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Japan Industrial Solvents Market

Japan Industrial Solvents Market By Type (Alcohols, Ketones, Esters, Glycols, Others); By Application (Paints & Coatings, Pharmaceuticals, Printing Inks, Adhesives & Sealants, Others); By End-Use (Construction, Automotive, Electronics, Agriculture, Others); By Source (Petrochemical-Based Solvents, Bio-Based Solvents) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Japan Industrial Solvents Market Size 2024	USD 2,134.89 million
Japan Industrial Solvents Market , CAGR	7.62%
Japan Industrial Solvents Market Size 2032	USD 3,840.85 million

Market Overview

Japan Industrial Solvents market size was valued at USD 2,134.89 million in 2024 and is anticipated to reach USD 3,840.85 million by 2032, at a CAGR of 7.62% during the forecast period (2024-2032).

The Japan industrial solvents market is driven by the steady expansion of key end-use industries such as automotive, electronics, and chemicals, which demand high-performance solvents for manufacturing and processing applications. Increasing emphasis on energy-efficient production and the shift towards water-based and bio-based solvents due to environmental regulations are shaping market dynamics. Technological advancements in solvent formulation, aiming for lower toxicity and higher efficiency, are also contributing to market growth. Moreover, Japan’s commitment to sustainable industrial practices and innovation in green chemistry is fostering the adoption of eco-friendly solvent alternatives. The rise in infrastructure development and renovation projects further boosts demand for solvents in coatings, adhesives, and cleaning applications. In addition, strong research and development initiatives from domestic chemical manufacturers continue to support the evolution of solvent technologies. These trends collectively indicate a robust and sustainable growth trajectory for the Japanese industrial solvents market over the forecast period.

The geographical distribution of Japan’s industrial solvents market is centered around highly industrialized regions such as Kanto, Kansai, Chubu, and Kyushu. These areas serve as major hubs for manufacturing, automotive, electronics, and chemical production, driving consistent demand for a wide range of solvent applications. Urban development projects and technological innovation further support market growth across these regions. In terms of key players, the market is highly competitive and includes prominent domestic and international companies such as Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co., Ltd., and Toray Industries, Inc. Global players like Formosa Plastics Corporation, Reliance Industries Limited, LG Chem Ltd., and Sinopec Group also maintain a significant presence through partnerships and local operations. These companies focus on developing advanced, eco-friendly solvent solutions to meet evolving industrial needs and stricter environmental regulations. Strong R&D capabilities and strategic expansions continue to define competitive positioning within the Japanese industrial solvents landscape.

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Market Insights

The Japan industrial solvents market was valued at USD 2,134.89 million in 2024 and is projected to reach USD 3,840.85 million by 2032, growing at a CAGR of 7.62% from 2024 to 2032.
The global industrial solvents market was valued at USD 34,660.50 million in 2024 and is expected to reach USD 60,647.79 million by 2032, growing at a CAGR of 7.24% during the forecast period (2024-2032).
Key drivers of the market include the growth of manufacturing sectors, increased demand for eco-friendly solvents, and technological advancements in solvent formulations.
The shift toward bio-based and low-VOC solvents is a prominent trend, supported by stricter environmental regulations and the push for sustainability.
Technological innovation in solvent products, such as high-performance and water-based solvents, is shaping market growth.
Major competitors in the market include Mitsubishi Chemical Holdings, Sumitomo Chemical, and global players like Formosa Plastics and Reliance Industries.
Market restraints include the high costs associated with the development of eco-friendly solvents and supply chain disruptions.
The Kanto region leads in market share, followed by Kansai, Chubu, and Kyushu, driven by industrial demand in automotive, electronics, and pharmaceuticals.

Report Scope

This report segments the Japan Industrial Solvents market as follows:

Market Drivers

Expanding Manufacturing and Automotive Sectors

One of the primary drivers of the industrial solvents market in Japan is the continued growth and modernization of its manufacturing and automotive industries. Japan remains a global leader in automotive production, with major automakers like Toyota, Honda, and Nissan maintaining substantial domestic operations. For instance, the Japan Automobile Manufacturers Association (JAMA) reports that automotive production remains a key pillar of Japan’s economy, with solvent-intensive processes such as cleaning, degreasing, and coatings playing a crucial role in manufacturing. Similarly, Japan’s robust manufacturing base including electronics, precision machinery, and industrial equipment relies heavily on solvents for product fabrication and maintenance. As these industries adopt more sophisticated technologies and expand production capacity, the demand for high-performance industrial solvents is expected to grow proportionally.

