HOME Research Insight New Product Launch was the Key Strategy Adopted by the Leading Players to Grow in the Reactive Diluents Market Between 2013 and 2017



New Product Launch was the Key Strategy Adopted by the Leading Players to Grow in the Reactive Diluents Market Between 2013 and 2017


The reactive diluents market is estimated at USD 818.9 Million in 2017 and is projected to reach USD 1,072.0 Million by 2022, at a CAGR of 5.5% during the forecast period. Companies, such as Hexion (US), Kukdo Chemical (South Korea), Evonik Industries (Germany), Arkema (France), and Cardolite (US), have adopted both organic as well as inorganic strategies, such as new product launches, expansions, and partnerships to efficiently serve customers and increase their market shares.

New product launch was the key strategy adopted by major players in the reactive diluents market. This strategy accounted for a share of 50% of the total growth strategies adopted by the major market players between 2013 and 2017. Companies operating in the reactive diluents market adopted partnership as the second level strategy to expand their regional presence. This strategy accounted for a share of 33.3% of the total growth strategies adopted by the players between 2013 and 2017. Expansion accounted for a share of 16.7% of the total growth strategies adopted by the market players during the same period.

Hexion (US), one of the leading manufacturers of reactive diluents, adopted new product launches and partnerships as its primary growth strategies. The company operates its business through two segments, namely, epoxy, phenolic, and coating resins and forest products resins. Hexion is strengthening its foothold in the reactive diluents market through new product launches. For instance, in 2014, Momentive (former name of Hexion) launched a new coating modifier named CoatOSil FLX, which can improve coating flexibility while maintaining or even enhancing corrosion resistance & gloss retention. This product will further help in mitigating the embrittlement issues often present in silane-cured hybrid coating technologies.

In May 2015, Hexion announced a distribution agreement of epoxy resin with North American Composites, a wholly owned entity of IP Corporation. According to the agreement, NAC will represent Hexion and sell its products, such as epoxy resin, curing agents, and modifiers in the composites market of the US.

Evonik Industries (Germany) is a global player involved in manufacturing of specialty chemical, renewable energy, trading, coal power, and real estate businesses. The company is ranked among the top five manufacturers of reactive diluents, globally. Evonik Industries also adopted new product launches as its key growth strategy in the global reactive diluents market. For instance, in November 2015, Evonik launched two new TEGOPAC reactive diluents. TEGOPAC RD is a silane-modified polymer which is used to lower the viscosity of adhesives & sealant formulations or to develop non-staining adhesives & sealant products. It is used in various applications including flooring adhesives, roof sealing, and assembly adhesives.

Related Reports:

Reactive Diluents Market by Type (Aliphatic, Aromatic, and Cycloaliphatic), Application (Paints & Coatings, Composites, Adhesives & Sealants), and Region (North America, Asia Pacific, Europe, Middle East & Africa) - 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