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— Latest update: April 2024 —
The use of metals has been expanded and perfected in the Japanese industry, which is searching for materials that allow the capabilities of the IoT and its Society 5.0 to be developed. At the same time, compliance with pollution reduction measures will make the government take new steps to protect its resources and, at the same, time trying to reduce the use of them towards a greener economy.
In the press release of 2022, the Ministry of Economy, Trade and Industry (METI) recognizes the metal market as fundamental for Japan’s economy and local economy. The material industry, including metal, represents more than 20% of manufacturing industry’s GDP. Moreover, the establishment of factories is said to play an important role for the local economy. In one of the largest manufacturing cities, Muroran, in Hokkaido, iron and steel industry amounts for 76 % of total manufacturing product sales. At the fundamental level, material market, notably metal, is perceived as the base of competitiveness of any other industry.
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