In association with SPECIAL PMMA OUTLOOK BRENNTAG CEO ICIS forecasts global Christian Kohlpainter ISSUE demand falling 15% in prepares for tough Q2 2020 amid crisis 36 with cost measures 40

22-28 May 2020 MAKING SENSE OF CHEMICAL PRICES

ICB_220520_301.indd 1 5/20/20 6:59 PM Empowering a Circular Future The Recycling & Sustainability Hub

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Untitled-2 1 20/05/2020 13:00 Volume 297 Number 19 22-28 May 2020

In association with SPECIAL PMMA OUTLOOK BRENNTAG CEO ICIS forecasts global Christian Kohlpainter ISSUE demand falling 15% in prepares for tough Q2 2020 amid crisis 36 with cost measures 40

22-28 May 2020 MAKING SENSE OF CHEMICAL PRICES in Ning/RB I in L Cover story Presenting the ICIS Top 100 Chemical Distributors, in association with the Fecc. For full story see P27 Shutterstock Coronavirus pandemic has accelerated trend away from PMMA for auto headlights hit by fall in globalisation P10. US housing starts fell by 30.2% month demand, but other markets see rises P36 on month and 29.7% year on year in April P8

NEWS Pricing briefs Plants & projects 12 MA ‹lake down on slowing demand 25 New projects and permanent plant Brie ing 13 Sinopec raises east China propylene shutdowns, 11-17 May 2020 6 Dow shuts units in Midland on ‹loods Pricing snapshot Chemical pro ile 7 Arkema re-appoints Le Henaff as CEO 15 ICIS news evening snapshots, 96 Demand for Europe fatty acids 8 CNOOC, Shell plan third cracker in reported Wednesday 20 May 2020 from personal care is strong, Huizhou Prices & markets automotive weak Focus 17 China policy shift to lift methanol. 97 Typical peak season for US MEG is 9 Plastics recycling industry faces Asia polyester boosted by rising in doubt amid pandemic restrictions low demand and closures amid upstream pandemic 18 Spain chems plea for rescue packs REGULARS 19 Supply length to persist for US TDI as demand dips 5 Commentary TRENDS 20 Global PE margins could surprise in Q2. 94 What’s on Market intelligence Asia acetone sentiment weakens 95 Conferences & events 10 Trend away from globalisation has 21 Next steps for chemicals amid virus been accelerated by coronavirus Global plant status update SPECIAL REPORTS pandemic 22 Major plant disruptions, shutdowns 27 ICIS Top 100 Chemical Distributors 11 Crude prices are pushing petchems and restarts reported by ICIS, The leaders of this important element prices up but demand remains weak 14-20 May 2020 of the chemical supply chain unveiled

Independent pricing information, news and analysis for more than 120 global commodities Sign up for free market updates at

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Untitled-2 1 20/05/2020 13:00 CSE20-Exh-Advert-A4-EN_v2.indd 1 15/05/2020 13:01 COMMENTARY

Joseph Chang New York Distribution resilience The sheer diversity in product portfolios is a true strength in these challenging times. Look for an accelerated drive towards digitisation coming out of the crisis

More than ever, the role of chemical distribution as an essential component of industrial and consumer supply chains is in the spotlight. Coming out on the other side of the coronavirus crisis, distributors are set to become even more e icient with an acceleration towards digiti- sation as well as a renewed focus on ESG (environmen- tal, social, governance). We are delighted to bring you this special Top 100 Chemical Distributors issue of ICIS Chemical Business, in association with the European Association of Chemi- cal Distributors (FECC). During the crisis, many distributors have quickly piv-

oted to sourcing and supplying more cleaning chemi- Shutterstock cals and ƒinished products such as hand sanitizer and Chemical distributors are an essential part of the PPE (personal protective equipment) to where they’re supply chain needed - to health professionals, ƒirst responders, es- sential workers and consumers. panies to ƒind innovative ways to serve customers while The sheer diversity in product portfolios for distribu- many employees are working from home. tors is a true strength in these challenging times, as in- “This move - all of us moving into our home o ices - creased demand for food ingredients and packaging, worked out very well and conƒirmed that we do live up pharmaceuticals, cleaning chemicals and medical sup- to the aspiration to also be a digital leader in our indus- plies partially offsets broad weakness in automotive, try,” said Hans Joachim Muller, CEO of Belgium-based construction, oil and gas, and consumer durables. distributor Azelis (see page 46). Distributors like Azelis are developing digital tools to During the crisis, many distributors have interact more e iciently with their customers and quickly pivoted to supplying more speed up their time to market by leveraging the dis- cleaning chemicals and inished products tributor’s capabilities. to where they’re needed Sustainability in focus The coronavirus crisis will no doubt cast a brighter “Especially in our business sector, diverse product light on supply chains, and this greater scrutiny will portfolios, thorough market know-how, supply chain ex- also apply to sustainability. cellence and the agility to respond quickly to emerging With security of supply chains at the forefront of priori- challenges and dynamic situations are key to success. ties, suppliers and customers will want to deal with dis- This has helped us greatly to navigate the crisis,” said tributors demonstrating a commitment to sustainability, Dorothee Arns, director general of the FECC (page 29). the circular economy and responsible distribution. Global and local sourcing is also critical to meeting “Mid- and long-term, they will have a huge, long-last- these needs. The shift in supply chain requirements ing impact on the chemical value chain and the way we amid the pandemic - from “just-in-time” to “just-in-case” do business. Not only regulators, but also many chemi- - demands resilience on the part of distributors, notes cal players see Covid-19 as an opportunity to accelerate Robert Stuyt, secretary general of the International a transition which was anyhow underway,” said the Chemical Trade Association (ICTA). FECC’s Arns. “Companies will want to make their supply chains In this special issue, we have commentaries from the more robust and disruption-proof… Countries and com- heads of all the major distributor associations - Europe’s panies will prevent dependence on only one geograph- FECC, the US National Association of Chemical Distribu- ic region or organisation,” said Stuyt (see page 32). tors (NACD), the Brazilian Association of Chemical and While there will be a trend towards more regional Petrochemical Distributors (Associquim), Canada’s Re- supply chains for certain essential products such as sponsible Distribution Canada (RDC), the UK’s Chemical pharmaceuticals and PPE, the coronavirus pandemic Business Association (CBA) and the ICTA. will not lead to full-scale de-globalisation, he maintains. We also feature interviews with the CEOs of key chem- ical distributors to see how they’re handling the coronavi- Drive to digital rus crisis, and to get their outlook for the overall business. Have you seen the ICB web- And the coronavirus crisis will only accelerate the drive And our ICIS Top 100 Chemical Distributors listing is site? Get the latest stories at to digitisation for chemical distributors to more e i- as robust as ever, with participation from distributors icis.com/subscriber/icb ciently serve customers. It’s provided a test run for com- worldwide - both large and small. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 5

ICB_220520_005.indd 5 5/21/20 9:13 AM NEWS For real-time news and analysis from our global team of reporters, visit: icis.com/about/news Brieing AMERICAS this year’s downturn will be worse than Brazil’s deep recession in

Dow shuts units in Shutterstock 2015-2016 when GDP fell 3.55%. Midland on loods Dow has started shutting down Braskem, ALM launch facilities as part of emergency PP for sintering plans activated at its Midland, Brazilian polyoleins producer Michigan, US, facilities, after two Braskem and US irm Advanced dams collapsed due to heavy Laser Materials (ALM) have an- rainfall. Midland Country was de- nounced the availability of a new clared under state of emergency polypropylene (PP) powder for by Michigan’s governor Gretchen use in selective laser sintering Whitmer. According to authori- (SLS). The new PP material will ties, some parts of Midland could bring advantages to SLS additive be under 2.7m (9ft) of water. manufacturing, including mois- “Dow has activated its local emer- ture resistance, improved recy- gency operations centre and is clability and enhanced process- implementing its lood prepared- ing stability, Braskem said. ness plan which includes the safe Sintering is a 3D printing process shutdown of operating units on that uses lasers and thermal en- site,” said the company. Pic of the week ergy to bind powdered material into a solid structure based on a Argentina reineries Michigan loods on dam breaks three dimensional model. back online Michigan’s Midland County in the US is under a state of Two major oil reineries in Argen- emergency after two dams broke, looding the region Total to form alliance tina have resumed operations which includes a number of chemical facilities. with PureCycle after the government’s easing of Total, the French energy and pet- lockdown restrictions sparked an rochemicals major, has formed a upturn in domestic fuel demand. president of Huntsman’s Ad- Dow, partners supply strategic plastics recycling alli- Brazil-based producer Raizen vanced Materials division. PE hospital gowns ance with PureCycle Technolo- conirmed it has partially restart- Dow has partnered with eight gies of the US. As part of the ed its 110,000 bbl/day Dock Sud US to face fewer companies to supply healthcare agreement, Total will purchase reinery in Buenos Aires province Memorial Day travellers workers with protective isolation part of the output of PureCycle’s after a month-long closure The US Memorial Day holiday will gowns during the coronavirus future facility in the US and will caused by the coronavirus crisis. have a low amount of travellers on pandemic. The team has devel- “assess the interest of developing Argentina’s YPF also conirmed it the roads as the coronavirus con- oped Association for the Ad- a new plant together in Europe,” it has restarted its 25,000 bbl/day tinues across the US while gas vancement of Medical Instrumen- said. PureCycle uses a technolo- Plaza Huincul reinery in Neuquen prices remain at 17-year lows. tation (AAMI) Level 2 gowns, Dow gy that separates colour, odour province after processing was While states are beginning to lift said. The 100,000 AAMI gowns and other contaminants from halted at the beginning of April. their lockdowns, many US con- are made with polyethylene (PE) plastic waste feedstock to trans- sumers remain fearful of interstate nonwoven coated with a layer of form it into virgin-like recycled Huntsman completes travel and will remain home this PE ilm made with resin provided polypropylene (PP). CVC Thermoset deal holiday weekend, which is typical- by Dow. They have been approved Huntsman completed the acqui- ly a large travel time. Meanwhile, by the FDA and will be distributed EUROPE sition of CVC Thermoset Special- gas prices in the US are at 17-year equally to government agencies ties from Emerald Performance lows, according to GasBuddy. in Mexico and in the US states of Orlen declines to back Materials. CVC Thermoset makes Louisiana and Texas. coal utility project epoxy resins, toughening agents, HollyFrontier names Poland’s PKN Orlen oil and petro- accelerators, reactive diluents, lubricants president Brazil GDP expected chemicals group said that it has curatives and specialty nitrile la- US reiner HollyFrontier has to contract by 5.1% informed recently acquired texes. They are used in structural named Bruce Lerner as president Economists in Brazil continue to power utility Energa that it will adhesives, protective coatings of lubricants and specialties, ef- lower their outlook for the econo- only become directly inancially and composites. “These prod- fective 1 June. Lerner was presi- my, with GDP now expected to involved in the latter’s construc- ucts deliver enhanced perfor- dent and CEO of PeroxyChem and shrink by 5.12% in 2020, accord- tion of an energy block if the mance, such as durability, lexibil- vice president and global busi- ing to a survey. The weekly survey technology is switched from coal ity, and chemical, crack and ness director of FMC Peroxygens is conducted by the Central Bank to natural gas. Orlen stated that impact resistance, in harsh envi- with FMC Corp prior to that. Lern- of Brazil. In the previous week, its analysis showed the switch ronments. Its applications make er replaces Mark Plake, who is the economists expected GDP to was necessary and added that it products lighter, stronger and stepping down from his role and shrink by 4.11%. If the forecast was willing to enter discussions last longer,” said Scott Wright, plans to retire on 31 December. proves accurate, it suggests that with Energa and Enea, the share-

6 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_006-008.indd 6 5/21/20 8:35 AM NEWS

To read the full story, visit icis.com/news Voices from the web As petrochemicals storage space in China ills up on es on securing the company’s li- the hope that the country can lead the world in quidity and credit rating,” Coves- economic recovery, here are some important statistics tro added. for you to consider. John Richardson on hopes of a V-shaped recovery VCI warns on foreign ■ www.icis.com/explore/blogs investment controls Germany’s chemical industry Thyssenkrupp will transform from a sprawling con- trade group VCI objects to a gov- ernment proposal to tighten con- glomerate into the “leanest possible” holding com- trols on investments from non-EU pany, as it drives through a radical restructuring plan countries in the wake of the coro- that could leave it with at least 20,000 fewer employ-

Arkema navirus pandemic, it said. A draft ees and result in its steel arm merging with a rival. Arkema extends CEO contract of changes the federal economic Financial Times on Thyssenkrupp to shrink radically affairs ministry proposed shows ■ www.ft.com/companies/industrials holders of Elektrownia Ostroleka, that large parts of the chemical- the company that is to imple- pharmaceutical industry would be Policymakers are struggling to ind solutions to ment the power project. affected by tighter controls. The address one of the biggest threats that our country changes focus in particular on sec- has ever faced - the Covid-19 pandemic. Arkema reappoints tors that develop or produce vac- American Chemistry Blog on industry leaders call on Le Henaff as CEO cines, medical personal protection Congress to save chemical security program France-bases Arkema has ap- equipment (PPE) and other medi- ■ blog.americanchemistry.com pointed Thierry Le Henaff as CEO cal products for the treatment of and chairman for another four highly contagious diseases. years. The move came directly The world is in the grip of the Covid-19 pandemic and after Le Henaff was reappointed Novares restarts 13 the ensuing Great Lockdown has pushed many as director by shareholders at a European plants countries into deep recessions. webcast annual meeting. Le He- The French auto plastics parts IMF Blog on making economies more resilient naff has led Arkema since its spin- group Novares has reopened 13 of ■ blogs.imf.org off from Total and subsequent ini- its 19 production sites in Europe tial public offering back in 2006. after receiving a €45m cash injec- Oil prices are staging a furious comeback from last tion from its two largest share- month’s collapse. RadiciGroup appoints holders. Plants in France, Spain, The Wall Street Journal on return of car traˆic Bigler as distributor Italy, Portugal, Serbia, Turkey and ■ www.wsj.com/news/business/industrial-services Italy-based RadiciGroup has ap- Romania were reopened, “with pointed Switzerland’s B Bigler as better than expected production distributor in Germany. B Bigler is rates”, it said. The company - hit distributing a range of Radici hard as the coronavirus pandemic products - including polyamide tore into auto sector demand - Check out the ICIS blogs at icis.com/blogs polymers and compounds, ther- closed 40 of its 45 worldwide moplastic engineering polymers plants and last month decided to Most-read and co-polyester elastomers, po- obtain bankruptcy protection. The top ive stories for the week just gone: lybutylene terephthalate, poly- 1 China attracts petrochemical exports mers and yarns - in Europe’s larg- Germany sentiment SINGAPORE - China’s petrochemical industry face est economy. B Bigler operates a improves in May challenges - rising inventories and congestion at ports. German logistics hub near Darm- Expectations for an economic re- 2 NE Asia ethylene prices surge on Chinese buying stadt, south of Frankfurt, and has covery in Germany continued to SINGAPORE - Ethylene import prices in northeast Asia a local sales force in the country. improve in May, according to ana- surged to the highest level in eight weeks. lysts at the Zew Institute. The Zew 3 Pandemic redrawing the map for chemicals trade Covestro to cut Indicator of Economic Sentiment LONDON - The chemicals sector has the potential to dividend in half rose for the second consecutive become less global and more regionally focused. Germany-based Covestro plans month, gaining 22.8 points on 4 ‘Early signs’ of crude market rebalancing to cut its dividend in half as the April’s reading to 51.0 points in LONDON - Crude oil markets are showing “early signs of coronavirus pandemic is hitting May, with particular strength ex- rebalancing” as output cuts by OPEC+ countries kick in. earnings and liquidity. The com- pected in the fourth quarter. De- 5 OPEC cuts 2020 global crude demand forecasts pany is now proposing a dividend spite an anticipated recovery in LONDON - OPEC has slashed its expectations for global of €1.20/share for the 2019 inan- coming months, the assessment demand growth this year by 2.23m bbl/day. cial year. It previously planned to of the current economic situation maintain the dividend at the 2018 continued to decrease slightly, These are the most read stories taken from ICIS news last level of €2.40/share. “The board with the indicator dropping 2.0 week. To ind out more, visit: icis.com/about/news of management currently focus- points to -93.5 points.

