Analysis on the 2018 Synthetic Resins Market in Japan & South Korea: 2017-2025 Coverage - The Increased Use of Lightweight Components to Address Stringent Regulations is Driving Growth

Dublin, Nov. 15, 2018 (GLOBE NEWSWIRE) -- The "Synthetic Resins Market, by Product Type; for Application - Japan and South Korea Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025" report has been added to ResearchAndMarkets.com's offering.

The Japan and South Korea synthetic resins market stood at more than 30,000 kilotons in the year 2016 and it is expected to reach around 40 million tons by 2025. The Japan and South Korea synthetic resins market is expected to exhibit a CAGR of around 3% between 2017 and 2025.

The Japan and South Korea synthetic resins market was valued more than USD 50 billion in the year 2016 and it is expected to reach more than USD 67 billion by 2025. The Japan and South Korea synthetic resins market is expected to exhibit a CAGR of around 4% between 2017 and 2025.

Drivers and Restraints

The major factor driving the growth of synthetic resins market is the increased use of the lightweight components to address stringent regulations. Lightweight components have a huge demand in various end-user industries since regulatory taxes and duties could be prevented if the weight of finished products is kept under specified limits. Since most of these lightweight components are manufactured with synthetic resins as raw material, the demand for synthetic resins is expected to grow during the forecast period.

Metals are increasingly getting replaced with plastics and composite materials to save cost and reduce weight. Thus, increasing penetration of composite materials for replacing metals is also expected to boost the demand for synthetic resins in Japan and South Korea.

Environmental concerns regarding inability for natural decomposition of some of these synthetic resin materials are expected to limit the growth of synthetic resins during the forecast period in these countries.

Segmentation

Thermoplastic resins offer numerous advantages such as high recyclability, high-impact resistance, reshaping capabilities, chemical resistance, aesthetically superior finishes, hard crystalline or rubbery surface options, and eco-friendly manufacturing process over thermoset resins. In the product type segment, thermoplastic resins held leading share of more than 80%, in 2016. Thermoplastics are processed using various methods such as injection molding, extrusion, and thermoforming, among others.

Packaging products are mostly made from thermosetting resins such as phenolic epoxy resins as well as from thermoplastics such as polypropylene among others. Increasing packaging requirements for consumer goods, electronics, and durables among various other goods and products have boosted the demand for synthetic resins in a packaging application. Additionally, the automotive and electronics applications are expected to grow at leading rates of more than 3%.

Japan dominated the Japan and South Korea synthetic resins market with around 60% share, in 2016. The dynamic presence and increasing number of manufacturing industries such as automotive and electronics among others are expected to drive synthetic resins market in Japan during the forecast period. Thermoplastic resins dominate the Japan synthetic resins market.

Industry Players

The prominent market players maintain the competitive edge in the Japan and South Korea market by innovating and introducing new formulations. These new formulations could find applications in other upcoming end-user industries, thus, spurring the growth of synthetic resins market.

Players consolidate by undertaking merger and acquisition activities. Additionally, major players have started their operations in emerging economies to provide cost-effective products in these regions and eliminate any potential supply chain bottlenecks.

Key Topics Covered

1. Introduction
1.1. Report Description and Scope
1.2. Research Scope
1.3. Market Derivation
1.4. Research Methodology
1.4.1. Market Research Process
1.4.2. Market Research Methodology

2. Executive Summary
2.1. Japan and South Korea Synthetic Resins Market, 2016 2025 (Kilo Tons) (USD Million)
2.2. Japan and South Korea Synthetic Resins Market: Snapshot

3. Synthetic Resins Industry Analysis
3.1. Introduction
3.2. Market Drivers
3.2.1. Rising demand for sustainable (recycling) and fast-curing materials
3.2.2. Increasing demand for lightweight components to address stringent regulations
3.2.3. Increasing penetration of composite materials for replacing metals
3.3. Market Restraints
3.3.1. Environmental concerns regarding inability for natural decomposition of some of these materials
3.4. Opportunities
3.4.1. Increasing automotive manufacturing
3.4.2. Increasing electronics and electrical manufacturing
3.5. Porters Five Forces Analysis
3.6. Value Chain Analysis
3.7. Market Attractiveness Analysis
3.7.1. By Product Type
3.7.2. By Application
3.7.3. By Country
3.8. List of Suppliers
3.9. List of Buyers
3.10. Key Trends