Increasing Demand for Eco-Friendly and Low-VOC Solvents

Growing environmental awareness and stringent government regulations have pushed industries in Japan to adopt environmentally friendly practices, including the use of low-VOC (volatile organic compound) and bio-based solvents. For instance, Japan’s Ministry of the Environment has reported a significant reduction in VOC emissions due to stricter regulations and industry-wide adoption of green solvents. The Japanese government has implemented several policies to reduce industrial emissions and encourage green chemistry practices. In response, solvent manufacturers are investing in the development of sustainable alternatives that meet performance standards while reducing ecological impact. Bio-based solvents, derived from renewable resources such as soy, corn, and citrus, are gaining traction due to their biodegradability and low toxicity. This shift aligns with global sustainability trends and positions Japan as a leader in clean industrial practices.

Technological Advancements and Product Innovation

Innovation in chemical engineering and solvent formulation is a key driver boosting the Japanese industrial solvents market. Local chemical manufacturers, supported by strong R&D infrastructures, are focusing on the development of solvents with enhanced properties—such as improved solvency power, reduced flammability, and better compatibility with new materials. These advancements are enabling end-users to adopt more efficient and safer production processes. Furthermore, the emergence of nanotechnology and advanced manufacturing techniques in electronics and precision engineering has created new demands for specialized solvents. The ability to tailor solvent formulations for specific applications enhances operational efficiency and reduces waste, thereby supporting the broader goals of productivity and environmental compliance.

Infrastructure Development and Construction Activities

Japan’s ongoing investment in infrastructure development, including urban renewal projects and industrial facility upgrades, is another significant driver of solvent demand. Industrial solvents are essential components in paints, coatings, adhesives, and sealants, all of which are critical to construction and renovation processes. With government initiatives focused on earthquake-resistant infrastructure and sustainable urban planning, construction activities are projected to remain strong over the forecast period. Additionally, preparations for global events and long-term urban development plans continue to stimulate the construction and real estate sectors, further driving demand for industrial solvents in related applications.

Market Trends

Transition Toward Bio-Based and Green Solvents

A significant trend shaping the Japanese industrial solvents market is the accelerating shift toward bio-based and environmentally friendly solvents. With increasing pressure to reduce carbon emissions and comply with domestic and international environmental regulations, industries in Japan are actively replacing traditional petroleum-based solvents with sustainable alternatives. For instance, Japan’s Ministry of the Environment reported that VOC emissions from solvent use reached 850,000 tons in 2022, prompting stricter regulations and a push toward bio-based alternatives. Bio-based solvents, derived from renewable raw materials such as plant oils, sugarcane, and agricultural waste, offer lower toxicity and biodegradability, making them suitable for a wide range of industrial applications. Japanese chemical companies are investing in research and innovation to improve the efficiency and cost-effectiveness of green solvent solutions, reflecting a broader national commitment to environmental stewardship.

Rising Demand from Electronics and Semiconductor Industries

Japan’s globally recognized electronics and semiconductor sectors continue to drive demand for high-purity industrial solvents. As the country expands its capabilities in advanced technologies such as 5G, electric vehicles, and AI-enabled devices, there is growing demand for ultra-clean solvents used in semiconductor fabrication, display manufacturing, and electronic component cleaning. For instance, Japan’s Ministry of Economy, Trade and Industry (METI) has outlined a semiconductor revitalization strategy, emphasizing domestic production of advanced logic semiconductors and specialty solvents for industrial applications. The precision required in these processes demands solvents with exceptional purity and stability, which has encouraged manufacturers to develop specialized formulations. This trend is expected to remain strong, particularly as Japan invests in strengthening its semiconductor supply chain and reducing dependence on imports for critical materials.

Growth of Water-Based Solvent Solutions

Another prevailing trend is the increasing preference for water-based solvents across various end-use sectors. Water-based solvents are viewed as safer and more sustainable than traditional organic solvents due to their lower VOC content and reduced health risks. Industries such as paints and coatings, adhesives, and industrial cleaning are transitioning toward water-based formulations to comply with safety regulations and enhance worker protection. This trend is particularly evident in Japan’s construction and automotive sectors, where manufacturers are seeking high-performance alternatives that offer both environmental compliance and cost efficiency. The shift is also supported by government incentives promoting the use of non-toxic, low-emission chemicals.

