Japan Green Chemical Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 9.6% from 2023 to 2033
• The Japan Green Chemical Market Size is Expected to Hold a Significant Share by 2033.

The Japan Green Chemical Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a CAGR of 9.6% from 2023 to 2033

Market Overview

The market for green chemicals includes eco-friendly chemical goods and procedures that reduce the negative effects of chemical manufacture on the environment. It uses sustainable production techniques, renewable feedstock, and bio-based chemicals to cut waste, energy use, and greenhouse gas emissions. The goal of green chemicals is to improve or replace conventional chemical products that could be harmful to the environment or human health. Additionally, products made from renewable resources, including biofuels, bioplastics, and biodegradable materials, make up Japan's green chemical market. Japan is headed toward becoming a technologically sophisticated country that prioritizes environmental sustainability. Furthermore, the Japanese government's announcement that it will be "carbon neutral by 2050" is receiving enough attention to address the several problems endangering humankind's ability to live sustainably. This strikes a balance between the amount of gas absorbed and the amount of greenhouse gas output. Green chemistry activities are being made possible by Japan's regulatory framework.

Report Coverage

This research report categorizes the market for the Japan green chemical market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan green chemical market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan green chemical market.

Driving Factors

The Japanese market is being driven by rising customer demand for eco-friendly products, policies that promote sustainability, and increased environmental consciousness. In Japan, the automotive, cosmetics, packaging, and agricultural sectors all employ green chemicals. Their role is crucial in Japan's transition to more responsible and sustainable chemical manufacturing methods. The market is expanding in large part due to Japan's push for greener solutions. Additionally, according to Japan's Green Growth Strategy, the private sector will invest 240 trillion yen ($1.7 trillion) in savings in sectors like construction, batteries, fuels, and carbon recycling. By 2030, it is estimated that this investment in Japan will generate 8.7 million employment and have an economic impact of almost $1 trillion. By 2050, the impact will reach $2 trillion in Japan and create 18 million employments. The market for green chemicals in Japan is being driven by rising government subsidies and private sector investments for sectors including construction, rechargeable batteries, energy sources, and carbon recycling to promote the use of green energy sources.

Restraining Factors

The Japanese market for green chemicals is hampered by technological difficulties, greater upfront expenses, and the requirement for broader market acceptance and adoption.

Market Segmentation

The Japan green chemical market share is classified into type and application.

• The bio-alcohols segment is expected to hold a significant market share through the forecast period.

The Japan green chemical market is segmented by type into bio-alcohols, bio-polymers, bio-organic acids, and bio-ketones. Among these, the bio-alcohols segment is expected to hold a significant market share through the forecast period. In the market for green chemicals, bio-alcohols such as ethanol, methanol, and butanol made from bio-based feedstock have become more popular. They are sought-after substitutes due to their environmentally benign qualities and versatility across a variety of industries, including fuel manufacturing and cosmetics.

• The industrial & chemical segment is expected to dominate the Japan green chemical market during the forecast period.       

Based on the application, the Japan green chemical market is divided into industrial & chemical, food & beverages, pharmaceuticals, packaging, and construction. Among these, the industrial & chemical segment is expected to dominate the Japan green chemical market during the forecast period. Green chemicals are widely used as catalysts, chemical solvents, and raw materials in the industrial and chemical sectors. A rising shift toward environmentally friendly methods of production is the trend here.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan green chemical market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Toray Industries, Inc.
• Mitsubishi Chemical Holdings
• Sumitomo Chemical Co., Ltd.
• Asahi Kasei Corporation
• DIC Corporation
• Nippon Shokubai Co., Ltd.
• Kuraray Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2022, Mitsubishi Corporation ("MC") and Neste have decided to form a strategic alliance with the goal of creating value chains for green chemicals and polymers for and with Japanese brands. During the collaboration, Neste will provide its knowledge of sustainability and more environmentally friendly materials, including renewable Neste RE™, a bio-based raw material used to make plastics.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Green Chemical Market based on the below-mentioned segments:

Japan Green Chemical Market, By Type

• Bio-alcohols
• Bio-polymers
• Bio-organic acids
• Bio-ketones

Japan Green Chemical Market, By Application

• Industrial & Chemical
• Food & Beverages
• Pharmaceuticals
• Packaging
• Construction