Industry News

GlyEco to Buy WEBA Technology Corp. and Recovery Solutions & Technologies Inc.

United States: GlyEco, an Arizona based sustainable glycol technologies supplier announced the acquisition plan of Wisconsin based EBA Technology Corp. (manufacturer of antifreeze additives and inhibitors for ethylene glycol based antifreeze and coolants) and Arizona based Recovery Solutions & Technologies Inc. (involved in development and commercialization of glycol recovery technology). This acquisition will be beneficial in terms of management of broad array of ethylene glycol solutions such as production of ASTM E1177 Type EG-1 engine coolant grade ethylene glycol, formulation of additive products to manufacture finished fluids that meet ASTM and industry specifications and direct delivery and pick-up of ethylene glycol in retail setups. As per GlyEco’s Chief Executive Officer and President, Mr. Ian Rhodes, the combined company will also become the first vertically integrated glycol solutions provider across North America.

TechSci Research depicts that this acquisition would strategically drive the ethylene glycol production and its delivery across North America. This would further accelerate the growth of de-icing fluids market across the globe.

According to the recently published report by TechSci Research, “Global De-icing Fluids Market  By Type (Type I, Type II, Type III & Type IV), By Application (Commercial & Non Commercial), By Composition (Ethylene Glycol & Propylene Glycol), By Region, By Company Forecast & Opportunities, 2021”, global market for de-icing fluids is projected to grow at a CAGR of over 5% during 2016 - 2021. Growth in global de-icing fluids market is projected to be underpinned by rising investments by private companies and supportive government initiatives to boost aviation industry across major global economies. North America and Europe accounted for a cumulative share of more than 85% in the global de-icing fluids market, and the dominance of both regions is expected to continue over the next five years. Increasing expenditure on research and development by companies operating in the global de-icing fluids market is anticipated to result in rollout of new products and technologies in the coming years, which is expected to have a positive impact on the global de-icing market. Few of the major players operating in global de-icing fluids market include Clariant International Ltd., The Dow Chemical Company, Kilfrost, Proviron Holding NV, Cryotech Deicing Technology, LNT Solutions, LyondellBasell Industries NV, and Integrated Deicing Services, LLC. 

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