Integration of Digital Technologies in Solvent Production

Japanese solvent manufacturers are increasingly incorporating digital technologies such as automation, real-time monitoring, and data analytics into their production processes. These advancements enable greater precision, consistent quality, and improved safety during solvent formulation and handling. Smart manufacturing practices also contribute to energy efficiency and waste reduction—aligning with Japan’s broader goals of digital transformation and industrial decarbonization. By leveraging Industry 4.0 technologies, companies can accelerate innovation cycles, respond more effectively to changing market needs, and maintain competitiveness in a dynamic global market. This digital integration is setting a new standard in the production and application of industrial solvents in Japan.

Market Challenges Analysis

Stringent Environmental Regulations and Compliance Costs

One of the most pressing challenges facing the Japan industrial solvents market is the increasingly stringent regulatory environment aimed at reducing environmental and health hazards. The Japanese government, along with international frameworks such as REACH and the Globally Harmonized System (GHS), has imposed strict limits on the use of volatile organic compounds (VOCs), hazardous air pollutants, and toxic substances in industrial processes. While these regulations promote sustainability and worker safety, they also place a significant burden on solvent manufacturers, who must invest heavily in reformulating products to meet compliance standards. The development of low-VOC and bio-based solvents often involves costly research, testing, and certification processes, which can increase production costs and affect profit margins. Additionally, frequent regulatory updates and the need for continuous monitoring create operational complexities, especially for small and medium-sized enterprises.

Volatile Raw Material Prices and Supply Chain Disruptions

Fluctuating prices of key raw materials, many of which are petroleum-derived, pose a consistent challenge to the stability and profitability of Japan’s industrial solvents market. Global crude oil price volatility directly impacts the cost of solvent production, leading to unpredictability in pricing strategies for manufacturers and downstream users. For instance, Japan’s Economic Security Promotion Act has introduced measures to stabilize critical raw material supply chains, aiming to reduce reliance on imports and strengthen domestic procurement. Furthermore, Japan’s high dependence on imported raw materials makes the market vulnerable to global supply chain disruptions—such as geopolitical tensions, trade restrictions, and logistical bottlenecks. Recent events, including the COVID-19 pandemic and disruptions in semiconductor and chemical supply chains, have highlighted the fragility of the import-reliant production model. These disruptions not only delay manufacturing timelines but also increase input costs, affecting the ability of domestic producers to maintain steady output and meet rising demand. Building resilient supply chains and diversifying raw material sources remain critical yet challenging tasks for the industry.

Market Opportunities

Japan’s industrial solvents market presents considerable opportunities driven by the country’s strong commitment to innovation and sustainability. As industries move toward greener and safer production processes, there is growing demand for next-generation solvents that meet environmental standards without compromising performance. This shift opens up a promising space for bio-based, water-based, and low-VOC solvents, which are becoming essential across sectors such as automotive, electronics, and construction. Domestic chemical manufacturers have the opportunity to capitalize on this trend by developing proprietary solvent technologies that cater to evolving regulatory and industrial requirements. Furthermore, Japan’s active role in global environmental initiatives and green chemistry provides additional momentum for companies aiming to position themselves as leaders in sustainable solvent solutions.

Another area of opportunity lies in the increasing demand from advanced manufacturing sectors, particularly electronics, semiconductors, and precision machinery. These industries require high-purity and specialty solvents for applications involving microfabrication, cleaning, and surface preparation. With Japan investing heavily in semiconductor self-sufficiency and digital infrastructure, the need for highly specialized solvents is expected to rise sharply. Additionally, the adoption of Industry 4.0 technologies within manufacturing processes creates space for customized and automated solvent systems, which enhance operational efficiency and quality control. Export-oriented growth is also viable, as Japanese solvent technologies can meet the high-performance needs of emerging markets across Asia-Pacific. Overall, innovation, customization, and sustainable development will be the key levers for unlocking future growth in the Japan industrial solvents market.

