contents – · from each country, uae and qatar, increased by 16% from the previous year to 5,713...

The 40th Asia Petrochemical Industry Conference 2019

16-17 May / Taipei, Taiwan

– Contents –● Report on the Japan’s Petrochemical Industry…..1

● Report by Product1. General Matters & Raw Materials ……..….....5 2. Polyolefins ………………………………………..13 3. Styrenics …………………………………...……..17 4. PVC & VCM …………………………..………...21 5. Synthetic Rubbers ………………….…………..25 6. Synthetic Fiber Raw Materials ………..……..28 7. Chemicals ……………………………….………..35

● Petrochemical Industry of Japan ………………….41

Report on the Japan’s Petrochemical Industry

1

The Status of Japan’s Petrochemical Industry in 2018

1. Current situation and future prospects of the Japanese economy1) The real GDP growth rate in 2018 resulted in +0.8% over the previous year. It was lower than

that of +1.9% in 2017 and did not reach the level forecasted at the beginning of year. Whencompared with 2017, the growth rate of exports fell sharply down from +6.8% to +3.1%, andpersonal consumption also slowed down from +1.1% to +0.4%. Furthermore, private housinginvestment (+2.1% to ▲5.7%) and public investment (+0.7% to ▲3.2%) turned out to benegative. The main cause of the slowdown was natural disasters, which reduced the growth inexports, personal consumption, and inbound tourism consumption. Nevertheless, the Japaneseeconomy still looks to be sustaining the momentum of the expansion, recording its longest periodof recovery after the World War II.

2) In 2019, the Japanese economy may be affected by the slowdown in the global economy.However, domestic demand such as personal consumption and capital investment is expected tobe steady, hence the economic growth rate is expected to maintain the level of +0.8%, whichequals to the potential growth rate of Japanese economy. Although the consumption tax will beraised from 8% to 10% as of October 2019 and it may lead to some hesitation in personalconsumption, it is expected that the consumption tax increase may not be a major negative factor,because several countermeasures, such as (1) public investment planned to be increasedsignificantly and (2) various subsidies to support personal consumption, are planned by thegovernment. The investment on the infrastructure for Tokyo Olympics will be continuing into2020, so this will also be a positive factor. However, it is necessary to monitor the U.S.-Chinatrade issue which has been causing a sense of stagnation throughout the world, as well as thepossibility of the increase in labor costs arising from the ongoing labor shortage.

Japan’s major economic indicators Unit 2017 2018 Q1 Q2 Q3 Q4

Real GDP growth rate 1) % +1.9 +0.8 -0.4 +1.9 -2.4 +1.9

Industrial production index 2) 2010=100 103.1 104.1 103.3 104.5 103.1 105.1

Four-wheel car production 3) 1,000 cars 9,691 9,729 2,535 2,325 2,306 2,563

Housing starts 4) 1,000 houses 965 942 205 245 246 246

Exchange rate 5) JPY/US$ 112.2 110.4 108.3 109.1 111.5 112.9

Crude oil processing 6) 1,000 KL 186,786 177,771 47,082 41,248 45,372 44,068

Sources:

1) Cabinet Office: Quarterly figures for 2017 are seasonally adjusted, in comparison with the previous term (annual rate).

2) Ministry of Economy, Trade and Industry (METI): seasonally adjusted

3) Japan Automobile Manufacturers Association

4) Ministry of Land, Infrastructure, Transport and Tourism: Quarterly figures for 2017 are before seasonal adjustment.

5) Bank of Tokyo-Mitsubishi UFJ (TTM, yearly average)

6) METI

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2. Current situation of the petrochemical industry in Japan1) Japan's ethylene production in 2018 was 6,157 million tons, which is ▲5.7% over the previous

year, however, the averaged operating rate of crackers remained as high as 96.3%. The numberof the plants which conducted the planned shut-down maintenance in 2018 was exceptionallyhigh, thus resulted in 0.5 points decrease in the operating rate over the previous year. Theoperating rate has been exceeding 95% for 3 consecutive years, because of the mixed factorssuch as the reductions in domestic ethylene production capacity implemented by 2016, firmdomestic demand based on the stable Japanese economy, and the continued growth in thepetrochemical market in Asia as a whole.

Total production volume of five major plastics decreased by 4.5% to 7,016 thousand tons fromthe previous year, mainly due to the increase in the imports of PE and PP. Domestic demand asethylene-equivalent decreased by 3.0% to 4,905 thousand tons.

Japan’s ethylene production and ethylene-equivalent balance Unit 2017 2018 Q1 Q2 Q3 Q4

Production KT 6,530 6,157 1,601 1,392 1,489 1,674

Domestic demand (ethylene equivalent) KT 5,057 4,905 1,267 1,122 1,267 1,249

Export (ethylene equivalent) KT 2,321 2,134 564 498 446 626

Import (ethylene equivalent) KT 848 883 231 228 224 201

Source: METI

Japan’s production of major petrochemicals Unit LDPE HDPE PP PS PVC (Five

plastics total)

SM EG AN

2016 KT 1,540 825 2,466 640 1,651 7,122 1,948 632 420

2017 KT 1,593 885 2,506 656 1,706 7,345 2,085 715 435

2018 KT 1,443 857 2,358 668 1,690 7,016 2,007 642 477

Source: METI

2) In 2019, there will be no significant change in operating rates, supported by strong domestic andAsian demand. However, because many shale gas/oil-based crackers in the U.S. are planned tostart its operations, we need to carefully monitor the impact of the outflow from the U.S. on thesupply-demand balance in Asia. The start-up of new crackers in China and Korea could also bea negative factor against high operating rates in Japan.

3. Tasks for the petrochemical industry in Japan1) Optimizing production capacity and shifting to high-value-added areas

In general, production capacities of the crackers as well as the commodity chemical products arealready exceeding domestic demand. As the population in Japan has already started decreasingand such trend may continue, the domestic demand is also expected to decrease into the future.On the other hand, many capacity expansions for such commodity chemical products are plannedin the main exporting countries for the Japanese petrochemical industry. In order to catch up withsuch possible changes in the future, the following measures are suggested.

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a) Getting ourselves ready for adjusting the supply/demand imbalance (where applicable)b) Acceleration of the shifts from the commodities to the high-value-added productsc) Creation of a new demand by developing the high-performance product lines

2) Increasing cost competitivenessIn North America, huge expansions in the production capacities for the shale gas/oil-derivedpetrochemical products are ongoing, which is far beyond the demand in North America. As theindustry is going to face fierce global competition due to the possible direct/indirect influx ofsuch petrochemical products from North America into Asian market, it is suggested that theindustry improves its cost competitiveness more than ever. While there will be some differenceby company, the followings will be the major steps to be taken to improve its costcompetitiveness:

a) Vertical alliance with oil refineries, and horizontal alliance with related firms within thecomplex (on a complex-by-complex basis)

b) Development of new products from unused cracker fractions and its effective usec) Replacement of the aged derivative plants to achieve higher efficiency with lower operation

costd) Cost reductions through the pursuit of higher energy efficiency

3) Measures to maintain the safety and the environmentThe Japanese petrochemical industry is putting high priority on safety and stable operations.Because the petrochemical products are used by broad downstream industries, single productionproblem tends to affect the broad area of its supply chain.In order to enhance the safety level, the industry is taking various measures such as (1) to raisesafety consciousness at the level of employees as well as to strengthen the commitment of themanagement to the safety, (2) to foster and deepen safety cultures, and (3) to introduce newtechnologies such as Internet of Things (IoT) and Artificial Intelligence (AI).

