HOME Research Insight New Product Launches, Expansions, Acquisitions, and Agreements as their Key Growth Strategies in the Global PU Elastomers Market



New Product Launches, Expansions, Acquisitions, and Agreements as their Key Growth Strategies in the Global PU Elastomers Market


PU elastomers are the natural or synthetic polymers having elastic properties. These polymers are joined by chemical bonds, acquiring a slightly crosslinked structure. They are widely used in various applications such as footwear, automotive & transportation, industrial machinery, building & construction, and others

The global PU elastomers market is projected to reach USD 16.63 Billion by 2022, registering a CAGR of 5.9% between 2017 and 2022. The increasing demand from the footwear segment, advancements in the TPE processing industry, increasing use in various end-use industries, and increasing purchasing power of consumers are the key factors fueling the demand for PU elastomers around the world. However, fluctuating crude oil price is the key challenges faced by the manufacturers of PU elastomers.

Key companies profiled in this report are BASF (Germany), Dow (US), Huntsman (US), Covestro (Germany), Mitsui Chemicals, (Japan), Chemtura Corporation (US), Lubrizol Corporation (US), P+S Polyurethan-Elastomere (Germany), Tosoh (Japan), and Wanhua Chemical (China). Rapid technological upgradations in the automotive industry, coupled with improving standards of living of consumers in developing regions, have encouraged the companies to adopt several business strategies to stay competitive in the global market between 2015 and 2018. Leading companies have adopted new product launches, expansions, acquisitions, and agreements as their key growth strategies in the global PU elastomers market.

BASF (Germany), one of the biggest PU elastomer manufacturers in the world, has adopted new product launches as its key strategy. For instance, in October 2016, the company launched Elastollan grade B50A12CF that is used for manufacturing of ultra-soft synthetic leather. This leather is highly cut resistant and helps manufacturers meet the stringent Volatile Organic Compound (VOC) standards for applications such as car seats and furniture. This has helped the company in expanding its market share in the automotive application.

Huntsman (US) has considered acquisition as one of its key strategies to stay competitive in the global PU elastomers market. For instance, in May 2017, the company acquired IFS Chemicals Limited (England), which is a leading independent polyurethane formulations company in the UK. This acquisition helps the company strengthen its differentiated downstream capabilities. With this acquisition, the MDI-based polyurethane elastomers manufacturing facilities of Huntsman increased to more than 25 worldwide.

Related Reports:

Polyurethane Elastomers Market by Type (Thermoset Polyurethane Elastomers and TPU Elastomers), Application (Footwear, Automotive & Transportation, Industrial Machinery, Building & Construction), and Region - Global Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports