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Geographic expansion has been the strategy adopted by companies in order to increase their industry foothold. For instance, In July 2018, Kuraray entered into a contract with PTT Global Chemical Public Company Ltd. and Sumitomo Corporation to establish a joint venture company, Kuraray GC Advanced Materials in Thailand. This would help the company to expand its geographical presence and boost the isoprene rubber latex market growth strategy.
The industry ecosystem is fairly consolidated with major players accounting for a dominant share of the business in 2019. Key operating in the isoprene rubber latex industry includes: