Specialty chemicals

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Specialty Chemicals Industry

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.

Water-soluble polymer market trends expected to hold despite COVID-19

The outlook for the water-soluble polymers market is positive overall, due to their range of end-uses and competitive prices, says Marifaith Hackett, director/specialty chemicals at IHS Markit.

Coatings makers see long road back from COVID-19 demand hit

Paints and coatings manufacturers say that the demand reduction from the coronavirus disease 2019 (COVID-19) pandemic will mean subdued business activity for the rest of 2020, with automotive coatings particularly hard hit.

Merck KGaA reports strong first-quarter results as COVID-19 boosts healthcare, life sciences

Merck KGaA (Darmstadt, Germany) says organic growth in sales and earnings resulted in a more than doubling year on year (YOY) in net income in the first quarter, to €456 million from €189 million.

IFF beats estimates on broad gains, pulls earnings guidance on COVID-19

IFF today reported first-quarter net income up 14% year on year (YOY), to $124.6 million, on net sales up 4%, to $1.35 billion. Adjusted earnings totaled $1.62/share, ahead of analysts’ consensus estimate of $1.59/share, as reported by Refinitiv (New York, New York).

Saint-Gobain to sell entire Sika stake to institutional investors

French building materials group Saint-Gobain (Paris, France), through its subsidiary Schenker-Winkler Holding AG (SWH), has started to dispose of its entire 10.75% stake in the Swiss construction chemicals company Sika (Baar, Switzerland) through a private placement to institutional investors.

Ecolab sells Holchem to Kersia after divestment order from UK competition regulator

Ecolab says it has sold hygiene and food safety solutions provider Holchem Group (Bury, UK) after its acquisition of Holchem in December 2018 was blocked by the UK’s Competition and Markets Authority (CMA; London).

Under pressure: Specialty chemicals industry braces for intensified COVID-19 impact

The COVID-19 outbreak has had a varied, but mainly negative, impact on the demand for specialty chemicals. Companies have adopted a range of measures to cope with the crisis and they expect the pressure to intensify in the second quarter.

RPM sees spiky demand as COVID-19 pandemic continues

RPM International said in an earnings call today that the company is seeing spotty order patterns and demand as the coronavirus disease 2019 (COVID-19) pandemic disrupts operations and economic conditions.

WPC 2020: China to drive growth in adhesives and sealants market

Ecolab today confirmed that it expects first-quarter adjusted earnings to total $1.05–1.13/share, up 2–10% year on year (YOY) from $1.03/share in the year-ago quarter. The figure includes a negative impact of 5 cents/share from coronavirus disease 2019 (COVID-19).

Givaudan posts higher first-quarter sales on flavors, fragrances growth

Givaudan (Vernier, Switzerland), a leading flavors and fragrances company, has announced first-quarter sales of 1.62 billion Swiss francs ($1.67 billion), a 6.1% year-on-year (YOY) increase.

Novozymes reports higher first-quarter sales, suspends full-year guidance

Novozymes says its overall organic growth for the first quarter was 10% with a preliminary EBIT margin of 29%. The company’s three largest business areas—household care, food and beverages, and bioenergy—each grew 11%.

Specialty Chemicals Industry

COVID-19 has uneven impact on specialty chemicals industry

The coronavirus disease 2019 (COVID-19) outbreak is having an asymmetrical impact on the specialty chemicals industry. The main effect is negative with specialty chemical producers facing huge falls in demand for their products, struggling to keep their plants operating, and facing financial losses.

SOCMA urges all levels of government to keep specialty chemical plants open

The Society of Chemical Manufacturers and Affiliates (SOCMA) on Friday sent a letter to the White House and state governors reinforcing that specialty chemical manufacturers play a critical role in providing essential products to fight the coronavirus disease 2019 (COVID-19) pandemic.

COVID-19: European firms take measures to protect employees

Leading Europe-based companies are taking measures to protect their employees from coronavirus disease 2019 (COVID-19). In Italy, the worst-affected European country, the government on Monday extended its emergency COVID-19 measures, which include travel restrictions and a ban on public gatherings, from northern Italy to include the entire country.

COVID-19: Wacker could see impact of more than €100 million on earnings this year

Wacker Chemie (Munich, Germany) today confirmed its 2019 full-year results, including a net loss of €630 million ($700 million), the largest in the company’s history, on a polysilicon impairment charge of €760 million.

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US specialties volumes declined in April on COVID-19

The American Chemistry Council (ACC) reports that specialty chemical market volumes in the US declined 11.3% sequentially in April, following a 4.0% decline in March.

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