New Product Launch is the Key Development Strategy Adopted by the Leading Players in the Global High Temperature Thermoplastics Market.
New product launches, mergers & acquisitions, and expansions & investments are the key strategies adopted by the industry players to achieve growth in the High Temperature Thermoplastics (HTTs) market. Increasing industrial advancements, technological advancements, and demand for efficient plastic materials with excellent physical properties such as high thermal stability, greater chemical resistance, greater design flexibility, and high dielectric strength have led various end-use industries to use HTTs, thus leading to a rise in their demand. These aspects have encouraged companies to adopt strategies such as new product launches, expansions, mergers & acquisitions, and agreements. Some of the key players, such as Solvay (Belgium), Evonik Industries (France), BASF (Germany), and DowDuPont (US) have adopted these strategies to develop their businesses, globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the HTTs market between 2015 and 2016.
Celanese Corporation (US) is a leading player in the global HTTs market. The company, as a major plastics manufacturer, aims to expand its market share and become one of the most innovative companies in the world. As a part of its growth strategy, in 2016, the company acquired SO.F.TER. Group (Italy), a global plastic compounding specialist. With this acquisition, the production of Celanese engineered materials products will increase significantly.
Solvay (Belgium) is the largest HTTs manufacturer in the US and one of the largest worldwide. As a part of its business strategy, Solvay S.A. focuses on new product development and research. The company focuses on the manufacture of high quality products by employing the latest state of the art technology and improving the efficiency of its operations. In 2015, it introduced a new series of pre-colored Radel PPSU resins for use in interior aircraft interior applications. These new high temperature thermoplastic resins have low flammability and heat release and low smoke generation properties. Solvay is expanding globally with its new product development strategy in HTTs market.
Key companies, such as BASF (Germany), Celanese Corporation (US), Solvay (Belgium), Arkema (France), Evonik Industries (Germany), DowDuPont (US), SABIC (Saudi Arabia), Victrex (UK), Royal DSM (Netherlands), and Toray (Japan), are the most active players in the global HTTs market.
Related Reports:
High Temperature Thermoplastics Market by End-use Industry (Transportation, Electrical & Electronics, Industrial, Medical), Resin Type (High Temperature FPs, HPPA, PPS, SP, LCP, AKP, PI), Temperature Range, and Region - Global Forecast to 2022
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