Market Segmentation Analysis:

By Type:

In the Japan industrial solvents market, alcohols represent the largest segment by type, owing to their wide applicability in cleaning, degreasing, and as intermediates in chemical synthesis. Ethanol and isopropanol are especially prominent due to their effective solvency and favorable regulatory acceptance. Ketones, particularly acetone and methyl ethyl ketone (MEK), are also in strong demand due to their use in paints, coatings, and adhesives. Their fast evaporation rates and strong solvency properties make them vital in automotive and electronics manufacturing. Esters, known for their high solvency and low odor, are gaining traction in printing inks and coatings applications, especially where environmental considerations are prioritized. Glycols, including ethylene glycol and propylene glycol, are essential in applications requiring high boiling points and solvency in water-based formulations. The “Others” category, which includes hydrocarbons and chlorinated solvents, continues to serve niche industrial needs, although usage is gradually declining due to environmental restrictions. This segmental diversity enables the market to cater to highly specialized industrial demands.

By Application:

Among application segments, paints and coatings account for the largest share of solvent consumption in Japan, driven by the steady demand in automotive, construction, and industrial maintenance sectors. Solvents ensure smooth application and desired finish, making them essential in high-performance formulations. The pharmaceuticals sector also represents a growing segment, where solvents are critical in drug formulation, extraction, and purification processes. The emphasis on high-purity and compliant solvents is particularly strong here due to strict regulatory standards. Printing inks utilize fast-evaporating solvents like ketones and esters to enhance print quality and drying time, especially in packaging and commercial printing. Adhesives and sealants benefit from solvents in bonding and surface preparation, where performance and durability are key. The “Others” category includes applications in cleaning agents, agrochemicals, and electronics. These diverse end-use industries ensure consistent demand for both conventional and specialty solvents, reinforcing the market’s resilience and adaptability in Japan’s industrial ecosystem.

Segments:

Based on Type:

Alcohols
Ketones
Esters
Glycols
Others

Based on Application:

Paints & Coatings
Pharmaceuticals
Printing Inks
Adhesives & Sealants
Others

Based on End- Use:

Construction
Automotive
Electronics
Agriculture
Others

Based on Source:

Petrochemical-Based Solvents
Bio-Based Solvents

Based on the Geography:

Kanto Region
Kansai Region
Chubu Region
Kyushu Region
Other Regions

Regional Analysis

Kanto Region

The Kanto Region holds the largest share of the Japan industrial solvents market, accounting for approximately 38% of total market revenue. As Japan’s most populous and industrially concentrated area, Kanto includes Tokyo and Yokohama—two key economic hubs with high demand for industrial chemicals. The region’s dominance is supported by its extensive base of automotive, electronics, and pharmaceutical manufacturers, which are major consumers of solvents for production and maintenance processes. Additionally, the presence of major research and development centers, as well as established transportation and export infrastructure, further enhances Kanto’s strategic position. Solvent demand in Kanto is also driven by construction and renovation projects, especially in urban areas, contributing to continued growth in applications such as paints, coatings, adhesives, and cleaning agents.

Kansai Region

The Kansai Region ranks second in market share, representing around 26% of the national industrial solvents market. Home to Osaka, Kyoto, and Kobe, Kansai is a vital manufacturing and chemical processing zone. The region’s industrial base includes heavy machinery, pharmaceuticals, and fine chemicals, which drive consistent demand for solvents across multiple applications. Kansai’s solvent usage is also supported by its robust printing and packaging industries, which utilize ketones, esters, and alcohols in inks and coatings. Government support for sustainable industrial practices in the region has accelerated the shift toward eco-friendly and water-based solvents, fostering innovation among local chemical producers. Kansai’s proximity to major ports also facilitates solvent exports and raw material imports, enhancing supply chain efficiency.

Chubu Region

The Chubu Region contributes approximately 18% to Japan’s industrial solvents market, with its solvent demand closely tied to its strong automotive and machinery manufacturing sectors. Centered around Nagoya, Chubu houses the production bases of several major automotive OEMs and parts suppliers. These industries require a steady supply of solvents for cleaning, degreasing, painting, and sealing applications. Additionally, the region’s growing electronics sector benefits from specialty solvents used in microfabrication and precision cleaning. Chubu’s increasing investment in renewable energy and smart manufacturing is creating new opportunities for high-performance and sustainable solvent technologies, contributing to the region’s steady market share.

Kyushu Region

The Kyushu Region accounts for approximately 10% of the market and is emerging as a dynamic contributor to Japan’s industrial solvent demand. With a growing presence of semiconductor fabrication facilities and petrochemical industries, Kyushu has seen a rise in demand for high-purity and process-specific solvents. Regional development initiatives, including investment in tech parks and infrastructure upgrades, are further stimulating solvent applications in construction, electronics, and pharmaceuticals. Local governments are also encouraging eco-conscious industrial practices, prompting shifts toward green solvent alternatives. While smaller than Kanto or Kansai, Kyushu’s solvent market is growing steadily and is expected to expand in line with its industrial diversification.

