BASF is an expanding and growing chemical company that is based world wide. With growing recognition for their products, BASF has been expanding and reaching a wider market place then in the past. The major change for BASF was the take over of American Cyanamid and Takeda companies. BASF has managed to focus its efforts on non-cyclical products to broaden its market base and increase the company’s growth potential globally. The diversification and innovative technologies used by BASF has enabled it to sustain a large market presence, particularly in the non-cyclical product areas such as vitamins, crop protection, petrochemicals and plastics and fibers.
In the past, vitamin companies were involved in a scandal with price fixing. The scandal resulted in a loss in the market for all natural vitamins and many pharmaceutical products. When BASF took over American Cyanamid the companies were able to produce herbicides that were competitive in price and betterment of crops. Using this new process enabled BASF to get a jump on the vitamin competitors because the company was offering modified crops that were resilient against plant diseases, mildew and other harmful environmental factors.
With the higher yielding plants, BASF is able to derive natural and quality ingredients needed to produce the vitamins and other pharmaceutical products. Global competitors such as Roche have been challenged and no longer can claim the majority of the market with BASF’s innovative technologies as the new competition.
With growth and innovative technologies, BASF has been able to increase its market value for the vitamins and pharmaceuticals while decreasing the operating costs for the products. This change in growth instills an even stronger presence in the market place for BASF. Many of the primary ingredients that go into vitamins and nutritional supplements are produced by BASF thus reducing cost and making the company yield higher volumes of the products.
In addition to crop protection, pharmaceutical plans and vitamin mergers, BASF has also focused its attention on the sale of petrochemicals. BASF merged as a very strong market force for its colorants and finished products used in the automotive industry. In this division of BASF record sells were achieved and anticipated to only increase in the following months and years. BASF colors are of lasting quality and used as the primary protective coating for car dealers. In addition, petrochemicals created by BASF have been used as safe and environmental friendly cleaning agents.
Complimenting the development of environmentally friendly and easily disposable petrochemicals, BASF has used its innovative technologies to capture a wide range of the plastics and fibers market. Many of BASF plastic and fibers are used as household products as well as in major companies. Many of the plastic and fiber products manufactured by BASF are used for safe and quality packaging materials. BASF focuses its efforts on producing plastics and fibers that are cost efficient to use for packaging materials as well as biodegradable has given BASF a jump on the market competitors for this part of the global market.
As BASF continues to expand its resources into producing innovative and environmental friendly products, BASF is sure to do nothing but grow as a company. Instead of focusing its investments and technologies strictly in one area, the company’s diversity enables BASF to obtain a substantial amount of profits in its non-cyclical parts of its operations.
The company’s growth has been boosted tremendously. The protection of crops, vitamin and pharmacy mergers, marketing of petrochemicals and increased environmentally friendly plastics and fibers has enabled BASF to not only be a diversified but also a competitive global company within the market place.