Japan Polyurethane Market Size, Share & Trends Analysis Report By Raw Material (Polyols, Toluene Di-isocyanate, Methylene Diphenyl Di-isocyanate, and Others), By Application, By Product, and Forecast, 2023 - 2030

The Japan Polyurethane Market size is expected to reach $11.3 Billion by 2030, rising at a market growth of 3.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,148.5 Kilo Tonnes, experiencing a growth of 3.3% (2019-2022).

The polyurethane market in Japan has witnessed significant growth and development in recent years. One of the primary drivers of the polyurethane market in Japan is the automotive sector. Japan is renowned for its automotive industry, with leading companies like Toyota, Honda, and Nissan dominating domestic and international industries. With the increasing focus on fuel efficiency and sustainability, there has been a growing demand for lightweight materials like polyurethane in vehicle manufacturing, further fueling the growth of the polyurethane market.

Moreover, the electronics industry represents another lucrative industry for polyurethane in Japan. As a global hub for technology and innovation, electronic devices are integral to the country's economy. As Japanese consumer electronics evolve with advancements such as wearables, IoT devices, and electric vehicles, the demand for polyurethane coatings will remain robust.

According to the Japan Automobile Dealers Association (JADA), in Japan, the polyurethane market witnessed a surge in demand, with sales reaching close to 1.4 million units in 2020, mirroring the momentum seen in the sales of new electric vehicles during the same period.

Additionally, the medical and healthcare sectors represent emerging industries for polyurethane in Japan. Polyurethane materials are used in medical devices, prosthetics, and orthopedic implants due to their biocompatibility, flexibility, and durability. With Japan's aging population and the increasing prevalence of chronic diseases, there is a growing need for advanced medical technologies and devices, driving the demand for polyurethane-based solutions.

According to the International Trade Administration, the polyurethane market in Japan is poised for significant growth, mirroring the demographic shift towards an aging population. By 2060, the proportion of Japanese citizens over the age of 65 is projected to increase from 29% to 40%. 

The COVID-19 pandemic has significantly impacted the polyurethane market in Japan. The lockdown measures and restrictions imposed to curb the spread of the virus disrupted production and supply chains, leading to a temporary slowdown in demand. However, as the economy gradually recovers and industries resume operations, the demand for polyurethane is expected to rebound. Moreover, the pandemic has highlighted the importance of resilient and sustainable supply chains, which drive investments in the polyurethane market to enhance production efficiency and reduce dependency on foreign suppliers.

Market Trends

Increasing adoption of elastomers

The adoption of elastomers in Japan has been on the rise, driven by various factors. One significant driver of elastomer adoption in Japan is the country's relentless pursuit of innovation and technological excellence. Japanese companies have been at the forefront of developing advanced elastomer materials with enhanced properties to meet the evolving needs of various sectors. For instance, in the automotive industry, where reliability and durability are paramount, elastomers are extensively used in manufacturing components such as tires, seals, and gaskets. The relentless pursuit of fuel efficiency and environmental sustainability has further spurred the demand for elastomers in this sector, driving manufacturers to develop lightweight, eco-friendly elastomeric materials.

Furthermore, the consumer electronics sector in Japan has witnessed a surge in demand for elastomers, particularly in the manufacturing of protective cases, seals, and gaskets for smartphones, tablets, and wearable devices. Consumers increasingly demand aesthetically pleasing but durable and resilient products, so manufacturers are turning to elastomers to meet these requirements.

In addition to domestic consumption, Japan's elastomer industry is also experiencing export growth, fueled by the country's reputation for producing high-quality and reliable materials. Japanese elastomer manufacturers are actively tapping into global industries, leveraging their technological expertise and reputation for quality to gain a competitive edge. Thus, the adoption of elastomers in Japan is on the rise, driven by innovation and technological advancements across industries, bolstered by a strong domestic and international industry presence.

Rising advancements in insulation technologies

In Japan, the polyurethane market is witnessing a significant transformation fueled by technological advancements in insulation materials. This evolution is primarily driven by the country's stringent energy efficiency standards and the growing demand for sustainable building solutions. Japan, known for its commitment to innovation and environmental sustainability, is at the forefront of adopting advanced insulation technologies that enhance energy efficiency and also contribute to global efforts to reduce carbon emissions.

One of the key advancements in the polyurethane market is the development of new formulations and additives that significantly improve the thermal insulation properties of polyurethane foams. These cutting-edge formulations increase the foam's resistance to heat flow, thus ensuring better insulation performance. This is particularly crucial in Japan's varied climate, from the cold temperatures in the north to the humid conditions in the south, demanding versatile and effective insulation solutions.

Moreover, Japanese researchers and companies are pioneering nano-technology integration in polyurethane insulation. Nano-technologyNano-technology allows the manipulation of materials at the molecular or atomic level, enabling the development of polyurethane foams with unprecedented insulation characteristics. These nano-enhanced foams offer superior thermal insulation, enhanced strength, durability, and fire resistance, making them ideal for a wide range of applications, from residential and commercial buildings to industrial facilities. Hence, Japan's polyurethane market is revolutionizing insulation with technological innovations, aligning with its energy efficiency and environmental sustainability commitment.