4) Marine plastic waste and Global warming issuesChemical industry is always required to contribute towards global warming and environmentalissues. Measures against marine pollution caused by waste plastics and micro-plastics are alreadythe major concerns across the world.To achieve the sustainable society into the future, Japanese chemical industry will communicateand cooperate closely with the related policy makers so that the appropriate measures are activelytaken, and that Japan makes a good contribution to the global activities for resolving the marineplastic waste issues.

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1. General Matters & Raw Materials

5

Item: Naphtha, LPG, Heavy Condensate and Gas Oil

1. Supply and Demand Balance (Unit: 1, KKL; 1,000 MT for LPG)

2016 2017 2018

Naphtha Demand For ethylene

For BTX

28,813

19,397

30,307

19,689

27,837

19,822

Total demand (1) 48,210 49,996 47,659

Supply Domestic For petrochemicals

For other products

19,934

68

18,758

32

16,415

29

Total 20,002 18,791 16,445

Import For petrochemicals 24,087 27,057 27,019

Total supply (2) 44,089 45,848 43,464

LPG Demand For ethylene 708 620 842

Heavy Condensate Demand For ethylene 113 277 224

Gas Oil Demand For ethylene 107 63 75 Sources: Chemical Industry Statistics by METI; Customs Clearance Statistics by MOF Note: The differences between (1) and (2) are due to the use of different sources.

2. Naphtha Import Quantities by Exporting Countries (Unit: 1,000KL)

Country 2016 2017 2018

United Arab Emirates 4,344 4,926 5,713

Qatar 4,282 4,138 5,408

Korea 3,593 2,993 3,528

Russia 1,921 2,363 1,926

India 2,509 3,389 1,884

Kuwait 2,233 2,847 1,884

Saudi Arabia 1,589 2,317 1,799

Bahrain 808 887 1,309

USA 258 545 1,041

Peru 239 184 378

Norway 449 230 299

Egypt 164 45 260

Others 1,698 2,193 1,591

Total 24,087 27,057 27,019

Source: Customs Clearance Statistics by MOF

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3. Market Trend in 2018 1) Demand for Naphtha

27,837 KKL of naphtha was consumed by Japanese ethylene producers in 2018. It fell by 8.1% from the previous year, because seven crackers out of twelve had turnaround in 2018. Naphtha demand for BTX production slightly increased to 19,822 KKL in 2018.

2) Domestic Naphtha Supply

Domestic naphtha supply for the petrochemicals sector in 2018 was 16,415 KKL, which was 12.5% lower than the previous year. It was about 38% of the total naphtha supply to the Japanese petrochemical sector. The main reason for decrease of domestic naphtha supply was lower crude throughput comparing to the previous year.

3) Imported Naphtha

27,019 KKL of naphtha was imported for petrochemical uses in 2018. It was almost the same as the previous year. About 41% of the total imported naphtha was supplied from UAE and Qatar. Imported amount from each country, UAE and Qatar, increased by 16% from the previous year to 5,713 KKL and by 31% to 5,408 KKL respectively.

4) LPG

LPG consumption for petrochemicals in 2018 was 842 KKT, up 36% from 2017 because of good economics.

5) Heavy Condensate

The consumption of heavy condensate decreased by 53 KKL from 2017 to 224 KKL. 6) Gas Oil

The consumption of gas oil in 2018 grew 12 KKL from the previous year to 75KKL.

4. Outlook for 2019 The global economy is slightly slowing down. However in Asia, the demand of petrochemicals will grow steadily. In Japan, basically, high operating rate of steam cracker Japan will continue. Domestic naphtha supply has been decreasing in Japan. Furthermore in 2019, there will be less turnaround of steam cracker compared to the last year, therefore imported naphtha will increase.

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Item: Olefins

1. Supply and Demand Balance (Unit: 1,000MT)

2016 2017 2018

Ethylene

Production 6,279 6,530 6,157

Export 702 701 589

Import 141 132 105

Propylene

Production 5,223 5,459 5,170

(From Cracker) (3,975) (4,162) (3,902)

(From FCC) (1,248) (1,297) (1,269)

Export 940 883 728

Import 111 154 165

Butadiene

Production 873 916 858

Export 34 27 19

Import 54 62 79 Source: Chemical Industry Statistics by METI, Trade Statistics by MOF

2. Market Trend in 2018 The produced volume of olefins in Japan in 2018 decreased from that in 2017 due mainly to the increase in numbers of naphtha crackers shut down for periodic maintenance or repairs from three in 2017 to seven in 2018. The average of operating rates of domestic crackers maintained above 96% as the same as the previous year. This high operating rate was a result of healthy demand for olefins in Asia including Japan. 1) Ethylene

The production volume of ethylene in 2018 was 6,157KT, a decrease of 6%, or 373KT, from 6,530KT in the previous year. This decrease was caused by an increase in the number of naphtha crackers subject to periodic maintenance from that in the previous year. The domestic ethylene equivalent demand in 2018 also decreased 3%, or 152KT, from that in 2017, to 4,905KT in 2018. On the other hand, in 2018, export of ethylene was 589KT and import of it was 105KT.

2) Propylene

The production volume of propylene in 2018 was 5,170KT, a decrease of 5%, or 289KT, from 5,459KT in the previous year. Propylene production from naphtha cracker decreased 260KT, and propylene production from FCC decreased 28KT slightly. Both of them were about 6% to 2% decrease from those of the previous year. The export volume of propylene in 2018 decreased 155KT from the previous year, and the import volume of propylene in 2018 increased 11KT from the previous year.

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3) Butadiene

The production volume of butadiene in 2018 was 858KT, a decrease of 6%, or 58KT, from the previous year. The export volume of butadiene decreased 8KT, to 19KT, and the import volume of butadiene increased 17KT, to 79KT, both from the previous year. The amount of domestic demand for butadiene decreased 33 KT from the previous year, to 918KT, due mainly to the decrease in domestic production volume of its derivatives.

3. Outlook for 2019 In 2019, ethylene short condition in Asia is expected to be maintained. On the other hand, several new crackers and expansions in the region are expected to come on stream. These new capacities and an inflow of polyethylene and ethylene monomer from shale-gas based ethane crackers in U.S. will have an impact on the Asian olefins market from second half of 2019. 4. Estimated Issues in the future Global demand for olefins is, in general, expected to continue increasing in proportion to the rate of global economic growth, though U.S. and China trade conflict might affect the global demand. On the supply side, new capacities will come on stream with some delays in U.S. and Asia, though there seems to be some slow down to build new coal-based ethylene producing plants in China due to strict environmental regulations. There are many plans announced in succession to newly establish large crackers in Asia centering in China following the favorable cracker margin of these days. Therefore, progress in these plans and changes in growth rate of the demand for olefins may negatively affect the operating rates of crackers in Japan due to deterioration in market conditions caused by an ease in supply-demand balance for olefins in Asia. Under these circumstances, Japanese petrochemical companies will continue strengthening competitiveness through various measures including shift from general purpose products to high-value-added products, and vertical integrations, thereby improving and stabilizing their profitability.

