Partnerships & Agreements & Collaborations is the Key Strategy Adopted by leading Market Players to Grow in the CRR Market
Partnerships & agreements & collaborations is the key strategy adopted by market players to grow in the corrosion resistant resin (CRR) market. This strategy accounted for a share of 48.5% of all total growth strategies adopted by market players between 2012 and 2016. Ashland Inc. (U.S), a leading market player, adopted partnerships & agreements & collaborations as its primary growth strategy. Companies also adopted the strategy of mergers & acquisitions, and joint venture to expand their regional presence. This strategy accounted for a share of 12.1% of the total growth strategies adopted by the market players between 2012 and 2016. Investments & expansions accounted for a share of 30.3% of all total growth strategies adopted by the market players in the CRR market to meet the growing demand from end-use industries across the globe.
Companies, such as Ashland Inc. (U.S.), Hexion Inc. (U.S.), Reichhold LLC (U.S.), Olin Corporation (U.S.), and Aditya Birla Chemicals (India) entered several partnerships & agreements & collaborations to serve customers more efficiently and increase their market shares.
Major manufacturers, including Ashland Inc. (U.S.), Reichhold LLC (U.S.), Huntsman Corporation (U.S.), Polynt SPA (Italy), Olin Corporation (U.S.) have been profiled in this report. These companies have adopted both, organic and inorganic growth strategies, such as investments & expansion, mergers & acquisitions, partnerships & agreements & collaborations, and new product developments to strengthen their position in the CRR market.
Ashland Inc. (U.S.), Hexion Inc. (U.S.), Huntsman Corporation (U.S.) and Reichhold LLC (U.S.) accounted for the largest share of all the developmental activities that took place in the CRR market between 2012 and 2016. The companies adopted dynamic growth strategies, focusing on new product developments, expansions, and agreements & joint ventures to increase their presence in the CRR market. In 2014, Reichhold Turkey expanded the production capacity in its Kartepe Kocaeli plant to 20,000 MT of liquid and powder coating resin. In 2014, Huntsman Corporation set up a new plant in China to meet the growing demand for polyurethane in the Asia-Pacific region. In 2015, Ashland Inc. entered into an agreement with OY Kokko-Fiber AB for distribution of unsaturated polyester in Finland. In 2015, Olin Corporation merged with The Dow Chemical Company handling its spin-off divisions, namely, chlorinated organics and global epoxy business units. These strategies enabled market players to gain competitive advantage by enhancing their regional footprint and widen their application area.
Scott Bader Company Limited (U.K.) has gained a strong foothold in the CRR market. It is focusing on organic growth and has enhanced its product portfolio through various growth strategies, such as investments & expansions, to meet the growing demand from customers. In 2014, Scott Bader Company Ltd. signed an agreement with New Asian Partners for the distribution of corrosion resistant resins in Turkmenistan, Azerbaijan, Kyrgyzstan, Lebanon, Australia, New Zealand, and South East Asian countries. In 2016, the company invested €4.2 million (around USD 4.6 million) in its expansion at the Amiens, France, which enabled the company to improve its production capacity.
Related Reports:
Corrosion Resistant Resin Market by Type (Epoxy, Polyester), Application (Coatings, Composites), End-Use Industry (Oil & gas, Heavy industries, Automotive & transportation) - Global Trends & Forecasts to 2026
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