Japanese chemical companies promote sustainable long-term strategies

Japanese market participants recently stated that the Japanese chemical market will recover in 2021, but the degree of recovery depends on the epidemic situation and the semiconductor industry situation, both of which are not optimistic.

Demand has rebounded strongly

Although the epidemic in Japan continues to repeat, as the markets in China, Europe, and the Americas have recovered, Japanese chemical companies have performed relatively strongly and have many opportunities.

Sumitomo Chemical CEO Keiichi Iwata said that China is leading the global economic recovery, and the US market will reach its pre-epidemic level in the middle of this year.

Shin-Etsu Chemical President Saito Masahiko also said that the strong momentum of the electronics industry will continue.

Sustainability strategy is not affected

Regarding the currently hotly discussed topic of carbon neutrality, Japanese chemical companies generally promise to achieve carbon neutrality by 2050, and are making corresponding investment and product portfolio decisions.

Jean-Marc Gilson, the newly appointed president and CEO of Mitsubishi Chemical Holdings, said that Japanese companies continue to reduce general chemical production.

Teijin President Jun Suzuki also said: "The business environment has undergone major changes, but the medium and long-term social needs and direction will not change.

　　DIC President and CEO Kaoru Ino pointed out that due to the new crown pneumonia epidemic, its publishing ink business and some other businesses that are destined to be replaced by digitalization have accelerated, but even so, DIC's core strategy will not change.

　　Asahi Kasei President Hidetoshi Kobori said that the company's focus on greener businesses has not changed.

　　Accelerating the process of digital transformation

　　For a long time, digitalization has been a major shortcoming of Japanese chemical companies.

　　Due to drastic changes in working methods and life>Suzuki Jun of the Teijin Group said that at present, life and work processes will not completely return to the state before the new crown pneumonia epidemic, and social needs will become more diversified.

　　Gilson of Mitsubishi Chemical Holdings said: “Although Japanese chemical companies have long occupied a strong position in the electronics and information communication technology market, their digital and artificial intelligence applications need to be continuously strengthened.