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New Product Launch is the Key Strategy Adopted by Industry Players to Gain Traction in the Reverse Osmosis (RO) Market
New product launch is the key strategy adopted by industry players to gain traction in the reverse osmosis (RO) market. This strategy accounted for 41.7% of all the growth strategies adopted by market players between 2012 and 2016. Toray, a leading market player, has adopted new product launch as its primary growth strategy. Companies also adopted the strategy of agreements, partnerships, and collaborations to expand their product portfolio. This approach accounted for 25.0% of all the growth strategies adopted by market players during the above-mentioned period. Expansions accounted for 25.0% of all the growth strategies followed by market players in the RO membrane market.
Asia-Pacific and Europe were the most active regions, in terms of strategic initiatives undertaken between 2012 and 2016. New product launch was the most favored strategy in the Asia-Pacific; the region accounted for 60% of all the expansions that took place between 2011 and 2015. Companies such as The Dow Chemical Company (U.S.), Nitto Denko Corporation (Hydranautics) (Japan), Toray Industries, Inc. (Japan), General Electric (U.S.), Toyobo Co., Ltd. (Japan) made several expansions to serve customers more efficiently and increase their market shares.
Major manufacturers, including The Dow Chemical Company (U.S.), Nitto Denko Corporation (Hydranautics) (Japan), Toray Industries, Inc. (Japan), General Electric (U.S.), Toyobo Co., Ltd. (Japan), have been profiled in this report. These companies have adopted both, organic and inorganic growth strategies such as expansion, mergers & acquisitions, and new product launches to strengthen their foothold in the RO market.
Dow water & process solutions accounted for the largest share of all the development activities in the market. The company follows dynamic growth strategies, focusing on new product launches, expansions, and agreements & joint ventures to increase its presence in the Asia-Pacific and RoW regions. Dow is focused on R&D activities; the company has a team of researchers who are focused on conducting research on more than 200 projects. Currently, it has 11 manufacturing plants, globally. Dow Water & Process Solutions signed a trademark licensing agreement with SPC ECOSOFT Ltd. (Ukraine) as part of the ingredient branding program focused on water residential segment. This has helped the company in expanding their customer base.
Toray Industries Inc. has gained a strong foothold in the RO market. It is focusing on organic growth and has enhanced its product portfolio through various growth strategies, such as expansions and joint ventures, to meet the growing demand from customers. Toray Industries, Inc. and Abunayyan Holding (Saudi Arabia) formed a joint venture, Toray Membrane Middle East LLC, in water and wastewater treatment technologies in Dammam, Saudi Arabia. This new JV was worth USD 80 million. This JV was formed to manufacture and sell water treatment membranes in addition to providing technical services. This JV formation helped Toray to provide its water solutions and enhance its footprint in the EMEA region.
Reverse Osmosis Membrane Market by Material Type (Cellulose Based and Thin Film Composite Membrane), by End-Use Industry & Application (Desalination System, RO Purification and Medical Devices & Diagnostics), and by Region - Global Trends & Forecast to 2021
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