Air Products Completes $3.8 Billion Performance Materials Division Sale to Evonik

INK WORLD MAGAZINE | January 5, 2017

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Air Products has completed the sale of its Performance Materials Division (PMD) to Evonik Industries AG (EVK.DE) for $3.8 billion in cash. The agreement to sell PMD to Evonik, a world leader in specialty chemicals, was initially announced in May 2016.

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Center for Biorenewable Chemicals (CBiRC)

The NSF Engineering Research Center for Biorenewable Chemicals is focused on biobased chemicals and materials. With more than $5m annual investments in R&D, CBiRC is developing a path from biomass to an array of chemical intermediates that will form the foundation for a new industry producing biobased chemicals, surfactants, polymers, resins, cosmetics, adhesives, paints, coatings, dyes, sealants, food additives and specialty chemicals.

OTHER ARTICLES

Global polyethylene demand boom likely, increasing the sustainability challenge

Article | June 15, 2021

IT FEELS LIKE several lifetimes ago. If you recall, way back in November-December 2019 Asian variable cost integrated naphtha-based polyethylene (PE) margins turned negative because of the increase in US capacity. Then in January the following year, deep Asian and Middle East operating rate cuts returned some order to the market. Then, bang, as we all know, the pandemic arrived and turned everything on its head. The pandemic has, in my view, accentuated trends that were already well underway. I believe this means that the supply-driven downturn that started in late 2019 will not return.Long before coronavirus upended everyone’s lives, PE demand was becoming increasingly divorced from GDP growth because of the shifting nature of end-use demand. Booming internet sales was, I believe, a major factor behind the split between the growth of the overall economies in the developed world plus China and PE demand.The average product bought online is dropped 17 times because of the large number of people involved in the logistics chain, according to Forbes. This had led to a surge in demand for protective packaging made not from PE and other polymers such as polypropylene, expandable polystyrene and PET films (I will look at their demand growth prospects in later posts).Despite sustainability pressures, the scale of demand for stuff bought online translated to a lot more consumption of virgin polymers.

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Removal of non-industrial chemicals from the NICNAS Inventory

Article | March 23, 2020

The Australian Government announced its intention to implement reforms to the way in which industrial chemicals are regulated. The reforms are intended to streamline the process of assessing industrial chemicals to reduce the regulatory burden and to make regulatory effort more proportionate to risk. The Industrial Chemicals Act, which was passed by Parliament in February of 2019 and received Royal Assent in March of 2019, creates a new framework for the regulation of imported or manufactured industrial chemicals. The new scheme, referred to as the Australian Industrial Chemicals Introduction Scheme, or AICIS, will replace the current National Industrial Chemicals Notification and Assessment Scheme, referred to as NICNAS.

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Pandemic’s third wave seems unlikely to damage global petrochemicals demand

Article | July 22, 2021

Petrochemical stocks plunged worldwide on 19 July ahead of the Q2 earnings season. The declines were consistent with those in economically sensitive sectors such as steel, copper, automotive and housing,” wrote my ICIS colleague, Joseph Chang, in this Insight article.

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Euric unveils Waste & chemicals brochure

Article | February 11, 2020

Recyclers have developed state-of-art separation techniques to safely treat a wide diversity of waste streams and recover valuable materials, hence directly contributing to the circular economy. The Brochure published by Euric on ‘Sound Management of Waste & Chemicals Requirements’ highlights the main issues derived from the lack of interface between chemicals, product and waste legislation, and identifies simple solutions to boost the transition towards a more circular economy. Christer Forsgren, Chair of the Euric’s Waste & Chemicals Task Force, Environmental & Technical Director at Stena Metall AB (Sweden), and Adjunct Professor in Industrial Material Recycling at Chalmers Technical University in Gothenburg, emphasized the key role that Europe’s recycling industry plays by reducing Europe’s dependency on primary materials and by saving massive amounts of CO2 and energy.

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Spotlight

Center for Biorenewable Chemicals (CBiRC)

The NSF Engineering Research Center for Biorenewable Chemicals is focused on biobased chemicals and materials. With more than $5m annual investments in R&D, CBiRC is developing a path from biomass to an array of chemical intermediates that will form the foundation for a new industry producing biobased chemicals, surfactants, polymers, resins, cosmetics, adhesives, paints, coatings, dyes, sealants, food additives and specialty chemicals.

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