Industry News

AdvanSix Carves Out of Honeywell International, Inc

United States: AdvanSix Inc., a well-established manufacturer and distributor of nylon 6 polymer resins, was launched as a standalone enterprise post its successful spin off from United Sates based Honeywell International, Inc., a leading technology provider and chemicals manufacturing company. The shares of AdvanSix will be traded on the New York Stock Exchange. Erin Kane will serve as the new President and CEO of the independent company. This standalone business would help AdvanSix pursue new growth opportunities and expand its footprints in other business segments including production and sale of by-products, such as caprolactam, ammonium sulphate fertilizer, acetone and other intermediate chemicals which are used in production of Nylon 6. Additionally, the company’s production facility at Hopewell, Virginia would serve as a single site manufacturer of caprolactam.

TechSci Research depicts that the launch of AdvanSix as an independent company would strengthen the position of the company in the nylon 6 industry and enable the company to cater to the growing demand for nylon 6 across various industries, such as engineered plastics and fibers, which are used in manufacture of electronic components, carpets, sports apparel, food and industrial packaging. Expanding nylon 6 production would positively impact the global sales of benzene, which is used for production of nylon 6 polymer.

According to the recently published report by TechSci Research, “Global Benzene Market Forecast and Opportunities, 2020”, global benzene market is expected to surpass 46MMT by 2020 on account of continuously increasing demand from various industries using benzene derivatives in their manufacturing processes. Shale gas evolution in the US has increased the availability of ethane, which is a light feedstock used for cracking process. The use of lighter feedstock is hampering the yield of benzene and leading to a tight demand/supply scenario in the global market, due to which the market has become highly competitive and all major players are investing in R&D to improve the quality and properties of the product. The major players operating in global benzene market include ExxonMobil, Shell Chemicals, and Sinopec Corporation, among others.

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