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Announcement of a Report on the Research Results concerning the Market Structure of the Petrochemical Industry

The Ministry of Economy, Trade and Industry (METI) has conducted research concerning the market structure of the petrochemical industry under Article 50 of the Industrial Competitiveness Enhancement Act, and compiled the results into a report. METI hereby announces the report today.

In this report, METI assumes that Japan will face severer situations in the field of the petrochemical industry considering some elements, including the inflow of chemical products, derived from low-cost shale gas from North America, to Asian markets and the increased production of coal chemicals in China, and it forecasts the trends in future energy supply-demand balance.

Concerning such severe situations, METI states challenges that the industry may face and proposes future directions to which the industry should make efforts, including a prospect that the industry will need to consolidate facilities and restructure businesses in the near future due to the decrease in oil production.

Reference

Article 50 of the Industrial Competitiveness Enhancement Act (excerpt) *provisional translation

If the government finds it necessary to facilitate business reconstruction by business operators, it shall conduct research for ascertaining trends in the supply and demand of products or services or confirming market structures, including whether or not the target business fields are in a state of structural oversupply, and also shall publicize the results.

Release date

November 7, 2014

Division in charge

Chemicals Division, Manufacturing Industries Bureau

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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