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Market Leader - Low VOC Coating Additive Market
The Low VOC Coating Additive Market is dominated by respective global players along with the presence of few regional players in the key growth markets. The Asia-Pacific region is the largest market, followed by North America in the global low VoC coating additive industry.
The key companies in this market are Alatana AG (Germany), Air products (U.S.), BASF SE (Germany), Eastman Chemical Company (U.S.), Elementis PLC (U.K.), Huntsman Corporation (U.S.), Dow (U.S.), Dupont (U.S.), Om Group Inc.(U.S.), Allnex (Belgium) they are the most active and major players in the low VOC coating additives market.
New product development were the key strategy adopted by industry players in order to achieve growth in the Low VoC coating additive market. This strategy accounted for a share of more than one third of the total growth strategies adopted by market players. The increasing demand for low VoC coating additive as well as the growing need to comply the environmental regulations in end user industry such as automotive and building & construction market has encouraged companies to adopt this strategy. Market players are focusing on entering new markets by acquiring companies thus, enhancing their low VoC coating additive product portfolio for different applications.
Besides new product development, companies adopted the strategy of acquisition, and expansion in order to expand their market share and distribution network. This strategy also accounted for a significant share of the total number of growth strategies adopted by players in the low VOC coating additives market between 2010 and 2014.
Altana AG invested $50.0 Million and expanded facility in Wallingford, Connecticut known as BYK USA Inc. This expansion doubled the production capacity of additives in the U.S. and increased the world wide supply. Further, this expansion also helped to enhance the product portfolio and helped to accelerate its growth in North America. The company also launched ERAFLOUR 1000, which is a renewable and bio-based additive offering wax-like property. This type of additive can be used in different technologies such as water-based, solvent based and radiation-curing. This new additive offers the benefit excellent matting, high degree of transparency and excellent scratch resistance.
BASF India Limited inaugurated its large-scale chemical production complex at Dahej in Gujarat, India. With a project cost of $161.6 million (INR1,000 crore), the site represents BASF’s single largest investment in India. The site includes an integrated hub for polyurethane manufacturing and production facilities for care chemicals and polymer dispersions. With this expansion by the company, the production footprint in the dispersions business has increased which also complements the Mangalore facility.
Elementis speciality Inc. acquired Hi-Mar Specialty Chemicals LLC for $33.0 million. This acquisition helped the company to drive growth by adding technical expertise and adding value in product portfolio. The acquisition also enhanced the capability as Hi-Mar was a leading supplier of defoamers in high end markets and provides customers with an enhanced product and service offering.
These market strategies by the leading players will increase their market share, thereby enhancing their global presence in the Low VoC coating additive industry.
Low-VOC Coating Additive Market by Type (Rheology Modifier, Defoamer, Dispersant, & Wetting Agent), by Technology (Waterborne, Powder, High Solids, & UV/EB), by Application (Architectural, Auto, Industrial, Packaging, Wood) - Global Forecast to 2020
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