Companies Adopted Strategies Such as New Product Launches, Investments & Expansions, Partnerships, Contracts & Agreements to Increase Their Market Shares and Expand Their Global Network in High Temperature Resin Market
New product launch is the key strategy adopted by key industry players to achieve market growth in the global high temperature resin market. This strategy accounted for the largest share of all the development strategies adopted by market players to expand their global presence and increase their market shares between 2013 and 2016. A turnaround in industrial activity, combined with the increasing use of high temperature resins in the automotive & transportation, aerospace & defense, marine, building & construction, electrical & electronic, and other industrial applications, has led companies to adopt this strategy. Some of the leading high temperature resin manufacturers are E.I. du Pont de Nemours and Company (U.S.), DIC Corporation (Japan), Solvay S.A. (Belgium), Huntsman Corporation (U.S.), Henkel AG & Co., KGaA (Germany), Saudi Basic Industries Corporation (Saudi Arabia), and Dow Corning Corporation (U.S.). These companies have adopted various organic and inorganic growth strategies to improve their businesses and strengthen their global market shares.
Companies adopted strategies such as new product launches, investments & expansions, partnerships, contracts & agreements to increase their market shares and expand their global network. These strategies accounted for a significant share of the strategies adopted by players in the global high temperature resin market between 2013 and 2016.
The two key players in the global high temperature resin market are Solvay S.A. (Belgium), and Henkel AG & Co., KGaA (Germany). These two players adopted various strategies to expand their reach in the high temperature resin market. Solvay S.A. (Belgium) preferred new product launch as its major strategy to strengthen its position in the market. In August 2016, Solvay added three Ryton polyphenylene sulfide products to its portfolio for food & beverage applications. The newly introduced products are Ryton R-4-242, R-7-232 PPS, and Ryton R-4-232 PPS. Similarly, in May 2014, Solvay Specialty Polymers launched new high stiffness grade KetaSpire PEEK. These new products have found applications in the automotive & transportation, electronics, semiconductor, and oil & gas industries. Solvay S.A.’s core competency is its broad product portfolio, which has enabled the company to build a balanced revenue stream for sustainable growth
Henkel AG & Co. KGaA is a global market leader in the adhesives business. The company has a strong global position and is expected to retain its market share in the near future by pursuing strategies such as joint ventures and new product launches to cater to the changing customer requirements. To keep up with the on-going trend of developing products that reduce volatile organic compounds (VOCs) and toxicity, the company has introduced solvent-free assembly adhesives with improved performances. In October 2014, Henkel launched a new product, the Loctite Benzoxazine (BZ) composites family, which includes prepregs, infusion resins, film adhesives, and tooling materials. The major application of this new product series is found in the aerospace & defense industry. Similarly in September 2013, Henkel launched Loctite MAX 3, a polyurethane matrix resin with application in the automotive & transportation industry.
Key companies such as Solvay S.A. (Belgium), Huntsman Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), Hexion Inc. (U.S.), Mitsui Chemicals Inc. (Japan), DIC Corporation (Japan), Henkel AG & Co., KGaA (Germany), Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Royal Tencate N.V. (Netherlands), and BASF SE (Germany) are profiled in this report.
Related Reports:
High Temperature Resin Market by Type (Epoxy, Silicone, Acrylic, Polyester, Polyethersulfone, Alkyd, Polyurethane, Phenolic, Polyetheramide), Appication (Adhesives & Sealants, Paints & Coatings, Composites), and Region - Global Forecast to 2026
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