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Key Player Analysis

Japan National Petroleum Corporation (CNPC)
Formosa Plastics Corporation
Reliance Industries Limited
Sinopec Group
Mitsubishi Chemical Holdings Corporation
Sumitomo Chemical Co., Ltd.
Toray Industries, Inc.
LG Chem Ltd.
Tata Chemicals Ltd.
SK Innovation Co., Ltd.

Competitive Analysis

The Japan industrial solvents market is highly competitive, with both domestic and international players actively vying for market share. Leading companies include Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co., Ltd., Toray Industries, Inc., Formosa Plastics Corporation, Reliance Industries Limited, Sinopec Group, LG Chem Ltd., Tata Chemicals Ltd., and SK Innovation Co., Ltd. These companies have established strong market positions through their broad product portfolios, technological expertise, and extensive distribution networks. The shift towards eco-friendly and bio-based solvents has led to increased competition, as businesses invest heavily in research and development to meet stringent environmental regulations. This has resulted in the development of high-performance solvents that align with the growing demand for low-VOC and water-based solutions. Additionally, companies are exploring new applications for solvents in emerging sectors such as electronics, pharmaceuticals, and construction. The automotive and manufacturing industries continue to be significant contributors to the demand for industrial solvents, fueling competition among players to deliver cost-effective and efficient solutions. Strategic partnerships, acquisitions, and joint ventures are commonly pursued to expand market reach and enhance product portfolios. As the market evolves, companies are also focusing on optimizing their supply chains and improving production efficiency to mitigate the impact of raw material price fluctuations and ensure consistent product availability.

Recent Developments

In April 2025, Eastman announced off-list price increases for several EOD (Ethylene Oxide Derivatives) solvents, including Eastman™ DB Solvent, effective April 7, 2025, reflecting ongoing cost and market pressures.
In March 2025, BASF reported generating approximately €11 billion in 2024 sales from products launched in the past five years, driven by R&D focused on sustainability, biodegradable materials, and digital transformation. The company filed 1,159 new patents in 2024, with 45% targeting sustainability. R&D investment in 2024 was €2.1 billion, with a similar budget planned for 2025.
In March and April 2025, Shell is restructuring its global chemicals business to boost profitability and reduce capital spending by 2030. This includes exploring strategic partnerships in the U.S., potentially closing some European assets, and selling existing assets like the Singapore refinery and chemical complex. The company aims to streamline operations, focus on core businesses, and improve returns for shareholders.
In March 2025, BASF is expanding its production capacity for aminic antioxidants at its Puebla, Mexico site, targeting the growing demand for long-life lubricants. The project is set for completion in 2026.
In March 2025, ExxonMobil announced a $100 million upgrade to its Baton Rouge, Louisiana plant to produce ultra-high-purity (99.999%) isopropyl alcohol (IPA) for the semiconductor industry by 2027.
In March 2024, Dow announced plans to invest in new ethylene derivatives capacity-including carbonate solvents-on the U.S. Gulf Coast. This investment, supported by the U.S. Department of Energy, aims to supply carbonate solvents for lithium-ion batteries, supporting the domestic EV and energy storage market. The facility will capture over 90% of CO₂ from ethylene oxide production, aligning with sustainability goals.

Market Concentration & Characteristics

The Japan industrial solvents market exhibits moderate concentration, with a mix of large multinational corporations and established domestic players leading the sector. Key players, including Mitsubishi Chemical Holdings, Sumitomo Chemical Co., Ltd., and Toray Industries, dominate the market due to their extensive product portfolios, strong distribution networks, and advanced research and development capabilities. The market is characterized by high product differentiation, with companies offering a range of solvents tailored to various applications such as automotive, electronics, pharmaceuticals, and coatings. Innovation in eco-friendly, low-VOC, and bio-based solvents is becoming a key competitive differentiator, as companies align their offerings with stringent environmental regulations and sustainability goals. While larger players capture the majority of the market share, the presence of smaller, specialized firms is notable, as they cater to niche applications and offer innovative solutions. Overall, the market is evolving towards a balance of large-scale industrial production and growing demand for sustainable, customized products.