4. Japan and South Korea Synthetic Resins Market Product Type Analysis
4.1. Synthetic Resins Market: Product Type Analysis
4.1.1. Japan and South Korea Synthetic Resins Market Share by Product Type, 2016 and 2025
4.2. Thermoplastic Resins
4.2.1. Japan and South Korea Thermoplastic Resins Market, 2016 - 2025, (Kilo Tons) (USD Million)
4.3. Thermosetting Resins
4.3.1. Japan and South Korea Thermosetting Resins Market, 2016 - 2025, (Kilo Tons) (USD Million)

5. Japan and South Korea Synthetic Resins Market Application Analysis
5.1. Synthetic Resins Market: Application Analysis
5.1.1. Japan and South Korea Synthetic Resins Market Share by Application, 2016 and2025
5.2. Packaging
5.2.1. Japan and South Korea Synthetic Resins Market for Packaging Application, 2016 - 2025, (Kilo Tons) (USD Million)
5.3. Building Supplies
5.3.1. Japan and South Korea Synthetic Resins Market for Building Supplies Application, 2016 - 2025, (Kilo Tons) (USD Million)
5.4. Automotive
5.4.1. Japan and South Korea Synthetic Resins Market for Automotive Application, 2016 - 2025, (Kilo Tons) (USD Million)
5.5. Electronics
5.5.1. Japan and South Korea Synthetic Resins Market for Electronics Application, 2016 - 2025, (Kilo Tons) (USD Million)
5.6. Others
5.6.1. Japan and South Korea Synthetic Resins Market for Other Applications, 2016 - 2025, (Kilo Tons) (USD Million)

6. Japan and South Korea Synthetic Resins Market: Country Analysis
6.1. Japan and South Korea Synthetic Resins Market: Country Overview
6.1.1. Japan and South Korea Synthetic Resins Market Share By Country, 2016 and 2025
6.2. Japan
6.2.1. Japan Synthetic Resins Market, 2016 2025, (Kilo Tons) (USD Million)
6.2.2. Japan Synthetic Resins Market, By Product Type, 2016 2025, (Kilo Tons) (USD Million)
6.2.3. Japan Synthetic Resins Market, By Application,2016 2025, (Kilo Tons) (USD Million)
6.3. South Korea
6.3.1. South Korea Synthetic Resins Market, 2016 2025, (Kilo Tons) (USD Million)
6.3.2. South Korea Synthetic Resins Market, By Product Type, 2016 2025, (Kilo Tons) (USD Million)
6.3.3. South Korea Synthetic Resins Market, By Application, 2016 2025, (Kilo Tons) (USD Million)

7. Company Profiles
7.1. Huntsman International LLC
7.1.1. Company Overview
7.1.2. Financials
7.1.3. Product / Service Portfolio
7.1.4. Business Strategy
7.1.5. SWOT Analysis
7.1.6. Recent Developments
7.2. MCC Chemicals Inc.
7.3. UPC Technology Corporation
7.4. Bayer AG
7.5. DSM
7.6. AssaAbloy AB
7.7. Akolite Synthetic Resins
7.8. Sinopec Corporation
7.9. Formosa Plastics Group
7.10. Purolite
7.11. Kansai Paint Co. Ltd.
7.12. Lawter Inc.
7.13. D.S.V Chemicals
7.14. Rutgers Group
7.15. The Dow Chemical Company
7.16. Nan Ya Plastics Corporation
7.17. Momentive
7.18. Kukdo Chemical Co. Ltd.
7.19. Gellner Industrial LLC
7.20. Synresins Ltd.
7.21. Chang Chun Group
7.22. BASF SE

For more information about this report visit https://www.researchandmarkets.com/research/rqb88b/analysis_on_the?w=12

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                    Related Topics: Plastic Resins