TPE Market - Acquisition is the Key Strategy Adopted by Market Players
The report "TPE Market by Type (SBC, TPU, TPO, TPV, COPE, PEBA), End Use Industry (Automotive, Building&Construction, Footwear, Wire&Cable, Medical, Engineering), Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2026", The global thermoplastic elastomers market size is estimated to be USD 19.9 billion in 2021 and is projected to reach USD 26.3 billion by 2026, at a CAGR of 5.7% between 2021 and 2026.
The major industry players are adopted acquisitions, expansions, joint venture, and new product development as growth strategies in the last four years. The leading players in the market are Arkema S.A (France), Asahi Kasei Corporation (Japan), BASF SE (Germany), The Dow Chemical Company (The U.S), Covestro AG (Germany), Huntsman Corporation (The U.S), Teknor Apex Company (The U.S), Lubrizol Corporation (The U.S), Tosh Corporation (Japan), Kraton Corporation (The U.S), China Petroleum and Chemical Corporation (China), Mitsubishi Chemical Company (Japan), DuPont (The U.S), SIBUR (Russia), Evonik Industries AG (Germany), Dynasol Elastomers (Spain).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1012
Arkema is involved in the manufacturing and sales of several chemical products that find applications in consumer goods, paint & coatings, building & construction, automotive & transportation, electronics, energy, and other industries. The company operates business through four segments: adhesive solutions, advanced materials, coating solutions, and intermediates. The company offers thermoplastic elastomers under the advanced materials division. Arkema has 144 production facilities and presence across 55 countries.
BASF SE is chemical conglomerate and has a strong presence across the globe. The company supplies its products through 11 divisions, which are grouped into six segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, and agriculture solutions. The company has a broad portfolio comprising 75 strategic business units. It produces thermoplastic elastomers under the performance material division, within the materials segment. The company operates 6 Verbund sites and 241 production sites across 90 countries. The Verbund concept allows the company to fully integrate the production process, technology, distribution channel, and recently the digital channel; to create efficient value chains that help in saving raw material cost, improve product yield, minimize emission, and lower logistic costs.
Get 10% FREE Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1012
The TPE market in 2020 declined by 18.2%, in terms of volume, compared to 2019 due to the COVID-19 pandemic. Import and export of TPE decline due to government restriction and decline in the demand. The production of automobile was halted due to disruption in the supply chain. With the declining production of automobiles, the demand for TPE also decreased.
The companies have initiated the following developments:
- In January 2020,Arkema SA acquired LIP Bygningsartikler AS (Denmark), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions. The acquisition will strengthen Arkema’s strategy to continuously grow its adhesives business.
- In March 2020, Asahi Kasei Corporation acquired Veloxis Pharmaceuticals Inc. (US). This acquisition will strengthen the presence of the company in the pharmaceutical sector.
- In January 2020, BASF acquired the global, non-European PA6.6 business from Solvay (Belgium) including its 50% share in Butachimie’s adipodinitrile (ADN) production. The price of the acquisition was USD 1.53 billion. The acquisition will broaden BASF’s polyamide capabilities with innovative and well-known products such as Technyl.
Comments
Post a Comment