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Resins & Coatings

News Review


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Global Penta market to grow 6,8% until 2018

The global pentaerythritol market was valued at US$1.01 billion in 2011 and is expected to reach US$1.59 billion by 2018, growing at a CAGR of 6.8% from 2012 to 2018, according to a report by Transparency Market Research (TMR).
In terms of volume, the output of the global pentaerythritol market was 485.9 kilo tons in 2011 and is expected to reach 692.9 kilo tons by 2018, growing at a rapid CAGR of 5.3% from 2012 and 2018.
The automotive industry uses pentaerythritol for several applications such as coatings, interiors, and high-grade lubricants. Pentaerythritol is also used in the synthesis of polyurethane foams, which are used in automobile interiors. The booming automobile industries in countries such as India and China are a large contributor to the growth of the pentaerythritol market.
Alkyd paints held the biggest market share in terms of volume in 2011, at 37.6%. These paints are used extensively in the construction industry. As the demand for these paints accelerates in Asia Pacific countries such as China and India due to the growth of construction activity, the alkyd paints segment will expand further. Alkyd inks follow alkyd paints closely. Alkyd inks are massively used in interior décor, automobiles, and coatings. The combined market share of alkyd adhesives and sealants and plasticizers was more than 20% in 2011. Out of these, plasticizers are expected to have the fastest growth rate, at a CAGR of 5.9% from 2012 to 2018. Changing lifestyles in countries such as India and China are dictating the applications of pentaerythritol and the growth of this market.

OLIN to merge with DOW

DOW will separate a significant portion of its chlorine value chain (the U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses) and merge that new entity with OLIN in a transaction that will create an industry leader with revenues approaching $7 billion.
The transaction is valued at $5 billion, and includes $2.0 billion of cash and cash equivalents to be paid to DOW. Olin will be an industry leader in chlor-alkali and derivatives. Expected cost synergies of the transaction include network optimization, which will facilitate output expansion, significant logistics savings and benefits, and the potential for expansion of existing products produced by Olin and Dow into additional geographies and to additional customers.
(Chemical Engineering)

BASF to expand pigment capacity

BASF will expand its capacity for the production of Paliocrom effect pigments by more than 20% by 2017 in Ludwigshafen.
The investment will enable the company to accommodate for the growing demand of its aluminum-based effect pigments in the automotive coatings sector. With an investment of approximately €10 million, BASF aims to strengthen its position in this fast-growing market.
The expansion of the Paliocrom production is being made in view of the recent color trends and the projected rising demand. BASF expects the Paliocrom product group to grow significantly above the general pigment market for automotive coatings.
(Chemical Engineering)

AKZO invests in organic peroxide production

AKZONobel announced plans to invest more than €20 million in its organic peroxide production facilities in Mons, Belgium, and Houston, Texas, in the U.S.
In Mons, the company is introducing new technologies to increase efficiency at the site, which will result in increased capacity. The investment is part of a plan to establish a modern, centralized hub which can serve a broad base of European and global customers more efficiently and effectively.
In Houston, the company is implementing a new site-wide process control system, which is expected to significantly improve capacity and operational efficiencies while positioning the site to meet the increasing demands of U.S. customers.
(Chemical Engineering)

SIKA acquires Construction Technologies Australia

SIKA has agreed to acquire Construction Technologies Australia Pty Ltd (CTA), a supplier of tile adhesives and associated mortar products in Australia.
CTA generated sales of EUR 20.98 million in 2014 and has 51 employees. The CTA plants bring Sika's mortar footprint to 79 factories worldwide. With 31% growth in 2014, mortar is Sika's strongest growing product area as well as one of the key elements of the company's "Strategy 2018".
By acquiring CTA, Sika will extend its manufacturing footprint and considerably leverage its core technology powders/mortars to become a leading supplier in Australia of surface preparation, adhesive and waterproofing products for tiling applications.
The company's 2014 results showed revenues of €1.298 billion, up from €1.239 in 2013 and net profit of €71 million.
(European Coatings)

MOMENTIVE announces 2014 results

Net sales for MOMENTIVE during the twelve months ended December 31, 2014 were $2.48 billion, an increase of 3% compared with $2.40 billion in the prior year. The increase in net sales was primarily driven by an increase in silicones volumes.
At December 31, 2014, Momentive had total debt of approximately $1.2 billion, compared with $3.3 billion at December 31, 2013. The decrease in total debt was due to Momentive's emergence from bankruptcy and the consummation of its plan of reorganization on October 24, 2014.
MOMENTIVE successfully completed a balance sheet restructuring on October 24, 2014, reducing total consolidated holding company debt by approximately $3 billion and increasing liquidity to over $420 million. Recently, the company completed an expansion of the Rayong, Thailand facility serving liquid silicone rubber customers throughout Asia in the automotive, aerospace, energy, healthcare and consumer products industries.

