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Expansion and New Product Launch are the key strategies adopted by leading market players to increase their market share
Organic expansion is the preferred strategy adopted by the major industry players to sustain growth in the automotive NVH materials market. Major automotive NVH materials manufacturers have established new manufacturing capacities, scaled-up & modernized their existing manufacturing capacities. This strategy accounted for 50% of all growth strategies adopted by market players between 2011 and 2015. Besides the strategy of increasing production capacity, companies also adopted the strategy of new product launch to expand their regional presence and product portfolio. This strategy accounted for 25% of all the growth strategies adopted by the market players. Joint ventures & acquisitions accounted for 15% & 10% respectively of all the growth strategies adopted by market players in the automotive NVH materials market.
Asia-Pacific was the most active region, in terms of strategic initiatives undertaken from 2011 to 2015.Companies such as BASF SE (Germany), ExxonMobil Chemical Company (U.S.), and Huntsman Corporation (U.S.) made several expansions via mergers to increase their market share and increase customer engagement.
Major manufacturers such as ExxonMobil Chemical Company (U.S.), Mitsui Chemicals Inc. (Japan), 3M Co. (U.S.), Covestro (Germany), Borgers AG (Germany), Hunstman Corporation (U.S.), The DoW Chemical Co.(U.S.), BASF SE (Germany), Celanese Corporation (U.S.) and laxness AG (Germany), among others are profiled in this report. These companies adopted both organic and inorganic growth strategies to sustain their growth.
Hunstman Corporation (U.S.), BASF SE (Germany) and The DoW Chemical Co.(U.S.), are the most active players in the automotive NVH materials market. These companies participated in most number of development activities compared to other players in the global automotive NVH materials market. The market activities undertaken by Huntsman, BASF and DoW, accounted for almost 50.0% of all the market activities that happened from 2011 to 2015.
Hunstman Corporation (U.S.) is the most active player in the automotive NVH materials market. It accounted for the largest share of all the development activities undertaken in the automotive NVH materials market. R&D investments, and mergers & acquisitions were the two key strategies adopted by Huntsman to achieve growth in APAC and North America. BASF meanwhile focused on an organic growth strategy. The company enhanced its product portfolio by launching new products.
Automotive NVH Materials Market by Type (Rubbers, Thermoplastic Polymers, and Engineering Resins), Application (Absorption and Insulation), Vehicle Type (Cars, LCV, HCV, and Bus) and Regional Analysis - Global Forecast to 2020
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