Expansions is the key strategy adopted by industry players in order to achieve growth in the high performance foam market. This strategy accounted for the maximum share of total growth strategies adopted by the market players. The growing demand for foam in various end user industries has encouraged companies to adopt this strategy. Market players are focusing on entering new markets by expansion and are enhancing their high performance foam product portfolio for different applications. Rogers Corporation (U.S.), JSP Corportion (Japan), Evonik Corportion (Germany), BASF S.E.(Germany), and Saint Gobain (Paris) are some of the leading market players that adopted this strategy in order to develop their business.
Besides expansions and new product launches, companies adopted the strategy of acquisitions in order to expand their market share and distribution network. This strategy also accounted for a significant share of the total number of growth strategies adopted by the players in the global high performance foam market between 2010 and 2015.
Key companies such as Rogers Corporation (U.S.), JSP Corportion (Japan), Evonik Corportion (Germany), BASF S.E.(Germany), the Dow Chemical Company (U.S.), Armacell (Germany), Zotefoams PLC (U.K.), Trocellan (Germany), Sekisui Alveo (Switzerland), SABIC (Saudi Arbia), Saint Gobain (Paris), and Solvay (Belgium) are the most active players in the global high performance foam market.
In January 2015, JSP expanded its high performance foam (EPP foam) manufacturing facilities in China and Thailand with a total investment of around USD 15 million. It is expected that the total production capacity of the manufacturing facilities will reach 24,000 tons/year by 2017.
In September 2014, Evonik Industries AG announced to build a new plant for their polymethacrylimide structural foam ROHACELL in Shanghai, China. The company will produce core material, primarily for aerospace applications. This expansion strategy would help the company develop their business in the Asia-Pacific region.
In September 2013, BASF invested USD 42 million to build a polyurethane systems house in Geismar, Louisiana. The facility is used for polyurethane raw materials blending. This facility helped the company to deliver customized products to customers in the aerospace industry.
High Performance Foam Market by Type (Polyurethane, Silicone, Polyolefin, Others), by End Use Industry (Construction, Transportation, Electronics, Packaging, Others), & by Region (Asia-Pacific, Europe, North America, RoW) - Global Forecast to 2020
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