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Thermoplastic Polyurethane Market - Global Trends & Forecasts to 2018
The TPU market is mainly controlled by top five players with nearly 80.0% of the global market share and presence across the all the regions; however, the presence of many small domestic manufacturers cannot be underestimated in the market of their operation. Asia-Pacific is the biggest consumer of TPU and also fastest growing alongside ROW. Major market players are improving their capacity, global footprints and distribution network in order to reduce the impact of external environment and competition.
Bayer Material Science AG (Germany), BASF SE (Germany), Huntsman Corporation (U.S.), Lubrizol Corporation (U.S ), and Wanhua chemical Group Co. Ltd (China) are among the top TPU, along with Polyone Corporation (U.S.), COIM (Spain), and Hexpol TPE (Sweden), also being the most active players between 2010 and 2013.
In terms of market activities, Bayer Material Science AG (Germany) and Huntsman Corporation (U.S.) held the same share with each company contributing 16.3% each toward the total development activities. Top three companies contributed nearly 46.4% of strategic initiatives implemented between 2010 and 2013.
BASF SE (Germany) and Wanhua chemical Group Co. Ltd (China) were other active companies in the TPU market. BASF SE (Germany) focused on increasing its footprint with expansion in Western Europe and Asia-Pacific, apart from this, new product development was other predominant strategy adopted by the company. The two companies together accounted for nearly 18.8% of the total developments from 2010 to 2013. BASF SE (Germany) increased its business potential in the Western Europe with the addition of capacity, starting new R&D center and developing a new site in Asia-Pacific. It was also involved several in new product launches and exhibition of its products being used in various endľuser applications. Wanhua chemical Group Co. (China) Ltd was equally focused in capacity expansions and new products launches in order to stay competitive in the market.
Bayer Material Science AG (Germany) focuses on developing new products for various applications along with its R&D development partners. It entered in to an agreement to enhance its distribution network in the European region. It also invested heavily in its R&D activities and partnered with other companies to develop better TPU to satisfy the demands from the end use market.
As a part of its business strategy, Huntsman Corporation (U.S.) focused on developing new products so as to differentiate its product portfolio from its competitors. It also participates in various conferences and exhibitions to highlight its products and technologies. It started a plant dedicated to manufacture only TPU in China, adding to its TPU capacity.
Thermoplastic Polyurethane Market by End-Industry (Automotive, Building & Construction, Engineering, Footwear, Hose & Tube, Medical, and Wire & Cable) & Geography - Trends & Forecasts to 2018
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