The market for rigid foam has been growing rapidly due to its excellent combination of properties such as energy conservation, high mechanical strength, along with the lighter weight as compared to other foams. Rigid foam plays an important role in modern building & construction, automotive, packaging, and other industrial applications due to its efficient thermal insulation properties. Moreover, key players operating in the rigid foam market have adopted various strategies to strengthen their positions. Investments and expansions were the key strategies adopted by leading players to achieve growth in the rigid foam market between 2013 and 2017.
In addition, investments and expansions, new product launches, mergers & acquisitions, partnerships & collaborations, and agreements were the other strategies adopted by companies to increase their shares in the rigid foam market and to strengthen their distribution networks.
BASF SE (Germany), The Dow Chemical Company (U.S), Huntsman Corporation (U.S.), Covestro AG (Germany), JSP Corporation (Japan), Borealis AG (Austria), Sealed Air Corporation (U.S.), Armacell International S.A (Luxembourg), Nitto Denko Corporation (Japan), Woodbridge Foam Corporation (Canada), DS Smith Plc (U.K.), Kaneka Corporation (Japan), and Zotefoams Plc (U.K.) are some of the leading players operating in the rigid foam market.
BASF SE (Germany) is one of the leading companies in the rigid foam market. The company offers various types of rigid foam such as polyurethane, polyethylene, and polystyrene. The company is focusing on various strategies to increase its shares and strengthen its position in the rigid foam market. To maintain and enhance its market position, the company has focused on research and development to develop new products. For instance, in 2016, BASF SE expanded its portfolio with ecovio EA, the first expandable, closed-cell foam. The company has also created a global network of affiliates and production sites to enhance its product reach, maximize its customer base, and reinforce its leading position in the market.
In 2016, JSP Corporation (Japan) completed the construction of the Expanded Polypropylene (EPP) plant at JSP Foam Products in Thailand with an annual production capacity of 1,800 tons. The new facility will help to cater the increasing demand for ARPRO products in the automotive and other applications.
In 2013, Huntsman Corporation (U.S.) acquired Oxid L.P., (U.S.), a manufacturer of specialty urethane polyols (raw material for the manufacture of polyurethane insulation products) based in Houston, Texas (U.S.). It is a major raw material utilized to manufacture polyurethane foam used in insulation for walls, roofs, refrigerators, and various other applications. This acquisition has helped the company to strength its downstream capability and have a stronghold on the North American market.
Rigid Foam Market by Type (Polyurethane, Polystyrene, Polyethylene, Polypropylene, Polyvinyl-Chloride), End-Use Industry (Building & Construction, Appliances, Packaging, Automotive), Region - Global Forecast to 2022
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