Report Coverage

The research report offers an in-depth analysis based on Type, Application, End-Use, Source and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The demand for bio-based and eco-friendly solvents is expected to increase as industries adopt more sustainable practices.
Stricter environmental regulations will drive the development of low-VOC and water-based solvent solutions.
Technological advancements in solvent formulations will enable the creation of high-performance, specialized products for industries like electronics and pharmaceuticals.
Japan’s strong manufacturing sectors, particularly automotive and electronics, will continue to fuel solvent demand.
The shift toward digital and automated manufacturing processes will create new opportunities for solvent applications in industrial cleaning and precision work.
There will be increasing investments in R&D by key players to develop solvent solutions that meet both performance and environmental requirements.
Rising awareness about worker safety and environmental impact will promote the use of safer and less hazardous solvent alternatives.
Solvent usage will grow in emerging sectors such as renewable energy, advanced materials, and nanotechnology.
Strategic partnerships and collaborations between global and domestic companies will enhance market expansion and product innovation.
The market will see a greater emphasis on supply chain resilience, as companies adapt to global material price fluctuations and potential disruptions.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Industrial Solvents Market Snapshot 21

2.1.1. Japan Industrial Solvents Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : INDUSTRIAL SOLVENTS MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.2.1. Rising demand for eco-friendly and bio-based solvents 25

