ESTERS MARKET ANALYSIS

Market News

Global Esters Market: Key Developments

In January 2023, a Chemical company BASF SE, has made its initial financial information for the entire year 2022 available. The projected 2022 sales of US$95, 231 million and operating income (EBIT) of €7, 531 million before special items are in line with BASF's forecast ranges and the level of analyst consensus estimates

In May 2023, Montana Renewables, LLC (MRL), an unrestricted subsidiary of Calumet Specialty Products Partners, L.P., hosted significant aviation stakeholders, including Montana Governor Greg Gianfort, as part of a multi-year agreement with Shell Trading (US) Company ("Shell"), to commemorate the first production and initial shipments of sustainable aviation fuel (SAF). As soon as production begins, Montana Renewables surpasses all other producers of SAF in North America.

In May 2023, the company that develops, produces, and sells specialty chemicals, Croda International Plc (Croda), has signed two new partnership agreements. The first partnership is a contract for an exclusive license with Amyris, a major synthetic biology company. The second partnership is with Botanical Solutions Inc. (BSI) to create a QS-21 vaccine adjuvant of pharmaceutical grade. These agreements will help the pharmaceutical industry create a more sustainable vaccine adjuvant supply chain.

In November 2022, Food Warming Equipment Company, Inc. (FWE), a manufacturer that specializes in heated holding cabinets, cook & hold ovens, smokers, refrigerated cabinets, transport carts, and others, was acquired by Hatco Corporation, a U.S.--based company which provides Commercial Foodservice & Restaurant Equipment.