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 7

ICB_220520_006-008.indd 7 5/21/20 8:35 AM NEWS For real-time news and analysis from our global team of reporters, visit: icis.com/about/news

EU passenger car look has de¢initely worsened in dustry. They will leverage on pressure in this di©icult environ- sales fall 76% light of the Covid-19 pandemic BASF’s expertise in advanced ma- ment. It is imperative that we re- EU passenger car sales fell 76.3% and the measures taken to con- terials and HIT’s competency in in- main resilient as we face the full year on year in April, the sharpest tain the spread, and we see Japan frastructure for a win-win cooper- impact of the pandemic and sub- fall since records began, as the facing signi¢icant challenges due ation to innovate for a sustainable sequent economic downturn.” automotive industry suffered to the virus impact, on both trade future in China. the lockdowns across the and the domestic economy,” Sin- India’s auto industry 27-country bloc, the European gapore-based UOB Global Eco- India’s proposed needs reforms Automobile Manufacturers’ Asso- nomics and Market Research Covid-19 tax draws ire While the Indian government’s ciation (ACEA) said. The number economist Alvin Liew said. India is proposing to impose a recent move to infuse liquidity of new cars sold during the 15% tax on all chemical and petro- into the economy through a month fell to 270,682, compared IOC, Haldia on high chemical imports, to protect the $266bn ¢iscal stimulus package with 1.14m during April 2019. Of alert for cyclone domestic industry in the current could help the domestic auto in- the largest EU markets, Spain and Companies with manufacturing ¢iscal year ending March 2021 as dustry, the sector will require Italy saw the sharpest falls, with facilities along the eastern coast of it battles the coronavirus pan- long-term reforms to revive it, registrations falling 96.5% and India including Indian Oil Corp demic. Downstream end-users, said industry experts. Indian 97.6%, respectively year on year. (IOC) and Haldia Petrochemicals however, have posed strong op- prime minister Narendra Modi an- have been put on high alert as Cy- position to the measure - dubbed nounced a $266bn ¢iscal stimulus ASIA clone Amphan is expected to as “Covid tax” - which was sup- package to help revive the econ- make landfall. “Amphan is the most posed to take effect for 11 months omy after a nearly two-month CNOOC, Shell plan 3rd intense and the ¢irst super cyclone from May 2020 - as this will trans- long pandemic-induced lock- cracker in Huizhou since the 1999 Odisha cyclone. late to higher cost of production. down. The Indian automotive in- CNOOC and Shell Petrochemical dustry has seen a steady decline Company (CSPC) is planning to BASF to work with Malaysia’s PCG in sales for the past one year and further expand its Huizhou com- China university Q1 net proŒit falls nearly all automakers recorded plex in Guangdong province, BASF and China’s Harbin Institute Malaysia’s PETRONAS Chemicals zero domestic sales in April. China, by adding a new 1.5m of Technology (HIT) have signed a Group (PCG) reported a sharp tonne/year ethylene cracker, Shell cooperation agreement to jointly drop in its net pro¢it as product Hempel to build said. CNOOC Oil & Petrochemi- conduct research on material so- prices fell in tandem with declin- coatings plant in China cals Co Ltd, Shell Nanhai BV and lutions for sustainable infrastruc- ing crude oil prices as well as Denmark-based Hempel is invest- the Huizhou Government signed ture applications. Research teams softer demand. “The Covid-19 ing $100m to build a new 102,000 a strategic cooperation on the ex- from BASF and the HIT will work pandemic and OPEC+ fallout tonne/year plant for waterborne, pansion in a virtual online cere- together on the testing of new ap- have heightened economic as solvent-based and powder coat- mony on 17 May. The expansion plications for BASF’s advanced well as market uncertainties,” said ings at Yantai, China. The plant at aims to serve the growing num- materials to cut emissions and en- CEO Sazali Hamzah. “Product the Yantai Chemical Industrial Park ber of intermediate and perfor- ergy costs to the construction in- prices will generally remain under is expected to open in 2021. Hemp- mance chemicals customers in el has three plants in China - an ex- the key market of China. isting one at Yantai, and plants at Kunshan and Guangzhou. The new China keeps benchmark plant will sharpen Hempel’s focus lending rate stable on “delivering innovative and more China’s central bank kept its lend- sustainable coating solutions” to ing rate unchanged to keep bor- customers in the region, said Mi-

rowing costs steady. The one- SMITH/EPA-EFE/Shutterstock W LARRY chael Mei, group vice president of year loan prime rate (LPR) will still Hempel in north Asia. be 3.85% and that for ¢ive-year and above at 4.65%, said the Peo- BASF, DiDi sign ple’s Bank of China. Analysts said carsharing agreement that the steady rate means mar- BASF has signed a strategic coop- ket liquidity is high. The LPR was eration agreement with China’s introduced in August 2019 as a leading car-hailing platform Didi benchmarking rate for lenders for sustainable development of and is a regarded reference on the carsharing industry in and out market liquidity. of China. BASF will provide DiDi with sustainable automotive re¢in- Japan braces for ish products developed at its Ji- a deeper downturn angmen site to help reduce VOC Japan is bracing for a steeper End markets emissions and meet the stringent downturn in economic activity standards implemented in various after slipping into a recession, as US housing starts plunge cities. BASF’s paint-related prod- the full impact of the coronavirus US housing starts plunged in April to a seasonally adjusted ucts will be part of the offerings to pandemic on businesses, invest- annual rate of 891,000, down 30.2% month on month and help body shops enhance work- ments and consumption will hit 29.7% year on year. Building permits also fell hard. ¢low and overall performance for the second quarter. “Japan’s out- automotive re¢inishing.

8 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_006-008.indd 8 5/21/20 8:35 AM NEWS FOCUS

Recycling Mark Victory London Plastics recycling challenges For those that are able, acting now on recycling will ensure they are not caught short in the future

On 15 May, industry association PP), for example, where the major- As a result, there have been projects that had been delayed, Plastics Recyclers Europe (PRE) ity of end-use is for non-packaging widespread concerns over poten- consumption had been expected issued a statement urging the EU applications such as automotive, tial bankruptcies in parts of the to increase sharply from Q2. and member states to include re- outdoor furniture, construction chain depending on the approach Shortages of suitable material cycling as one of the sectors sup- and ˆlower pots (almost all Euro- banks take to debt reˆinancing. to meet FMCG targets - particu- ported by their recovery plans pean ˆlower pots are now made Additionally, weak demand and larly for food-grade material - has and to continue implementing from R-PP), demand in April fell by an unwillingness to launch new been a major concern. measures under its Circular Econ- around 50% year on year. supply chains amid the current omy umbrella because of the cur- As demand weakened, recy- disruption meant that underlying Recycled and virgin rent pressure on the industry. clers increasingly idled operations market growth in less established Delays to investment now make it PRE warned that the plastics or switched to working purely mechanical recycling industries increasingly likely that there will recycling industry is closing pro- from stock. Cash reserves at recy- such as recycled polyoleˆins - not be enough material to hit 2025 duction as a result of the crisis, clers are typically signiˆicantly which had previously been strong brand and regulatory targets, re- citing low demand on the back of lower than petrochemical ˆirms, - has ground to a halt. sulting in increased competition convertor closures, and the low and many rely on short-term debt For maturing recycling mar- for material and an increased dis- price of virgin plastics along with ˆinancing to fund investment. kets such as recycled polyoleˆins connect between virgin and recy- decreased global activity. With strong consumer and reg- (R-PO), growth in 2020 had been cled material pricing. “If the situation is to persist and ulatory pressure leading to a raft of expected to be strong because Strong demand and the lack of no actions are taken to remedy FMCG brand targets for 2025 of increased use from the cos- supply had already resulted in a the sector, plastics recycling will across recycled polymer markets metics and household goods disconnect between virgin and cease to be proˆitable, hamper- pre-coronavirus investment levels packaging sectors. recycled polymer prices for ing the attainment of the EU recy- were high, increasing the debt With long testing cycles of grades most attractive to the cling targets and putting in jeop- burden once coronavirus hit. around 18-months and multiple packaging sector. A two-tier mar- ardy the transition towards ket between packaging applica- circular plastics. In such a case, Europe R-PET vs virgin spread tions - where prices are now recyclable plastic waste will have largely driven by demand and €/tonne, spot no alternatives but to be sent to sustainability factors - and non- 800 R-PET colourless lake, FD NWE minus virgin PET landˆill or incineration,” said PRE 700 R-PET food grade pellet minus virgin PET packaging applications, where President and Director, Group Re- 600 prices remain driven by cost-sav- cycling at CeDo, Ton Emans. 500 ing against virgin, had arisen. 400 It is certainly true that the recy- 300 The charts here show the cling industry is facing signiˆicant 200 spread between virgin and recy- short-term disruption and strain 100 cled polymer grades - with zero as a result of the coronavirus pan- 0 on the graph representing price -100 demic, including ˆinancial pres- -200 parity, above zero meaning recy- sure not seen since the global -300 cling prices are more expensive economic downturn in 2008. -400 than virgin and below zero mean- -500 ing they are cheaper. Under inancial pressure 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 The ˆirst is the spread between Packaging demand in April fell by R-PET colourless ˆlakes and food- 20-30% across European recycled Europe R-HDPE vs virgin HDPE ilm spread grade pellets and Virgin PET spot polymers because of substitution values. The second graph shows €/tonne, spot back to virgin, despite underlying the R-HDPE pellet price spreads 1,200 packaging demand remaining with virgin HDPE ˆilm spot prices. strong due to homeworkers using 1,000 The ˆinal graph shows the spread more packaged goods. 800 between natural R-PP pellet pric- Demand for non-packaging es (which are a mix of homopoly- 600 R-HDPE GP Black pellets applications has ground to a vir- R-HDPE Mixed Coloured Pellets mer and copolymer) and the vari- 400 R-HDPE Natural Pellets tual standstill due to widespread R-HDPE Pipe Grade Black Pellets ous grades of virgin spot prices. closures, particularly from key 200 All three graphs show the in- end-uses such as automotive and 0 crease in volatility since the spread outdoor furniture, which have of the pandemic in March. This been most severely affected. -200 volatility has increased uncertainty In recycled polymer markets -400 in the market, and multiple players such as recycled polypropylene (R- May 2019 May 2020 Continued on P16 ❯❯

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 9

ICB_220520_009-016.indd 9 5/21/20 9:16 AM MARKET INTELLIGENCE For real-time news and analysis from our global team of reporters, visit: icis.com/about/news Virus fractures trade Trade had already become more regional before the pandemic struck, driven by the US-China trade war and increasing nationalism. This trend will now accelerate.

Tom Brown London

Supply chain disruption in the wake of the coronavirus pandemic could turn into new long-term arrangements that result in a move away from globalised trade ­lows, exacerbated by a shift in some countries towards nation- alism, according to the World Economic Forum (WEF). A survey of economists, executives and policy mak- ers identi­ied supply chain disruption as one of the seven key risks for the world over the next 18 months. The bulk of the key risks facing the globe in the wake of the pandemic are economic, including a prolonged recession, a surge in bankruptcies, failure of certain in- dustries to ever fully bounce back, and substantial weakening of key countries. Tighter restrictions on cross-border movements of people and goods was the only geopolitical risk factor highlighted seen as one of the most likely outcomes of

the pandemic. Shutterstock The establishment of new, more localised supply Trade will become more regional in the aftermath chains in response to the extent of disruption caused by of the pandemic lockdowns, production shutdowns and quarantine measures enacted across the globe could become a cal tensions, with the US-China trade war disrupting longer-term ­ixture of trade ­lows, according to the WEF. global ­lows and the UK’s move to quit the EU leading businesses on both sides of the Channel to reduce reli- Saadia Zahidi ance on cross-border trade links. Managing director, WEF Shutdowns initially seen across Asia Paci­ic and spreading west in ensuing weeks has put further strain “There were already ongoing trends towards on trade links, and exposed the vulnerability of the “just re-shoring or near-shoring… and that, in time” supply chains that carry little inventory on hand. combined with a mood of greater economic “I think that’s something we need to keep a very nationalism could accelerate that” close watch on, and may see the chemicals industry becoming less global in the way product moves,” KP- MG’s global head of chemicals Paul Harnick told ICIS in This could enhance the resilience of supply chains a recent interview. that have proven to be vulnerable to the scale of dis- For chemicals, a retrenchment towards more region- ruption caused by something like a pandemic and in- al supply chains had been in motion before the pan- crease local business opportunities, but could also re- demic and would continue after, according to Arkema sult in cooperation between countries and restrict CEO Thierry Le Henaff. cross-border ­lows. “[Coronavirus] will not change signi­icantly the ­low “There were already ongoing trends towards re-shor- of chemicals in a material way, because chemicals are ing or near-shoring… and that, combined with a mood being more and more regional. That has been the trend of greater economic nationalism could accelerate that,” so far, and I don’t think that will change,” he said at a re- said WEF managing director Saadia Zahidi, speaking at cent press conference. a press brie­ing. “What we’ve seen through this crisis is actually an ex- Tighter borders acerbation, an acceleration and a twisting of familiar Some countries grappling with the crisis have already risk trends. It’s not as though this de-coupling was started to place restrictions on exports of key pan- something that was unknown prior to this crisis, so I demic management materials such as biocides and think it becomes fuel… in terms of what companies are protective equipment, while the EU has erupted in a already thinking about,” said Richard Smith-Bingham, standoff between northwestern European and Medi- executive director of professional services ­irm Marsh & terranean countries about how to ­inance the ­inanc- McLennan Advantage, also speaking at the brie­ing. ing of the recovery. Have you seen the ICB website? Get the latest stories at The status quo of tightly interlinked global supply There are risks of countries turning in,” said Ngaire icis.com/subscriber/icb chains has been challenged by increasing global politi- Woods, dean of the Blavatnik School of Government at

10 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_010-011.indd 10 5/20/20 4:26 PM MARKET INTELLIGENCE

the University of Oxford, also speaking on the WEF brief- ing. “At this moment when people cannot physically travel, politicians can use that… to pursue some kind of Think Tank xenophobic economic nationalism. Nigel Davis London “One of the underlying things that we can see is the emergence of a narrative that helps countries turn in- Crude upturn, weak demand play out wards,” she added.

