SONGWON's strategic mergers and acquisitions and the establishment of new production facilities globally points to its eagerness to deliver top value to customers
LONDON, Sept. 29, 2017 /PRNewswire/ -- Based on its recent analysis of the polymer stabilizers (PS) market, Frost & Sullivan recognises SONGWON International AG with the 2016 European Frost & Sullivan Award for New Product Innovation. SONGWON's development of new stabiliser packages such as SONGXTEND®1301 underscores the company's approach to product innovation and business development.
SONGWON anticipated the increased adoption of polymeric flame retardants (FR) in the market, with hexabromocyclododecane (HBCD) being included in the list of substances of very high concern (SVHC). In response, it developed the SONGXTEND® 1301 specifically for use in extruded polystyrene (XPS) containing polymeric FR. Its stabilizer package does not impede the performance of polymeric FR, evident from the limiting oxygen index (LOI) of 25.5% for the stabilized package, 25% for unstabilized polystyrene (PS), and 18% for virgin PS.
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"The company has expanded its SONGXTEND® range with the second-generation SONGXTEND® 1301 stabilizer solution that maintains the molecular weight and colour of XPS, as well as offers a broader processing window to customers," said Frost & Sullivan Senior Research Analyst Vinay Venkatesan. "Furthermore, SONGWON has widely commercialised SONGXTEND® high heat stabilization packages and SONGXTEND® polypropylene fibre and thin wall injection moulding stabilization packages."
Customers prefer stabilizers in granular, pellet, bead, and liquid forms instead of powders, as they are difficult to handle and pose health hazards for workers on site. SONGWON's product development strategy in the polymer stabilizer market is aimed at improving the handling experience; its introduction of SONGNOX® PQ SB and SONGNOX® 1162 FF triple blend is testament to this vision. The SONGNOX® PQ SB phosphite antioxidant has established SONGWON as a leader in the solid phosphite antioxidants market in terms of coverage. Based on the same formulation as SONGNOX® PQ, SONGNOX PQ SB is presented in a semi-bead form that simplifies customer handling.
Overall, the customisable SONGNOX® one pack systems (OPS) are a combination of several additives manufactured by customers' request, integrated into dust-free and robust pellets. This reduces the number of additives to be added by customers and provides superior control over the dosage of additives, besides ensuring a cleaner working environment.
SONGWON is constantly looking for opportunities to expand its technological expertise. In line with this goal, it acquired Additives Technology Greiz (ATG), one of the largest producers of OPS, and SeQuent Scientific's specialty chemicals business that helped it develop the SONGNOX® PQ formulation in the semi-bead form. SONGWON also recently expanded its global OPS manufacturing footprint by opening a new manufacturing facility in Abu Dhabi. It has identical production technologies in Greiz, Germany and Houston, Texas, USA and is now focusing on strengthening its overall presence in China.
"SONGWON has an extensive line of products for a wide range of customers such as polymer manufacturers, converters, and masterbatch manufacturers," noted Venkatesan. "The addition of the SONGXTEND® range of polymer stabilizers to the already successful product line comprising the SONGNOX® range of antioxidants, the SONGSORB® range of ultraviolet absorbers, and the SABO®STAB range of hindered amine light stabilizers has enabled the company to entrench itself in the market."
Customer value is a key driver of SONGWON's business strategy in the price-sensitive European polymer stabilizers market, where lower lead time and ad hoc product delivery influence purchase decisions. SONGWON has done a remarkable job of understanding these customer needs and developing an innovative product to address them.
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leverage leading-edge technologies. The award recognises the value-added features/benefits of the product and the greater ROI it offers customers, which, in turn, improves customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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