OXEA increases specialty esters prices

Effective April 1, 2015, or as existing contracts permit, OXEA will increase list- and off-list prices on trioctyl trimellitate, dioctyl phthalate and dioctyl adipate by EUR €50/MT.
Oxea is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines.
With more than 1,400 employees worldwide, Oxea generates sales of around €1.5 billion. Owner of Oxea is the Oman Oil Company SAOC.

Reichhold emerges from bankruptcy

Reichhold announced today that the purchase of most of the assets of the U.S. business was completed. This transaction, approved by the United States Bankruptcy Court, allows Reichhold's U.S. businesses to successfully emerge from bankruptcy and re-join the rest of the global Reichhold organization.
"With the support of our new owners, key stakeholders, advisors and the hard work and commitment of our employees, we are pleased that we have successfully navigated this process in a very short time period while operating our business as usual and without interruption. We are appreciative of all who have supported us during the past few months, and as we begin our 88th year, we are as committed as ever to growing our business and improving our industry", said John S. Gaither, President and CEO of Reichhold.
Founded in 1927, Reichhold, with its world headquarters and technology center in Durham, North Carolina, USA, is one of the world's largest manufacturer of unsaturated polyester resins and a leading supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets. Reichhold has manufacturing operations throughout North America, Latin America, the Middle East, Europe and Asia.

SOLVAY moves Business Unit to Seoul

Solvay has established a new global business unit (GBU) for rare earths, specialty chemicals and fluorine. The fluorine business was formerly part of Solvay's aroma performance GBU with net sales of nearly €30 million last year.
The Special Chem GBU, with annual sales of about €850 million (2014) and 3,100 employees worldwide, will be headquartered in Seoul, South Korea. It will be led by Hua Du and reported within the advanced materials operating segment.
Solvay said the move was to simplify and improve the efficiency of its overall group structure.

CEPSA to open new plant in Shanghai

CEPSA's chemical plant in Shanghai will be inaugurated on April 28, and has been one of the biggest projects in its international growth and expansion strategy that it has carried out.
The new plant is located on Shanghai's Chemical Industrial Park, will have an annual production capacity of 250,000 mt of phenol, and 150,000 mt of acetone. The installations will make Cepsa the world's second biggest phenol and acetone producer. The construction of the new plant began in April 2011, and will help to make Cepsa Química's production more flexible with facilities in both Spain and China, as well as consolidating its global position in the petrochemicals market.
Phenol is a raw material with multiple uses across various sectors, from construction to automobiles, and pharmaceuticals. It is used in the production of automobile dashboards, insulation, a huge range of plastics, CDs, bike helmets, wind turbines, solar panels, aspirins and more. Acetone is a bi-product of phenol which works as an excellent thinner for natural and synthetic oils, as well as in the production of resins, rubbers, paint, varnishes and inks, although its most important use is in the production of methyl methacrylate.

DSM establishes new company for composites

Royal DSM and CVC Capital Partners (CVC) announced a partnership for DSM's activities in Polymer Intermediates (Caprolactam and Acrylonitrile) and Composite Resins through the formation of a new company, provisionally called NewCo.
NewCo will continue to supply at least 80% of DSM Engineering Plastics’ caprolactam needs in Europe and North America for the coming 15 years via a drawing rights contract, effectively maintaining DSM Engineering Plastics’ backward integration.
NewCo will operate as an independent company with three business units: caprolactam, acrylonitrile and composite resins. Pro-forma third party sales of NewCo amounted to €2.1 billion in 2014 with an EBITDA of €106 million.
Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 25,000 employees.

Conference & Exhibition : UTECH Europe 2015

UTECH Europe 2015 will once again be held at the MECC in Maastricht and is the leading international event for the polyurethanes industry. UTECH 2012 attracted just over 3,500 decision makers from 86 countries. The 2015 event, comprising a strategic conference and international exhibition, will be bigger and busier than ever.
UTECH Europe 2015 is the leading international exhibition & conference for the global polyurethanes industry and features leading companies from a broad cross section of the polyurethanes industry, during 14-16 APR, in Maastricht, Netherlands. Featuring over 90 detailed technical papers delivered in a total of 11 sessions, the UTECH Europe conference will cover the latest developments in the world of polyurethanes and reveal unique insights into the global market.

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The Resins & Coatings News Review by ANDRIANOS Chemicals is a weekly newsletter offered freely to all subscribers, since 2006. News covered include new products, new technology, M&A, J/V, price changes (affecting European market), market analysis and historical facts of the European and global resins & coatings chemical industry. Subscribe to our free weekly newsletter.
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News are listed from various sources, as quoted above, aggregated by agents ANDRIANOS Chemicals, Athens, Greece.