A crossroads The publication of the coronavirus risk factors report Petrochemical prices may be trend- For products such as polyethylene comes a few months after the WEF released its annual ing upward, largely on the back on terephthalate (PET) it may be a case risk report, which was focused at the time on environ- the rising price of crude oil, but sen- of the market adjusting to a new nor- mental risks, which comprised all of the top †ive key timent remains weak and uncertain. mal of demand – stronger in some long-term hazards. Northeast Asia markets are lead- applications linked to health, safety ing the way for price increases, al- and protection, much weaker in oth- Ngaire Woods though demand has been hard hit ers – that could make forecasting Dean, Blavatnik School of Government, University of Oxford by coronavirus lockdowns. Market easier. Something similar may be at dynamics change rapidly. play for the major polyole†ins, al- “We cannot simply let every country Asia butadiene (BD) prices have though the sheer volume of demand that can no longer raise credit in capital ticked upwards, but driven by up- into manufacturing, automobiles markets crash, because that’s most of stream naphtha costs rather than and construction, mean that the cor- the world” stronger demand. Asia naphtha pric- onavirus impact is more signi†icant. es last week were at a two-month high following the jump in crude. There are signs of a pick up The earlier report covers a decade, longer than the Brent and WTI front-month futures in demand, particularly from coronavirus risk report which is focused on the crisis have been rising since 24 April, un- the construction sector as and aftermath. The risks set out in the longer-range re- derpinning downstream petrochem- national lockdowns ease port are still as pressing as ever, and policy measures icals sentiment. BD spot prices will need to be put in place now to mitigate those issues bottomed out in late April at $350/ in future, according to Peter Giger, group chief risk of- tonne CFR (cost and freight) NE China is certainly restocking as †icer of Zurich Insurance. (northeast) Asia, down by about 55% can be seen at the top of the chain in “The planet is still heating up and just because it isn’t from early March. ethylene with June supply tight, al- making the headlines right now doesn’t mean that [the “The key point is demand and though that is also due to con- issue] is gone,” he said. whether it is strong enough to sus- straints on regional production The vast stimulus measures and shifts to the way civi- tain the BD price uptick. China may capabilities. Ethylene prices in lisations are operating at present, from the migration to have resumed market activity earlier southeast Asia have continued to home working in many sectors to plans to pedestrianise than any other country, but the de- rise on China market sentiment, swathes of major cities to allow social distancing, could mand recovery could not just de- tight regional supply and spot de- form the basis for bene†icial shifts in the way the global pend on China alone,” a trader said. mand from polyethylene (PE). economy functions, with an increased focus on social Currently, there is good reported Unexpected ethylene supply re- welfare and environmental issues, Zahidi said. demand in China for new vehicle strictions in Europe have helped The political situation in many countries is extremely sales – light trucks, for instance - but underpin prices but there are signs volatile at present, and the way governments respond whether these vehicles are going to of a pick up in demand, particularly to the current crisis is pivotal to peacefully navigating dealerships or to the customer re- from the construction sector as disruption, according to Woods. mains to be seen. There is also re- national lockdowns ease, as re- “You can’t’ afford command and control [political portedly an increase in online sales. ported by ICIS. frameworks],” she said, noting that Gulf countries are facing a huge threat at present due to the perfect storm ICIS daily price index of collapsed oil pricing and the pandemic. “[There is a] really big risk that not enough people 120 US NE Asia at the top of the system will understand that this cri- NW Europe sis for the Gulf is so deep that every person will have 100 Global to take a cut. This is an existential crisis for the Gulf, and if this does not see every person at the top take 80 a big pay cut then you’re going to face a revolution,” she added. 60 Di–iculties in accessing liquidity for a huge swathe of global economies are likely to become chronic, she noted, advocating for pooled credit ratings for coun- 40 tries to allow economies to recover and to avoid wider shocks from collapses. 20 Feb Mar Apr May “We cannot simply let every country that can no long- 2020 er raise credit in capital markets crash, because that’s Note: Based on published ICIS daily prices most of the world ,” she added. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 11

ICB_220520_010-011.indd 11 5/20/20 4:25 PM PRICE & MARKET TRENDS For up-to-date information on more than 120 global commodities, visit: icis.com/about/price-reports Brieing EUROPE weak, which a producer has large- reference price has therefore limited demand. Group I SN150 MA lake down on slowing ly attributed to low consumption been set at the mid-point of these domestic bulk prices slipped demand from the automotive industry. conˆirmed settlements at €500/ $20/tonne to $540-600/tonne The European maleic anhydride Weak demand has contributed to tonne FD NWE. Lengthy supply, FOB NWE. SN150 truck values (MA) market is still seeing some long supply conditions. weak demand and falling spot dipped €20/tonne to €520-570/ downward pressure from the prices have put downwards pres- tonne FCA NWE. In the Group II halt in activity that has taken May ECH contracts soften sure on OX contract pricing. market, prices for 200/220N hold of the automotive sector. on propylene inched down €10/tonne to Most business is still occurring Europe epichlorohydrin (ECH) PA contract settles €640-680/tonne FCA NWE. Val- on contract, with buyers seeing freely negotiated contracts have €20/tonne lower ues for Group III 4cSt material similar slower consumption lev- settled lower for May, reˆlecting The European phthalic anhydride edged down €10/tonne on the els at manufacturers down- some upstream propylene cost (PA) contract price for May has low end, widening to €640-760/ stream. MA liquid was assessed relief this month, albeit with some settled €20/tonne lower from tonne FCA NWE. unchanged at €960-€1,100/ moderating factors. Price reduc- April, tracking feedstock orthox- tonne FD NWE while ˆlake lost tions for ECH have ranged from ylene (OX) contract price’s de- ASIA some ground on both ends and €30-55/tonne for May. Availability crease. The contract price for China EO list prices up was assessed at €1,000-€1,125/ is not an issue, although one sup- solid and liquid PA is €704.5-759/ CNY200/tonne tonne FD NWE. plier is still in the process of re- tonne FD NWE, with the mid- China’s domestic ethylene oxide plenishing stocks due to a recent point standing at €732/tonne FD (EO) list prices rose by yuan Glycol ether demand spate of technical issues. NWE. The PA May CP is at levels (CNY) 200/tonne week on week, wanes in May last seen between March and according to market sources. The European glycol ether demand May epoxy resins April 2004 when the market bot- price hike follows the most recent levels in May have dipped and ac- contracts fall tomed at €690/tonne and re- increment of CNY200/tonne on tivity has lessened. Despite spot Europe May epoxy resins contract bounded to €750/tonne in April. 12 May. Prior to that was an in- prices remaining stable, there prices have dropped, amid slow crease of CNY300/tonne on 30 were some pockets of competi- demand from key end sectors and Europe benzene-naphtha April. One of the largest EO pro- tion heard within the market, so good availability. Contract prices spread narrows ducers in China - Sinopec - an- players are waiting to see if the for May are assessed at €2,150- The spread between benzene nounced the revision of its list lack of demand continues. Spot 2,300/tonne FD NWE for standard and naphtha pricing in Europe is price to CNY6,700/tonne ex-tank. prices were assessed stable, be- liquid and €2,050-2,150/tonne FD narrowing as naphtha spot values tween €780-820/tonne FD NWE NWE for standard solid (types 2 have jumped since April. The China 2-EH offers for butyl glycol (BG) and €1,020- and 3). This reˆlects decreases of spread is also impacted by ben- continue to rise 1,070/tonne FD NWE for butyl gly- €50-100/tonne for liquid epoxy zene in Europe being priced at China’s 2-ethylhexanol (2-EH) of- col (BDG) spot prices. resins and drops of €100/tonne around $80/tonne below Asia, fers increased on 20 May. Ex-tank for solid epoxy resins compared where the spread to naphtha is offers in east China were at yuan Butac prices soften on with the previous month. more reasonable. Average ben- (CNY) 6,750-6,800/tonne, up by weak demand zene prices stood at $275/tonne CNY50/tonne from 19 May, and The European spot price assess- OX May contracts down CIF ARA. Naphtha prices were those in north China rose by ment for butyl acetate (butac) has €20/tonne $215.5/tonne CIF NWE. CNY100/tonne to CNY6,500- narrowed due to weak demand European May orthoxylene (OX) 6,600/tonne. The increase was at- and long supply. Butac prices contract prices have been settled Base oils domestic, export tributed to rising feedstock prices. were assessed at €840-880/ at a decrease of €20/tonne. Set- prices slump tonne FD NWE – a decrease of tlements were conˆirmed at European base oils prices for do- MEG rises on costs, €20/tonne on the high end of the €505/tonne FD NWE and €495/ mestic and export markets improving demand range. Demand for butac remains tonne FD NWE. The May contract slumped on lengthy supply and Asia import monoethylene glycol (MEG) prices went up on the back EuropeSINGLE ECDECKH HEADLINE LOOKS BEST XXXX Europe epoxy resins of rising crude and naphtha prices as well as improving demand in €/tonne, contract FD NWE €/tonne, standard liquid, contract FD NWE China. The higher crude values 2,200 2,400 and naphtha prices provided sup- 2,350 port to downstream petrochemi- 2,150 cal markets. Spot discussions 2,300 were at $420-430/tonne CFR CMP with several deals heard 2,100 2,250 done at $425/tonne.

2,200 Sinopec lifts benzene 2,050 list prices 2,150 China’s Sinopec has raised its do- 2,000 2,100 mestic benzene list prices by Jun 2019 May 2020 Jun 2019 May 2020 yuan (CNY) 100/tonne, a compa-

12 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_012-013.indd 12 5/21/20 11:06 AM PRICE & MARKET TRENDS

To read the full story, visit icis.com/news

ny source said on Monday. Its prices went up amid gains in Latin American PET prices from April. US spot export VAM benzene prices were adjusted to the upstream crude oil and remain steady prices were last assessed at CNY3,250/tonne EXW nation- naphtha markets. Naphtha Most Latin American polyethyl- $880-970/tonne. wide. This is the third movement prices in Asia rose to a two- ene terephthalate (PET) buyers made in May. The new list price month high, bolstered by a remain on the sidelines as the US acetone faces has an import parity of $400/ jump in crude oil futures. Bids local economies experience the upward pressure tonne CFR China, L/C at sight, or for PX July shipments for Asia impact of the pandemic. This US acetone remains tight, but around $405/tonne CFR China, origin stood at $502/tonne CFR lack of buying interest is con- players are watching to see if L/C 90 days. Taiwan/China on 18 May. tributing to •lat resin prices. supply and demand balance out. Asian PET offers were heard at Upward pressure is present this Sinopec raises east China China isomer MX import $730-750/tonne CFR South month as co-phenol operating propylene talks higher America mark, but sources rates are lower and as demand China’s petrochemical giant Sin- Imports of isomer-grade mixed claim to have negotiated prices holds up in certain segments, opec raised its propylene list xylenes (MX) into China were at the low end of the range, and while imports are constrained prices in east China by yuan discussed at higher levels after even below it at $720/tonne due to antidumping duties (CNY) 100/tonne on 16 May, a crude oil rises on Monday. On CFR South America. (ADDs) and high freight costs. A company source said on Monday. bullish sentiment, buying indi- supplier is seeking a 7 cent/lb Its subsidiary, Zhenhai Re•ining & cations for July shipments were MEK prices decline due ($154/tonne) increase on ace- Chemical (ZRCC), raised its pro- at $420-425/tonne, against sell- to lower demand tone, effective 7 May, according pylene offers to CNY6,250/tonne ing indications at $430-435/ Methyl ethyl ketone (MEK) prices to market sources. ex-tank, while another subsidiary, tonne, both on a CFR east China fell this week on news of de- Jinling Petrochemical, raised its basis. “The tank storage is tight creased demand, particularly in US toluene trends lower prices to CNY6,200/tonne ex- for the entire month of June, but the industrial sector. Asian im- with gasoline tank. Ningbo Kingfa and Zhejiang stocks are expected to be ports have increased in May, in- US toluene spot prices moved Satellite both raised their list pric- cleared by July. So we only creasing alternatives for US buy- lower with gasoline and mixed es on 16-18 May. Producers in east focus on July arrival cargoes ers. However, Asian imports xylene (MX) spot prices rose on China raised list prices in view of now,” said an importer. continue to make up a relatively tightening supply this week amid increasing propylene prices in small percentage of the US mar- limited trading activity. The week- Shandong and the open arbi- AMERICAS ket. During the week, MEK prices ly range for toluene spot prices trage window. US IPA prices decline as fell by 5 cents/lb ($110/tonne). was $1.02-1.23/gal free on board supply lengthens Domestic prices delivered East of (FOB), and weekly range for MX Shanghai SECCO Isopropanol (IPA) demand contin- the Rockies are now assessed at was $1.07-1.35/gal FOB, as as- increases ACN price ues to be very strong in the US, 83-87 cents/lb. sessed by ICIS. China’s Shanghai SECCO has in- although supply has increased in creased its acrylonitrile (ACN) recent weeks. Following a rise in May could be slowest US June BD contract weekly price to yuan (CNY) 7,250/ Asian imports, prices have fallen month for US VAM nomination „lat tonne ex-tank, up by CNY250/ from their highs of several weeks Demand for US vinyl acetate A US June butadiene (BD) con- tonne in comparison with the ago, although they remain much monomer (VAM) has entered tract nomination emerged at a previous week, a company higher than before the coronavi- what could be its slowest month rollover as downstream plants source said on Monday. rus (Covid-19) health crisis. Prices since the coronavirus pandemic start up and demand remains delivered (DEL) to the US Gulf are became more widespread in subdued. A producer nominated PX, PTA higher amid now 85-185 cents/lb ($1874- the western part of the world. 20 cents/lb ($441/tonne), •lat upstream gains 4079/tonne), while spot prices The ICIS assessment of US VAM from its May settlement. Global Asian paraxylene (PX) and puri- free on board (FOB) to the Gulf contracts is at 60-62 cents/lb price indications have ticked •ied terephthalic acid (PTA) are 110-210 cents/lb. for May, a drop of 2 cents/lb higher, but supply continues to outpace demand. Coronavirus Asia MEG US IPA declines from peaks demand recovery is expected to be slow. $/tonne, spot CFR China Main Ports Cents/lb DEL US Gulf consumer domestic Spot FOB US Gulf export 700 250 Spot FOB US Gulf tank truck North American Q3 TiO2 talks gear up 200 600 North American Q3 titanium di- oxide (TiO2) contract negotia- 150 tions are expected to gain mo- 500 mentum, beginning in June, amid 100 mixed views about the viability of current initiatives. The recent Q2 400 50 small-to-medium volume buyer rollover held the domestic price 300 0 range at $1.60-1.70/lb free deliv- May 2019 May 2020 May 2019 May 2020 ered (FD), as assessed by ICIS.

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 13

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Untitled-2 1 20/05/2020 13:13 PRICE & MARKET TRENDS

ICIS News weekly price snapshot Reported in ICIS News evening snapshots, Wednesday 20 May 2020 US benzene, toluene, MX US ethylene, propylene

$/gal Benzene Toluene MX Cents/lb Ethylene Propylene 3.0 35

2.5 30 25 2.0 20 1.5 15 1.0 10

0.5 5

0.0 0 26 Feb 11 Mar 25 Mar 8 Apr 22 Apr 5 May 20 May 26 Feb 11 Mar 25 Mar 8 Apr 22 Apr 5 May 20 May 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

Europe benzene, styrene, naphtha Asia ethylene, propylene, styrene

$/tonne Naphtha Benzene Styrene $/tonne Ethylene (CFR NE Asia) 900 900 Propylene (CFR NE Asia) Styrene monomer (CFR China) 800 800 700 700 600 500 600 400 500 300 400 200 100 300 0 200 26 Feb 11 Mar 25 Mar 8 Apr 22 Apr 5 May 20 May 26 Feb 11 Mar 25 Mar 8 Apr 22 Apr 5 May 20 May 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

ICIS general methodology ICIS continuously develops, reviews and revises its methodologies in consultation with industry participants. Product speciications and trading terms and conditions used aim to relect typical working practices prevalent in the industry. ICIS publishes market prices based on information continuously gath- ered from market participants about: spot transactions, spot bid and offer levels, contract price negotiations, prices of related commodities, and relevant freight costs. For the entire general methodology, visit: www.icis.com/about/methodology/general

Regional snapshot data: 20 May 2020

Product Price ($/tonne) Change on week Naphtha 269.00 65.00 Benzene 300.00 20.00 Styrene 620.00 45.00

EUROPE

ASIA AMERICAS

Product Price Change on week Product Price ($/tonne) Change on week Ethane (cents/gal) 22.375 0.375 Naphtha 292.00 61.50 Toluene ($/gal) 1.25 0.185 Benzene 395.00 33.50 Benzene ($/gal) 1.11 0.06 Toluene 360.00 15.00 MX ($/gal) 1.25 0.04 Ethylene 610.00 70.00 Ethylene (cents/lb) 12.375 1.625 Propylene 792.50 57.50 Propylene (cents/lb) 23.00 0 Styrene 662.50 40.00

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 15

ICB_220520_015.indd 15 5/21/20 9:51 AM NEWS FOCUS For real-time news and analysis from our global team of reporters, visit: icis.com/about/news

