Specialty chemicals

Demand for fluorocarbons declines due to COVID-19, consumption to rise in long term

Worldwide fluorocarbon production and consumption in 2019 reached more than 2.11 million metric tons (MMt), up about 21% in total and approximately 2.8%/year from 1.74 MMt in 2012, according to a recent report by IHS Markit.

Umicore's profits shrink on automotive crisis impact; revenue, earnings beat estimates

Umicore (Brussels, Belgium) says its net profits for the first half of 2020 fell by 38%, to €91 million ($107 million) from €148 million in the same period of the previous year.

Seizing the GCC specialties opportunity

Building up the specialty chemicals sector is an opportunity that the chemical industry of the Gulf Cooperation Council (GCC) region should aim to capitalize on, according to a recent report published by the Gulf Petrochemicals and Chemicals Association (GPCA).

Arkema's sales, earnings decline on COVID-19, sees improvement in third quarter

Arkema today reported a decline in second-quarter sales and earnings as the global economy battles against the COVID-19 pandemic.

Clariant's profits, sales decline due to lower demand, negative currency effects

Clariant says its sales in the second quarter of 2020 declined 13%, to 926 million Swiss francs ($1.01 billion) compared with SFr1.06 billion in the same period of the previous year.

Ecolab falls short of estimates as COVID-19 restrictions hit volumes hard

Ecolab today reported net income from continuing operations down 62% year on year (YOY), to $128.9 million, on sales down 15%, to $2.69 billion.

Pharma biotech and nutrition demand boosts Lonza's results

Lonza (Basel, Switzerland) says that its profits for the first half of 2020 increased 21.6% year on year (YOY), to 478.0 million Swiss francs ($516.5 million). Sales went up to SFr3.07 billion, 3.3% more than the SFr2.97 billion recorded in the same period of the previous year, the company says.

Croda reports fall in profits, sales on lower demand; EBIT beats estimates

Croda International (Goole, UK) says adjusted pretax profit in the first half of 2020 decreased 10.1% year on year (YOY), in constant currency, to £152.5 million ($193.9 million), due to lower volumes and adverse product mix.

AkzoNobel's profits, sales fall on sharply lower demand

AkzoNobel says that its net profit in the second quarter of 2020 dropped 44% year on year (YOY), to €129 million ($149 million). Sales went down 19%, to €1.98 billion from €2.45 billion in the same period of the previous year.

Givaudan maintains earnings, sales growth; EBITDA beats estimates

Givaudan (Vernier, Switzerland) says net profit for the first half of 2020 increased 8.8% year on year (YOY), to 413 million Swiss francs ($439.6 million). Sales grew by 4% YOY, to SFr3.22 billion, and EBITDA beat analysts' consensus estimate by 3.7%, increasing 11.3% YOY, to SFr734 million.

Versatility, originality define Delo

Delo (Windach, Germany) says that its expertise in specific applications, flexibility to innovate, business strategy that prioritizes the customer, and continuous search for new niches are key characteristics of a medium-sized specialty chemicals company based in Germany.

Kemira reports higher profits on declining sales, volumes caused by COVID-19; expects lower second-half earnings

Kemira says its net profits for the first half of 2020 went up by almost 16%, to €75.1 million ($85.6 million) compared with €64.6 million in the same period of the previous year.

Lanxess sells membranes business to Suez under water treatment reorganization

Lanxess announced today that it is reorganizing its water treatment portfolio to focus on ion exchange resins, particularly on high-end market applications.

China, Asia to drive growth in demand for high-intensity sweeteners

Worldwide consumption of high-intensity sweeteners (HIS) is expected to increase at an average annual rate of 2.1% in the 2019-24 period, according to a report published by IHS Markit in late March.

DSM and Avril finalize partnership, form JV to produce plant-based protein

DSM says that its previously announced intention to collaborate with the agro-industrial group Avril (Paris, France) was finalized today and that the companies have formed a joint venture (JV), Olatein, to produce a protein based on non-genetically modified canola.

Solenis acquires Mexican water treatment firm

Solenis says it has acquired Poliquimicos S.A. de C.V. (Mexico City, Mexico), a maker of water treatment chemicals for the Mexican market.

AkzoNobel's second-quarter EBIT down 22% but is 33% ahead of consensus

AkzoNobel today provided a further update on recent business performance and announced preliminary financial results for the second quarter of 2020.

EMS reports fall in profits, lower sales

EMS Group (Domat, Switzerland), a producer of high-performance polymers and specialty chemicals, says its provisional net operating income for the first half of 2020 decreased by 27.6% to 229 million Swiss francs ($243 million) compared with SFr316 million in the prior-year period.

Consumer-driven DIY lifts Tikkurila's results

Paints and coatings producer Tikkurila (Vantaa, Finland) has provided an update on its financial performance, with its second-quarter operating profit increasing by 54% year on year (YOY) to approximately €32.5 million ($36.7 million).

Novozymes reports growth in first half despite weaker second-quarter performance

Novozymes has provided a trading update for the first half of 2020 and says it achieved overall organic growth of 4% for the period and an EBIT margin of approximately 27.5%.

Innovation, acquisitions drive Altana

Altana’s (Wesel, Germany) business approach and corporate culture are characterized by investment in R&D to develop innovative products and services that support customers’ needs, and targeted acquisitions that advance the company’s ability to innovate.

PolyOne completes masterbatches acquisition from Clariant, changes name

PolyOne today announced completion of the acquisition of the color masterbatch businesses of Clariant and the Clariant Chemicals India affiliate. PolyOne also announced that it had changed its name and will now be called Avient Corp.

Specialty chemicals industry set for contraction in 2020, recovery in 2021

The negative impact of COVID-19 will be felt in 2020, the industry is expected to rebound in 2021.

BASF: Hygiene market has changed

The way people have reacted to the unprecedented conditions caused by COVID-19 is only the beginning of a new reality that is changing the future of the home-care and industrial and institutional (I&I) cleaning market, according to a recent blog post published on the North American website of BASF’s home care and I&I cleaning solutions business.

Featured data

US demand for specialties continued to improve in June

US specialty chemical market volumes rose 3.6% sequentially in June, compared with a revised 1.2% increase in May, and a record 12.6% sequential decline in April, according to ACC.