Japan synthetic rubber market is expected to grow at a modest growth during the forecast period. The country is one of the major rubber consumers globally. There are more than 1,200 companies involved in the business of rubber products with 20 synthetic rubber manufacturing companies effective manufacturing plants in Japan. Bridgestone Corp., Sumitomo Rubber Industries Ltd., Yokohama Rubber Co. Ltd., and Toyo Tire & Rubber Co. Ltd. are the Japanese based tire companies that have their plants for synthetic rubber.
Japan has the third-largest automobile industry after China and the US. There is a diverse variety of rubber products manufactured in Japan, majorly driven by automobile rubber products. Tires and anti-vibration rubber for cars are the rubber products in the automobile application. The synthetic rubber industry in Japan is driven by the growing demand for high vehicle ownership and increasing demand for better quality tires. Moreover, the country exports tire and rubber products to tire manufacturers in the Middle East, Europe, and North America. On the other hand, Japan imports most of its tires from major tire manufacturing Asian countries including Thailand, Indonesia, and Malaysia. Kanto and Kansai regions of Japan held a cumulative market share of more than 45%, in volume terms.
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Presence of companies such as Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, Isuzu, Kawasaki, Yamaha, and Mitsuoka in Japan and its contribution in the global automotive market is contributing to the surge the demand for tires in Japan. The other factors that make Japan rubber industry as one of the most established manufacturers of secondary processed goods such as belts, hoses, anti-vibration, and seismic isolation rubber, rolls, sheet rubber, sealing materials, and medical products. Diverse rubber products manufactured in the country are driving the overall growth of the market.
The market is divided based on type and end-user. By type, the market is further segmented into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. Styrene-Butadiene rubber is expected to hold a significant market share during the forecast period. By end-user, the market is divided into automobile components, industrial application, footwear, household, and others. By end-user, automobile components are expected to hold a major market share in the near future.
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Japan Synthetic Rubber Market Segmentation
By Type
· Styrene-Butadiene Rubber (SBR)
· Polybutadiene Rubber (BR)
· Ethylene Propylene Rubber (EPDM)
· Isoprene Rubber (IR)
· Others (Nitrile Butadiene Rubber (NBR), Butyl Rubber (IIR), Chloroprene Rubber (CR))
By End-User
· Automobile Component
· Industrial Application
· Footwear
· Household
· Others (Electronics, Aerospace)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