❯❯ Continued from P9 seen above there was already a Europe R-PP vs virgin spread disconnect between virgin and have switched from contract to recycled values in many polymer €/tonne, spot spot pricing as a result - particular- markets that pre-dates the crisis. 150 Homopolymer inj. Raia ly in France where pre-pandemic Virgin polymer prices have fall- 100 Copolymer post-consumer waste prices were en sharply in response to the cor- typically agreed on a quarterly onavirus outbreak, particularly 50 basis but are now typically being following the crash in crude oil 0 concluded on a spot basis across values. This has placed signi‡icant all recycled polymers. pressure on non-packaging recy- -50 cling grades in April and May, and -100 FMCG commitments intact a growing disconnect between FMCG brands remain committed virgin and recycled values has -150 to their recycling targets, with no also added pressure on packag- -200 delay so far announced. Some reg- ing grades so that recycled values Oct 2019 May 2020 ulations, such as Italy’s plastics tax do not price too high above virgin. that was due to come in to effect in The exception to this is R-PET based on costs, or solely in re- At the same time, it would in the June, have been pushed back. food-grade pellets, where supply sponse to legislation,” said Helen longer term ensure these ‡irms There has been an absence of chains are well established, vol- McGeough, senior analyst, Plas- achieved their targets and embed new legislation, but no regulation ume commitments are typically tics Recycling at ICIS. them more deeply in supply chains has been abandoned and there longer term, and where the brunt “The climate crisis and plastic at a time when investment is likely has been no sign of any shift in of current 2025 legislative targets pollution remain critical issues for to come at a discount. It would regulatory approach once the cor- are focused. R-PET food-grade the plastics industry to address also signal a deep-seated commit- onavirus crisis has been overcome. pellet values are currently almost and the ambition for a circular ment to the sustainability agenda. There has also been no signal of double virgin PET values. economy has not diminished. Some ‡irms are already doing any change in consumer attitudes Nevertheless, even outside of Therefore, supply chains across this, and although investment an- to recycling, with the pressure to R-PET, substitution back to virgin all sectors needs to assess priori- nouncements have slowed, they avoid waste remaining high. is not the sole result of low virgin ties in line with this purpose and have not disappeared. Indeed, the economic fallout values. It is also being driven by how short-term decisions will im- Perhaps the most noteworthy of from the coronavirus may make security of supply concerns, ease pact long term business pros- recent investment announce- further legislation more likely in of use, and limited workforces. pects,” she added. ments is L’Oreal’s €150m social the mid-term since plastic taxes, This reduction in demand may and environmental fund, launched deposit return schemes and ex- well prove to be a short-term con- The opportunity to directly help tackle the impact tended producer responsibility sequence of logistics disruption Any bankruptcy or lost investment of the economic fallout from virus initiatives are simultaneously po- due to the virus outbreak, with in any recycling chain resulting outbreak. €50m of the fund will be tentially revenue generating and consumption returning alongside from the pandemic is a tragedy used to promote the circular econ- unlikely to draw negative public workforces once lockdown re- for sustainability. omy with the aim of developing reaction at a time when central strictions ease. Nevertheless, in all crises there new solutions and business mod- governments are looking to re- Nevertheless, the longer-term is a level of opportunity. The spe- els to boost the recycling and coup emergency expenditure. consequences of potential supply ci‡ic potential opportunities in the management of plastic waste. This could make them an at- chain bankruptcies and lack of in- present crisis lie with brand own- While the sustainability agenda tractive option for governments vestment will be felt for far longer ers and petrochemical ‡irms. may be on hold for some compa- across the globe once the eco- if they result in further availability The sustainability agenda is un- nies because of the current crisis, nomic recovery is under way. restrictions in the mid-term. likely to subside in the mid-to- for those that are able, acting This begs the question that if As such, PRE’s call for govern- long term. Without investment, now will ensure they are not FMCGs remain committed to ments to support the industry is shortages are likely, and some caught short in the future. ■ their brand targets, why is sub- likely necessary to shore up strug- ‡irms can be expected to miss stitution back to virgin occurring gling businesses and to prevent their targets. in the short-term in the packag- longer-term threat to the achiev- Brand owners and petrochemi- ICIS has launched a new ing sector? ability of sustainability targets. cal ‡irms can no longer ignore Europe recycled polypro- The answer may in part lie in the “It is evident that legislation sustainability without facing sig- pylene (R-PP) price report disconnect between FMCG drives demand, as seen by the ni‡icant consumer backlash, regu- covering post-consumer brands and packaging manufac- SUP Directive and impact on the latory consequences and poten- and post-industrial bales, turers. Many packaging manufac- food grade R-PET market. The dis- tial lost business. ‡lakes and pellets. To turers are owned by private equity connect to virgin prices in this Many of these ‡irms, though, subscribe to the new re- ‡irms creating a heavier focus on market emerged prior to the cor- do not have established supply port, or for further infor- short-term pro‡its and a greater onavirus outbreak, but has held chains in the recycling industry mation, please contact emphasis on the spread between ‡irm when other commitment and in some cases lack internal [email protected] virgin and recycled prices, and from other markets has fallen by expertise. The crisis creates the margins between waste costs and the wayside. opportunity for smart ‡irms with Click here to see regula- recycled material prices. In this “However, it should not be the deeper pockets and higher cash tory targets and a list of chemical and mechani- context, PRE is correct to high- case that plastic users and pack- reserves than is typical in the re- cal recyclers on the light the pressure from falling vir- aging producers should opt for cycling chain to invest and act as ICIS Circular Economy gin values, although as we’ve recycled feedstocks simply a bulwark for the industry. topic page

16 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

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Asia China policy shift to lift methanol A China shift to replacing coal in industrial boilers with methanol could add 40-50m tonnes/year to demand

Joseph Chang New York research note following a confer- tial target of 40-50m tonnes/year dustrial boilers and residential ence call with a methanol expert. by 2025-2026 - if the methanol heating is the most effective way A shift in China’s policy to man- “Such a policy could lift the supply infrastructure can keep to target particulate emissions date the use of methanol instead ‹ive-year demand CAGR for up,” he added. and urban pollution, the analyst of coal in all industrial boilers methanol by over 800 bps (basis pointed out. The roughly 500,000 would be a structural shift, spur- points), and put the industry ‹irm- Long-term market potential industrial boilers in China repre- ring huge demand increases, Jef- ly on track for tight conditions in Longer term, the industrial boiler sent over 700m tonnes/year of feries said on 18 May. 2023-2024, even if the economic market represents a potential coal demand, most of which has “China’s National People’s Con- environment remains weak,” he market of around 400m tonnes/ limited emission controls. The ference, starting 22 May, could in- added. Drawing on China’s expe- year, or roughly 4x the current black carbon emitted by industrial clude a vote to mandate the con- rience with methanol-to-ole‹ins global methanol market, with boilers has over 3,200x the GHG version of industrial boilers to (MTO), after the proof of concept each 1% of conversion represent- (greenhouse gas) impact of CO2, methanol from coal,” said Jefferies is validated, national policy can ing around 5m tonnes/year of de- said Alexander. analyst Laurence Alexander in a create a step-change in the de- mand, the analyst pointed out. In the US, black carbon emis- mand trajectory one to three India has also announced long- sions run at around 9 mg/ml, in Methanex stock years later, Alexander said. er-term plans to use methanol for the EU around 10, in China 45-50 “Provincial trials over the past transportation fuel blends and (down from around 70), and in $ few years have already created cooking applications, which India around 80, he added. 60 a market of around 2.5m could eventually represent an- “Since these emissions break 50 tonnes/year in annual demand, other 200m tonnes/year of po- down after 20 days, reducing compared to around 1.5m tential demand, he said. them can have a fairly quick im- 40 tonnes/year in 2017 (18% AGR),” “Another new factor in de- pact on regional health out- he continued. mand forecasts is a potential stra- comes. Conversion to methanol 30 “If a favourable policy is enact- tegic methanol reserve. If China reduces particulate emissions ed, we would expect these pilot proceeds with the current pro- 95%, NOx around 75%, CO2 20 programs at the provincial level posals, it could represent an ad- around 30% and sulfur emissions 10 to add another 0.2-0.3m tonnes/ ditional tranche of methanol de- completely,” said Alexander. year of demand in 2021, and then mand in the order of around Shares of methanol producer 0 accelerate, adding 1-2m tonnes/ 250m tonnes,” said Alexander. Methanex surged $3.14, or 22%, May 2019 May 2020 year in 2022 with a ramp to an ini- Switching out of coal use in in- to $17.12 on 18 May. ■

Asia Asia polyester Asia polyester boosted $/kg, spot 150 Denier Semi-Dull, FOB NE Asia 1.4 PSF 1.4 Denier, FOB NE Asia by rising upstream 1.2

Judith Wang Singapore Co-feedstock monoethylene glycol (MEG) prices have risen by 1.0 Spot polyester prices in north- 15% since early April, which east Asia increased in the week prompted sellers to raise the 0.8 on ‹irmer crude futures and ris- polyester prices. ing feedstock cost. However, slow downstream demand is ex- Ample supply 0.6 pected to put a cap on the Supply remained long as most May 2019 May 2020 price uptrend. producers were running at re- Major northeast Asia produc- duced rates to cope with dwin- stream derivatives need time to “If the demand does not im- ers raised their offers by $0.05/ dled demand amid the corona- recover from the coronavirus prove, the polyester price up- kg for ‹ilament yarn and staple virus pandemic. The average pandemic. trend may not be sustained.” ‹ibres, tracking rising crude val- operating rates in China are at “Clothes are not a necessity. Northeast Asian exporters said ues as more countries are grad- around 80-85%, sources said. If people don’t have money, export orders fell sharply com- ually lifting restrictions on busi- Overall export demand re- they don’t have to buy new pared the same period of ness activity and movement of mained slow, and may pick- ones,” a separate polyester pro- 2019 due to the coronavirus people. up in the near term as down- ducer said. outbreak. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 17

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Europe Spain chems plea for rescue packs Spain’s chemicals trade group said an urgent rescue plan is needed for the auto and construction sectors

Jonathan Lopez London expected to be considerably In a country of 47m, with a employing around 450,000 lower this year. working population of 20m, the workers, according to the coun- Spain’s chemicals had been a Most analysts, and the Euro- sector had provided a lifeline for try’s trade group VCI. success story post-
inancial crisis pean Commission, estimate industry post-2009, with its French trade group France within the country’s rather squal- Spain’s GDP to fall around 9%. workers enjoying stable employ- Chimie does not publish annual id industries, but the current pan- That is alongside Italy’s expected ment contracts and higher-than- sales
igures, which are estimat- demic has brought entire eco- 10% contraction, a consequence average salaries. ed at around €75bn. The indus- nomic sectors to a standstill. of the weight of tourism in coun- The director general at Spain’s try employed in 2019 around End demand is simply not tries in Europe where the pan- chemicals trade group FEIQUE 220,000 workers, the trade there. The chemical industry demic hit
irst, and hardest. told ICIS on Monday that an ur- group said. sells around 20% of its output to “2020 will be very tough for the automobile industry, which With construction accounting for approximately tourism, but the sector will soon- has been idle since March, with another ifth of its output, the chemicals sector in er or later recover. The sun will be car dealerships shut due to Spain has seen its two major end markets evaporate there, as well as the beaches, and lockdown restrictions and con- over the past two months tourists will come back once we sumers shying away from big- get over the fears related to the ticket purchases. pandemic,” said Juan Labat, di- With construction accounting Automotive sector critical gent rescue plan is needed for rector general of FEIQUE. for approximately another
ifth However, Spain’s industrial com- the automobile sector. “However, we are much more of its output, the chemicals sec- panies are deeply concerned Without it, the country could concerned about industry. We tor in Spain has seen its two about how the just-lifted eight- risk losing its competitive edge need immediate plans to encour- major end markets evaporate week lockdown could leave in the industry which, according age corporates and consumers over the past two months. long-lasting scars in manufactur- to some estimates, accounts for to purchase new vehicles. We be- Spain’s industrial sectors ac- ing if urgent rescue packages 10% of GDP. lieve with a €400m package the count for around 12% of GDP, far are not implemented in automo- Letting automobile go would automobile industry could be from Germany’s 20%, the Euro- bile and construction. in turn hit chemicals - the indus- saved,” he added. pean manufacturing power- Automobile matters in Spain, try posted sales in 2019 of more house. And with an economy with its nearly 3m vehicles pro- than €67bn, employing around Infrastructure boost needed based on the services sector - duced in 2018 making it the 200,000 workers. Equally, construction is a key tourism is a key source of in- second largest European pro- Spain is the fourth largest sector in Spain. That is why come - Spain’s GDP is set to fall ducer, only behind Germany, chemicals producer in Europe. FEIQUE’s chief said a large-scale sharply in 2020. More than 80m according to the EU’s auto trade Its annual sales are well below programme of infrastructure in- tourists visited in 2019, a
igure group ACEA. Germany’s €193bn, an industry vestment is needed. He said projects planned for rail, road, or water infrastructure, which would total more than €100bn, should be sped up. Construction materials, said Labat, are made with 90% of na- tionally produced chemicals, making the industry a key end market for the chemical industry. A source based in Spain at BASF, which employs in its Span- ish facilities around 2,500 em- ployees, said that demand in some sectors has even in- creased - hygiene products or chemicals destined to medical products - but the historic fall in demand from auto and con- struction has left petrochem- icals reeling. The company has furloughed (known in Spain by the acronym

Shutterstock ERTE) nearly 600 employees at Automotive is a critical sector for Spain’s chemical industry its Guadalajara plant, which

18 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_018-019.indd 18 5/21/20 10:26 AM PRICE & MARKET TRENDS

mostly serves the auto industry. lockdowns easing at a slow pace employed. And a country like Spain or Italy will have access to. A further 60 were furloughed at given the risk of a second wave Spain could not live off 12m A package of low-interest, long- its plant in Rubi, near Barcelona. of infections, fears are mounting workers only,” he added. term loans seems the most likely The source said, however, that that that as half-gas activity be- outcome, which could make it all furloughed employees will re- comes the norm and subsidies Solidarity or competition? palatable to battered Italian and turn to work. It is a statement few dry up, unemployment will jump The sovereign debt crisis in the Spanish societies. Spanish companies are brave in the eurozone to levels not eurozone post €inancial crisis, Bailouts and consequent enough to make. seen in decades. with smaller economies like harsh austerity measures seem The company has also imple- “There are 20m workers in Greece and Portugal bailed out to be out of the question this mented short-term work – or Kur- Spain, 17m of them in the private in exchange for austerity meas- time. At its usual slow pace, the zarbeit – at some of its German sector of which 3m are self-em- ures, was a traumatic experience eurozone seems to be advanc- facilities, its domestic market, ployed. In two months, 4m sala- for those two countries that left ing towards a system more mostly serving the auto industry. ried workers have been put in deep social scars. based in solidarity. Analysts at Oxford Economics ERTE, and 1m self-employed The global pandemic of 2020 In the space of 11 years, the have pointed out that around have called off their business,” is set to leave an economy deep- eurozone has been confronted 30m workers in the eurozone are said Labat. ly damaged in the third and by two existential crises. currently in some sort of state- “We need to quickly imple- fourth tier of eurozone econo- The way out from the €inancial subsidised scheme by which ment rescue packages to get the mies - Italy and Spain, with com- crisis left scars that crystallised they are not working but they are economy moving again. You bined GDP of around €2.0tr and in more anti-system parties, not ožicially unemployed either. cannot keep the economy in hi- around 110m inhabitants. division, and little economic, In Spain, around 4m workers bernation for long because you The eurozone may €ind that productivity, and wage gains are under some sort of ERTE; in go from one risk to a bigger one. the response to this crisis may for most. the UK, the government said that “And both the 4m workers well decide its future. After The way it emerges from this by the end of April it was paying under ERTE and the self-em- months of wrangling, leaders of deeper, war-like economic the salaries of 6m workers. As a ployed need to be back at work the wider, 27-country EU are set shock may well settle the fate of V-shaped recovery is becoming as soon as possible or we would to take a €inal decision on what the continent for a large part of increasingly unlikely, with the risk making them long-term un- sort of €inancing countries like this century. ■

Americas Supply length to persist for US TDI as demand dips

Zachary Moore Houston TDI consumption is expected to in 2020 following a down year Ward predicted that light vehi- fall by 8.8% in 2020 from 2019, in 2019. cle sales might not return to pre- Supply length is expected to re- with global demand for the Haig Stoddard, senior indus- coronavirus levels until 2023. main in place in the US toluene product not expected to rise try analyst for Wards Intelli- The automotive industry is a diisocyanate (TDI) market over above 2019 levels until 2022. gence, revised his estimates of major source of TDI consump- the coming months following Following a year in which sup- US light vehicle sales downward tion, which is used extensively signi€icant demand erosion as a ply had persistently exceeded by 4m units in 2020 and 1.5m in the production of automo- result of the coronavirus out- demand, this disruption is likely units in 2021 compared to his tive seating. break and subsequent contain- to keep the global market well- pre-coronavirus outlook, the an- ment measures. supplied over the medium term. alyst said during a webinar on Furniture and bedding According to the ICIS Supply The automotive sector glob- the automotive industry organ- The furniture and bedding sec- and Demand Database, total ally is expected to experience ized by the National Association tor, another major source of TDI global capacity expanded by another year of decreased sales for Business Economics (NABE). demand, is also expecting a de- 19% between 2015 and 2019 as cline in overall sales in 2020. several producers brought new US TDI Consumers are likely to delay world-scale plants online. purchases of upholstered furni- Cents/lb, 80:20, bulk, domestic DEL These new capacity additions ture and mattresses amid wide- 220 had created length in the market spread economic uncertainty during much of 2019, with prices and limited shopping activity ex- and margins trending lower 215 perienced as locations across amid rising production and slow- the US continue to face varying er demand growth. degrees of lockdown measures. The coronavirus outbreak and 210 TDI is mainly used for the pro- subsequent containment meas- duction of polyurethane (PU)

ures have signi€icantly dented 205 €lexible foams used in uphol- demand for TDI and down- stery, mattresses and automo- stream polyurethane systems. tive seats. According to the ICIS Supply 200 Major US TDI producers in- and Demand Database, global May 2019 May 2020 clude BASF and Covestro. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 19

