New Product Launches was the Key Strategy Adopted by the Industry Players to Penetrate the Market and Maintain a Sustained Growth in the Silicone Adhesives Market Between 2016 and 2017.
The increase in demand for silicone adhesives in the end-use industries such as transportation, building & construction, and medical, and others is driving the silicone adhesives market. This has encouraged many companies in the silicone adhesives industry to adopt various development strategies.
New product launches was the key strategy adopted by the industry players to penetrate the market and maintain a sustained growth in the market between 2016 and 2017. This strategy accounted for the largest share of all the strategies adopted by the market players. Some of the leading silicone adhesives manufacturers, such as 3M Company (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Henkel AG & Company (Germany), Avery Dennison Corporation (US), and Dow Corning Corporation (US) adopted these strategies to develop their businesses, globally.
Besides new product launches, the companies have also adopted mergers & acquisitions and investments & expansions as their strategies to expand their market share and distribution network. These strategies accounted for a significant share of the overall growth strategies adopted by the players in the silicone adhesives market between 2014 and 2017.
Wacker Chemie AG (Germany) and Dow Corning Corporation (US) are the most important players of the silicone adhesives market. In the past two years, these companies have adopted new product launches as their growth strategy.
Wacker Chemie AG is a global specialty chemical company headquartered in Munich, Germany. The company is the world’s largest manufacturer of silanes and silicones. The company has its production sites in more than 25 locations in Europe, Asia, and America. In April 2016, Wacker launched a new product range of gels including SILPURAN 2114, 2122, and 2142 at the SAWC Show 2016. These gels are designed to produce adhesive layers which are used in wound dressing and tape products. This launch is expected to increase the company’s foothold in the healthcare industry.
Dow Corning Corporation is a subsidiary of Dow Chemical Company (US). The company manufactures and distributes silicones and silicone-based products and technology. The company offers more than 7,000 products and services which serve the diverse needs of more than 25,000 customers worldwide. In February 2016, the company launched a new range of silicone skin adhesives at MD&M West. These adhesives provide strong, comfortable adhesion to medical devices over extended periods without sensitizing the skin. Such developments are expected to increase the company’s revenue from healthcare industry.
Related Reports:
Silicone Adhesives Market by Type (One-Componant, Two-Componant), Technology (PSA, Non-PSA) End-Use Industry (Building & Construction, Transportation, Medical, Electrical & Electronics), and Region - Global Forecast to 2022
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