New Product Launches, Mergers & Acquisitions, Joint Ventures, Expansions, and Agreements are Among the Key Strategies Adopted by Industry Players to Achieve Growth in the Performance Additives Market
Increasing industrial developments, technological advancements, and demand for products with excellent processability, performance, and appearance have led to the high demand for performance additives from various end-use industries, such as packaging, automotive, household goods, construction, and wood & furniture.
New product launches, mergers & acquisitions, joint ventures, expansions, and agreements are among the key strategies adopted by industry players to achieve growth in the performance additives market. These strategies accounted for a significant share of the overall growth strategies adopted by the market players between 2013 and 2017. The key market players include BASF SE (Germany), Evonik Industries AG (Germany), Clariant (Switzerland), Arkema SA (France), Solvay S.A. (Belgium), and Huntsman International LLC (U.S.).
Arkema SA is a leading player in the global performance additives market. The company, as a major performance additives manufacturer, aims to expand its market share to become one of the most innovative companies in the world. As part of its growth strategy, in 2016, Arkema expanded its powder coating additives manufacturing in India. The company started a new leading class polyester powder resin manufacturing facility, on its existing resin platform in Navi Mumbai, Maharashtra (India). This new facility, which complements existing manufacturing sites in Europe and North America, helped the company enhance its geographical presence and in promoting sustainable performance additives technologies.
Evonik Industries AG is one of the largest manufacturers of performance additives worldwide. The company focuses on new product development and research, emphasizing on the manufacture of superior quality products by employing the latest state-of-the-art technology and improving the efficiency of its operations. For instance, in February 2017, the company launched two new substrate wetting additives, TEGO Wet 285 and 550, which are specifically developed for printing on food packaging. TEGO Wet 550 enhances process reliability and achieves high-quality printing results owing to its excellent substrate wetting properties.
BASF SE (Germany), AkzoNobel N.V. (Netherlands), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Altana AG (Germany), Clariant (Switzerland), Honeywell International, Inc. (U.S.), The Dow Chemical Company (U.S.), Lanxess (Germany), Arkema SA (France), Huntsman International LLC (U.S.), Wacker Chemie AG (Germany), Covestro AG (Germany), and Eastman Chemical Company (U.S.) are among the most active players in the global performance additives market.
Related Reports:
Performance Additives Market by Type (Plastic Additives, Paint & Coatings Additives, Pigment Additives, Ink Additives), End-Use Industry (Packaging, Household Goods, Automotive, Industrial, Construction), and Region - Global Forecast to 2021
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