9

Item: Benzene, Toluene, Xylene

1. Supply and Demand Balance 1) Benzene

(Unit: 1,000MT)

2016 2017 2018

Supply

Production 4,073 4,379 4,013

Import 61 150 127

Total 4,134 4,529 4,140

Demand

Domestic 3,244 3,763 3,388

Export 888 751 767

Total 4,132 4,514 4,155

Capacity 5,722 5,741 5,556

Source: Chemical Industry Statistics by METI, Trade Statistics by MOF

2) Toluene (Unit: 1,000MT)

2016 2017 2018

Supply

Production 1,985 2,129 2,069

Import 8 4 19

Total 1,993 2,133 2,088

Demand

Domestic 1,377 1,469 1,390

Export 596 676 706

Total 1,973 2,145 2,096

Capacity 2,606 2,680 2,712


3) Xylene (Unit: 1,000MT)

2016 2017 2018

Supply

Production 6,703 6,779 6,759

Import 0 0 0

Total 6,703 6,779 6,759

Demand

Domestic 4,645 4,804 4,896

Export 1,999 1,953 1,865

Total 6,644 6,757 6,761

Capacity 8,844 8,803 8,842


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2. Market Trend in 2018 1) BTX production in Japan

As for 2018 Benzene, Toluene and Xylene production, all BTX production decreased. Benzene production decreased by 8% to 4,013KTA, Toluene production decreased by 3% to 2,069KTA and Xylene production decreased by 0.3% to 6,759KTA from previous year respectively. Total BTX production decreased by 3% to 12,841KTA compared with previous year.

2) BTX domestic demand ・Benzene

Benzene domestic demand decreased by10% to 3,388KTA compared with previous year. All major Benzene derivatives such as Styrene monomer, Phenol and Cumene production dipped from previous year. To be more specific, production volume of Styrene monomer which consist 47% of Benzene demand decreased by 4%, Phenol and Cumene which consist 27% of Benzene demand decreased by 3% compared with the previous year.

・Toluene

Toluene domestic demand decreased by 5% to 1,390KTA compared with previous year. The main factor of this reduction was less demand from TDP which consist about 50% of toluene demand. Even though demand for TDP decreased 10% from previous year, demands from all other applications remain the same level as previous year.

・Xylene

Xylene domestic demand increased by 2% to 4,896KTA compared with previous year. The main factor of increase was supported by isomerization demand. It consists 95% of xylene demand and it had increased by 2% compared with previous year.

・Total BTX domestic demand decreased by 4% to 9,674KTA compared with previous year.

3) BTX Export and Import Due to sluggish domestic demand, Benzene export quantity increased by 2% to 767KT, while import quantity decreased by 16% to 127KTA compared to the previous year.

Toluene export quantity increased by 4% to 706KT supported by firm inquiries from Asia market. Import quantity which is normally small amount has increased 372% (From 4KT to 19KT) compared to the previous year.

Xylene export quantity decreased by 5% to 1,865KTA. There was no import for three consecutive years.

3. Outlook for 2019 BTX demand in Japan is expected to be approximately same level as previous year 2018.

1) Benzene

Benzene domestic demand is expected to be decreased by 5% mainly due to the Benzene

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derivative Styrene Monomer plant maintenance. Phenol and Cumene domestic demand is expected to be decreased 12% due to rationalization of Cumene capacity. Cyclohexane and MDI demand will be stable. As a result, Benzene domestic demand will decrease by 5%. On the other hand, benzene export quantity will remain the same level as 2018 and demand of total Benzene demand is expected to be 96% compared with previous year 2018.

2) Toluene

Both domestic demand and export are expected to remain the same as last year. Total Toluene demand is expected to be 100% compared with previous year 2018.

3) Xylene

The domestic production of xylene is expected to increase by 2% due to less shutdown maintenance of isomerization plant and firm Para-Xylene demand in Asia. Xylene export quantity is expected to increase by 2% as well. Total xylene demand is expected to be 102 % (6,890KT) compared with previous year 2018.

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2. Polyolefins

13

Item: Polyolefins

1. Supply and Demand Balance Domestic demand: Including raw resins and finished products

Unit: 1,000MT, ( )･･･％ over previous year

2016 2017 2018 ’18 / ’17

(%)

LDPE

(including

L-LDPE,

EVA)

Supply

Production 1,744 1,770 1,610 -9

Import of Raw Material Resins 293 314 379 21

Import of Finished Products 398 416 432 4

Import Total 690 730 811 11

Demand

Domestic 2,125 2,166 2,131 -2

Export 277 240 245 2

Total 2,402 2,406 2,376 -1

Production Capacity 2,233 2,233 2,233 0

HDPE

Supply

Production 825 885 857 -3




Demand

Domestic 1,245 1,306 1,300 0

Export 129 137 134 -2

Total 1,374 1,443 1,434 -1

Production Capacity 1,142 1,142 1,095 -4

PP

Supply

Production 2,466 2,506 2,358 -6




Demand

Domestic 2,808 2,931 2,994 2

Export 276 287 345 20

Total 3,084 3218 3,339 4



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2. Actual shipments of products manufactured in Japan for supply to the home market in 2018

Unit: 1,000MT, % over previous year

LDPE HDPE PP

Film 628 -7 155 -9 470 -5

Laminating 253 -4 - - Oriented Tape (Flat Yarn) - 23 -1 19 -14

Injection Molding 82 -6 114 3 1,239 -8

Blow Molding 43 -1 178 -2 23 -4

Fiber - 39 4 96 -13

Pipe 17 4 59 2 -

Wire and Cable 56 -1 - -

Others 337 -5 165 0 432 -1

Total 1,416 -5 733 -2 2,279 -7


3. Market Trend in 2018 1) Domestic demand

PE: Throughout the year, total polyethylene (PE) domestic demand for resins and finished products decreased by 1%, 41,000MT from the previous year, LDPE decreased by 2%, 35,000MT, and HDPE decreased around 1%, 6,000MT. Total domestic PE production decreased by 7%, 188,000 MT from the previous year, LDPE decreased by 9% 160,000MT and HDPE decreased by 3%, 28,000 MT. The shipment of the domestic products of LDPE decreased by 5%, HDPE also decreased by 2%. Especially, Film (LDPE& HDPE) and Laminating (LDPE) decreased from the previous year. PP: Domestic demands increased by 2% over the previous year. It is speculated that sales have increased due to the stable demand for injection molding (general industrial parts applications mainly for automobiles) and films. On the other hand, the influence of domestic resin shortages caused by domestic manufacturers’ troubles that occurred in the latter half of 2017, continued mainly in the first half of 2018. Shipments of domestic resin decreased by 7% over the previous year, mainly in the injection molding and film field. It is speculated that the domestic resin shortage was compensated by the imported resin.

2) Imports PE: The imported resins increased by 14%, LDPE increased considerably by 21% and HDPE also increased by 5% from the previous year. The imported finished products increased by 4%, LDPE increased 4% and HDPE also increased by 5%.

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PP: The import of raw material resins increased 76% from the previous year. The shortage of domestic resins until the first half of 2018 were affected by domestic manufacturer troubles that occurred in the second half of 2017. It is estimated that the import volume increased significantly for the purpose of compensating for the shortage of domestic resin. The import of finished product increased 6% from the previous year.