Competition Analysis

In Japan, the polyurethane market is a vital segment within the chemical industry, serving various applications across various sectors such as automotive, construction, electronics, and furniture. One of the leading players in the Japanese polyurethane market is Mitsui Chemicals, Inc., a diversified chemical company with a significant presence in polyurethane production. Mitsui Chemicals manufactures various polyurethane raw materials, including polyols, isocyanates, additives, and specialty chemicals. These materials are used in applications such as foam insulation, cushioning, adhesives, coatings, and elastomers.

Another key player in the Japanese polyurethane market is Sekisui Chemical Co., Ltd., a leading manufacturer of polyurethane foam products. Sekisui Chemical produces polyurethane foam for insulation, packaging, automotive interiors, and construction applications. The company's foam products offer excellent thermal insulation properties, lightweight construction, and design flexibility, making them suitable for various industrial and consumer applications. Sekisui Chemical's focus on quality, innovation, and customer satisfaction has established it as a trusted supplier in the Japanese polyurethane market.

BASF Japan Ltd., a subsidiary of BASF SE, is also a significant contributor to the Japanese polyurethane market, offering a diverse portfolio of polyurethane raw materials and systems. The company's polyurethane solutions include polyols, isocyanates, additives, and formulated systems for applications such as flexible, rigid, elastomers, coatings, and adhesives. With a strong focus on sustainability and innovation, BASF collaborates with customers and industry partners to develop customized polyurethane solutions that meet specific performance requirements and regulatory standards.

In addition to these major players, several other companies play important roles in the Japanese polyurethane market, contributing to its competitiveness and innovation. Companies such as Tosoh Corporation, Tosoh Finechem Corporation, and Mitsui Chemicals Tohcello, Inc. are actively involved in polyurethane production, supplying raw materials, additives, and specialty products to meet the diverse needs of customers in Japan and abroad. These companies leverage their chemistry, engineering, and manufacturing expertise to develop innovative polyurethane solutions that address industry demands and drive industry growth. Companies within the industry are continuously investing in research and development to improve product performance, enhance manufacturing processes, and reduce environmental impact.

List of Key Companies Profiled

• ArcelorMittal S.A.
• thyssenkrupp AG
• BASF SE
• Covestro AG
• The Dow Chemical Company
• Huntsman Corporation
• Lanxess AG
• Mitsui Chemicals, Inc.
• Tosoh Corporation
• Eastman Chemical Company

Japan Polyurethane Market Report Segmentation

By Raw Material

• Polyols
• Toluene Di-isocyanate
• Methylene Diphenyl Di-isocyanate
• Others

By Application

• Construction
• Furniture & Interiors
• Electronics & Appliances
• Footwear
• Automotive
• Packaging
• Others

By Product

• Rigid Foam
• Flexible Foam
• Coatings
• Adhesives & Sealants
• Elastomers
• Others

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Japan Polyurethane Market, by Raw Material
1.4.2 Japan Polyurethane Market, by Application
1.4.3 Japan Polyurethane Market, by Product
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Opportunities
2.2.3 Market Restraints
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter Five Forces Analysis

Chapter 3. Strategies Deployed in Polyurethane Market.

Chapter 4. Japan Polyurethane Market
4.1 Japan Polyurethane Market by Raw Material
4.2 Japan Polyurethane Market by Application
4.3 Japan Polyurethane Market by Product

Chapter 5. Company Profiles – Global Leaders
5.1 ArcelorMittal S.A.
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expenses
5.1.5 SWOT Analysis
5.2 thyssenkrupp AG
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expenses
5.2.5 SWOT Analysis
5.3 BASF SE
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental and Regional Analysis
5.3.4 Research & Development Expense
5.3.5 Recent strategies and developments:
5.3.5.1 Partnerships, Collaborations, and Agreements:
5.3.5.2 Geographical Expansions:
5.3.6 SWOT Analysis
5.4 Covestro AG
5.4.1 Company Overview
5.4.2 Financial Analysis
5.4.3 Segmental and Regional Analysis
5.4.4 Research & Development Expenses
5.4.5 Recent strategies and developments:
5.4.5.1 Partnerships, Collaborations, and Agreements:
5.4.5.2 Product Launches and Product Expansions:
5.4.5.3 Acquisition and Mergers:
5.4.5.4 Geographical Expansions:
5.4.6 SWOT Analysis
5.5 The Dow Chemical Company
5.5.1 Company Overview
5.5.2 Financial Analysis
5.5.3 Segmental and Regional Analysis
5.5.4 Research & Development Expenses
5.5.5 Recent strategies and developments:
5.5.5.1 Partnerships, Collaborations, and Agreements:
5.5.6 SWOT Analysis
5.6 Huntsman Corporation
5.6.1 Company Overview
5.6.2 Financial Analysis
5.6.3 Segment and Regional Analysis
5.6.4 Research & Development Expense
5.6.5 Recent strategies and developments:
5.6.5.1 Acquisition and Mergers:
5.6.6 SWOT Analysis
5.7 Lanxess AG
5.7.1 Company Overview
5.7.2 Financial Analysis
5.7.3 Segmental and Regional Analysis
5.7.4 Research & Development Expenses
5.7.5 Recent strategies and developments:
5.7.5.1 Partnerships, Collaborations, and Agreements:
5.7.6 SWOT Analysis
5.8 Mitsui Chemicals, Inc.
5.8.1 Company Overview
5.8.2 Financial Analysis
5.8.3 Segmental and Regional Analysis
5.8.4 Research & Development Expenses
5.8.5 Recent strategies and developments:
5.8.5.1 Partnerships, Collaborations, and Agreements:
5.8.6 SWOT Analysis
5.9 Tosoh Corporation
5.9.1 Company Overview
5.9.2 Financial Analysis
5.9.3 Segmental and Regional Analysis
5.9.4 Research & Development Expenses
5.9.5 SWOT Analysis
5.10. Eastman Chemical Company
5.10.1 Company Overview
5.10.2 Financial Analysis
5.10.3 Segmental and Regional Analysis
5.10.4 Research & Development Expense
5.10.5 SWOT Analysis