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Asia Asia acetone sentiment weakens as demand slips

Angeline Soh Singapore Asia acetone porter. According to sources, Middle East-origin acetone is not Asia’s acetone market senti- $/tonne, spot CFR India CFR China Main Ports, dutiable expected to reach Chinese ment is waning for the †irst time 1,000 shores until July.

since April, as derivative sup- 900 The tightened supply has port weakened. caused inventory levels at ports In the week ended 13 May, pric- 800 in east China to plummet to a

es were at $730-800/tonne CFR 700 mere 5,090 tonnes as of 15 May. India, up by $20-40/tonne week Subsequently, arrivals became on week. Such levels were the 600 more rampant at the ports, rais- highest in more than two years. ing supply. This caused domestic 500 prices in east China to weaken on India’s IPA dips 400 18 and 19 May, resulting in shaken Acetone prices were supported import sentiment. 300 by derivative isopropanol (IPA), May 2019 May 2020 Some importers pushed for dis- whose global demand has surged cussion levels at $800/tonne CFR since the outbreak of the corona- at $725/tonne CFR India for tonne week on week, with the CMP levels, while exporters virus. IPA is used in disinfectants June loading. A separate trans- high end at a 5.5-year high. adopted a wait-and-see stance, including hand sanitisers. How- action for a cargo without ADD In addition to derivative sup- while derivative MMA, was per- ever, as India’s IPA sentiment was heard at $780/tonne CFR port, the tightened supply also forming well. weakened for the second week, India, but could not be immedi- bolstered sentiment. “China is a key market. It wields acetone sentiment lost support. ately veri†ied. Several turnarounds were on- great in†luence on the IPA and ac- A 1,000 tonne southeast Asia- In the week ended 15 May, pric- going within Asia and the Middle etone markets in India. We have to origin cargo subjected to anti- es were assessed at $900-960/ East, notably at Saudi Arabia’s watch its movements carefully,” dumping duty (ADD) transacted tonne CFR CMP, up by $30-70/ Petro Rabigh, which is a major ex- said an India-based end-user. ■

Global PE margins could surprise in Q2 Bernstein expects Q2 earnings for major US PE producers will be stronger than previously feared

Zachary Moore Houston months as increased driving pushes naphtha costs higher. US and Asian polyethylene (PE) Oxgaard’s base scenario pre- margins could beat expectations dicts that prices will fall to meet for Q2 as there is some evidence costs within the next two to four of tightening supply and upward months, but notes that margins pressure on prices, according to may remain around $200-300/ a research note from Bernstein. tonne if reclycling or CTO/MTO Bernstein analyst Jonas Ox- production turns out to be need- gaard said Asian PE supply has ed to meet demand. been reduced due to lower oper- For the US, the analyst said

ating rates at coal-to-ole†ins prices are likely to be †lat to Shutterstock (CTO) and methanol-to-ole†ins higher in the coming months, a US PE supply may be tightening (MTO) units and decreased recy- shift from earlier predictions of cling rates. falling prices amid demand de- bifurcation between the domes- The analyst predicted that Demand has fallen due to lock- struction during the coronavirus tic market and the export market. much of this new capacity down measures implemented in outbreak and subsequent con- Overall, the analyst expects would arrive on the market by response to the coronavirus out- tainment measures. Q2 earnings for major PE pro- the †irst half of 2021, suggesting break, although the note said that Operating rates have declined ducers will be stronger than pre- that any margin upside could be it is di‹icult to estimate the full around 10-20%, which could cre- viously feared. The outlook for con†ined to 2020. extent of demand destruction ate a tighter supply situation for Q3 and Q4 remains murky and PE is the most widely used due to the rapidly evolving situa- domestic buyers. Although the much will depend on the pace of plastic in the world, primarily tion. The note estimates that US exports more than 30% of its global economic recovery, oil found in packaging including Asian PE costs will rise to around PE production, Oxgaard noted prices and the start-up of the plastic bags, plastic †ilms $500/tonne over the next several that there is signi†icant degree of next wave of Chinese capacity. and geomembranes. ■

20 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_020-021.indd 20 5/21/20 10:42 AM PRICE & MARKET TRENDS

Global Next steps for chemicals amid virus Hear from our own market experts plus external views from the ICIS Europe advisory board

Will Beacham Barcelona

Podcast Will Beacham Barcelona Podcast Jasmine Khoo Singapore Next steps for chemicals amid Asia Special Report - Glycerine pandemic - ICIS advisory board Prices of re†ined glycerine buyers in technical sectors. In this special ICIS podcast, ■ Impact of coronavirus have almost doubled since In this episode of the ICIS the Europe ICIS customer and through 2020 mid-March, boosted by tight Asia podcast, Jasmine Khoo editorial advisory board dis- ■ Longer-term structural supply and strong demand speaks with Jackie Wong, sen- cuss the challenges their or- changes to industry and from Europe and the US. ior editor for the ICIS Asia Pa- ganisations or sectors have markets While demand from the ci†ic Glycerine report on what faced because of coronavirus. ■ Can chemicals emerge personal care, food and lies ahead for the market as The world might look differ- stronger from this unprec- pharmaceutical industries movement restrictions around ent as we emerge from the edented disruption? has remained steady, the world start to ease. lockdowns, and the chemicals squeezed margins and an industry has to prepare for this Click here to listen to the uncertain economic outlook Click here to listen to the new post-virus reality. podcast interview are curbing the appetite of podcast

Podcast Will Beacham Barcelona Podcast Anna Matherne & Alex Snodgrass Houston Can chemicals sustainability US IPA sees easing but tight supply, agenda survive the pandemic? demand remains strong With economies collapsing (R-PET); Mark Victory, ICIS US isopropanol (IPA) faces around the world and chem- senior editor for recycled easing supply, although it ical supply chains under in- polyethylene (R-PE) and recy- remains tight, as demand tense pressure, the circular cled polypropylene (R-PP); remains strong. economy and the sustain- John Richardson, ICIS senior Markets reporter ability agenda also faces consultant, Asia; and Paul Deniz Koray discusses disruption. Hodges, chairman at consul- IPA market fundamentals

Listen to this podcast inter- tancy International eChem. and what is to come Shutterstock view with Matt Tudball, ICIS in this podcast interview by senior editor for recycled Click here to listen to the Anna Matherne and Click here to listen to the polyethylene terephthalate podcast Alex Snodgrass. podcast interview

Podcast Anna Matherne & Alex Snodgrass Houston Podcast Sylvia Traganida London Coronavirus deals blow to Sulphur market seeks direction chemical companies Q1 earnings from phosphates, re†inery output The coronavirus has severely Sulphur prices in Asia hampered chemical compa- have been sti†led by nies Q1 earnings as demand limited end-use demand, reached new lows and stay- while low re†inery output at-home orders halted con- tightens supply in the

sumer spending. Shutterstock Americas. Global editor for ICIS view by Anna Matherne and Markets editor Erica

Chemical Business, Joseph Alex Snodgrass. Sesay and senior editor Shutterstock Chang discusses the impact Annalise Porter talk about on earnings and what’s to Click here to listen to the the latest developments in Click here to listen to the come in this podcast inter- podcast the market. podcast

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 21

ICB_220520_020-021.indd 21 5/21/20 10:43 AM PRICE & MARKET TRENDS For up-to-date information on more than 120 global commodities, visit: icis.com/about/price-reports Global plant status update Click on the maps to view major plant disruptions, shutdowns and restarts reported by ICIS for the week from 14-20 May 2020

ICIS Americas weekly plant status updates

ICIS Europe, Middle East, Africa weekly plant status updates

22 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

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Click on the maps to see a weekly sum- mary of all new plant disruptions, shut- downs and restarts which appear on the ICIS Live Supply Disruption Tracker

ICIS Asia weekly plant status updates

ICIS China weekly plant status updates

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 23

ICB_220520_022-023.indd 23 5/21/20 10:45 AM EVERY 7.5 SECONDS, OUR MEMBERS DELIVER PRODUCTS SAFELY FOR BUSINESSES LIKE YOURS

NACD’s cornerstone program, Responsible Distribution, practiced by every NACD distributor, means our members’ safety metrics remain consistently better than all merchant wholesaling combined!

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Navigating Chemical Supply Chains in an Unprecedented Era Day by day, NACD assembles pivotal information to keep chemical producers, distributors, handlers, and service providers informed about the CARES Act state, national, and global impacts of coronavirus (COVID-19) and oers the Guide resources for safe and ecient emergency preparedness and response.

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Untitled-2 1 20/05/2020 13:13 PLANTS & PROJECTS

New projects and permanent plant shutdowns Reported by ICIS News, 11-17 May 2020 New projects Company Location Product Capacity* Process Contractor Cost Start-up Status Advanced Global Jubail Industrial City, propylene 843,000 LyondellBasell Fluor -- P Investment Company Saudi Arabia technology - (AGIC) propane dehydrogenation/ PP polypropylene (PP) 800,000 LyondellBasell Fluor -- P technology - PDH/ PP Air Products Bengalon, East coal-to-methanol 2m coal feedstock - PT - $2bn 2024 P Kalimantan, Bakrie Capital Indonesia Indonesia Berry Global Berlin, Germany mask materials (x) FFP2 (N95) and - - Oct 2020 U FFP3 (N99)-grade ’iltre media and masks Borealis Linz, Austria meltblown fabrics for - PP based - - May C face masks 2020 Egypt Hydrocarbon Ain Sokhna, Egypt ammonia 1,320 - Maire - 2023 P Corporation (EHC) tonnes/day Tecnimont Enterprise Products Mont Belvieu, Texas, propylene 750,000 PDH unit - - May C US 2020 Evonik Birmingham, biomaterials - Resomer - - May C Alabama, US bioresorbable 2020 polymers Honeywell Newhouse, Scotland FFP2 and FFP3 4.5m/ - - - Jul 2020 U disposable face month masks Maracaja Bioenergia and Matto Grosso, Brazil ethanol corn-based - $87m - P Lucas E3 Ningbo Bohui Chemical Ningbo, Zhejiang, Group II base oil 300,000 - - - end April C Technology China 2020 Pingmei Shenma Henan, China caprolactam (capro) 200,000 - - - Jun 2020 U cyclohexanone 150,000 - - - Jul 2020 U capro (x) technology - - by 2023 P 600,000T upgrade Shandong Jincheng Zibo, Shandong, Group II base oil 600,000 - - - late May U Petrochemical China 2020 Sinopec China PP melt-blow 13,500 16 lines - - May C 2020 Sinopec Zhongke Zhanjiang, re’inery 200,000 - - - late May U Re†ining & Petrochemical Guangdong, China bbl/day 2020 ethylene 8,000,000 - - - Jul 2020 U China ethylene vinyl 100,000 - - - end July U acetate (EVA)/low 2020 density polyethylene (LDPE) Total, Shell and Equinor Norway carbon capture and - - - - 2024 P storage (CCS) Yisheng Petrochemical Yangpu, China polyethylene 500,000 - - - May/June U terephthalate (PET) 2020 Zhejiang Petrochemical Zhoushan, Zhejiang, methyl methacrylate 90,000 - - - late May D China (MMA) 2020 China propane 600,000 - - - Jun 2020 U dehydrogenation (PDH)

Notes: *Capacity: ’igures given in tonnes/year; tonnes/day are converted by multiplying by 330. (x) = expansion; T = total capacity including expansion. Start-up: Dates given are for planned start-up. H1 = 1st half year; H2 = 2nd half year; Q1 = 1st quarter; Q2 = 2nd quarter; Q3 = 3rd quarter; Q4 = 4th quarter. Status: S = study; P = planned; A = approval; E = engineering; U = under construction; C = completed; D = delayed; CAN = cancelled.

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 25

ICB_220520_025.indd 25 5/20/20 4:37 PM THE GO-TO EUROPEAN ASSOCIATION FOR THE CHEMICAL DISTRIBUTION VALUE CHAIN

We unite chemical distributors, producers and many other value chain partners in the pursuit of innovative, sustainable solutions.

Untitled-2 1 20/05/2020 13:14 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS Lin Ning/RBI Lin Welcome to the 2020 ICIS Top 100 Chemical Distributors. Look inside to ’ind out who the leaders are of this important element in the chemical industry supply chain

32 ICTA makes case for 44 Sa’ic-Alcan puts M&A on 51 NACD prepares for CONTENTS globalisation hold lockdown lifts 28 Distributors adjust to 33 UK’s perfect storm Post-Brexit clarity needed: changes in demand patterns 45 Distributors need an Tennants 29 Fecc: “Time to think beyond 34 THE RANKING advisory board virus crisis” 46 Coronavirus to boost digital 52 ICIS Top 100 main listing 36 PMMA: long road to recovery move 31 US CFATS more critical than 56 Asia Paci’ic leaders ever 39 Sanitizer boom to persist 48 Harke grows despite crisis 64 North America leaders 31 Associquim – 60 year 40 Brenntag prepares for 49 Nordmann adapts to the celebration tough quarter pandemic 66 Middle East & Africa leaders 32 RDC enables quick 42 Cash is king for chems 50 2M taps expertise for 76 Latin America leaders pandemic response distributors demand boost 80 Europe leaders

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 27

ICB_220520_027 Top 100 Intro.indd 27 5/21/20 9:02 AM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch Distributors ight Chemical distributors are adjusting to drastic changes in demand patterns plus logistics and cashlow challenges while maintaining focus on health and safety

Will Beacham Barcelona come permanent as businesses and consum- may be passing, irst in China and now Eu- ers maintain more of a focus on hygiene. rope. New lash purchasing manager indices The coronavirus pandemic means chemical Distributors - squeezed between producers for May published by IHS Markit show the distributors around the world are overcoming and downstream industries - now have an ab- manufacturing contraction easing slightly in market conditions most will never have expe- solute focus on working capital. They face de- Germany, France and the UK. They are still in rienced in their lifetimes. mands for quicker payment from suppliers deep negative territory but moving in the Deep economic contraction in the second and delays to settling bills from customers. right direction. quarter has weighed heavily on demand, es- As lockdowns spread around the world, We would like to send special thanks to pecially for end use sectors such as construc- supply chains were stretched to breaking our partner Fecc (European Association of tion and automotive, which mostly closed point. European distributors experienced de- Chemical Distributors) for helping us plan down during parts of March, April and May. lays from suppliers, especially if sourcing from this special edition. Thanks also to our other Luckily, falling demand in these areas has China and other parts of Asia. partners the North American Chemical Dis- been offset by stable conditions in other end- On the other side, some have seen custom- tributors (NACD), UK’s Chemical Business use markets such as home and personal care, ers close without notice, meaning deliveries Association, the Brazilian Association of food and pharmaceuticals. For those lucky have had to return to the warehouses. Careful Chemical and Petrochemical Distributors enough to sell products to ight the spread of inventory management has become more im- (Associquim), Canada’s Responsible Distri- the virus, such as isopropanol (IPA) for hand portant than ever. As lockdowns are eased, bution Canada (RDC), and the International sanitizers, a spike in demand looks set to be- there are signs that the worst part of the crisis Chemical Trade Association (ICTA). ■

28 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_028 Will Commentary.indd 28 5/21/20 9:03 AM IN ASSOCIATION WITH Fecc: ‘Time to think beyond virus crisis’ Although the coronavirus has been top of mind for months, the time has come to think again about the opportunities distributors can ind in chemical supply chains

