Industry News

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.

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