3) Exports PE: The exported resins increased by 1%, LDPE increased by 2%, but HDPE decreased by 2% from the previous year. PP: The exported of PP increased 20% over the previous year, mainly in PP(HOMO).

4. Outlook for 2019 PE: It is expected to be steady growth of economy in 2019, however consumption of PE will be expected to increase slightly. PP: Domestic demand is expected to be steady mainly in the applications of container/pallet material, automobile and food packaging sector.

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3. Styrenics

17

Item: PS (GP/HI)

1. Supply and Demand Balance (Unit: MT)

2016 2017 2018 ’18 / ’17 (%)

Supply

Production 687,600 706,100 692,000 -2

Import 31,400 30,500 29,500 -3

Total 719,000 736,600 721,500 -2

Demand

Domestic Demand 662,600 670,100 661,500 -1

Export 29,900 31,600 38,600 22

Total 692,500 701,700 700,100 -0


Source: Japan Styrene Industry Association, Trade Statistics by MOF 2. General Results of PS in 2018 Annual production for 2018 slightly decreased by -2% to 692,000 tons compared to the previous year. It was the influence of regular maintenances and repair works. Production except for such period was almost the same as 2017. Domestic shipments were 661,500 tons, slightly decreased by -1% from the previous year. Results by application show that the packaging application decreased by -3% compared to the previous year. The sundries and industrial application maintained moderate growth, increasing by 1% on a full-year basis. The application for foamed styrene maintained moderate growth in 2018 with 1% increase compared to the previous year. Electric & electronic and industrial applications, while having a small volume, decreased by -4% compared to the previous year. Exports, while having a small volume, increased to 38,600 tons, up 22% from the previous year. Looking at the demand structure of 2018, both production and domestic shipments slightly decreased from those of the previous year on a full-year basis. Imports fell to 29,500 tons due in part to the exchange rate. 3. Outlook for 2019 The aggregate domestic demand including import slightly decreased to 691,000 tons, by -1% compared to the previous year. In a situation in which there are concerns about the exchange rate, raw fuel prices, impact of BZ prices, PS alternative trends, etc., the development of new usages, etc., is a critical issue for maintaining and improving domestic demand.

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Item: Styrene monomer


2016 2017 2018 ’18 / ’17 (%)

Supply

Production 1,947,900 2,084,500 2,007,500 -4

Import 2,100 0 12,400 -

Total 1,950,000 2,084,500 2,019,900 -3

Demand Domestic Demand 1,416,000 1,488,500 1,480,700 -1

Export 551,200 592,400 531,900 -10

Total 1,967,200 2,080,900 2,012,500 -3

Production Capacity 1,949,000 1,949,000 1,949,000 0

Source: Japan Styrene Industry Association, Trade Statistics by MOF 1. General Results of SM in 2018 Annual production for 2018 was 2,007,500 tons, decreasing by -4% from the previous year. By the regular maintenance and repair works took place in 2018, as the result, the production volume decreased from the previous year. Domestic shipments were 1,480,700 tons, slightly decreasing by -1% from the previous year, maintaining a stable shipment volume. Results by applications show that shipment for PS production, the main use of SM, had a steady growth in 2018 with 2% increase compared to the previous year. ABS increased significantly by 6% compared to the previous year. Synthetic rubber decreased by -4% compared to the previous year. EPS approximately was the same to the previous year. Exports showed -10% decrease to 531,900 tons compared to the previous year. In 2018 annual production was decreased, so both domestic shipments and exports decreased from the previous year. In 2018 overall, while there were regular maintenances and repair works at styrene manufacturers, a high operating rate was maintained. 2. Outlook for 2019 Production capacity will be under 2,000,000 tons, therefore maintained a high operating rate will be requested. And the production and shipment structures will be similar to the previous year.

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Item: ABS Resin (Unit: MT, %)

Source: Chemical Industry Statistics by METI, Trade Statistics by MOF,

Japan ABS polymer Industry Association

2016 2017 2018 ’18 / ’17 (%)

Supply

Production 360,100 395,000 381,500 -3

Import 48,300 40,300 46,200 15

Total 408,400 435,300 427,700 -2

Demand

Domestic 226,600 246,700 241,200 -2

Export 146,000 150,500 139,700 -7

Total 372,500 397,200 380,900 -4

Nameplate Capacity n.a. n.a. n.a.

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4. PVC & VCM

21

Item: Polyvinyl Chloride (PVC)

1. Supply and Demand Balance (Unit: Qty.:1,000 metric tons, Ratio: %)

Source: VEC (the Vinyl Environmental Council), Trade Statistics by MOF

2. Domestic Shipments by Application Segments (Unit: Qty.:1,000 metric tons, Ratio: %)

2016 2017 2018 Qty. Ratio Qty. Ratio Qty. Ratio

Rigid 547 -0 575 5 579 1 Flexible 246 3 250 2 251 0 Cables, others 218 -0 220 1 224 2 Total Domestic Shipments 1,011 0 1,045 3 1,053 1 Ratio: percentage of the application within all applications Source: VEC

3. Production Capacity (Unit: 1,000 metric tons per year)

2016 1,929 2017 1,929 2018 1,929

Source: METI

4. Market Trend in 2018 1) Production volume

The production volume in 2018 was 1,643KT, which was 21KT less than the previous year. The background of the less production was the combination of longer maintenance outages in a few plants and some plant troubles.

2) Domestic shipment & demand

The domestic shipment in 2018 was 1,053KT, which was 8KT, or 1% more than the previous year. The marginal growth was seen in both rigid and flexible sectors.

2016 2017 2018

Qty. Ratio Qty. Ratio Qty. Ratio

Production 1,617 3 1,664 3 1,643 -1 Domestic Shipment 1,011 0 1,045 3 1,053 1 Import 4 -20 4 0 5 5 Domestic Demand 1,015 0 1,049 3 1,058 1 Export 585 3 608 4 571 -6 Total Shipment 1,596 1 1,653 4 1,624 -2

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・Rigid Applications The shipment for rigid applications was 579KT, which was 4KT more than the previous year. The major drivers of the growth were pipes and rain gutters, likely led by constructions. We saw robust shipment increase in 2017 against the previous year (+28KT than the previous year). And the shipment level was sustained in 2018 as well. One of the probable fuel for the demand in 2017-18 is construction activities for 2020 Tokyo Olympic games.

・Flexible and others applications

The shipment for flexible applications was 251KT, which showed almost no growth in 2018. And meanwhile the shipment for cables and others was 224KT, which was 4KT more than the previous year. The growth engines were cable compounds and flooring sectors.

3) Exports The export from Japan was 571KT, which was 37KT less than the previous year. The volume shrunk significantly mainly because of the less production in 2018. Our major destination for export is India currently, which had over 50% share in our total export volume in 2018. And the export volume to India in 2018 increased despite the decrease in total export volume.

5. Outlook for 2019 In terms of our domestic demand, we expect the same level as 2018. Regarding the production, we could see more production due to less outage period for

maintenance than in 2018. So the export volume could bounce back.