4.2.2. Increasing use of solvents in the automotive and construction industries 26

4.3. Market Restraints 27

4.3.1. Stringent environmental regulations regarding the use of volatile organic compounds (VOCs) 27

4.4. Market Opportunities 28

4.4.1. Innovations in green chemistry to develop sustainable solvent alternatives 28

4.5. Porter’s Five Forces Analysis 29

4.6. Buying Criteria 30

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 31

5.1. Import Analysis by Japan 31

5.1.1. Japan Industrial Solvents Market Import Volume/Revenue, By Japan, 2018 – 2023 31

5.2. Export Analysis by Japan 32

5.2.1. Japan Industrial Solvents Market Export Volume/Revenue, By Japan, 2018 – 2023 32

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by Japan 33

6.1.1. Japan Industrial Solvents Market Demand Volume/Revenue, By Japan, 2018 – 2023 33

6.2. Supply Analysis by Japan 34

6.2.1. Japan Industrial Solvents Market Supply Volume/Revenue, By Japan, 2018 – 2023 34

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by Japan 35

7.1.1. Japan Industrial Solvents Market Production Volume/Revenue, By Japan, 2018 – 2023 35

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

8.1.1. Japan Industrial Solvents Market Price, By Type, 2018 – 2023 36

8.1.2. Japan Type Market Price, By Type, 2018 – 2023 36

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 37

9.1. Key Raw Materials and Suppliers 37

9.2. Key Raw Materials Price Trend 37

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 38

10.1. Manufacturing Cost Analysis 38

10.2. Manufacturing Process 38

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 39

11.1. Company Market Share Analysis – 2023 39

11.2. Value Chain Analysis 39

11.2.1. Japan Industrial Solvents Market: Company Market Share, by Volume, 2023 40

11.2.2. Japan Industrial Solvents Market: Company Market Share, by Revenue, 2023 41

11.2.3. Japan Industrial Solvents Market: Top 6 Company Market Share, by Revenue, 2023 41

11.2.4. Japan Industrial Solvents Market: Top 3 Company Market Share, by Revenue, 2023 42

11.3. Japan Industrial Solvents Market Company Volume Market Share, 2023 43

11.4. Japan Industrial Solvents Market Company Revenue Market Share, 2023 44

11.5. Company Assessment Metrics, 2023 44

11.5.1. Stars 44

11.5.2. Emerging Leaders 44

11.5.3. Pervasive Players 44

11.5.4. Participants 44

11.6. Start-ups /SMEs Assessment Metrics, 2023 44

11.6.1. Progressive Companies 44

11.6.2. Responsive Companies 45

11.6.3. Dynamic Companies 45

11.6.4. Starting Blocks 45

11.7. Strategic Developments 46

11.7.1. Acquisitions & Mergers 46

New Product Launch 46

Japan Expansion 46

11.8. Key Players Product Matrix 47

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 48

12.1. PESTEL 48

12.1.1. Political Factors 48

12.1.2. Economic Factors 48

12.1.3. Social Factors 48

12.1.4. Technological Factors 48

12.1.5. Environmental Factors 48

12.1.6. Legal Factors 48

12.2. Adjacent Market Analysis 48

CHAPTER NO. 13 : INDUSTRIAL SOLVENTS MARKET – BY TYPE SEGMENT ANALYSIS 49

13.1. Industrial Solvents Market Overview, by Type Segment 49

13.1.1. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 50

13.1.2. Industrial Solvents Market Attractiveness Analysis, By Type 51

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 51

13.1.4. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

13.2. Alcohols 53

13.3. Ketones 54

13.4. Esters 55

13.5. Glycols 56

13.6. Others 57

CHAPTER NO. 14 : INDUSTRIAL SOLVENTS MARKET – BY APPLICATION SEGMENT ANALYSIS 58

14.1. Industrial Solvents Market Overview, by Application Segment 58

14.1.1. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 59

14.1.2. Industrial Solvents Market Attractiveness Analysis, By Application 60

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 60

14.1.4. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

14.2. Paints & Coatings 62

14.3. Pharmaceuticals 63

14.4. Printing Inks 64

14.5. Adhesives & Sealants 65

14.6. Others 66

CHAPTER NO. 15 : INDUSTRIAL SOLVENTS MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 67

15.1. Industrial Solvents Market Overview, by End-Use Industry Segment 67

15.1.1. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 68

15.1.2. Industrial Solvents Market Attractiveness Analysis, By End-Use Industry 69

15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 69

15.1.4. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 70

15.2. Construction 71

15.3. Automotive 72

15.4. Electronics 73

15.5. Agriculture 74

15.6. Others 75

CHAPTER NO. 16 : INDUSTRIAL SOLVENTS MARKET – BY SOURCE SEGMENT ANALYSIS 76

16.1. Industrial Solvents Market Overview, by Source Segment 76

16.1.1. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 77

16.1.2. Industrial Solvents Market Attractiveness Analysis, By Source 78

16.1.3. Incremental Revenue Growth Opportunity, by Source, 2024 – 2032 78

16.1.4. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 79

16.2. Petrochemical-Based Solvents 80

16.3. Bio-Based Solvents 81

CHAPTER NO. 17 : INDUSTRIAL SOLVENTS MARKET – JAPAN ANALYSIS 82

17.1. Type 82

17.1.1. Japan Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 82

17.2. Japan Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 82

17.3. Application 83

17.3.1. Japan Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 83

17.3.2. Japan Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 83

17.4. End-Use Industry 84

17.4.1. Japan Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 84

17.4.2. Japan Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 84

17.5. Source 85

17.5.1. Japan Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 85

17.5.2. Japan Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 85

CHAPTER NO. 18 : COMPANY PROFILES 86

18.1. Japan National Petroleum Corporation (CNPC) 86

18.1.1. Company Overview 86

18.1.2. Product Portfolio 86

18.1.3. Swot Analysis 86

18.1.4. Business Strategy 87

18.1.5. Financial Overview 87

18.2. Formosa Plastics Corporation 88

18.3. Reliance Industries Limited 88

18.4. Sinopec Group 88

18.5. Mitsubishi Chemical Holdings Corporation 88

18.6. Sumitomo Chemical Co., Ltd. 88

18.7. Toray Industries, Inc. 88

18.8. LG Chem Ltd. 88

18.9. Tata Chemicals Ltd. 88

18.10. SK Innovation Co., Ltd. 88

List of Figures

FIG NO. 1. Japan Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 23

FIG NO. 2. Porter’s Five Forces Analysis for Japan Industrial Solvents Market 30

FIG NO. 3. Japan Industrial Solvents Market Import Volume/Revenue, By Japan, 2018 – 2023 32

FIG NO. 4. Japan Industrial Solvents Market Export Volume/Revenue, By Japan, 2018 – 2023 33

FIG NO. 5. Japan Industrial Solvents Market Demand Volume/Revenue, By Japan, 2018 – 2023 34

FIG NO. 6. Japan Industrial Solvents Market Supply Volume/Revenue, By Japan, 2018 – 2023 35

FIG NO. 7. Japan Industrial Solvents Market Production Volume/Revenue, By Japan, 2018 – 2023 36

