Leading companies in this market have adopted various growth strategies to expand their global presence and increase their market shares in Chlorinated Polyethylene Market
The demand for chlorinated polyethylene has increased globally since 1990’s. Asia-Pacific and North American regions have registered a strong demand for chlorinated polyethylene, along with technological advancements, which has further accelerated developments in the chlorinated polyethylene sector. Chlorinated polyethylene is widely used in impact modifier (polymer modification) application, which is one of the key factors contributing to the overall demand of chlorinated polyethylene.
Presently, the chlorinated polyethylene market is dominated by key players, such as The Dow Chemical Company (Michigan, U.S.), Weifang Yaxing Chemical Co., Ltd. (Weifang, China), Novista Group Co., Ltd. (Weifang, China), Showa Denko K.K. (Tokyo, Japan), S&E Specialty Polymers (Lunenburg, U.S.), Shandong Xuye New Materials Co., Ltd. (Dongying City, China), Shandong Xiansheng Plastic Industry Co., Ltd. (Qingdao, China), Shandong Gaoxin Chemical Co., Ltd. (Weifang, China), and Hangzhou Keli Chemical Co., Ltd., among others.
Leading companies in this market have adopted various growth strategies to expand their global presence and increase their market shares. The important growth strategies adopted by players in the global chlorinated polyethylene market between 2011 and 2015 have been investments, new product launches, agreements, mergers & acquisitions, and expansions. The Dow Chemical Company (Michigan, U.S.), Weifang Yaxing Chemical Co., Ltd. (Weifang, China), S&E Specialty Polymers (Lunenburg, U.S.), and Sundow Polymers Co., Ltd. (Weifang, China) among others, are some of the leading market players, who have adopted this strategy to develop their businesses. Investments and new product launches are the other popular strategies adopted by market players to increase their market shares and expand their distribution networks.
In April 2015, Weifang Yaxing Chemical Co., Ltd. invested USD 7.4 million to set up a wholly-owned subsidiary in Weifang (China). The subsidiary produces, explores, and markets oil & gas products of the company.
The Dow Chemical Company is another major player in the market. In April 2011, the company introduced its latest product range ELITE, which is an advanced technology polyethylene resin. This resin caters to the demand for high-performance films used for numerous applications. The launch of this product has helped the company strengthen its market position in the plastics segment.
Furthermore, The Dow Chemical Company and Exxon Mobil Chemical signed an agreement in February 2014 to introduce Univation Technologies. This agreement has helped both these companies gain a competitive edge in the performance plastics segment and has further enabled them to offer excellent polyethylene process technology.
Related Reports:
Chlorinated Polyethylene Market by Application (Impact Modifier, Wire and Cable Jacketing, Hose & Tubing, IR ABS, Adhesives, Magnetics, Others), Grade (CPE 135A, CPE 135B, Others), and Region - Global Forecasts to 2021
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