TABLE 1 Japan Polyurethane Market, 2019 - 2022, USD Million
TABLE 2 Japan Polyurethane Market, 2023 - 2030, USD Million
TABLE 3 Japan Polyurethane Market, 2019 - 2022, Kilo Tonnes
TABLE 4 Japan Polyurethane Market, 2023 - 2030, Kilo Tonnes
TABLE 5 Japan Polyurethane Market by Raw Material, 2019 - 2022, USD Million
TABLE 6 Japan Polyurethane Market by Raw Material, 2023 - 2030, USD Million
TABLE 7 Japan Polyurethane Market by Raw Material, 2019 - 2022, Kilo Tonnes
TABLE 8 Japan Polyurethane Market by Raw Material, 2023 - 2030, Kilo Tonnes
TABLE 9 Japan Polyurethane Market by Application, 2019 - 2022, USD Million
TABLE 10 Japan Polyurethane Market by Application, 2023 - 2030, USD Million
TABLE 11 Japan Polyurethane Market by Application, 2019 - 2022, Kilo Tonnes
TABLE 12 Japan Polyurethane Market by Application, 2023 - 2030, Kilo Tonnes
TABLE 13 Japan Polyurethane Market by Product, 2019 - 2022, USD Million
TABLE 14 Japan Polyurethane Market by Product, 2023 - 2030, USD Million
TABLE 15 Japan Polyurethane Market by Product, 2019 - 2022, Kilo Tonnes
TABLE 16 Japan Polyurethane Market by Product, 2023 - 2030, Kilo Tonnes
TABLE 17 key Information – ArcelorMittal S.A.
TABLE 18 Key Information – thyssenkrupp AG
TABLE 19 Key Information – BASF SE
TABLE 20 key information – Covestro AG
TABLE 21 Key Information – The Dow Chemical Company
TABLE 22 key Information – Huntsman Corporation
TABLE 23 Key Information – Lanxess AG
TABLE 24 Key Information – Mitsui Chemicals, Inc.
TABLE 25 Key Information – Tosoh Corporation
TABLE 26 Key Information – Eastman Chemical Company

List of Figures
FIG 1 Methodology for the research
FIG 2 Japan Polyurethane Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Polyurethane Market
FIG 4 Porter’s Five Forces Analysis – Polyurethane Market
FIG 5 Japan Polyurethane Market share by Raw Material, 2022
FIG 6 Japan Polyurethane Market share by Raw Material, 2030
FIG 7 Japan Polyurethane Market by Raw Material, 2019 - 2030, USD Million
FIG 8 Japan Polyurethane Market share by Application, 2022
FIG 9 Japan Polyurethane Market share by Application, 2030
FIG 10 Japan Polyurethane Market by Application, 2019 - 2030, USD Million
FIG 11 Japan Polyurethane Market share by Product, 2022
FIG 12 Japan Polyurethane Market share by Product, 2030
FIG 13 Japan Polyurethane Market by Product, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: ArcelorMittal S.A.
FIG 15 SWOT Analysis: thyssenkrupp AG
FIG 16 Recent strategies and developments: BASF SE
FIG 17 SWOT Analysis: BASF SE
FIG 18 Recent strategies and developments: Covestro AG
FIG 19 SWOT Analysis: Covestro AG
FIG 20 SWOT Analysis: The Dow Chemical Company
FIG 21 SWOT Analysis: Huntsman Corporation
FIG 22 Swot Analysis: Lanxess AG
FIG 23 SWOT Analysis: Mitsui Chemicals, Inc.
FIG 24 SWOT Analysis: Tosoh Corporation
FIG 25 SWOT Analysis: Eastman Chemical Company