FIG NO. 8. Japan Industrial Solvents Market Price, By Type, 2018 – 2023 37

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 38

FIG NO. 10. Manufacturing Cost Analysis 39

FIG NO. 11. Manufacturing Process 39

FIG NO. 12. Value Chain Analysis for Japan Industrial Solvents Market 40

FIG NO. 13. Company Share Analysis, 2023 41

FIG NO. 14. Company Share Analysis, 2023 42

FIG NO. 15. Company Share Analysis, 2023 42

FIG NO. 16. Company Share Analysis, 2023 43

FIG NO. 17. Industrial Solvents Market – Company Volume Market Share, 2023 44

FIG NO. 18. Industrial Solvents Market – Company Revenue Market Share, 2023 45

FIG NO. 19. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 51

FIG NO. 20. Market Attractiveness Analysis, By Type 52

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 52

FIG NO. 22. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 53

FIG NO. 23. Japan Industrial Solvents Market for Alcohols, Revenue (USD Million) 2018 – 2032 54

FIG NO. 24. Japan Industrial Solvents Market for Ketones, Revenue (USD Million) 2018 – 2032 55

FIG NO. 25. Japan Industrial Solvents Market for Esters, Revenue (USD Million) 2018 – 2032 56

FIG NO. 26. Japan Industrial Solvents Market for Glycols, Revenue (USD Million) 2018 – 2032 57

FIG NO. 27. Japan Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 58

FIG NO. 28. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 60

FIG NO. 29. Market Attractiveness Analysis, By Application 61

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 61

FIG NO. 31. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

FIG NO. 32. Japan Industrial Solvents Market for Paints & Coatings, Revenue (USD Million) 2018 – 2032 63

FIG NO. 33. Japan Industrial Solvents Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 64

FIG NO. 34. Japan Industrial Solvents Market for Printing Inks, Revenue (USD Million) 2018 – 2032 65

FIG NO. 35. Japan Industrial Solvents Market for Adhesives & Sealants, Revenue (USD Million) 2018 – 2032 66

FIG NO. 36. Japan Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 67

FIG NO. 37. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 69

FIG NO. 38. Market Attractiveness Analysis, By End-Use Industry 70

FIG NO. 39. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 70

FIG NO. 40. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 71

FIG NO. 41. Japan Industrial Solvents Market for Construction, Revenue (USD Million) 2018 – 2032 72

FIG NO. 42. Japan Industrial Solvents Market for Automotive, Revenue (USD Million) 2018 – 2032 73

FIG NO. 43. Japan Industrial Solvents Market for Electronics, Revenue (USD Million) 2018 – 2032 74

FIG NO. 44. Japan Industrial Solvents Market for Agriculture, Revenue (USD Million) 2018 – 2032 75

FIG NO. 45. Japan Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 76

FIG NO. 46. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 78

FIG NO. 47. Market Attractiveness Analysis, By Source 79

FIG NO. 48. Incremental Revenue Growth Opportunity by Source, 2024 – 2032 79

FIG NO. 49. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 80

FIG NO. 50. Japan Industrial Solvents Market for Petrochemical-Based Solvents, Revenue (USD Million) 2018 – 2032 81

FIG NO. 51. Japan Industrial Solvents Market for Bio-Based Solvents, Revenue (USD Million) 2018 – 2032 82

List of Tables

TABLE NO. 1. : Japan Industrial Solvents Market: Snapshot 22

TABLE NO. 2. : Drivers for the Industrial Solvents Market: Impact Analysis 26

TABLE NO. 3. : Restraints for the Industrial Solvents Market: Impact Analysis 28

TABLE NO. 4. : Japan Industrial Solvents Market Revenue, By Type, 2018 – 2023 37

TABLE NO. 5. : Key Raw Materials & Suppliers 38

TABLE NO. 6. : Japan Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 83

TABLE NO. 7. : Japan Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 83

TABLE NO. 8. : Japan Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 84

TABLE NO. 9. : Japan Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 84

TABLE NO. 10. : Japan Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 85

TABLE NO. 11. : Japan Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 85

TABLE NO. 12. : Japan Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 86

TABLE NO. 13. : Japan Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 86

Frequently Asked Questions

What is the current size of the Japan Industrial Solvents?

The Japan Industrial Solvents market was valued at USD 2,134.89 million in 2024.

What factors are driving the growth of the Japan Industrial Solvents?

Growth is driven by the expansion of manufacturing sectors, demand for eco-friendly solvents, and technological innovations.

What are some challenges faced by the Japan Industrial Solvents?

Challenges include stringent environmental regulations and volatility in raw material prices.

Who are the major players in the Japan Industrial Solvents?

Major players include Mitsubishi Chemical Holdings, Sumitomo Chemical, Toray Industries, and Formosa Plastics Corporation.

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