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Item: Vinyl Chloride Monomer (VCM)

1. Supply and Demand Balance (Unit: Qty.:1,000 metric tons, Ratio: %)

2016 2017 2018 Qty. Ratio Qty. Ratio Qty. Ratio

Production 2,588 1 2,723 5 2,670 -2 Domestic Shipment 1,699 1 1,776 5 1,748 -2 Import 0 - 0 - 0 - Domestic Demand 1,699 1 1,776 5 1,748 -2 Export 874 0 950 9 900 -5 Total Shipment 2,574 0 2,726 6 2,648 -3 Source: VEC, Trade Statistics by the MOF

2. Production Capacity

(Unit: 1,000 metric tons per year) 2016 2,774 2017 2,774 2018 2,774

Source: METI

3. Market Trend in 2018 1) Production Volume

The production volume of VCM in 2018 was 2,670 thousand tons, that was 98.1% on the previous year.

2) Shipments

The domestic shipment of VCM in 2018 was 1,748 thousand tons. That was 98.4% on the previous year, as the result of decreased domestic PVC production.

4. Outlook for 2019 In 2019, some VCM producers are planning longer maintenance shutdown than in 2018. VCM production in 2019 is expected to be the same level as 2018, when some producers had production troubles.

24

5. Synthetic Rubbers

25

Item: Synthetic Rubbers

1. Supply and Demand Balance

(Unit: MT, %)

2016 2017 2018

Actual Annual

Change Actual

Annual

Change Actual

Annual

Change

SBR (Solid)

Production 454,900 -8 473,500 4 447,300 -6

Import 61,100 -4 59,600 -2 61,200 3

Shipment

Domestic 296,200 -4 297,600(1) 1 292,900(1) -2

Export 218,300 2 233,400 7 201,400 -14

Total 514,500 -1 531,000 3 503,300 -5

Capacity 606,000 -1 598,000 1 604,000 1

BR (Solid)

Production 288,600 -7 317,800 10 306,900 -3

Import 29,100 -3 24,600 -15 19,300 -22

Shipment

Domestic 189,500 -18 190,800(1) 1 199,000(1) 4

Export 153,500 13 143,800 -6 121,000 -16

Total 343,000 -7 334,600 -3 320,000 -4

Capacity 295,000 0 295,000 0 295,000 0

Others

Production 820,700 -7 829,900 1 815,300 -2

Import 65,900 -9 66,400 1 73,400 11

Shipment

Domestic 381,700 9 385,200(1) 1 384,800(1) 0

Export 482,300 8 486,100 1 474,200 -2

Total 864,000 9 871,300 1 859,000 -1

Capacity - - - - - -

Total

Production 1,564,200 -6 1,620,700 4 1,569,500 -3

Import 156,100 -6 150,600 -4 153,900 2

Shipment

Domestic 867,400 -2 873,600(1) 1 877,100(1) 0

Export 854,100 8 863,300 1 796,700 -8

Total 1,721,500 3 1,736,900 1 1,673,800 -4

Capacity - - - - - -

Source: Chemical Industry Statistics by METI, Trade Statistics by MOF, (1) The Japan Rubber Manufacturers Association (JRMA)

26

2. Market Trend in 2018 The Japanese economy has been moderately recovering, supported by the improvement of private consumptions and capital investments, despite the temporary economic slowdown caused by natural disasters in summer and the weak export demand to China due to the Chinese economic slowdown since autumn. Consequently, the growth rate of Japanese real GDP for 2018 is expected approximately 0.9%.(1) The number of domestic car production was 9.7 million units, same as the previous year.(2) The number of tire production resulted in 1.47 million units, up by 1% from the previous year.(2) The production of SR was 1.55 million MT, down by 4% from the previous year.(3) SR export quantity was slowed mainly due to China–United States trade war. 3. Outlook for 2019 The Japanese economy is likely to expand at a moderate pace, and the growth rate of the Japanese real GDP expected to increase 1.1% in 2019.(1) According to The Bank of Japan (BOJ), although there are downside risks, the year-on-year rate of change in the Consumer Price Index(CPI) is likely to increase gradually toward 2 percent. The number of domestic car production is expected to be 9.7 million units, same as the previous year.(2) The number of tire production is expected to be 1.45 million units, down by 1% from the previous year(2), because winter tire sales will be down as compared the last year, when strong tire demand was caused by big snow. The number of SR production is expected to be 1.52 million MT, down by 2% from the previous year due to weak domestic demand and reduction of excess inventory in 2018. (1) International Monetary Fund (IMF) (2) Japan Automobile Tire Manufacturers Association, Inc. (JATMA) (3) The Japan Rubber Manufacturers Association (JRMA)

27

6. Synthetic Fiber Raw Materials

28

Item: Ethylene Oxide (EO), Ethylene Glycol (EG)

1. Supply and Demand Balance EO （Unit：MT）

2016 2017 2018

Supply

Production 867,400 945,800 905,500

Import - - -

Total 867,400 945,800 905,500

Demand

Domestic 411,400 433,300 446,800

Direct Export - - -

Total 411,400 433,300 446,800

Year-end Capacity 921,000 921,000 921,000

Excluding the demand for EG Source: Chemical Industry Statistics by METI, Trade Statistics by MOF

EG （Unit：MT）

2016 2017 2018

Supply

Production 631,300 714,900 635,900

Import 5,700 4,000 5,600

Total 637,000 718,900 641,500

Demand

Domestic 383,800 399,100 392,400

Direct Export 266,300 322,500 273,200

Total 650,100 721,600 665,600


2. Market Trend in 2018 The Japanese EO demand of 2018 increased by 3% compared with the previous year. The demand for surfactant which is the main EO application has increased compared with the previous year. The demand for consumer goods has increased because the number of inbound tourists has kept increasing. On the other hand, the demand of some EO derivatives has decreased compared with the previous year. As for EO supply, production volume decreased by 4% due to a longer shutdown maintenance period of each company compared with the previous year. The Japanese EG demand of 2018 decreased by 2% compared with the previous year. The demand for polyester which is the main EG application had been continuously decreased since

29

2014, however, it has been slightly increased in 2018 compared with the previous year. On the other hand, the demand for the others has decreased compared with the previous year. In terms of export volume of EG from Japan in 2018, it decreased by 15% due to a longer shutdown maintenance period of each company compared with the previous year. 3. Outlook for 2019 The Japanese EO demand of 2019 is expected to be the same level as the previous year. The demand for surfactant and others is expected to be same level as the previous year. The EG domestic demand in 2019 is expected to be the same level as the previous year. In terms of export volume of EG from Japan in 2019, it is expected to increase due to be a shorter shutdown maintenance period compared with 2018.

30

Item: Acrylonitrile (Unit: 1,000MT)

2016 2017 2018 ‘18/’17

(%)

Supply

Production 420 435 477 10

Import 25 17 17 -4

Total 445 452 494 9

Demand

Domestic 439 437 444 2

Export 15 23 38 64

Total 454 460 482 5

Year –end Capacity 498 498 498 0

Note: Capacity excludes turn-around capacity investigated by METI. Domestic demand includes import demand.

1. Acrylonitrile Market Trend in 2018 (a) The amount of Acrylonitrile ("AN") production in Japan has increased by 10% to 477 thousand

metric tons from the previous year. The increase is attributed to the sustainable growth for AN demand.

(b) The amount of AN import to Japan has decreased by 4% to 16.6 thousand metric tons from the

previous year.

