Japan

Japan’s sluggish economy, coupled with higher raw material costs, will make this a tough year for the domestic chemical industry, producers say. The Japanese economy is expected to expand at modest rates of 1.5%-2% through 2009, in line with 2007 growth, says the Organisation for Economic Cooperation and Development (OECD; Paris). “Severe conditions are expected to persist for the chemical industry, due to concerns over a deceleration in the world economy stemming from the sub-prime loan problem in the U.S. and over further steep rises in raw material...

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