Dorothee Arns Fecc (European Association series of webinars on all relevant issues, and immediate disruption of our interconnected of Chemical Distributors) with the creativity of the team working from and optimised supply chains. And it culmi- home we created a variety of visual support nated with some European countries battling Like all players in the chemical industry and materials (posters, checklists, lyers, vide- about face mask deliveries from other conti- beyond, Europe´s distribution sector was os). This material has become so popular nents and blocking personal protective faced with a very challenging springtime that we made it available to everyone on our equipment from exports, which ended up in 2020, marked by unprecedented political and homepage, especially after the European a domino effect. One lesson learned from supply chain dynamics on one hand and a Occupational Safety & Health Agency this example is that free trade is beneicial for irst-time ever simultaneous supply and de- (OSHA) and the European Chemicals Agen- everyone and can mitigate the consequenc- mand shock globally on the other hand. cy (ECHA) co-promoted it as good practice es of force majeure events of all kinds. The full impact of economic lockdown on their social media channels. Moreover, Moreover, a lot of room for further im- measures aimed at containing Covid-19 in- Fecc joined forces with Ceic’s European Bi- provements could be noted in terms of inte- fection rates on our sector will become fully ocide Products Forum (EBPF) and the Inter- grated digital supply chain solutions, which visible only in the course of the next national Association of Soaps & Detergents enable the quick, reliable, lexible and con- months, and presumably the picture will be (AISE) in developing practical guidance on tactless processing of orders, deliveries and as diverse as the distribution sector itself is. fast-tracking the availability of disinfectants. many other supply chain functions. In this Usually, distributors serve a broad portfolio As we are all adapting to the “new normal” area we can strongly assume that Europe of applications, which is now particularly now, mid- and long-term perspectives for the will certainly see a bigger push from now beneicial when it comes to balancing chemical value chain enter the picture again. on. Distribution is ideally placed at the core out lacking demand in segments such In this respect, the Covid-19 crisis can be seen of all supply chain operations such as as automotive or textiles with an over- as a sort of magniier glass, which brought blending, formulating, customising, pack- proportionally high demand for pharmaceu- several aspects to the forefront of attention, aging, warehousing, R&D and recycling. It tical substances and disinfectants. The which had already emerged beforehand - just covers all segments, while combining pro- overwhelming majority of Fecc member in a more subtle way. duction, distribution and international trade companies all over Europe stayed fully Especially in our business sector diverse so we consider ourselves to be best suited operational over the past months and with- product portfolios, thorough market know- for piloting all kinds of innovative, digital so- out infections. how, supply chain excellence and the agility to lutions in close collaboration with our value respond quickly to emerging challenges and chain partners. Best practices dynamic situations are key to success. This Covid-19 has also heavily ruled our agenda as has helped us greatly to navigate the crisis. Sustainability Fecc from mid-March until now. The team On the challenges´ side, during Covid-19 Last but not least, let us not forget about sus- has spent most of our time compiling punc- peak times, the growing fragmentation of tainability in general and the circular econo- tual, crisp and easy-to-use advice and infor- Europe and global trade lows became visi- my in particular. Recently, these topics have mation on all Covid-19 related developments ble more than ever before. It started with gone a bit into silence mode over the growing in the form of daily newslashes and weekly each EU Member State closing down their concern about the economic damages of newsletters. These include, for example, borders from one moment to the other with- Covid-19, but mid-and long-term they will pan-European overviews of lockdown/lifting out European coordination, which led to an have a huge, long-lasting impact on the measures; available state aid schemes in the chemical value chain and the way we do busi- various EU countries; economic impact as- Dorothee Arns ness. Not only regulators, but also many sessments; recurrent status updates on lo- Director General, Fecc chemical players see Covid-19 as an opportu- gistics and transportation; best practices ex- nity to accelerate a transition which was any- changes, for example on avoiding infections “As we are all adapting how underway. at the workplace; how to weather the eco- to the ‘new normal’ now, All of these topics will also shape the future nomic storm; cybersecurity/data protection mid- and long-term of Europe´s chemical distributors, and we as and challenges and solutions for working perspectives for the Fecc see it as our irst and foremost role to from home. chemical value chain prepare our member companies´ businesses With the great support of many well-re- enter the picture again” for the times to come. One thing can be taken nowned external partners we hosted a huge for granted: we will not get bored! ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 29

ICB_220520_029 Fecc commentary.indd 29 5/20/20 4:33 PM Shaping the world by connecting markets to optimise global resources.

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Untitled-2 1 20/05/2020 13:15 IN ASSOCIATION WITH US CFATS more critical than ever A longer extension of the Chemical Facility Anti-Terrorism Standards, even amid the Covid-19 crisis, is a key priority for the US chemical distribution sector

Eric Byer NACD small victory in getting a three-month and –ive- chemical distributors and regulators have the day extension of the US Department of Home- certainty they need to implement and adminis- The Covid-19 global health emergency has land Security’s Chemical Facility Anti-Terrorism ter the program’s requirements. signi–icantly impacted the chemical distribu- Standards (CFATS) program, which is now set A –ive-year extension would be ideal, but tion sector. Supply chains have been disrupt- to expire on 23 July 2020. While that is a wel- given the dynamics in Congress, we are cur- ed, order volumes for companies are different come development to keep this vital national rently exploring a two-year extension to ensure from years past, and employees are working security program alive, our industry needs a companies can continue to invest in security remotely when possible. longer-term CFATS reauthorisation so both upgrades while we push for a longer reauthori- Fortunately, very few NACD (National Asso- sation. Lawmakers are rightly focused on ad- ciation of Chemical Distributors) members Eric Byer dressing the Covid-19 crisis right now. Yet, the have experienced cases of Covid-19 within President, NACD deadline means there are very few legislative their companies, and just 1% of our member- working days to secure an extension. ship has had to lay someone off because of “Our industry needs a Given these challenges, it is now more im- the economic impact of the coronavirus. That CFATS reauthorisation so portant than ever that Congress not lose sight is a testament to the strength, resiliency and they have the certainty of the value CFATS brings to our national se- preparedness of our industry to manage un- to implement and curity strategy and extends the program into expected events. administer the the foreseeable future to ensure our industry Despite the disruptive nature of Covid-19 on requirements” and our nation remain safe from acts of terror- our industry, earlier this spring we achieved a ism during these unprecedented times. ■ Associquim - 60 year celebration The Brazilian Association of Chemical and Petrochemical Distributors celebrates 60 years of sustainability and innovation. Technology changes will be coming

Rubens Medrano Associquim Sustainability is nothing new, as since 2002 Rubens Medrano we were already concerned with this topic and President, Associquim Associquim held its 9th EBDQUIM - the Brazil- on that occasion, we launched the PRODIR Re- “The distribution of chemicals ian Congress of Chemicals and Petrochemi- sponsible Distribution Process, which is man- in Brazil is moving towards cals Distributors - on 9 and 10 March in Sao datory for all Associquim members. Paulo. The event had special meaning for the Peter Newport, CEO of CBA, UK - our guest technological evolution, entire Brazilian chemicals and petrochemicals speaker - addressed the global priority on en- digitalisation and products distribution sector, not only for the ergy consumption and a sustainable future. sustainability” important celebration of the entity’s 60th an- International consultant Guenther Eber- niversary, but also for the topics addressed at hard, senior and managing partner from Dis- dustry 4.0 which forces distributors to adapt the event. triConsult, was the keynote speaker and ad- to these new concepts. The relationship with During these six decades of activity, Asso- dressed the digitalisation of chemical our commercial partners requires invest- ciquim has always kept up with the important distributors worldwide. ments, not only in equipment but also in the changes in the segment during this period, The distribution of chemicals in Brazil is preparation and quali–ication of human re- both nationally and internationally. The entity moving towards technological evolution, digi- sources to face all these changes. has the mission to meet the needs of, and de- talisation and sustainability, in addition to add- Also at the Congress, ICTA secretary gen- fend its members in an eŒicient way, on the ing value in its important role within the pro- eral Robert Stuyt during his presentation ex- problems that affect our day-to-day activities. duction chain. plained the importance of the international The themes addressed at the Congress It is now time for disruptive changes and body as representative of the distribution in- were Sustainability and Innovation. arti–icial intelligence, and this started with In dustry worldwide. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 31

ICB_220520_031 NACD & Associquim commentaries.indd 31 5/19/20 10:15 AM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch RDC enables quick pandemic response Responsible Distribution Canada worked with distributors, other industry associations and the government to maximise the distribution of hand sanitizer

Cathy Campbell Responsible Distribution duced, with a commitment to be re-veriŒied Cathy Campbell Canada every three years. What makes Canada President, RDC unique is that every site must be audited tri- “It was wonderful to see Responsible Distribution (RD) began in 1990 annually, not just a percentage or sampling. politics put aside and following a couple of major chemical inci- The programme has “teeth”. In fact, since the dents around the world. One of these was a programme’s inception, RDC has rescinded everyone working together train derailment in 1979, which resulted in an membership of six companies that did not for the better good during explosion in Mississauga, Ontario. This was meet the requirements of RD. the pandemic” the impetus for Canada’s Transportation of This is not a simple undertaking. To become a Dangerous Goods regulations in 1985. The success, it requires resources and a commit- The government wanted to ensure processes members of Responsible Distribution Canada ment to do the right thing for employees, suppli- were right, and the product handled and distrib- (RDC, formerly CACD) knew they had to do ers, customers, the public and the environment. uted responsibly. Regulators worked together to something to get ahead of the regulations. RD has matured and many government ensure Canadians are safe, and have what they The RD programme has evolved over the agencies have given members credit for their need to stay healthy. It was wonderful to see last 30 years and is practiced by different efforts by reducing the workload of reporting, politics put aside and everyone working togeth- countries around the world. The goal of RDC giving special permits to RD veriŒied compa- er for the better good during the pandemic. has always been to get recognition from stake- nies and most recently, requesting RDC mem- The result of working together was a suc- holders for the work involved to achieve com- bers be part of a manufacturing exchange cessful alliance in this time of need for front- pliance and certiŒication. with other allied associations to maximise line workers, Œirst responders, consumers, In 1996 third-party veriŒication was intro- production of hand sanitizers. communities, industries and governments. ■ ICTA makes case for globalisation World trade will revive again. Countries may want to strengthen production of certain essential products but not aim for complete self-su–iciency

Robert Stuyt International Chemical Trade Production lines were previously designed on ply chains, higher energy e–iciency process- Association the principle of “just in time”, but that now be- es and digitisation of sales and marketing. comes “just in case”. Thirdly, the structure of globalisation is The coronavirus outbreak has tremendous ef- Secondly, it is advised to take sustainability changing. Previously, world trade was stimu- fects on the economy, and thus also on chem- into account when preparing for the restart of lated by trade deals which removed import ical distributors. The virus and the measures the economy. Even with lower oil prices, sus- tariffs. Fifty years ago, they amounted to 30% to Œight it have caused great challenges to tainability is an imperative, especially when on average - now that’s only 5%. prevent supply chain disruptions. The reces- working in developing countries. As compa- After getting rid of protectionism, a new sion caused by the outbreak will negatively nies experiment in response to coronavirus, threat to global trade emerged - precaution- affect demand in almost all market segments. they may Œind new ways to make their opera- ism. Barriers are introduced to protect citizens Firstly, I do not believe that the pandemic will tions more sustainable, e.g. with shorter sup- from possible risks through safety and quality lead to de-globalisation. Although world trade Robert Stuyt requirements. However, some of these precau- is hard hit, it will revive again. The key word now Secretary general, ICTA tionary measures may be disguised protec- is “resilience”. While countries may want to tionism. It is up to industry to raise such issues strengthen vulnerable national production for “Production lines were with policy makers, for instance at the WTO. certain essential products, this does not mean previously designed on the To keep the world moving, distributors will they will aim for complete self-su–iciency. principle of ‘just in time’, have to re-design supply chains to become Supply chains are simply too complex for but that now becomes more resilient and sustainable. While working that. Companies will want to make their sup- ‘just in case’” safely is crucial, safety measures should not ply chains more robust and disruption-proof. be abused for protectionist purposes. ■

32 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_032 RDC & ICTA commentaries.indd 32 5/20/20 4:42 PM IN ASSOCIATION WITH UK’s perfect storm Chemical logistics groups and distributors will have to cope with the toxic brew

Peter Newport Chemical Business Association helping to combat the pandemic has been losing access to important growth markets. outstanding. However, shortages will almost The EU is the destination for 60% of the UK’s In accounting terms, many businesses are certainly emerge once the pent-up demand chemical exports and the source of 70% of cautious about making forward-looking state- in the supply chain is released. the UK’s chemical imports. The UK chemicals ments because they know that reality fre- With Brexit, the UK Government has made sector requires continued market access and quently de ies their expectations. But many it clear that it has no intention of trying to frictionless trade with the EU. companies in the UK supply chain do not cur- achieve regulatory alignment with the EU in CBA has advised its members to protect rently share this reluctance. They feel that relation to chemicals. It is also adamant that it their interests and use one or more of the fol- they are facing a ‘perfect storm’. will not extend the transition period beyond lowing options: Here are the key issues for most companies: 31 December 2020. ■ Use an existing or new subsidiary in the EU to navigate the aftermath of the coronavirus The chemical supply chain therefore risks and transfer any EU REACH registrations ■ pandemic, to manage the trading and regula- Peter Newport Establish a partnership with a company in tory issues surrounding Brexit; and to prepare CEO, Chemical Business Association the EU and transfer EU REACH registrations for an imminent and severe recession. ■ Support CBA’s plan to create or contract The decompression process from corona- “The UK economy will suffer with a collective Only Representative entity in virus will involve occasional bottlenecks. It is a major shock as it emerges the EU for member companies. bound to take time for many companies to re- from coronavirus. But it faces The UK economy will suffer a major shock cover inancially and operationally. During the a double whammy with as it emerges from coronavirus. But unlike lockdown, the response of many companies the Brexit deadline” many of its trading partners, it faces a double to switch production to materials that are whammy with the Brexit deadline. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 33

ICB_220520_033 CBA comment.indd 33 5/20/20 4:46 PM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch Distributors need an advisory board Whether large or small, distributors can beneit greatly from having a board that brings different skill sets and a wide range of expertise and contacts

Guenther Eberhard & Mario Preissler formative moves or sometimes restructuring, ■ Step 4: a “proactive and shaping” board, DistriConsult always keeping in mind that the ultimate ob- which not only ensures all aspects of good cor- jective is to execute a successful exit strategy porate governance are observed but also par- During the last decade the chemical distribu- in a sale or an IPO, often within a pre-deter- ticipates actively, and where needed strongly, tion industry has seen signiicant growth. In mined timeframe. in strategy formulation and implementation fact, the chemical industry as a whole has de- and makes sure initiatives stay on track. veloped and prospered. Strategic and controlling function While the speciic tasks and responsibilities Successful distributors have beneitted There are two dimensions in the role of a pro- of the board increase with the size and com- from a continued outsourcing trend and a fessional board. One is the formulation of the plexity of the business, even small- and medi- growing preference of producers for a lower company’s strategy and, tightly related to this, um-sized companies beneit largely from hav- number of distribution partners, who can pro- the supervision of its systematic execution. It ing a “pro-active and shaping” board. vide them with a pan-European presence and is about the decision on which markets the an in-depth coverage of the target industry company wants to address, and how it wants Main tasks segments they see as critical to their commer- to position itself in terms of cost position and The key task of a board is typically the overall cial success. value delivery. supervision of a company. This may vary a bit Many successful distributors have grown The other one is the controlling dimension, between different jurisdictions, but the key nicely and with Brenntag, DKSH, IMCD and where the board ensures and checks all as- underlying principles stay the same. Univar there are today a number of compa- pects of corporate governance like legal com- The board deines the strategy and trans- nies with a European presence listed on major pliance, risk management, adherence to ac- lates it into a set of objectives and goals, keep- stock exchanges around the world. counting standards and reporting. ing the purpose of the company in mind. It These companies have governance struc- takes care of the means and resources to The board deines the strategy and tures, including a board of directors, to guide achieve these objectives over time and to meet or supervise their management teams, as translates it into a set of objectives and these goals on an annual or quarterly basis. mandated by the relevant legal framework goals, keeping the purpose of the The board selects and appoints the individ- and the applicable stock market regulations company in mind. It takes care of the uals that will run the company on a day-to-day and listing rules. For privately owned compa- means and resources to achieve these basis. It also watches over their introduction, nies, the requirements in many jurisdictions objectives over time and to meet these training and continuous further education. It are much less stringent. goals on an annual or quarterly basis ensures a fully compliant and relevant corpo- But it is certainly worthwhile to ask whether rate governance structure, well documented such companies may not also beneit from a and for everybody in the company clear to two-tier management structure. In the real world, boards typically evolve see. It holds people in the company to ac- and develop with the size of the company. A count when needed. Shareholder strategy drives purpose larger and often more complex business typi- A good board balances chosen strategy, The purpose of a having a board of directors cally requires more professional processes in associated risk and available resources. The even if not mandated by law (an advisory order for it to be run successfully. There are managing director (or CEO) and the inance board), is dependent on the strategy of the ulti- four steps to a professional board: director (or CFO) can be board members, al- mate owner(s) of the company. ■ Step 1: the typical “friends and family” board though this is not a must. In a family-owned company, a board can with low strategic involvement and low (or What is important though, is that chairman bring additional stability and drive evolution- some would say weak) control over an often and CEO must be different people. There is ary transformation, particularly when a gen- headstrong owner/manager or “patron”. ample scientiic proof that a regular discus- eration change is planned for the not-so-dis- ■ Step 2: a German-style “Aufsichtsrat” (liter- sion between the two incumbents of these tant future. ally translated as “supervisory board”) with a roles leads to better decisions and ultimately It can also provide a form of independent clearly mandated strong controlling function, better performance of the company. advice, in case of a divestment, a sale to a but low involvement in strategy development trade buyer or a private equity investor, or and formulation. Composition of the board even during an initial public offering (IPO). ■ Step 3: the “sparring partner” type that pro- The number of board members depends to For private equity owners, the value of the vides advice, is active in strategy discussions, some extend on the size of the company. board can be around the facilitation of the un- formulating options and their selection, but However, boards should not have too many derlying “buy & build” approach, truly trans- has little to no involvement in governance. members, to ensure a focused and concen-