<Import amount by countries> (unit: 1,000MT) 2018 2017

Korea 4.7 6.5 USA 11.9 10.8 Total 16.6 17.3

(c) The amount of AN export from Japan has increased by 64% to 38 thousand metric tons from

the previous year, which was supported by increasing demand from other Asian countries.

<Export amount by countries> (unit: 1,000MT) 2018 2017

Taiwan 15 0 China 12 7 Malaysia 7 7 Korea 4 8 India 0 1 Total 38 23

(d) The supply/demand situations of AN derivatives in Japan were as follows:

31

① The amount of Acrylic Fiber ("AF") production has increased by 3% to 124 thousand metric tons from the previous year. The sustainable demand for specialty grade AF has led to increased AF production.

② The amount of Acrylonitrile-Butadiene-Styrene resin (“ABS”) production decreased by 4%

to 384 thousand metric tons from the previous year. The demand from automobiles is increasing, but accumulated maintenance turnaround of ABS manufacturers has led to decreased ABS production.

③ The demand for other AN derivatives, including Carbon Fiber, Acrylamide, and Nitrile-Butadiene Rubber, has increased from the previous year.

④ To summarize the above, the domestic demand for AN has increased by 2% to 444

thousand metric tons from the previous year. The total demand for AN, which includes export amount from Japan, was 482 thousand metric tons, increased by 5% from the previous year.

2. Global AN Market Outlook for 2019 The demand for AN in 2019 is expected to grow. The demand from AF is considered to decrease from 2018 due to the reduction of profitability

caused by increase in raw material cost and the uncompetitive AF price compared with other competing fibers.

The demand from ABS is expected to increase from 2018, reflecting continuous growth in Asia. The demand from other AN derivatives is also expected to grow continuously.

32

Item: Caprolactam

1. Supply and Demand Balance （Unit：MT）

2016 2017 2018

Supply Production 214,300 221,200 219,800

Import - - -

Total 214,300 221,200 219,800

Demand Domestic 123,900 136,000 131,500

Export 94,900 84,100 88,600

Total 218,800 220,100 220,100

Source: Chemical Industry Stats. by METI Trade Stats. by MOF 2. Market Trend in 2018 The operation rate of caprolactam (CPL) plant in Japan kept 80% which is similar to the level of a previous year. Although the production volume has been decreased since 2010, it has been keeping the level of 220KTA more or less since 2016 with stable demand. Asian CPL merchant market in 2018 had been closed with the better spread over Benzene compared with 2017. The improvement is mainly led by strong demand growth in the region following the trend of 2017, whereas CPL production volume also recorded historical high. The stable price of raw materials also supported the healthy market. Especially the tight supply of Cyclohexanone continued through the year. However, talking about the price trend at monthly basis, it started to drop dramatically after reaching to over $2,200/MT in October although it had kept uptrend since beginning of the year. It was triggered by declined Benzene price and weaker downstream market due to the U.S. and China trade conflict. 3. Outlook for 2019 A market fundamental seems to remain unchanged from 2018. U.S.A./European market will mostly be in good balance between supply and demand, so there will be no eager necessity to export CPL to Asia. In the meanwhile, China also possibly keeps the better market as 2018. Until March, the CPL price has already bottomed out with stabilized Benzene and recovering demand. Related with CPL expansion project, aprx.800KTA capacity is scheduled according to the market information source in China, whereas PA6 capacity is projected to be more than 1,000KTA. Theoretically, CPL supply demand balance keeps tight in 2019 as well, actual PA6 operation has to be monitored carefully though. Also for Cyclohexanone, some plants schedule new expansion; however, the commercial operation is expected in the middle to later part of the year and limitation of the supply would not be completely eased. Although some uncertain macro economy factors exist, such as trade conflict,

33

China’s economical stimulus measures, aforesaid market elements are expected to guide the healthy market properly.

34

7. Chemicals

35

Item: Acetaldehyde


2016 2017 2018

Supply Production 87,100 87,500 88,500

Import - - -

Total 87,100 87,500 88,500

Demand

Domestic 87,700 92,600 89,400

Export - - -

Total 87,700 92,600 89,400

Production capacity (at year-end) 289,000 177,000 177,000

Source: Chemical Industry Statistics by METI, Trade Statistics by MOF, etc.

2. Market Trend in 2018 Demand for acetaldehyde was stable after ethyl acetate application gets lost. 3. Outlook for 2019 Demand is expected to be unchanged with previous year.

36

Item: Acetic Acid


2016 2017 2018

Supply Production n.a. n.a. n.a. Import 115,300 144,800 154,500

Total n.a. n.a. n.a.

Demand Domestic n.a. n.a. n.a. Export 28,100 15,900 3,800

Total n.a. n.a. n.a. Production capacity (at year-end) n.a. n.a. n.a.

Source: Chemical Industry Statistics by METI, Trade Statistics by MOF 2. Market Trend in 2018 1) Domestic demand

Production ratio of Acetic acid continuously kept almost full operation because demand of derivatives was good. The demand for VAM kept strong and the operation ratio of VAM plant in Japan was high. The demand for PTA also kept firm volumes under the tight supply-demand balance in Asia. Acetic anhydride kept same level because its main application as LCP and cellulose acetate was running at normal production ratio during 2018. Esters production volume increased because of firm consumption in Japanese market.

2) Import volume increased comparing with 2017, because demand was higher than past years.

3) Export volume decreased comparing with 2017, and most of them were shifted to domestic

supply. 3. Outlook for 2019 1) Domestic demand is expected to keep same level.

Tight balance in Asia including Japan will be continued during first half in 2019, in view of expansion of demand in China and some Asia. And a lot of Acetic acid plants are scheduled turnaround from first quarter to second quarter in 2019. VAM production is expected to keep high production ratio for whole year. The demand for PTA and Acetic anhydride is expected to keep same level as last year.

2) Import is expected to keep same volume as 2018. 3) Export is expected to keep same volume as 2018. International VAM supply-demand balance is

expected to keep well balance. Especially ethylene-based VAM’s demand is more stable than the demand of acetylene-based VAM. PTA will also keep healthy operation ratio.

37

Item: Phthalic Anhydride (PA)

1. Supply and Demand Balance（Unit : MT）

2016 2017 2018

Supply

Production 158,500 162,400 159,400

Import 100 0 1,000

Total 158,600 162,500 160,400

Demand

Domestic 107,000 115,321 113,041

Export 53,500 49,800 41,400

Total 160,500 165,121 154,441

(Data Source) Production: Chemical Industry, Statistics (METI) Import/Export: Import Export Statistics (MOF) Domestic Demand: Japan Dyestuff and Industrial Chemicals Association (JDICA)

2. Market Trend in 20181) Production of the phthalic anhydride was 159,400MT, decreased from the previous year.2) The domestic demand was 113,041MT, decreased from the previous year. Demand for the

plasticizer, the main use, was the same as the previous year, 97% for paints, 100% forunsaturated polyester resins.

