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New Product Launch Strategy was Adopted by the Industry Players to Achieve Growth in the Polymer Foam Market between 2010 and 2016
New product launch strategy was adopted by the industry players to achieve growth in the polymer foam market between 2010 and 2016. This strategy accounted for the largest share among all the strategies adopted by the market players. The rise in demand for foam in applications such as automotive, building & construction, furniture & bedding, packaging and others facilitates the growth of foams. These aspects have encouraged companies to adopt various development strategies in the polymer foam industry. Some of the leading polymer foam manufacturers, such as Arkema (France), Armacell International S.A. (Luxembourg), BASF SE (Germany), Borealis AG (Austria), JSP Corporation (Japan), Recticel (Belgium), Rogers Corporation (U.S.), Sealed Air (U.S.), Sekisui Alveo AG (Switzerland), Woodbridge Foam Corporation (Canada), Synthos S.A. (Poland), The Dow Chemical Company (U.S.), Ineos Styreneic International S.A. (Switzerland), Foam Partner Company (Switzerland), and Zotefoams Plc (U.K.), are adopting this strategy to develop their businesses globally.
Besides new product launch, the companies have adopted investments & expansions; mergers & acquisitions; partnerships, contracts, and agreements as the key strategies to expand their market share and distribution network. These strategies also accounted for a significant share of the total number of growth strategies adopted by the players in the global polymer foam market between 2010 and 2016.
Key companies, such as Armacell International S.A (Luxembourg), BASF SE (Germany), Sekisui Alveo AG (Switzerland), Woodbridge Foam Corporation (Canada), and Zotefoams Plc (U.K.), are the most active players in the global polymer foam market.
On December 2015, Woodbridge Foam Corporation (Canada) launched TrimLine FIP premium automotive interior trim products that offer molded high resiliency foams to improve comfort, fit, and finish of complex and slim profile designs for armrests, door inserts, instrumental panel components, center consoles, and grab handles. This increased its market share in the automotive application.
On October 2015, Sekisui Alveo AG (Switzerland) launched rigid foam boards, a new version of closed-cell PP foam. It has a great potential for weight reduction in the automotive and packaging industries.
Polymer Foam Market by Type (PU, PS, PVC, Phenolic, Polyolefin, Melamine, and Other), by Application (Packaging, Building & Construction, Furniture & Bedding, Automotive, and Others), by Region (North America, Europe, Asia-Pacific, and Row) - Global Forecasts to 2021
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