Japan Petrochemicals 2019
Japanese players had previously benefited from the large market in China, but this has changed as a result of risingChinese self-sufficiency amid the country's growth in capacity and slower demand growth rates. The situation in Japan closelyresembles that of the European Union (EU): a mature market with low growth in basic chemicals due to ageing plants and risingenergy costs. Japan's petrochemicals industry is heavily reliant on naphtha supplies from local refineries, which require importedcrude.
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