Expansion is the key strategy adopted by industry players in order to boost their growth in the EVA market. This strategy accounted for a share of 40.0%, between 2010 and 2015, of all growth strategies adopted. The market for EVA is fragmented which includes different end-use industries using EVA for varied range of applications.
Rising demand for EVA from the footwear & foams industry and new product developments by the market players are paving the way to cater the demand from the customers. Besides expansion, companies adopted the strategy of new product launches by developing new grades of EVA to expand their product portfolio.
This strategy accounted for 20.0% of all developments occurred from 2010 to 2015. The key players have also invested in acquiring other EVA players. In addition, the companies are entering into joint ventures and collaborations from last three years. This strategy also accounted for 20.0% between 2010 and 2015.
Asia-Pacific was the most active region between 2010 and 2015, in terms of strategic initiatives. Expansion was the most preferred strategy in this region. The companies such as LyondellBasell Industries NV (The Netherlands) and E.I. du Pont de Nemours & Co. (U.S.) made several expansions in the region to increase their market share and serve the customers better.
The major manufacturers such as The Dow Chemical Company (U.S.), ExxonMobil Corporation (U.S.), LyondellBasell Industries NV (Netherlands), E.I. du Pont de Nemours & Co. (U.S.), Celanese Corporation (U.S.), Arkema S.A. (France), among others are profiled in this report.
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These companies have adopted both organic and inorganic growth strategies such as expansion, merger & acquisition, joint ventures & collaborations, and new product launches.
E.I. du Pont de Nemours & Co. (U.S.), ExxonMobil Corporation (U.S.), and LyondellBasell Industries NV (Netherlands) are the most active players in the EVA market. These companies witnessed the highest strategy adoptions amongst other players in the global EVA market, of the total activities from 2010 to 2015.
E.I. du Pont de Nemours & Co. (U.S.) is the most active player in the EVA market. It accounted for the largest share of all the developmental activities undertaken in the EVA market. The company increased its EVA production capacity in Asia-Pacific by entering into a joint venture with Beijing Hua Mei Polymer Company Co. Limited Ltd. (China). In addition,, the company also started the production of EVA at the Beijing plant in China, and thus increased its presence in the Asia-Pacific region.
Another company that has established a strong foothold in the EVA market is ExxonMobil Corporation (U.S.). The company is focused on organic growth strategies and has enhanced its product portfolio by launching a sustainable product for packaging operation having 100% Nexxstar EVA in the core layer.