34 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_034-035 DistriConsult.indd 34 5/21/20 10:59 AM IN ASSOCIATION WITH

Board capabilities Being aware of such snippets of informa- tion and being able to organise all these data Functional Entrepreneurial Social Personal points in a coherent manner can and will have Speciic industry or Leadership Working in a team Has enough time to an inluence on a distributor’s future business. functional know-how experience allocate In an ever more complex world, being able to Financial Business Ability to accept Financial cast the net wide for regular information gath- understanding responsibility criticism independence ering is an important, if intangible and some- Strategic thinking Independent mindset Integrity times undervalued asset. Objective judgement A lively discussion during the strategy de- Source: DistriConsult velopment process will improve the quality of the decision making process. It helps to avoid trated discussion. For a mid-sized company ■ Coach group-think and the duality of Chairman and three to ive members may be su
icient. In ■ Consultant CEO allows for a certain level of positive “fric- a larger, more complex and diverse compa- ■ Controller tion” that ultimately leads to more reined and ny more six or seven may be more appropri- ■ Critical thinker… up to “devil’s advocate” well-rounded decisions. ate. Board members can be shareholders, ■ Innovator In crisis situations, such as the ones trig- as said before the CEO and/or CFO, and in- It is important to understand that not every gered by the current coronavirus pandemic, a dependent person. board needs to have all areas of expertise cov- board as a whole or individual members can In family owned companies with a long his- ered and/or all roles occupied at all times. be an extra resource, available to act as sup- tory, board members can be selected accord- Expertise can also be brought in on an ad- port and back-up to executive management. ing to a process governed by a shareholder hoc basis, be it ahead of and during critical This adds stability and increases resilience of agreement or a “family constitution”. Here it is projects or to prepare thoroughly for impor- the company leadership. important to select the representatives for tant decisions. Roles can be played by differ- Holding the management of a company their capabilities, rather than their a
iliation ent members at different times or in speciic to account in a deined and structured way with a certain part of a large family. situations. will ensure the necessary grounding of initi- A certain level of versatility is an asset in this atives, so that the ambitious plans devel- Capabilities of board members context. Each board will also develop a “mode oped by management will actually have a In order to work well together as a team and of operation”, based on an underlying set of much greater probability of being delivered to add value to the board as an entity, board dynamics that may make certain roles less rel- successfully. members should bring a mix of capabilities evant than others. An experienced chairman, This lies at the core of good and solid gov- that can be broadly described as outlined in like a good conductor, may at times orches- ernance. And when done well, this ensures the table above (not ranked). trate the meetings accordingly by giving out proper stewardship for the interest of all The above table is by no means conclusive. speciic assignments. stakeholders in a company, be it customers, Well-performing boards also regularly assess suppliers, employees, shareholders or the their performance, either in a critical self-as- Bene its gained wider community in which a chemical distrib- sessment or with the help of third-party ex- Having a well-structured and carefully man- utor operates. ■ perts. Where deicits are spotted, coaching or dated board of directors can be an asset to a Guenther Eberhard is managing training can be considered to improve indi- successful distributor. It brings additional in- director of advisory irm DistriConsult vidual and team performance. In occasional sights, independent thinking and often great- GmbH (Waedenswil, Switzerland) and cases of underperformance that are less se- ly enhanced decision making capabilities. member of the board of Dolder AG vere, a quiet but serious word from the chair- Well-connected board members, every one (Basel, Switzerland) man can help as well. integrated into her/his own network of a broad Mario Preissler is founder of Preissler range of industry, business or civil society con- GmbH – Chemical Industry Advisory Diversity beyond gender tacts, can pick up the “weak signals from the (Kuesnacht - ZH, Switzerland) and Boards should ideally exhibit a certain level of market”, on emerging trends or looming member of the board of Caldic B.V. diversity. And this clearly goes beyond the threats that would otherwise go unnoticed. (Rotterdam, the Netherlands) gender of its members. In our experience a good way to display the diversity is to draw a Board dimensions matrix with the two dimensions “Know-how” and “Team Role”. Examples for ields of speciic know-how can be: “Aufsichtsrat” Proactive & ■ Chemical distribution (industrial / specialty high (German-style) Shaping Board chemicals) ■ Supply chain and logistics ■ Legal ■ Finance “Friends & Family” “Sparring Partner” ■ M&A low ■ Internationalisation / cross-cultural man- dimension Controlling agement ■ IT, particularly Digital Transformation lowhigh ■ Regulatory Strategic dimension Team roles covered by individual board members can be: Source: DistriConsult

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 35

ICB_220520_034-035 DistriConsult.indd 35 5/21/20 10:59 AM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch

Michele Bossi, Jimmy Zhang & Jenny Yi PMMA, used in automotive ICIS Analytics headlights, will see a decline in demand Polymethyl methacrylate (PMMA) demand decreased sharply in Q1 2020 due to the out- break of the coronavirus in China in January 2020, and then in the rest of the world. The lockdowns started in January in China, spreading to the rest of Asia and then arriving in Europe at the end of February and hitting the US in March. The global lockdown has been affecting in particular the already weak sectors of automotive (with an estimated pro- duction loss of around 30-40% on yearly basis) and construction (production loss of 8-10%), where PMMA is massively used. The PMMA application that has been ‘lour- ishing with the outbreak is transparent sheets, which are used as protective barriers where the minimum required social distancing can- not be guaranteed. Key applications for PMMA include signs and displays, construction, automotive and electronics. Global PMMA demand was around 2.0m tonnes in 2019, with Asia ac- counting for 58%, followed by North America (19%) and Europe (18%).

“The stark impact of the coronavirus is expected to result in a 13% reduction in global MMA demand in 2020. ICIS expects a full recovery to materialise in two years with a strong (+10%) improvement in 2021, to be completed in 2022 (+7%)”

Demand has been growing at a com- pound annual growth rate (CAGR) of 2.1% since 2015, driven by Asia (+3.3%). However,

Shutterstock growth in 2019 was only 1.7%, due mainly to a reduction in the automotive industry in Eu- rope and in the US, and with the Chinese au- tomotive market under strain due to the trade dispute with the US. PMMA demand is expected to decrease PMMA faces further in Q2 2020 with persistent lockdowns in some countries in April-May and tepid signs of recovery not expected before June. Nation- al governments have imposed stimulus poli- cies to support their economies. long road to In China, for instance, about 13 provinces have published infrastructure spending plans, with investments totalling Chinese yuan (CNY) 33tr ($4.65tr), and some cities have im- plemented subsidies for vehicle purchases. A recovery recovery is expected in the second half of 2020 but the whole year would be much lower than 2019. Global demand for PMMA and MMA will be severely The severe impact of the coronavirus is ex- impacted by the coronavirus pandemic, and it could pected to hit all major regions, reducing global PMMA demand by around 15% in take two years for demand to return to pre-crisis levels 2020. We expect a full recovery in global

36 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_036-038 Analytics.indd 36 5/21/20 9:30 AM IN ASSOCIATION WITH

PMMA demand within two years, with a in Germany using a BASF licence and two, in One will be operated by Rohm (using its strong (+10%) but partial rebound in 2021 to Singapore and Saudi Arabia, using the Alpha new production method called LiMA) and the be completed in 2022 (+8%), returning to process, a Lucite International licence. other by MCC (using the Alpha process). pre-crisis demand levels. The Alpha process in particular seems par- MMA projects based on ACH have been an- Demand is then expected to grow at 2.4%/ ticularly cost effective. The plant started in nounced in China, with most of the new ca- year until 2030, driven again by Asia (+3.2%). Saudi Arabia in 2018 by Saudi Methacrylates pacities integrated with huge reˆinery expan- Growth demand drivers in the future will be (SAMAC), a joint venture between Mitsubishi sions. With the current di¥icult market the automotive, construction and LED ˆlat Chemical Corporation (MCC) and SABIC, is situation, some of these projects could be screens sectors, but also some new applica- saving around 40% of production costs, ac- easily postponed. tions such as 5G mobile phones, solar energy cording to the producer. and lithium batteries. Acetone-phenol impact On the supply side, in 2020 the contraction “We expect a full recovery in The ACH route for producing MMA is based on will reˆlect the demand crash with a recovery global PMMA demand within acetone feedstock, which is co-produced with expected in 2021-2022. One new PMMA plant phenol. For every tonne of phenol produced, is expected to start in H2 2021 - Qixiang Teng- two years, with a strong (+10%) 0.62 tonnes of acetone is co-produced. There- da Chemical’s 100,000 tonne/year unit in but partial rebound in 2021 fore the global supply/demand development Zibo, China. to be completed in 2022 of the two products is intertwined. (+8%), returning to pre-crisis As well as being used to manufacture MMA outlook demand levels” MMA, acetone is used in the production of PMMA is produced through the polymerisa- bisphenol A (BPA) and in solvents such as tion of the methyl methacrylate (MMA) mono- isopropanol (IPA) and methyl isobutyl ketone mer and accounts for approximately 56% of New MMA projects are anticipated in the (MIBK). The main acetone applications - global MMA demand. Apart from PMMA, next four years in the US and in China. The C2 MMA, BPA and solvents - are all equally im- MMA goes into the production of other meth- feed share is expected to increase when two portant, accounting for around one fourth of acrylate monomers and, in combination with new MMA plants using ethylene as feedstock acetone demand each. other monomers, into the production of coat- are forecast to come online in 2023-2024 in Phenol is used predominantly in the pro- ing polymers with various and valuable prop- the US, taking advantage of the local cheap duction of BPA (49%), phenolics resins (24%) erties. Residential, road-marking and industri- feedstock. and others chemicals. BPA is used in the ❯❯ al paints as well as powder coatings and inks are notable examples. MMA feed share Global MMA demand was around 3.6m C2 C2 tonnes in 2019, with Asia accounting for 59%, 8.6% 16.1% followed by North America (19%) and Europe C4 ACH 32.1% 59.3% ACH (17%). Demand has been growing at 2.9%/year 58.4% since 2015, driven by Asia (+3.8%). Growth in 2019 was only 1.7%, due to weaker than ex- C4 pected automotive demand. 25.5% The stark impact of the coronavirus is ex- pected to result in a 13% reduction in global 2019 2025 MMA demand in 2020. ICIS expects a full re- covery to materialise in two years with a strong (+10%) improvement in 2021, to be completed in 2022 (+7%). Global demand is then expected to go on growing at 2.7%/year until 2030, driven again by Asia (+3.7%). On the supply side, the largest producing Source: ICIS Analytics region is Asia, accounting for 56% of global MMA production in 2019, followed by North Global MMA demand outlook America and Europe, with 20% and 15%, re- ‘000 tonnes North America Europe Asia Others spectively. 5,000 MMA can be manufactured using differ- ent industrial processes based on either ac- etone cyanohydrin (ACH), isobutylene (C4) 4,000 or ethylene (C2). The regional feed distribution is mixed, de- 3,000 pending on feedstock costs and availability. North America and Europe use mainly the 2,000 ACH route, while in northeast Asia ACH and isobutylene are equally used - with China preferring ACH, and Japan choosing isobu- 1,000 tylene. The rest of Asia mainly uses the isobutylene route. 0 The route based on ethylene is the newest 2015 2019 2020 2025 2030 one, with three plants currently using it - one Source: ICIS Analytics

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tonnes in 2019, with Asia accounting for 58%, Michele Bossi is a senior analyst with followed by Europe (20%) and North America ICIS, with more than 20 years of analy- (16%). Demand for both acetone and phenol sis and consulting experience, focus- ing on aromatics intermediates and has been growing at 3.4%/year since 2015, derivatives. His main areas of exper- driven by the common derivative BPA and by tise are market analysis, supply and the strong Asian market. demand forecasts and price forecasts. The impact of coronavirus is expected to Michele is responsible for the ICIS PX reduce acetone/phenol demand by around and PTA Europe price forecasts. 15% in 2020. Jimmy Zhang is an ICIS analyst, fo- However, within acetone derivatives, IPA cusing on the Asia styrenics and PET and solvents involved in medical, disinfect- intermediates chains. Areas of exper- ants and hygiene are expected to register an tise include supply & demand analy-

Shutterstock increase in their share in place of BPA and sis, margin analysis and arbitrage PMMA is used to make checkout screens MMA, which are both typically used in auto- forecasts. Jimmy is responsible for the motive and construction sectors. ICIS PX, PTA, PET, Styrene, PS, EPS and ❯❯ ABS Asia price forecasts. In addition, production of polycarbonates (65%), As for PMMA and MMA, ICIS expects a full he provides consulting services used mainly in electronics, construction and recovery in acetone/phenol demand within across these industries. automotive sectors, and epoxy resins (34%), two years. A healthy (+9%) recovery is forecast Jenny Yi has more than 12 years’ expe- used mainly in automotive, construction and in 2021, to be completed in 2022 (+7%). Global rience working as an ICIS analyst and remodelling sectors. Phenolic resins are used demand is then expected to go on growing at consultant in the petrochemicals sec- mainly in the construction industry. 2.2%/year until 2030, driven again by Asia. tor. Focusing on China’s aromatics and Global acetone demand amounted to On the supply side, as a consequence of phenol/acetone industry, she has par- 7.4m tonnes in 2019, with Asia the leading the crisis of demand, production cuts have ticipated in various market research consuming region with around 52% of global been implemented in 2020 by producers all projects for petrochemical companies, both in China and abroad. Jenny co- consumption. North America and Europe over the world and the announced acetone/ authors the monthly ICIS Benzene combined accounted for about 42% of glob- phenol complexes in China (three in 2020- Global price forecast report and is also al consumption. 2021) and in Poland (one in 2023) could see responsible for the Caprolactam Asia Global phenol demand was around 11.7m some delay, due to weak market conditions.■ and Adipic acid Asia price forecasts.

