Evonik Industries AG plans to acquire Performance Materials Division of Air Products and Chemicals, Inc.
China: Evonik
Industries AG, a Germany based manufacturer
of specialty chemicals announced that it will acquire specialty & coating additives
business of US based Air Products and Chemicals, Inc. The acquisition is
expected to be completed by the end of 2016 and the company will acquire the
business for USD3.8
billion. The acquisition will strengthen Evonik’s position in the specialty
& coating additives business by expanding its product portfolio. Through
this acquisition, the company will serve the growing markets of coating and
adhesive additives, high-value PU foam additives, and specialty surfactants for
industrial and institutional cleaning.
TechSci Research depicts that
the rising demand for specialty & coating additives in the North
America market will boost demand
for Evonik’s specialty & coating additives and reduce company’s dependence
on the European market.
According to TechSci
Research report “Global
Pigments Market, By Type (Inorganic, Organic and Specialty), By Application (Paints and
Coatings, Plastics, Printing Inks, Construction and Others), Competition
Forecast and Opportunities, 2011 – 2021”, the global pigments market size is estimated to cross
US$ 34 billion by 2021. The demand for pigments is anticipated to be largely
influenced by paints & coatings industry and construction sector, which are
witnessing steady growth on account of rising purchasing power of consumers and
expanding middle class population across the globe, especially in major
developing economies.