Over 35 billion market! Wanhua Chemical, BASF, Dow ..... The latest developments of coating resin giants

The trend of countries around the world asking for energy, space and food from the ocean has been unstoppable, which has also led to the vigorous development of marine equipment and engineering-related industries, and marine heavy anticorrosive coatings have obtained corresponding development opportunities. According to data from relevant institutions, the market for marine heavy anticorrosive coatings will exceed 35 billion yuan!

Resins/emulsions, which account for about 25% of paint raw materials and 43% of costs, have also attracted great attention, so we will briefly take a look at the actions of 23 leading resin/emulsion manufacturers around the world.

Dow

On March 4, Dow Chemical (Zhangjiagang) Co., Ltd. with an annual output of 120,000 tons of combined polyether polyol product structure adjustment of the technical transformation project environmental impact assessment document was accepted and publicized, Dow will invest 65 million yuan for technical transformation, after the production will provide high-quality combined polyether polyol product production capacity of 32,000 tons / year.

allnex

In January this year, allnex additives team launched a new generation of 100% reactive dispersant ADDITOL® XL 6592, which has excellent corrosion, water and weather resistance and can be widely used in industrial coatings, marine, protective coatings, architectural coatings and inks.

Covestro

In fiscal 2023, Covestro generated sales of 14.4 billion euros, EBITDA of 1.1 billion euros, and a positive free operating cash flow of 232 million euros, with EBITDA expected to be between 1.0 billion and 1.6 billion euros in 2024.

Arkema

With sales of €9.3 billion in 2023, the Arkema Group completes the acquisition of a 54% stake in PI Advanced Materials and expands its plant in Nansha, China.

BASF

BASF generated sales of €68.9 billion and cash flow of €8.1 billion in 2023, up 5.2 percent year-on-year, while sales in the Coatings division increased by 3.9 percent year-on-year to €4.387 billion in 2023. BASF recently announced the renaming of two of its dispersion production plants in China to better reflect the company's diverse product offering for various industries.

Miki

A few days ago, Jiangmen Sanmu built a new 100,000 tons/year synthetic resin series products project to build a 5,000 tons/year acrylic resin production line, a 10,000 tons/year alkyd resin production line, a 10,000 tons/year UV resin production line, and a 75,000 tons/year phenolic resin production line. It is estimated that the total investment of the project is 183 million yuan, the annual output value is about 500 million yuan/year, and the average annual net profit is about 50 million yuan/year.

Changchun Chemical

Changchun Chemical recently put into operation in Zhangzhou, Fujian Province with an annual output of 83,000 tons of engineering plastics, 3,000 tons of phenolic molding compounds, and 3.6 million square meters of flexible copper clad laminate production line project, with a total investment of 260 million yuan, covering an area of 5 acres, a new construction area of 7,239 square meters, and an expansion of 15 plastic production lines.

BATF

BATF recently located in Puyang, Henan Province production base was officially completed, the base covers a total area of 370,000 square meters, the first phase of the construction of an annual output of 550,000 tons of environmental protection new materials, 90,000 tons of environmental protection water-based coating additives production equipment, all completed and put into operation, the annual output value of up to 6.8 billion yuan.

Changxing Chemical

At the end of 2023, Eternal Chemical invested 1.035 billion yuan to build a 197,000 tons/year synthetic resin production capacity in Tongling, Anhui Province, while its Tianjin plant announced the expansion of its fluorocarbon, alkyd and acrylic resin production lines.

Xintema

In January 2024, the construction of Shanghai Syntama Technology R&D Center officially started, and Syntalma will continue to invest in the Chinese market and is quite optimistic about the prospects of the Chinese market.

Wei Silei (Hexion)

In 2022, Westlake Chemical acquired Hexion Chemical's epoxy resin business, and then Westlake Chemical officially changed its name to Weisleigh, and in 2023, Weislei Group ranked 263rd on the Fortune 500 list in the United States. In June 2023, VSL launched a new water-based hybrid epoxy product, which requires two-thirds less amine curing agent than water-based epoxy formulations.

Southern Asia

Founded in 1958 in Taiwan, China, Nanya Plastics is currently a subsidiary of Formosa Plastics Group and is a leading private enterprise in Taiwan. In 2023, Nanya Plastics will invest in a number of projects in various factories in Taiwan and mainland China, which are expected to create an annual output value of more than 4.6 billion yuan.

DIC

Recently, DIC Co., Ltd. has collaborated with Tsukada Riken Industry and Yoshino Denka Kogyo to develop electroplateable polyphenylene sulfide (PPS) compounds.

Guodu Chemical

Korea Guodu Chemical Co., Ltd. began to produce epoxy resins in 1972, and its products are sold to more than 60 countries and regions. Guodu Chemical (Kunshan) Co., Ltd., a wholly-owned subsidiary of South Korea's Guodu Chemical Co., Ltd., is one of the major epoxy resin manufacturers in China, with annual revenues of up to RMB 3 billion.

Wanhua Chemical

In 2023, Wanhua Chemical will achieve operating income of 175.36 billion yuan, an increase of 5.92% over the same period of the previous year, and net profit attributable to shareholders of listed companies of 16.81 billion yuan, an increase of 3.57% over the same period of the previous year.

WACKER

In September 2023, Wacker Chemie expanded its production capacity of specialty silicones at its Zhangjiagang site in Jiangsu Province with an investment of approximately CNY 1.16 billion to build production lines for functional silicone fluids, silicone emulsions and silicone elastomer gels.

Huntsman

In January this year, Huntsman announced that Shanghai Lianheng's joint venture MDI (methylene diphenyl diisocyanate) production unit in Caojing, Shanghai, had been restructured. After the reorganization, Huntsman and Shanghai Chlor-Alkali Chemical will fully own and independently operate one of the MDI production units in Caojing, Shanghai, as well as a supporting MDI hydrogen chloride recovery unit.

The 2024 (9th) International Marine Anti-corrosion and Antifouling Forum will invite experts and domestic and foreign coating companies to discuss the specification requirements and innovative research and development of marine heavy anti-corrosion coatings.

Xuchuan Chemical(Suzhou) Co.,Ltd is a professionl manufacturer for PU System for Shoe Sole, Adhesive for Shoes, TPU, CPU, Polyester Polyol, PU Resin for Ink, PUR Hot Melt Adhesive, Adhesive for Flexible Package, PU Resin For Synthetic Leather.