Specialty chemicals

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Specialty Chemicals Industry

Consumption of flame retardants hurt by COVID-19, recovery expected through 2025

Worldwide consumption of flame retardants is expected to rise on a volume basis at an average annual rate of 2.7% during 2019–25, according to the Flame Retardants report, published recently by IHS Markit’s Specialty Chemicals Update Program (SCUP).

Tikkurila board recommends revised bid from PPG, major shareholders will accept

The board of Tikkurila (Helsinki, Finland) says it “unanimously recommends” that the company’s shareholders accept a planned tender offer for the company from PPG Industries.

Elementis projects sequential growth in fourth-quarter sales

Elementis (London, UK) has provided a trading update that projects 2020 adjusted operating profit of $81–83 million. The company also estimates that its overall performance in the fourth quarter was in line with management’s expectations.

IFF targeting 4–5% sales growth as DuPont N&B deal nears close

IFF is aiming for 4–5% annual currency-neutral sales growth through 2023, driven by top positions in a number of end markets and a strong R&D pipeline, the company said in an investor presentation yesterday.

Lanxess in exclusive talks to acquire French biosecurity company

Lanxess says it has entered exclusive negotiations to acquire Theseo (Laval, France), a manufacturer of disinfection and hygiene products used in livestock farming to prevent and control diseases.

Clariant to conclude talks on pigments divestment within weeks, workforce reductions on track

Clariant said today in a presentation to analysts that talks for the previously announced sale of the company's pigments business will conclude in the coming weeks and an agreement is expected to be signed in the second quarter.

PPG to acquire Nordic coatings maker Tikkurila for €1.1 billion

PPG has reached an agreement to acquire Nordic coatings maker Tikkurila (Vantaa, Finland) for approximately €1.1 billion ($1.3 billion) including debt and cash.

M&A remains active in flavors and fragrances industry despite COVID-19

The performance of the major flavors and fragrances companies was resilient in 2020 despite the unprecedented challenges caused by COVID-19.

Specialties weather the storm in 2020

Specialties is the chemical industry sector least affected by the COVID-19 pandemic during 2020 and the segment within which the COVID-19 impact varied the most.

BASF sells Illinois surfactants site to private equity

BASF says it has agreed to sell its Kankakee, Illinois, surfactants site and related businesses to private equity firm One Rock Capital Partners (New York, New York).

Evonik completes adhesive raw material expansion

Evonik Industries says it has expanded capacity for silane-modified polyalphaolefins, a specialty adhesive raw material.

AkzoNobel to acquire US-based yacht coatings maker

AkzoNobel says it has agreed to acquire New Nautical Coatings (Clearwater, Florida), producer of the Sea Hawk brand of yacht coatings.

Minerals Technologies walks away from $1-billion bid for Elementis

Minerals Technologies (New York, New York) will not proceed with a proposed £754-million ($1.01 billion) takeover bid for Elementis (London, UK) after its third all-cash offer, made earlier this week, was rejected.

Wacker names next CEO

Wacker Chemie says it has appointed Christian Hartel CEO, effective 12 May 2021. Hartel, a member of the company’s board since 2015, will replace Rudolf Staudigl, the current president and CEO, who will retire on the same date, Wacker says.

EU conditionally approves DIC's acquisition of BASF's pigments business

The European Commission says it has approved, under EU merger regulation, the proposed acquisition of BASF's worldwide pigments business, BASF Colors & Effects, by DIC Corp. (Tokyo, Japan).

IFF, DuPont Nutrition & Biosciences merger clears antitrust reviews

IFF announced today that it has received all required antitrust clearances for its previously announced combination with DuPont’s Nutrition and Biosciences (N&B) business. The company says the deal remains on track to close in the first quarter of next year.

Clariant to cut up to 1,000 jobs as part of reorganization

Clariant says it plans to "rightsize" its regional organizations and service units, reducing their combined workforce by approximately 1,000, around 6% of the company's total workforce.

