The Thermoplastic
Elastomers Market is projected to reach USD 28.27 billion by 2022,
at a CAGR of 5.2% from 2017 to 2022. Thermoplastic elastomers have properties
of both, plastics as well as elastomers. They can be molded easily at room
temperature by heating them.
Get Download Free PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=1012
The
strategy of new product developments was the key strategy adopted by the
leading players in the thermoplastic elastomers market between 2014 and 2016 to
strengthen their position in the market. It was followed by the strategy of mergers
& acquisitions. Some of the leading players operating in the thermoplastic elastomers
market are Arkema SA (France), Asahi Kasei Corporation (China), Covestro AG (Germany), Evonik Industries AG
(Germany), Kraton Corporation (U.S.), Lubrizol Corporation (U.S.), LyondellBasell
Industries N.V. (Netherlands), PolyOne Corporation (U.S.), Sinopec Group (China),
Teknor Apex Company (U.S.), The Dow Chemical Company (U.S.), and Tosoh Corporation
(Japan). Besides new product developments, the companies operating in the
thermoplastic elastomers market also adopted the strategies of mergers &
acquisitions, expansions, joint ventures, and agreements to expand their
product portfolios, strengthen their distribution networks, and extend their
reach to their customers.
Teknor
Apex Company has adopted various organic and inorganic growth strategies, which
include new product developments, acquisitions, collaborations, and partnerships
to enhance its position in the thermoplastic elastomers market. Teknor Apex has
developed and launched thirteen new products in the thermoplastic elastomers
market from February 2014 to February 2017. In September 2016, Teknor Apex
collaborated with FGH Systems Inc. to develop material, equipment, tool, and
mold technologies for high-volume extrusion blow molding of thermoplastic
elastomers. In April 2016, Teknor Apex acquired Plastic-Technologie-Service
(PTS), which is a thermoplastic elastomer manufacturer, and expanded its
presence in the European region. Teknor Apex entered into a partnership with Gumdrop
Ltd. in October 2016 to start a sustainability program for converting chewing
gum wastes into raw materials used for manufacturing thermoplastic elastomers
named as Gum-Tec.
Lubrizol
Corporation developed and launched eight new products into the market between
January 2015 and January 2016. It also adopted the strategies of acquisitions, agreements,
and partnerships to strengthen its position in the thermoplastic elastomers
market. The new products launched by the company cater to the requirements of
various end-use industries such as footwear, automotive, filtration, apparel
interlinings, textiles, sports goods, and packaging. In 2014, it acquired Vesta,
which is a leading contract manufacturer of thermoplastic products used in the
medical devices industry. This acquisition enabled Lubrizol to broaden its
material and application portfolio.
No comments:
Post a Comment