Strategies Major Players are Adopting in Polyurethane 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.

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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.

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Bioplastics & Biopolymers Market: Top Key Players & Growth Analysis

Bioplastics are biodegradable materials that originate from sustainable sources and can be utilized to diminish the issue of debasing plastic waste that is choking out the planet and polluting the earth.
The global market size of bioplastics & biopolymers was USD 2.66 Billion in 2015 and is projected to reach USD 5.08 Billion by 2021. The market is projected to witness a CAGR of 12.0%, in terms of value, during the forecast period. In this study, 2015 is considered as the base year for estimating the market size of bioplastics & biopolymers. The market size is projected for the period between 2016 and 2021.

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This growth is mainly driven by implementation of strict environment regulations to reduce carbon content and fluctuating fuel prices which is compelling manufacturers to use a stable source of raw material.

Europe is the biggest regional segment for the bioplastics & biopolymers market, in terms of value and volume, and also projected to dominate the market till 2021. Russia and the U.K. are projected to witness high CAGR during the forecast period. This is due to focused interest on sustainable packaging, and increased political awareness in Europe about environmental issues, which resulted in the formulation of laws and regulations that have influenced all industries in Europe. Europe has huge growth potential during the forecast period. This growth is attributed to the developing construction sector in this regions and increasing applicability of bioplastics & biopolymers in packaging, bottles, agriculture, automotive and consumer products industries. 

Bio-PET is the major type used in various applications. It is also projected to dominate the market between 2016 and 2021, in terms of both value and volume. On the other hand, PHA, PLA, and Bio-PE are expected to witness high CAGR, by volume, during the forecast period.

Among the various end users of bioplastics & biopolymers, packaging is projected to account for the largest market share during the forecast period. Bioplastics & biopolymers are widely used in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, goods packaging. Moreover, bioplastics packaging is cheaper than glass packaging, wood packaging.  The bottling industry is projected to witness the highest CAGR during the forecast period. Many pioneers in the beverage industry are preferring bioplastics packaging to conventional plastics, and marching toward sustainability. Ever growing agriculture industry is also expected to influence the demand of bioplastics & biopolymers between 2016 and 2021.

Major market participants contributed toward the growth of the market by adopting several organic and inorganic growth strategies. New product launches and partnership, agreements & collaborations are the key strategies adopted by companies such as BASF SE (Germany), Braskem S.A. (Brazil), and NatureWorks LLC (U.S.). These strategies helped the companies to enhance their regional reach and increase product portfolio of bioplastics to meet the application specific demands of the end-use industries. Mergers, acquisitions & joint ventures, capacity expansions, and R&D also contributed toward the growth of the market players.

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Automotive composites Market: Market Insights & Global Forecasts to 2022

Automotive composites are lightweight materials that are used to make vehicles fuel efficient and impact resistant. These composites offer better properties as compared to traditional materials such as aluminum and steel. They result in a significant weight reduction of cars, thereby leading to their increased fuel efficiency. The automotive composites are used in both, electric as well as non-electric vehicles for manufacturing their exteriors, interiors, chassis, and powertrains. In terms of value, the automotive composites market is projected to reach USD 13.14 billion by 2022, at a CAGR of 12.26% from 2017 to 2022.

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The key players operating in the automotive composites market are increasingly adopting inorganic and organic growth strategies to strengthen their positions in the automotive composites market. These companies have adopted agreements, expansions & investments, mergers & acquisitions, and new product developments as key growth strategies between January 2013 and August 2017 to enhance their positions in the market.

For instance, SGL Group (Germany), which is one of the world’s leading manufacturers of carbon-based products and materials, is focusing on strategic approaches, namely, expansions, new product developments, and agreements to enhance its position in the automotive composites market. In October 2015, the company launched unidirectional tapes and long-fiber-reinforced thermoplastics based on glass and carbon fibers for several applications in the automotive industry. Moreover, through SGL Automotive Carbon Fibers (Germany), which is a joint venture of SGL Group (Germany) and BMW Group (Germany), the company has tripled the capacity of its carbon fiber plant in Moses Lake, WA (U.S.). This joint venture has enabled BMW Group to use carbon fiber materials in its car models at competitive costs and in large quantities.

The major players operating in the automotive composites market are Toray Industries, Inc. (Japan), SGL Group (Germany), Mitsubishi Chemical Corporation (Japan), Plasan Carbon Composites (U.S.), Solvay S.A. (Belgium), UFP Technologies, Inc. (U.S.), Toho Tenax Co., Ltd. (Japan), Koninklijke Ten Cate B.V. (Netherlands), Continental Structural Plastics Inc. (U.S.), Gurit (Switzerland), and Owens Corning (U.S.), among others. These companies have an established presence in the automotive composites market and are continuously making efforts to improve their business strategies and their product portfolios. The various key parameters such as geographic footprints, inorganic and organic growth strategies, business revenues, and product offerings, among others are taken into consideration by these players to remain competitive in the automotive composites market.

For instance, in March 2017, Mitsubishi Chemical Corporation (Japan) acquired Gemini Composites (U.S.), which specializes in designing, engineering, and prototyping products using forged composite technology. This acquisition is expected to not only help the company in enhancing its product development capabilities for automotive sheet molding compounds (SMC) components but also enable development of innovative products based on the component design-driven approach. In March 2017, the company developed a carbon fiber sheet molding compound for Toyota Motor Corporation (Japan). This compound is used in the rear door frame of the new Toyota Prius PHV car model. The focus of the company on new product developments has further helped it to supply innovative products to its customers and broaden its carbon fiber materials product portfolio.

Solvay S.A. (Belgium), which is a key manufacturer and provider of automotive composites, has adopted the strategies of partnerships and new product developments to enhance its position in the automotive composites market. For instance, in April 2017, the company entered into a partnership with Bentley and Penso Consulting Ltd. (U.K.) for the development of flexible and lightweight architecture for high-volume applications in automotive. This partnership is expected to enable Solvay S.A. to develop composite solutions to meet the requirements of automotive original equipment manufacturers (OEMs).

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