HOME › Research Insight › New Product Launches, Mergers & Acquisitions, and Partnerships, Contracts, & Agreements Were the Other Strategies Adopted by Companies to Expand their Market in Expanded Polypropylene (EPP) Foam Market
New Product Launches, Mergers & Acquisitions, and Partnerships, Contracts, & Agreements Were the Other Strategies Adopted by Companies to Expand their Market in Expanded Polypropylene (EPP) Foam Market
The trend towards manufacturing light weight & energy efficient vehicles, has led to the growing usage of eco friendly (recyclable & reusable) foam, which is boosting the use of Expanded Polypropylene (EPP) foam in various end-use applications. These aspects have encouraged companies to adopt development strategies in expanded polypropylene foam industries. Investments and expansions was the key strategy adopted by industry players to achieve growth in the expanded polypropylene foam market between 2010 and 2016. This strategy accounted for the largest share among all the strategies adopted by the market players. JSP Corporation (Japan), BASF SE (Germany), and The Woodbridge Group (Canada) are some of the leading market players that adopted the investments and expansions strategy to develop their businesses.
Besides the investments and expansions strategy, new product launches, mergers & acquisitions, and partnerships, contracts, & agreements were the other strategies adopted by companies to expand their market shares and distribution networks. These strategies also accounted for a significant share of the total number of growth strategies adopted by players in the global expanded polypropylene foam market between 2010 and 2016.
Key companies such as JSP Corporation (Japan), BASF SE(Germany), Hanwha Corporation (South Korea), Kaneka Corporation (Japan), Furukuwa Electric Co., Ltd. (Japan), DS Smith Plc (U.K.), The Woodbridge Group (Canada), SSW PearlFoam GmbH (Germany), Sonoco Products Company (U.S.), and Dongshin Industry Inc. (South Korea) are the most active players in the global expanded polypropylene foam market.
JSP Corporation is the market leader in the global expanded polypropylene foam market. Its products are sold under the brand name Arpro. The company is majorly focusing upon the investments & expansions strategy to expand its share in the emerging regions. For, instance, in January 2015, JSP expanded its expanded polypropylene foam manufacturing capacity in China and Thailand with a total investment of around USD 15 million. The total capacity is expected to increase to 24,000 tons/year by 2017.
BASF SE (Germany) is a leading company in the EPP foam market. ‘Neopolean’ is the brand offered by the company for EPP foam. The company is majorly focusing on the joint venture strategy to expand its share in the emerging regions. For, instance, in November 2013, BASF formed a joint venture with the BMW Group to manufacture an automotive part which reduces the weight of vehicles by 30% using NeopolenP, an expanded polypropylene (EPP) foam product. For the same, they received an award from the SPE European Automotive Division.
Expanded Polypropylene (EPP) Foam Market by Type (Low Density, High Density & Porous PP), Application (Automotive, Packaging, Consumer Products), and Region (North America, Europe, Asia-Pacific) - Global Forecast to 2021
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