3) Export was 41,400 tons and 83% compared with the previous year. (due to the productiontrouble)

3. Outlook for 2019Domestic demand may be decreased compared with 2018. (due to the expected increase of theimport of plasticizer)

38

Item: Phenol

1. Supply and Demand Balance(Unit: MT, %)

2016 2017 2018

Supply Production 587,300 -9 675,600 15 587,400 -13

Import 72,900 109 53,900 -26 135,500 151

Total 660,200 -3 729,500 10 722,900 -1

Demand Domestic 600,860 0.9 658,500 9.6 629,000 -4.5

Export 64,300 -18 60,600 -6 32,700 -46

Total 665,160 -1.4 719,100 8.1 661,700 -8

Source: Industrial and Chemical Statistics by METI, Customs Clearance Statistics by MOF

2. Market Trend in 2018In 2018, GDP growth rate was 0.8%, declined from previous year.The domestic demand in 2018 was 629KT, 4.5% decreased from previous year.Demand of BPA, which is one of main applications, was 340KT, -4.0% from 2017. Anotherapplication Phenolic resin was 128KT, +1.9% from 2017. Demand of BPA declined because of oneof supplier’s longer maintenance shutdown and accident. Phenolic resin demand is stable. Demandfor Anone which started 2nd half of 2017, contributed whole year. Export volume was 33KT,28KT decreased from previous year. Import was 136KT, which was 82KT increased from previousyear.Operation ratio was 85%, dropped from previous year because of maintenance shutdown andshutdown due to accident.

3. Outlook for 2019Overall demand will be stable.Production will increase because negative impact in last year is canceled.Therefore exported quantity can increase.

39

Item: Methanol (Unit：1,000 tons)

2016 2017 2018

Supply Production 0 0 0

Import 1,628 1,760 1,851

Total 1,628 1,760 1,851

Demand Domestic 1,596 1,743 1,835

Export 32 17 16

Total 1,628 1,760 1,851 Source: Chemical Industry Statistics by METI, Trade Statistics by MOF

40

Petrochemical Industry of Japan

2019

Japan Petrochemical Industry Association

41

INDEX

Material Flow .................................................................................................................................. 1

Geographical Locations of Petrochemical Complexes ........................................ 2

Production Capacity ................................................................................................................... 3

Ethylene Production ................................................................................................................... 4

Export/ Import Balance as Ethylene Equivalent ..................................................... 5

The Members of the Association ................................................................................... 6-8

42

Material Flow (2018)

(Unit:1,000 ton)

Low-density Polyethylene 1,610 (Including LLDPE, EVA)

High-density Polyethylene 857

Vinyl Chloride Monomer 2,670

Ethylene Oxide 906

Acetaldehyde 89

Styrene Monomer 2,007

Others n.a.

Polypropylene 2,358

Acrylonitrile 477

Propylene Oxide 374

Phenol 587

IPA 203

Octanol 198

Others n.a.

Butadiene 858

Others n.a.

Benzene 4,172 (Including coaltar

aromatics) Toluene 2,069

Xylene 6,580

Others n.a.

(Includes propylene from refinery gas)

Ethylene 6,157 (31)

Propylene 5,170 (19)

Others (20)

C4 Fraction 2,614 (11)

Pyrolysis Gasoline 4,172(19)

Aromatics

(Cracking)

(Extraction)

Domestic 16,415 Imports 27,019

Total 43,434

LPG Heavy Condensate Gas Oil

Naphtha Supply

(Unit: 1,000 KL)

１

43

Geographical Locations of Petrochemical Complexes

Mitsubishi Chemical Corp. (Yokkaichi) Tosoh Corp. (Yokkaichi) Mitsui Chemicals, Inc. (Osaka)

Asahi Kasei Mitsubishi Chemical Ethylene Corp. (Mizushima)

Mitsui Chemicals, Inc. (Iwakuni Otake) Idemitsu Kosan Co., Ltd. (Shunan) Showa Denko K. K. (Oita)

JXTG Nippon Oil & Energy Corp. (Kawasaki)

Tonen Chemical Corp. (Kawasaki)

Maruzen Petrochemical Co., Ltd. ( Ichihara)

Mitsui Chemicals, Inc. (Ichihara)

Idemitsu Kosan Co., Ltd. (Chiba)

Sumitomo Chemical Co., Ltd. (Anegasaki Sodegaura)

Mitsubishi Chemical Corp. (Kashima)

２

44

Production Capacity (as of December, 2018)(in 1,000 metric tons) temporary data

Capacity Note

Ethylene 6,162

Benzene 5,556

Toluene 2,712

Xylene 8,842

Para-xylene 3,691

Low-density Polyethylene 2,233 Including LLDPE, EVA

High-density Polyethylene 1,095

Polypropylene 2,759

Polystyrene 853 GP・HI

Polyvinyl Chloride 1,929

Ethylene Oxide 921

Acrylonitrile 518

SBR 604

BR 295

Styrene Monomer 1,949

Vinyl Chloride Monomer 2,774

Acetaldehyde 177

3

Synthetic Rubbers

Product

45

Ethylene Production(in 1,000 metric tons) (in 1,000 metric tons)

YearProduction Annual Growth

(%)

’01 7,361 ▲ 3

’02 7,152 ▲ 3

’03 7,367 3

’04 7,570 3

’05 7,618 1

’06 7,552 ▲ 1

’07 7,739 2

’08 6,882 ▲ 11

‘09 6,913 0

‘10 7,018 2

‘11 6,689 ▲ 5

‘12 6,145 ▲ 8

‘13 6,696 9

‘14 6,647 ▲ 1

‘15 6,883 4

‘16 6,279 ▲ 9

‘17 6,530 4

‘18 6,157 ▲ 6

7,361

7,152

7,367

7,570 7,618

7,552

7,739

6,8826,913

7,018

6,689

6,145

6,696

6,647

6,883

6,279

6,530

6,157

5,000

6,000

7,000

8,000

'01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Production

4 46

Export/Import Balance as Ethylene Equivalent

(in 1,000 metric tons) (in 1,000 metric tons)

Export Import Net Export ImportExport Ratio Ratio

(A) (B) (A-B) (%) (%)

’06 2,294 489 1,805 30.5 8.6

’07 2,391 394 1,997 30.9 6.9

’08 1,829 541 1,288 26.6 9.7

‘09 2,940 407 2,533 42.5 9.3

‘10 2,435 535 1,900 34.7 10.5

‘11 2,193 709 1,484 32.8 13.6

‘12 1,910 704 1,206 31.1 14.3

‘13 2,398 672 1,726 35.8 13.5

‘14 2,193 737 1,456 33.0 14.2

‘15 2,584 594 1,990 37.5 12.1

‘16 2,235 770 1,465 35.6 16.0

‘17 2,321 848 1,473 35.5 16.8

‘18 2,134 883 1,251 34.7 18.0

Year

2,294

2,391

1,829

2,940

2,435

2,193

1,910

2,398

2,193

2,584

2,235

2,321

2,134

489

394

541

407

535

709 704

672

737

594

770

848

883

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

2,600

2,800

3,000

'06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Export Import

5 47

The Members of the Association (As of May, 2019)Company Address Phone URL

Sumitomo Chemical Co., Ltd. Tokyo Sumitomo Twin Building (East), 27-1, Shinkawa 2-chome, Chuo-ku, Tokyo 104-8260,Japan +81-3-5543-5500 http://www.sumitomo-

chem.co.jp/english/

JXTG Nippon Oil & EnergyCorporation

1-2 Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8162, Japan +81-3-6257-7150 http://www.noe.jx-group.co.jp/english/

