Shoei Chemical

Name

Shoei Chemical

Legal name

昭栄化学工業株式会社

Website

https://shoeichem.co.jp

Company type

Private

Founded year

1956

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Electronic Materials

NAICS

Synthetic Dye and Pigment Manufacturing (32513)

SIC

Miscellaneous Chemical Products (2890), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Electroplating & Metallization Chemicals (Cu/Ni/Au plating, additives) (IMAEAKAK)

akta.pro secondary industries

Metallization & Plating Chemicals (Cu/Co/Ru/Barrier & Seed) (HDAHAGAK), Dielectrics & Insulating Materials Chemicals (Low-k/High-k precursors) (IMAEAKAJ)

Keywords

• Electronic materials manufacturing
• Metal powder production
• Conductive pastes
• Quantum dot materials
• MLCC components

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Electronic Materials - Metal Powders: Manufacture and sale of metal powders including nickel, silver, copper, palladium, and ruthenium for electronic components. Nickel powder for MLCC internal electrodes is the flagship product.
2. Electronic Materials - Pastes: Conductive pastes, resistive pastes, and insulating pastes for electronic components. Products are used in MLCCs, resistors, inductors, and other electronic parts.
3. Quantum Dot Products: Quantum dot materials for display applications including LCDs and OLEDs. QD business was formally commercialized in 2021 with first shipments to display manufacturers worldwide.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Shoei Chemical manufactures ultra-fine metal powders (including nickel, silver, copper, palladium, and ruthenium) and electronic pastes (conductive, resistive, and insulating) used as core materials in multilayer ceramic capacitors (MLCCs), resistors, inductors, and other electronic components. The company also produces semiconductor quantum dot nanoparticles for LCD and OLED display applications. All products are manufactured in-house from raw powder through final paste formulation, enabling integrated quality control and customized solutions for global electronic component manufacturers.

Product overview

Shoei Chemical is an electronic materials manufacturer that produces metal powders and pastes for electronic components, along with quantum dots. The core product portfolio includes ultra-fine metal powders (minimum 80nm) such as nickel powder for MLCC internal electrodes, and three types of pastes (conductive, resistive, insulating) made from precious metals like silver, copper, palladium, and nickel. The company also developed cadmium-free quantum dots with world-leading spectral control technology for display applications. All products are manufactured in-house from powder to paste, enabling integrated quality control and customized solutions for electronic component manufacturers.

Differentiator

Problem solved

Functional benefit

Products and services

• Metal Powder (粉末) Ultra-fine metal powders including nickel, silver, copper, palladium, and ruthenium used as electrode materials for MLCCs and other electronic components. Manufactured to particle sizes as small as 80nm using spray pyrolysis and PVD methods. Nickel powder for MLCC internal electrodes is the flagship product, with Shoei holding approximately 40% world market share.
• Conductive Paste (導電ペースト) Paste materials composed of conductive metal particles (Ag, Cu, Ni), binders, and organic solvents. Used for electrodes, joining components, and forming electronic circuits in electronic devices such as MLCCs, resistors, and inductors.
• Resistive Paste (抵抗ペースト) Paste materials used in electronic circuits to form components with specific resistance values. Composed of conductive particles, insulating particles, and binders, with resistance values adjusted by controlling the mixing ratio.
• Insulating Paste (絶縁ペースト) Paste materials used to electrically insulate and protect specific areas of electronic circuits. Essential for enhancing safety and reliability of electronic devices, used for interlayer insulation and electrode insulation.
• Quantum Dots / QD (量子ドット) Semiconductor nanoparticles (2-10nm diameter) with precise size and structural control technology. Achieved world's narrowest spectral linewidth (FWHM 31nm) for InP Quantum Dots and Japan's first mass production of cadmium-free quantum dots. Used for color conversion in LCD and OLED displays.

Quantifiable outcome

• 40% world market share for MLCC internal electrode nickel powder
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered moderate and core.

• Nanoco Group plcmoderateStrategic or Co-development Partner · 19 March 2026Settled intellectual property dispute with mutual covenant not to sue. Cross-licensing agreement: Nanoco will not pursue Shoei for quantum dot patents in the display field, and Shoei will not pursue Nanoco for quantum dot patents in the sensing field. Both parties bear their own legal costs.
• Nanosys Inc.coreOEM/ Whitelabel/ Licensing Partner · 1 January 2023Acquired the quantum dot business of U.S. company Nanosys Inc. in 2023, gaining full ownership of QD technology and customer relationships.
• Nanosys Inc.coreStrategic or Co-development Partner · 1 January 2020Strategic partnership announced in 2020 for quantum dot business collaboration. Subsequently, Shoei acquired Nanosys's QD business in 2023, establishing full control over quantum dot technology and manufacturing.
• Canadian Electronic Powders CorporationcoreTechnology or Integration · 1 January 2003Acquired Canadian Electronic Powders Corporation in 2003 for its advanced PVD technology capabilities. Subsequently merged into SHOEI CANADA CORPORATION.

Scale indicators6 records

Recent moves11 records

Expansion highlights4 records

Broad incumbents

• Heraeus: German precious-metals and technology group with electronic materials (conductive pastes, silver powders, bonding wires) sold into MLCC, display, and semiconductor customers — a broader incumbent competing with Shoei's paste business.
• Sumitomo Metal Mining: Large Japanese non-ferrous metals and materials company with electronic materials and nickel powder businesses; broader portfolio (mining, smelting, battery materials) than Shoei but overlapping in nickel-based electronic materials.
• Johnson Matthey: Global specialty chemicals and precious metals company supplying electronic materials, catalysts, and pastes to the electronics industry — broader incumbent with overlapping electronic-materials product lines.

Direct peers

• JX Nippon Mining & Metals: Produces copper and rare-metal powders, sputtering targets, and electronic materials used in semiconductors and MLCCs — a direct competitor in metal powder raw materials for electronic applications.
• Resonac (formerly Showa Denko): Major Japanese electronic materials supplier including CMP slurries, packaging materials, and surface-finishing chemicals. Overlaps with Shoei in supplying semiconductor and electronic-component manufacturers.
• Mitsui Mining & Smelting: Operates a microelectronic materials business producing copper and other metal powders/pastes for MLCCs and PCBs — competing with Shoei in the same end-use customer base of MLCC and PCB manufacturers.
• Nippon Chemical Industrial: Japan-based specialty chemicals manufacturer producing electronic-grade metal compounds, pastes, and powders for capacitors, displays, and semiconductors — directly overlapping Shoei's MLCC and electronic-materials product portfolio.
• Tanaka Kikinzoku Kogyo (Tanaka Precious Metals): Japanese manufacturer of precious metal powders, pastes, and bonding materials used in electronic components. Direct peer in silver, palladium, and other precious-metal pastes that compete with Shoei's conductive/resistive paste lines.

Others

• Samsung Electro-Mechanics: Top-tier MLCC and electronic-component maker that is a major customer of Shoei. Comparable in that it shares the same end-market, but a downstream customer rather than direct materials competitor.
• Murata Manufacturing: World's largest MLCC manufacturer and one of Shoei's largest customers for nickel internal-electrode powders. Not a product peer, but a downstream customer whose in-house materials strategy could affect Shoei's share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/shoei-chemical-inc-

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shoei Chemical