Market forecast to reach almost $90 billion by 2020
ACC's specialty chemicals index gained 1.9% in May compared with the year-ago period.
Hexion Inc. (Columbus, Ohio) emerged from Chapter 11 bankruptcy protection on 1 July, shedding more than $2 billion in debt.
Standard Lithium (El Dorado, Arkansas) says it has broken ground on its direct lithium extraction demonstration plant at El Dorado, Arkansas.
JSR announced that it has made an additional $15-million investment in Carbon Inc. (Redwood City, California), a company launched in 2013 to deliver innovative 3D printing technology.
Petronas Chemicals Group (PCG; Kuala Lumpur) plans to spend approximately $6 billion over the next 15–20 years expanding its specialty chemicals portfolio through acquisitions and partnerships, says its chief executive, according to a Reuters report.
Neometals (Western Australia, Australia) announced that it has signed an agreement with Manikaran Power Ltd. (New Delhi, India) to jointly fund the evaluation of developing the first lithium refinery in India. Manikaran is a leading power trading and diversified renewable energy company in India.
Specialty chemical earnings were mostly positive as a mixed fourth-quarter earnings season wound down in late February. Prices and volumes grew for Albemarle, Ecolab, and Stepan, with Ecolab largely recouping higher delivered product costs and Albemarle continuing to ride a wave of strong demand in lithium.
The largest market for organic pigments is printing inks, which makes up 45–50% of demand based on volume, according to a recent report by IHS Markit. Coatings consume about 25%, plastics about 10%, and other industries, including textiles, account for the rest.
The flavors and fragrances (F&F) market includes numerous smaller players, many of them family-owned, that operate in a single region and with a focus on a specific niche, such as savory flavors or sports drinks.