AkzoNobel Completes Expansion of Organic Peroxides Business
AkzoNobel has concluded the development of organic peroxides production
facility in Mexico.
Mexico: AkzoNobel,
a Netherlands based manufacturer and supplier of plastic and rubber chemicals,
has completed the expansion of its organic peroxide production facility situated
at Los Reyes, Mexico for a sum of USD23.14 million. This new production
facility will produce organic peroxide under the brand name ‘Laurox’, which would
be further used as key substrate in rubber and plastics product manufacturing
industries. Earlier in 2015, the company planned to invest more than USD89.40
million for upgrading technologies and for facility development to provide
better services to its customers in polymer industry. Moreover, through this
strategic expansion, the company would be able to cater the growing global demand
for organic peroxide, thereby strengthening its footprint in global organic
peroxide industry.
TechSci Research depicts that this new manufacturing plant would aid AkzoNobel to
boost its position, enhance its customer base and improve its product
offerings, especially in North America region. Since organic peroxides are
widely used as crosslinking agent in elastomers, polymers and other plastic
& rubber products manufacturing industry, this facility would help the
company to address the growing global demand for tire chemicals.
According
to a recently published report by TechSci
Research, “Global Tire Chemicals Market By Type, By Tire
Category, By Region, Competition Forecast & Opportunities, 2011-2025”,
the tire chemicals market is projected to surpass 42.58 million tons by 2025,
on account of accelerating demand for highly durable tires majorly by passenger
cars, medium & heavy commercial vehicle and OTR tires segment. Tire
chemicals are of various types such as, natural rubber, synthetic rubber,
accelerators, plasticizers, stearic acid, etc. Moreover, Natural rubber and
synthetic rubber were the two leading tire chemicals in global tire chemicals
market in 2015, and this trend is expected to continue through 2025, as natural
rubber and synthetic rubber accounts for more than 50% consumption in global
tire industry.