Kuraray (3405) Investor presentation summary

Business overview and value chain

• Manufactures resins, films, and fibers based on vinyl acetate monomer (VAM), with integrated operations from raw materials to finished products across global sites.

• Operates a comprehensive value chain with strengths in R&D, stable raw material procurement, global manufacturing, logistics, and collaborative marketing.

• Six production sites worldwide and a global sales network enable robust supply and customer solutions, with a new technical center planned in Singapore.

PVOH resin business and applications

• PVOH resin (polyvinyl alcohol) is a water-soluble, biodegradable polymer with high film strength, used in adhesives, coatings, specialty papers, and detergent dose systems.

• Applications span building materials, pulp and paper, packaging, textiles, and specialty dispersants for PVC.

• Sales are diversified across dispersants, films, fibers, adhesives, and specialty papers.

Market trends and growth opportunities

• Eco-friendly trends drive demand for plastic reduction, PFAS replacement, microplastic-free, and formaldehyde-free solutions.

• High-performance products like EXCEVAL™ target gas barrier and grease-proof paper, wood adhesives, and electronic materials, with strong adoption in Europe.

• Specialized PVOH grades for PVC dispersants support global PVC market growth, especially in Asia.

• High-performance product sales are projected to grow at an 8% CAGR from 2024 to 2030, with expansion in packaging, electronics, and agriculture.