POLYOLS AND POLYURETHANE MARKET ANALYSIS

Market News

Mergers and Acquisition

• In October 2022, BASF SE collaborated with Remondis Electro recycling, RAMPF Eco Solutions, and machine and systems manufacturer, KraussMaffei. The project’s objective is to create an industrial method that produces high-quality recycled polyols on par with those made from main fossil raw sources. BASF SE SE, headquartered in Ludwigshafen, Germany, is a leading chemical company with a global presence. The company operates through various segments including chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Remondis is one of the world's largest recycling, service, and water companies. With over 30,000 employees and around 800 business locations across four continents, the group serves more than 30 million people and many thousands of companies. Remondis Electrorecycling is a subsidiary of Remondis, a Germany-based waste management company that provides recycling, waste disposal, and water management services. Remondis Electrorecycling specializes in the treatment of waste electrical and electronic equipment (WEEE) and offers a wide range of services, including waste collection, sorting, and processing.

Recent Developments:

• In November 2021, Shell Chemicals announced an investment in a 35,000 tons per annum polyols unit at Shell Jurong Island, Singapore. Shell Chemicals is the petrochemicals arm of Shell plc, one of the largest petrochemical producers in the world. The company has a wide range of products that include acetone, aromatics, ethylene oxide, ethylene glycols, alkenes, nonene, phenol, polyethylene, polyols, and solvents. Shell Chemicals has been serving its chemicals customers for more than 90 years, and it operates manufacturing facilities around the world, with major locations in the Netherlands, the U.K., and the U.S. In the U.S., Shell Chemical LP, subsidiary produces approximately 20 billion pounds of chemicals annually, which are sold primarily to industrial markets.
• In October 2021, Huntsman Corporation, opened a new 22,000 tons TEROL aromatic polyester polyols factory at its systems house in Kuan Yin, Taiwan
• Huntsman Corporation is a publicly-traded global chemical manufacturer of differentiated and specialty chemicals serving a diverse range of consumer and industrial markets. The company's product portfolio includes polyurethanes, performance products, advanced materials, and textile effects, among others. Huntsman Corporation operates manufacturing facilities around the world, with major locations in the Netherlands, the U.K., and the U.S. The company is committed to sustainability and innovation, and it has launched a technology portal to foster innovation and manufacturing-driven collaborations. Huntsman Corporation is also dedicated to career development and offers a range of opportunities for advancement and continuous learning.
• In August 2021, Huntsman Corporation expanded its production of specialty amines and polyurethane catalysts in Petfurdo, Hungary.