Elementis rejects improved takeover bid by Minerals Technologies

Specialty chemicals producer Elementis (London, UK) has rejected a second and improved possible takeover offer from Minerals Technologies (New York, New York) that values the company at £679 million ($905 million).

Arkema readies additional fluoropolymer capacity for Li-ion batteries in China

Arkema says it will start production following a 50% capacity increase for its Kynar fluoropolymer for the lithium-ion (Li-ion) battery business at Changshu, China, in December.

Symrise to acquire Sensient's fragrance, aroma chemicals business

Symrise (Holzminden, Germany) has agreed to acquire Sensient Technologies’ (Milwaukee, Wisconsin) fragrance and aroma chemicals activities, comprising a range of aroma molecules and fragrances from natural and renewable sources.

Specialty Chemicals Industry

Consumption of construction chemicals declines due to COVID-19, growth to return in 2021

Worldwide specialty construction chemicals consumption will expand at a compound annual growth rate (CAGR) of 2.8% on a volume basis in the 2020-25 period, according to the Overview of the Specialty Chemicals Industry report, published recently by IHS Markit’s Specialty Chemicals Update Program (SCUP).

Specialties demand rebounds

Most specialty chemical companies had been expecting their performance to improve in the third quarter of 2020 and many were able to post sequential gains in their quarterly results.

DIY activity boosts demand for decorative paints during pandemic

Decorative paints was one of the specialty chemical segments, alongside nutrition and care, to achieve a strong performance during the first nine months of 2020, with most companies that sell decorative paints products seeing revenue increase on a year-on-year (YOY) basis mainly due to high demand in the do-it-yourself (DIY) market.

US, EU, Germany see negative impact of COVID-19 on specialties; China led the industry in 2019

Chemical industry associations have made data available recently on specialty chemicals production in 2020. The data for this year is currently limited, but the impact of COVID-19 on the production of specialties is negative for the most part.

MBCC Group emerges as a major player

MBCC Group (Mannheim, Germany) is a new leading player in the construction chemicals industry, consisting of approximately 70 legal entities worldwide, a network of global and regional R&D centers, and about 7,500 employees and construction experts across 60 countries.

COVID-19 alters cleaning trends

Companies in the home-care and industrial and institutional (I&I) cleaning business will have to adjust to the new reality created by COVID-19, which has caused consumers to prioritize convenience and e-commerce, and effectivity and stronger cleaners, and has reversed the “chemophobia” trend in cleaning products, according to a recent blog post on the North American website of BASF’s home care and I&I cleaning solutions business.

Polymer catalysts market set to recover

The impact of COVID-19 on demand for polymerization catalysts has been mixed, varying from segment to segment and region to region depending on polymer applications.

Developing markets to boost demand for biocides

The global market value for biocides in 2019 was approximately $7.5 billion, with sales volumes amounting to about 1.7 million metric tons, according to the biocides report, published recently by IHS Markit’s Specialty Chemicals Update Program (SCUP).

Nutraceutical ingredient volumes to grow despite trend toward plant-, animal-based concentrates

Global market volumes of nutraceutical ingredients are expected to grow at an average annual rate of 4.3% during 2019–24, according to the Nutraceutical Ingredients report, published recently by IHS Markit’s Specialty Chemicals Update Program (SCUP).

Harnessing India's specialties potential

Geopolitical events in the past few years such as the US–China trade war, the changing diplomatic and economic relationship between India and China, and the COVID-19 outbreak have significantly disrupted worldwide chemical supply chains but have benefited India’s specialty chemicals industry, according to a recent report published by the Federation of Indian Chambers of Commerce and Industry (FICCI).

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US demand for specialties improved narrowly in November

US specialty chemical market volumes recorded a slight sequential increase of 0.4% in November, down from a revised 1.5% increase in October, according to the American Chemistry Council (ACC).

specialty chemicals industry data

ESG investing and chemicals - Emilio Tenuta