Maruzen Petrochemical Co., Ltd. 1-1,Irifune 2-chome, Chuo-ku, Tokyo 104-8502, Japan +81-3-3552-9361 http://www.chemiway.co.jp/en/index.html

Mitsui Chemicals, Inc. Shiodome City Center, 1-5-2, Higashi-shimbashi, Minato-ku, Tokyo 105-7117, Japan +81-3-6253-2100 http://www.mitsuichem.com/index.htm

JSR Corporation Shiodome Sumitomo Bldg., 1-9-2, Higashi-Shinbashi, Minato-ku, Tokyo 105-8640, Japan +81-3-6218-3500 http://www.jsr.co.jp/jsr_e/

Kogin Bldg., 4-1-1, Koraibashi, Chuo-ku, Osaka 541-0043, Japan +81-6-6223-9111

Hibiya Dai Bldg., 1-2-2, Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011, Japan +81-3-3506-7475

ZEON CORPORATION Shin Marunouchi Center Bldg., 1-6-2, Marunouchi, Chiyoda-ku, Tokyo 100-8246, Japan +81-3-3216-1772 http://www.zeon.co.jp/index_e.html

Mitsubishi ChemicalCorporation

1-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-8251, Japan +81-3-6748-7300 http://www.m-kagaku.co.jp/index_en.htm

Tonen Chemical Corporation 1-2 Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8162, Japan +81-3-6257-5000 http://www.tonengeneral.co.jp//english/index.html

JNC Corporation Shin Otemachi Bldg., 2-2-1 Otemachi, Chiyoda-ku, Tokyo 100-8105, Japan +81-3-3243-6760 http://www.jnc-corp.co.jp/english/index.html

Showa Denko K.K. 1-13-9, Shiba Daimon, Minato-ku, Tokyo 105-8518, Japan +81-3-5470-3235 http://www.sdk.co.jp/english/

Nippon Shokubai Co., Ltd. http://www.shokubai.co.jp/en/

6 48

http://www.sumitomo-chem.co.jp/english/

http://www.sumitomo-chem.co.jp/english/

http://www.chemiway.co.jp/en/index.html

http://www.chemiway.co.jp/en/index.html

Company Address Phone URL

Dow-Mitsui PolychemicalsCompany, Ltd.

Shiodome City Center, 1-5-2, Higashi-shimbashi, Minato-ku, Tokyo 105-7122, Japan +81-3-6253-4000 http://www.mdp.jp

3-1-1, Marunouchi, Chiyoda-ku, Tokyo 100-8321, Japan +81-3-3213-3115

28Fl., JP Tower, 7-2, Marunouchi 2-Chome, Chiyoda-ku, Tokyo 100-7028, Japan +81-3-3213-3605

Asahi Kasei Corporation Hibiya Mitsui Tower, 1-1-2 Yurakucho, Chiyoda-ku, Tokyo 100-0006 +81-3-6699-3000 http://www.asahi-kasei.co.jp/asahi/en/index.html

Grand Front Osaka Tower-B, 3-1, Ofuka-cho, Kita-ku, Osaka, 530-0011, Japan +81-6-7639-7171

JR Shinagawa East Bldg., 2-18-1, Konan, Minato-ku, Tokyo 108-8230, Japan +81-3-6711-8111

Denka Co., Ltd. Nihonbashi Mitsui Tower, 2-1-1, Nihonbashi-Muromachi, Chuo-ku, Tokyo 103-8338, Japan +81-3-5290-5055 http://www.denka.co.jp/eng/top.htm

Seavans North Bldg., 1-2-1, Shibaura, Minato-ku, Tokyo 105-8449, Japan +81-3-5419-6110

1978-96, Kogushi, Ube city, Yamaguchi 755-8633, Japan +81-836-31-2111

Tosoh Corporation Shiba-koen First Bldg., 3-8-2, Shiba, Minato-ku, Tokyo 105-8623, Japan +81-3-5427-5103 http://www.tosoh.com/

NIPPON STEEL Chemical &Material CO., LTD.

14-1,Sotokanda 4-chome,Chiyoda-Ku, Tokyo 101-0021,Japan +81-3-5207-7600 https://www.nscm.nipponsteel.com/english/

Front Place Akihabara, 1-7-5, Sotokanda, Chiyoda-ku, Tokyo 101-8618, Japan +81-3-5207-2500

1-1, Mikage-cho, Shunan city, Yamaguchi 745-8648, Japan +81-834-34-2000

Ote Center Bldg., 1-1-3, Otemachi, Chiyoda-ku, Tokyo 100-8115, Japan +81-3-6701-1000

Umeda Hankyu Building Office Tower, 8-1, Kakudacho, Kita-ku, Osaka 530-8611, Japan +81-6-7635-1000

Mitsubishi Gas Chemical Co.,Inc.

Mitsubishi Bldg., 2-5-2, Marunouchi, Chiyoda-ku, Tokyo 100-8324, Japan +81-3-3283-5000 http://www.mgc.co.jp/eng/index.html

Tokuyama Corporation http://www.tokuyama.co.jp/eng/index.html

Kuraray Co., Ltd. http://www.kuraray.co.jp/en/

Idemitsu Kosan Co., Ltd. http://www.idemitsu.com/?sscl=head05

Daicel Corporation http://www.daicel.com/en/

Ube Industries, Ltd. http://www.ube-ind.co.jp/english/index.htm

7 49

https://www.nscm.nipponsteel.com/english/

https://www.nscm.nipponsteel.com/english/

Company Address Phone URL

KH Neochem Co., Ltd. 7th Floor, Muromachi Furukawa Mitsui Building, 2-3-1, Nihonbashi -Muromachi, Chuo-ku,Tokyo, 103 -0022, Japan +81-3-3501-3550 http://www.khneochem.co.jp/en/

SunAllomer Ltd. Tennoz Central Tower 27F, 2-2-24, Higashi-shinagawa, Shinagawa-ku, Tokyo140-0002, Japan +81-3-5781-5608 http://www.sunallomer.co.jp/eng

/index2.html

Japan Polyethylene Corporation Palace Bldg. 1-1-1, Marunouchi, Chiyoda-ku, Tokyo 100-8251, Japan +81-3-6748-7189 http://www.pochem.co.jp/jpe/index.html

Japan PolypropyleneCorporation

Palace Bldg. 1-1-1, Marunouchi, Chiyoda-ku, Tokyo 100-8251, Japan +81-3-6748-7190 http://www.pochem.co.jp/jpp/index2.html

Prime Polymer Co., Ltd. Shiodome City Center, 1-5-2, Higashi-Shimbashi, Minato-ku, Tokyo 105-7122, Japan +81-3-6253-4500 http://www.primepolymer.co.jp/english/index.html

Taiyo Oil Co., Ltd. Hibiya kokusai Bldg. 15F, 2-2-3, Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011, Japan +81-3-3502-1601 http://www.taiyooil.net/english/

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Japan Petrochemical Industry Association (JPCA)

SUMITOMO FUDOSAN ROKKO BLDG. 8F, 1-4-1 SHINKAWA, CHUO-KU, TOKYO 104-0033, JAPAN

TEL: +81-3-3297-2014 FAX: +81-3-3297-2017 URL: http://www.jpca.or.jp

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contents – · from each country, uae and qatar, increased by 16% from the previous year to 5,713...

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