LONDON, July 8, 2013 /PRNewswire/ -- Based on its recent research on the polyamides market, Frost & Sullivan presents RadiciGroup Plastics with the 2013 European Frost & Sullivan Product Line Strategy Leadership Award for the new polyamide resins it has introduced under the flagship Radilon® brand.
RadiciGroup Plastics' provides more than 100 different grades of both standard and specialty polyamide solutions to Tier-I and Tier-II suppliers as well as original equipment manufacturers (OEMs) across diverse industries such as automotive, electrical & electronics, solar energy, and railways. The breadth of its product line combined with superior technical support, validation, and joint development collaborations, places RadiciGroup Plastics' product line in the vanguard of the industry.
"Frost & Sullivan research anticipates the high performance polyamides market to grow at an average rate of 6 to 7 percent per annum and RadiciGroup Plastics is well prepared to capitalize on this opportunity," said Frost & Sullivan Industry Analyst Sandeepan Mondal. "Focused on innovating cutting-edge materials and consistently reducing product development time, the company is proving itself capable of providing economically feasible solutions for technically challenging, high-performance polymer needs in various industries."
RadiciGroup Plastics owns large-scale manufacturing capabilities in both polyamide monomer production and compounding. Because of the monomer commonality and high frequency of information exchange between divisions, the company finds it easy to realize not only backward integration advantages but also faster time-to-market for products. All divisions within the company (yarns, plastics, and chemicals) are highly integrated, helping it to efficiently manage costs, reduce product development time, and enhance flexibility in providing both standardized and specialty materials.
RadiciGroup also judiciously chooses partners to co-develop and commercialize new products. The strategy helps reduce risks due to demand uncertainty and high product development costs. It introduced a series of new polyamide resins primarily targeted at the automotive, industrial, and home appliance end-markets in late 2012, providing attributes such as exceptional resistance to heat and ageing, high metal and thermoset replacement potential, and high biorenewable content.
"Since RadiciGroup Plastics is capable of delivering a new polyamide product from the conception stage to the commercialization stage in a record two to three years compared to the industry average of four to five years, the company's new product development strategy creates rapid gains through faster development-to-market times of new polyamide products," noted Mondal. "As a result, the company is expected to gain market share on the back of new product innovation and the extension of its product line not only in its well-established markets like automotive but also in emerging ones like home appliances and solar energy."
In recognition of the outstanding performance attributes of RadiciGroup Plastics' products and the robust strategy behind its focussed innovation, the company is the worthy recipient of the 2013 Frost & Sullivan Product Line Strategy Leadership Award in the European polyamides market.
Each year, Frost & Sullivan presents this award to the company that has developed a comprehensive product line that caters to the breadth of the markets it serves. The award recognizes the extent to which the product line meets customer base demands, the overall impact it has in terms of customer value as well as increased market share.
Frost & Sullivan's 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 in order to identify best practices in the industry.
About RadiciGroup Plastics
In the plastics industry, RadiciGroup is one of the most highly regarded manufacturers of polyamide engineering plastics. With six plants strategically located in Italy, Brazil, United States, Germany and China, RadiciGroup Plastics can cover the needs of its global customers through an outstanding range of materials that cover all the main markets needs. RadiciGroup Plastics offer advanced application development support focusing on product specialties and supporting the implementation of strategic programs, including metal replacement, through the expertise and enthusiasm of its employees. A network of sales units – with a strong presence in Italy, Germany, France, Spain, Great Britain, the USA, Brazil, China and India – makes RadiciGroup Plastics a truly global organization, capable of meeting the needs of its customers worldwide on a timely basis. www.radicigroup.com/plastics
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SOURCE Frost & Sullivan