.

  • Engineering plastics have applications ranging from interior wall panels and doors in aerospace to rigid and flexible packaging. In Japan, the engineering plastics market is led by the packaging, electrical and electronics, and automotive industries. Packaging and electrical and electronics industries accounted for around 26.89% and 27.23% of the engineering plastics market volume in 2022.
  • The electrical and electronics sector is the largest in the country. For instance, the Japanese electronics industry experienced a 2% Y-o-Y increase in domestic production in 2022, reaching a total of USD 84.34 billion. This growth was mainly attributed to the strong performance of electronic components and devices in exports, the rising usage of electronic components in vehicles, and the increasing demand for electric measuring instruments due to the growth of 5G technology. These factors led to higher consumption of engineering plastics in the country, with volume growth of 1.12% in 2022 compared to the previous year.
  • In 2022, the automotive industry accounted for 25.65% of the revenue share, which made it the second largest promising industry in the country. In 2022, the Japanese automotive industry grew at a Y-o-Y rate of 15.15% compared to the previous year. This was mainly due to an increase in vehicle production in the country, which was recorded at 9.41 million units in 2022, 3.49% higher than the previous year.
  • Aerospace is the fastest-growing industry in the country in terms of revenue, with a projected CAGR of 7.69%, owing to increased spending in the aerospace industry, which is expected to drive the demand for engineering plastics during the forecast period. Japan's aerospace component production revenue is expected to reach around USD 17 billion by 2029.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Resin Type
Fluoropolymer
By Sub Resin Type
Ethylenetetrafluoroethylene (ETFE)
Fluorinated Ethylene-propylene (FEP)
Polytetrafluoroethylene (PTFE)
Polyvinylfluoride (PVF)
Polyvinylidene Fluoride (PVDF)
Other Sub Resin Types
Liquid Crystal Polymer (LCP)
Polyamide (PA)
By Sub Resin Type
Aramid
Polyamide (PA) 6
Polyamide (PA) 66
Polyphthalamide
Polybutylene Terephthalate (PBT)
Polycarbonate (PC)
Polyether Ether Ketone (PEEK)
Polyethylene Terephthalate (PET)
Polyimide (PI)
Polymethyl Methacrylate (PMMA)
Polyoxymethylene (POM)
Styrene Copolymers (ABS and SAN)
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Japan Engineering Plastics Market Size Summary

The Japan engineering plastics market is poised for significant growth, driven by its extensive applications across various industries such as packaging, electrical and electronics, and automotive. These sectors are the primary contributors to the market's expansion, with the electrical and electronics industry being the largest. The sector's growth is fueled by the increasing demand for electronic components in vehicles and the rise of 5G technology, which has led to higher consumption of engineering plastics. The automotive industry also plays a crucial role, with a notable increase in vehicle production contributing to the market's revenue. Additionally, the aerospace industry is emerging as a fast-growing sector, with increased spending expected to drive demand for engineering plastics.

The market landscape in Japan is moderately consolidated, with major players like Daicel Corporation, Mitsubishi Chemical Corporation, and Sumitomo Chemical Co., Ltd. dominating the scene. These companies are actively innovating, as seen with AGC Inc.'s introduction of advanced fluoropolymers and Toray Industries' development of high-performance materials for 3D printing. The market's growth trajectory is supported by strategic investments and collaborations, such as the joint venture between Mitsui Chemicals and Teijin Limited to produce biomass polycarbonate resins. Despite challenges like chip shortages and pandemic-related disruptions, the market is set to benefit from government initiatives and industry advancements, ensuring a robust outlook for the coming years.

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Japan Engineering Plastics Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Electrical and Electronics

      5. 1.1.5 Industrial and Machinery

      6. 1.1.6 Packaging

      7. 1.1.7 Other End-user Industries

    2. 1.2 Resin Type

      1. 1.2.1 Fluoropolymer

        1. 1.2.1.1 By Sub Resin Type

          1. 1.2.1.1.1 Ethylenetetrafluoroethylene (ETFE)

          2. 1.2.1.1.2 Fluorinated Ethylene-propylene (FEP)

          3. 1.2.1.1.3 Polytetrafluoroethylene (PTFE)

          4. 1.2.1.1.4 Polyvinylfluoride (PVF)

          5. 1.2.1.1.5 Polyvinylidene Fluoride (PVDF)

          6. 1.2.1.1.6 Other Sub Resin Types

      2. 1.2.2 Liquid Crystal Polymer (LCP)

      3. 1.2.3 Polyamide (PA)

        1. 1.2.3.1 By Sub Resin Type

          1. 1.2.3.1.1 Aramid

          2. 1.2.3.1.2 Polyamide (PA) 6

          3. 1.2.3.1.3 Polyamide (PA) 66

          4. 1.2.3.1.4 Polyphthalamide

      4. 1.2.4 Polybutylene Terephthalate (PBT)

      5. 1.2.5 Polycarbonate (PC)

      6. 1.2.6 Polyether Ether Ketone (PEEK)

      7. 1.2.7 Polyethylene Terephthalate (PET)

      8. 1.2.8 Polyimide (PI)

      9. 1.2.9 Polymethyl Methacrylate (PMMA)

      10. 1.2.10 Polyoxymethylene (POM)

      11. 1.2.11 Styrene Copolymers (ABS and SAN)

Japan Engineering Plastics Market Size FAQs

The Japan Engineering Plastics Market size is expected to reach USD 5.72 billion in 2024 and grow at a CAGR of 5.80% to reach USD 7.59 billion by 2029.

In 2024, the Japan Engineering Plastics Market size is expected to reach USD 5.72 billion.

Japan Engineering Plastics Market Report Snapshots

Japan Engineering Plastics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029