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ICB_220520_036-038 Analytics.indd 38 5/21/20 9:37 AM IN ASSOCIATION WITH Sanitizer boom to persist – Caldic CEO Expect stronger demand long term as people focus on hygiene at home and at work

Will Beacham Barcelona essential industry as it is an important part of the life sciences supply chain. The boom in demand for isopropanol (IPA), Working from home has been encouraged pharma-grade ethanol and other sanitizing with other staff remaining on site including products will be permanent amid an increased warehousing, trucking, labs, quality control focus on domestic and workplace hygiene, ac- and manufacturing. The group implemented a cording to the CEO of Dutch distributor Caldic. protocol for safety with measures for social dis- Europe IPA prices tripled between February tancing, handwashing, sanitisers and restric- and April, as manufacturers and distributors tions to communal areas such as canteens. scrambled to meet an unprecedented spike in There have been no layoffs with cost sav- demand caused by the spread of coronavirus ings coming from reduced travel expenses. from Asia across Europe and North America. “Feedback from the team is that everyone Olav Van Caldenborgh said: “Raw materials is missing human interaction and social con- for cleaning and sanitizers – that’s been boom- tact with colleagues.” ing. This is new demand that has been created He said the crisis had shown the impor- which is not just a spike; it will be here to stay.” tance of online marketing of concepts for He predicted that hand sanitizers will now be new applications, as well as increased video

in work places and homes everywhere perma- Caldic conferencing. nently. He said Caldic’s order books for are full Caldic has seen a sharp rise in demand for May and June. The CEO said demand for IPA for IPA and pharma-grade ethanol Growth strategy and pharmaceutical-grade ethanol has soared. The CEO’s father set Caldic up in 1970 with “Demand was crazy but we had principals coatings and products for the moulding com- Van Caldenborgh taking charge in 2006. In supporting our supply. Some of our principals pound industry. 2017 the CEO purchased the company from asked us to support their new customers be- Logistics bottlenecks have caused up to two his father with the backing of Goldman Sachs cause we do specialty packaging to United week delays in deliveries for some products. which is a majority shareholder. States Pharmacopeia (USP) standards.” Acquisitions are ¥inanced by operational USP is a US quality standard for pharma- Life sciences eases impact cash¥low rather than borrowing. “Around 80- ceutical products. Caldic’s roughly $1bn in sales are split 75% in 90% of our M&A is small to medium sized en- life sciences with the remaining 25% industri- terprises (SMEs). But if something transforma- Customers forced to close al. Throughout the crisis demand from the life tional did come up, Goldman Sachs have Van Caldenborgh said some customers had sciences sector has remained stable or has been very supportive.” been forced to close as governments decreed grown in areas such as food retail, cooking Caldic is present in 18 countries and em- they were not “essential” and so had to shut, and sanitation products. ploys 1,200 people. ■ particularly in Malaysia, Italy, Spain and France. Van Caldenborgh said: “We had a very “That’s been challenging though we have strong Q1 with April above budget. For the full Europe IPA price triples seen some easing in Spain with construction, year we still forecast growth on last year €/tonne, spot FD NWE In France Michelin has reopened.” though this depends on what governments Cosmetic and 3,500 pharmaceutical With the global automotive sector almost at do. It feels like Europe is trying to get back to Technical a standstill, demand for everything related to normal from June and if that’s the case we will 3,000 that sector is lower, including rubber, plastics, have a healthy 2020.” He added that for every country with a lock- Olav Van Caldenborgh down, the ¥irst week-10 days saw higher de- 2,500 CEO, Caldic mand, a sort of panic buying, across all Cal- 2,000 “Raw materials for dic’s sectors which he believes was related to fear of supply chain disruption. cleaning and sanitizers After 2008/9 ¥inancial crisis Caldic decided 1,500 – that’s been booming. to refocus on life sciences because that sec- This is new demand that tor had remained stable during that period. 1,000 has been created; it The CEO said that Caldic has remained will be here to stay” 100% operational throughout the crisis. In all 500 areas the company has been classi¥ied as an May 2019 May 2020

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 39

ICB_220520_039 Caldic.indd 39 5/19/20 10:30 AM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch Brenntag prepares for tough quarter Company has implemented careful inventory management and is reviewing use of third party logistics and overtime. M&A to focus on high growth areas

Will Beacham Barcelona

Brenntag, the world’s largest chemical dis- tributor, is prepared for a tough second quar- ter, with lower industrial production leading to slower demand compared with the €irst. The Germany-headquartered group has adopted measures such as restricting over- time and paying strict attention to cash levels to safeguard its business as the impact of coronavirus-related shutdowns hits econo- mies around the world. Christian Kohlpaintner, who became CEO in January 2020, led the company through a relatively benign €irst quarter as the coronavi- rus impact was restricted to China and other parts of Asia. Into the second quarter, however, and he is having to navigate Brenntag through steep declines in GDP and industrial indicators around the world. Kohlpaintner said, “For Q2 we expect a dif-

ferent business dynamic. Patterns of indus- Shutterstock trial output have changed in Q2 with fore- Brenntag will focus M&A activity on Asia and the more resilient end-use markets casts of industrial production falling by 14-17% – we are carefully navigating this situ- inventories and carefully manage levels. “Basically anything connected to automo- ation of slower demand.” There is a balance between securing supply tive has taken a noticeable hit. On the Brenntag has yet to reduce its headcount and managing working capital – our exposure plus side food and nutrition, cleaning, per- or furlough many staff, but is looking at other to inventories is low with an average order sonal care and water treatment have all per- ways of saving money such as using third- size of €3,000.” formed well: it’s not as simple as saying that party logistics or cutting overtime. industrial has been badly hit and specialties Careful inventory management is also a Conserve cash less so. It’s determined more by the end- high priority, especially at a time when crash- Kohlpaintner said Brenntag has a solid bal- use markets.” ing chemical prices can expose companies to ance sheet amid the crisis. It holds €600m in Kohlpaintner said Brenntag’s logistics op- losses on expensively priced stock. cash and a similar amount in credit lines erations have remained relatively unscathed The CEO said, “We have a high turnover of which it has not needed. “We are present in 77 since the lockdowns kicked in. countries with 195,000 customers. We are In China – where Brenntag sources Christian Kohlpaintner watching payment behaviour carefully and €300m/year of supplies – its supply chain CEO, Brenntag have not seen any major impact from the cri- had been well stocked in preparation for the “I want to be more sis so far,” he added. Lunar New Year shutdown. Supply from China has been maintained since then “with a few selective in M&A because Market impact exceptions.” I believe it’s important Following the oil price collapse and a shrink- In Europe, there have been no real hiccups to focus on investing [in] age of that sector in North America, Brenn- on the supply side. There was a shortage of countries with higher tag’s oil and gas business has been badly af- hydrochloric acid because it is a by-product GDP growth rates” fected, and its lubricants and some rubber of methylene diphenyl diisocyanate (MDI) and businesses are also suffering. toluene di-isocyanate (TDI) production which

40 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_040-041 Brenntag.indd 40 5/20/20 4:51 PM IN ASSOCIATION WITH

have been affected by the automotive shut- market,” the CEO said. story. We need to strengthen our organic down. However, there have been shortages Kohlpaintner signalled a greater concentra- earnings growth and have started a holistic on the demand side – for products used in tion in Brenntag’s mergers and acquisitions analysis we call Project Brenntag,” he said. disinfectants and hand santizers such as iso- (M&A) strategy towards Asia and the more re- Because of the pandemic, the M&A market is propanol (IPA) and ethanol. silient end-use markets. quiet with players cautious about transactions. He said, “I have sharpened the focus of our “But we still have a full M&A pipeline and Satisfactory irst quarter acquisition pipeline – I want to be more selec- intend to explore and develop projects. We According to Kohlpaintner, “The virus impact tive in M&A because I believe it’s very impor- will wait and see what the world looks like in on our business was limited in Q1 and we tant to focus on investing [in] countries with 2-3 months,” said the CEO. were happy overall with our result. Out of higher GDP growth rates, especially in Asia. I more than 17,000 employees we only had also want to invest in segments with more at- Analysts raise earnings estimates around 30 infections – that’s an impressive tractive growth rates such as food & nutrition, Analysts at Credit Suisse upgraded the invest- result with regard to health and safety. We personal care and pharma.” ment bank’s earnings estimate for Brenntag’s have had very few problems with staff work- However, Kohlpaintner does not exclude full-year results by 7.5-9%, “following strong ing from home – globally 49% of our staff investing in North America, Europe or indus- Q1 results and our growing belief that man- worked remotely.” trial segments if there is a strong reason agement will be able to drive future organic The CEO said all of Brenntag’s warehouses to do so. growth and margin expansion with tailwinds had remained open, allowing it to continue from increased outsourcing penetration.” ■ serving customers globally. Accelerate organic growth Kohlpaintner has been disappointed by Brenn- Christian Kohlpaintner No 2020 forecast tag’s organic growth over the last ¡ive years and CEO, Brenntag Brenntag has joined many other companies in when he became CEO implemented a plan to withdrawing its earnings guidance for full year improve performance in this area. He pointed “For Q2 we expect a different 2020 – a lack of visibility has made forecast- out that organic gross pro¡it growth has only business dynamic. Patterns of ing all but impossible. averaged 1-2%/year over that period. industrial output have changed in “It is not realistic to give a forecast for 2020 “This is not what we should be able to de- Q2 with forecasts of industrial and we have pulled our guidance. As soon as liver – organic earnings growth has been dis- production falling by 14-17%” we have better visibility, we will update the appointing. Growth has largely been an M&A

BAG_Ad_ICIS_197x130_E01.indd 1 30.04.2020 11:45:48 www.icis.com 22-28 May 2020 | ICIS Chemical Business | 41

ICB_220520_040-041 Brenntag.indd 41 5/20/20 4:51 PM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch Cash is king for chems distributors Coronavirus has disrupted chemicals markets, with both customers and suppliers putting distributors’ working capital under pressure

Will Beacham Barcelona clude asking customers to pay more promptly and extend payment terms with principals or Chemicals distributors need a razor-sharp any suppliers. Prior believes the best relation- focus on cash and working capital as corona- ship with principals is a proper partnership virus changes customer and supplier behav- where you can share both the pain and the iour, the chairman of UK-headquartered dis- good times. tributor Cornelius Group says. “Look at government schemes for guaran- Disruption to chemicals markets caused by teed loans, furloughing staff, really manage coronavirus lockdowns is having a heavy im- inventories – shift it, move it, even if you have pact on company ƒinances, forcing some cus- to sell at break even. Distributors will be decid- tomers to delay payments while suppliers ing who are core people and who can they do want bills to be settled earlier than usual. This without at the moment.” can leave distributors – stuck in the middle of Cornelius has furloughed around 40 peo- the supply chain – with a lot of pressure on ple, about a quarter of its UK staff. The govern- working capital, according to Neville Prior. ment pays 80% of their salaries up to £2,500 He said: “We are seeing some customers with Cornelius topping up the shortfall. ask for increased payment terms - that im- The staff affected are mainly non-opera- pinges on cash. Also, suppliers can reduce tional roles such as regulatory and head ožice their payment terms, though we haven’t seen staff. Production, quality control and ware- that. Distributors tend to feel the squeeze be- housing staff are not affected. Most people tween the supplier and the customers. You were furloughed in mid-March and Prior ex- are stuck in the middle and in terms of cash a pects to bring them back to work in June if the lot of distributors will be stretched out from lockdowns are lifted and business returns as both directions.” they predict. He believes biggest issue right now for dis- tributors is cash. “If you have a solid balance Working capital sheet then the proƒit doesn’t matter. It’s having “We are talking with our bank in case we (value added tax): I think the UK government cash in the bank that matters. Inventories im- need more working capital – increasing our has done a lot to help businesses through,” pinge on cash – most distributors will be try- overdraft – but we have not used any govern- he added. ing to reduce them if they can.” ment-guaranteed loans at the moment. We March was a record month in terms of sales Prior said it is particularly important at pre- will beneƒit from deferred payments of VAT for the group, but sales fell by around 15% in sent for distributors to assess their forward April. Prior expects 2020 sales to be around cash positions and make provisions for any Neville Prior 10-15% lower than 2019’s £60.5m result. The pressure on availability of working capital. Chairman, Cornelius Group company is planning for various coronavirus “Don’t bury your head in the sand. You Distributors tend to feel the scenarios which include March, April and May must have a picture of your forward cash. We as the toughest lockdown months with the are doing two-month forward forecasts. You squeeze between the supplier and economy getting back to speed in June, July need a decent ERP (enterprise resource plan- the customers. You are stuck in the and August. Thereafter, it is modelling for ei- ning) system for that for forward orders, pay- middle and in terms of cash a lot of ther a gradual return to normal conditions or a ments due.” distributors will be stretched out second wave of infections in the winter. Distributors that think they may be running from both directions Most affected earlier in March and April was short of cash have various options. These in- demand for industrial chemicals which fell

42 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_042-043 Cornelius.indd 42 5/21/20 10:50 AM IN ASSOCIATION WITH

consumer demand for paint, ‡iller, anything registrations are now held in Poland rather DIY [do it yourself home improvements] as than the UK. Prior is more worried about the the DIY sheds reopen. They will need prod- potential costs and disruption of adhering to a ucts so we expect construction-related sec- new regulatory regime than any problems at tors to improve from May.”t borders and with supply chains after the Brex- All non production and warehousing staff it transition period ends, currently 31 Decem- have been forced into a digital working from ber 2020. home experiment. Only ‡ive staff remain at “UK Reach is a concern. The message I the company’s headquarters out of around get from government is that it does not 100. Production and warehousing staff have want to disrupt UK business but the UK been split into shifts with only one third of wants to create its own legislation and not staff working at a time. be tied to the EU.” “If you had asked staff before about home working most said they would prefer coming Neville Prior to the o•ice. But because they have been Chairman, Cornelius Group forced to do it, I would say 95% now say it’s really good. They would like to come to o•ice “People have become kinder; they but not every day and are more productive at have more time to talk about home - they would like to carry on with ‡lexible things other than product, price, working.” ‘when can I have it?’ That side will Prior believes the crisis has accelerated the ultimately move digital.” existing process of digitisation: “We were moving in that direction anyway. But because of the crisis we have not had to go through The plan is for UK chemical companies to these weeks, months or even years of culture transfer or “grandfather” across EU Reach change and change management.” registrations, including safety test data, into a new UK Reach. But this may not be More effective sales team straightforward. In the pre-digital age if a sales representative “All that Reach testing data is the property got a couple of meaningful meetings in a day of companies. We have been lead registrant that would be quite a good result for someone for some products and the test data can be a on the road. Sales can now do 5-6-7 of these a huge amount of money. Even if EU companies day via video platforms. will sell the data, it won’t be for nothing so There has been a shift in culture: “Sales tell there will be a lot of expense.” me customers have reacted well to remote The UK is hoping to make some sort of link meetings. It works well; you can have just as with the European Chemicals Agency (ECHA) good a discussion as you would face to face, such as mutual recognition of registrations, or unless you need to demonstrate a new prod- exchange of data, which will make the whole uct. Meetings are quicker and less polluting.” process easier. He also believes the business world has be- “My feeling is that the EU won’t make it easy come kinder and less transactional. People for us, even though businesses want to make are more concerned about each other. Cus- it work,” he said. tomers even call sales staff to check on them during the lockdown. Supply chain challenges “People have become kinder; they have Cornelius is having lots of dialogue with more time to talk about things other than customers about managing supply chains

Shutterstock product, price, ‘when can I have it?’ That side and stock levels when the Brexit transition will ultimately move digital.” period ends. A solid balance sheet and cash in hand “We don’t plan to source more from the UK matter most right now, says Prior Digital platforms as we have some good principals in Europe. Platforms have a lot of hurdles to overcome, Moving stuff across borders is part of what we around 50%. These include pigments, resins, especially for specialty chemicals. For com- do - OK there might be some duty to pay but I additives for paints, and other products for modities where the buyer knows exactly what predict the duty on chemicals will probably construction or automotive end use markets. he wants, platforms are more suitable. They be zero,” he said. However the pharmaceuticals market has will just be another route to market, he says. Prior believes the UK government recog- been basically untouched by the virus with In specialties, though, you have to help the nises that the basis of nearly all the country’s cosmetics and personal care also far less af- customers understand how to use the prod- manufacturing is the chemical industry. fected than industrial. Demand for products ucts with a lot of technical knowledge often “I’m sure it will be tough in the ‡irst cou- serving the food sector has been strong. De- involving the company’s laboratories. For this ple of months but it will be a bit like life mand also spiked for products going into kind of sell the digital platform is not the ideal after Covid – adjusting to a new normal,” printing, especially inks for packaging. way to help your customers, says Prior. he said.” ■ Prior said: “We expect May to pick up. Paint Cornelius created 10 new roles in Poland as Neville Prior is president of the Fecc producers felt they were not “essential” so a it switched any EU-related sales and customer (European Association of Chemical lot closed down. There will be a lot of pent up service to the EU and out of the UK. Reach Distributors)

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Will Beacham Barcelona Martial Lecat Part time employment has been intro- CEO of Sainca, the holding company of Saic duced in France and Germany for all jobs not Alcan French distributor Saic-Alcan is putting directly linked to customers. Employees its mergers & acquisitions (M&A) strategy on “I bought 30 companies from have been asked to use their vacation time hold for 2020 as it focuses on managing 1999-2019 and we have grown one day a week, including Lecat. its way through the impact of the coronavi- 10%/year on average, rus crisis. Change to company culture The company has achieved half its growth 5% organically and 5% From the middle of March employees were over the last 20 years from acquisitions, but by acquisition” told to work from home, where possible. this year will pursue opportunities for organ- “After two months I think we will have ‘be- ic growth instead, according to Martial seen customers postponing orders, but some fore’ and ‘after’ the crisis company culture - Lecat, CEO of Sainca, the holding company requesting early delivery. My feeling is that the organisation will change. I think we can of Saic Alcan. May and June will be the worst months - the save some square metres in o¦ice space as He said: “I bought 30 companies in 20 budget was 6% growth on 2019 but today I more people will work from home, especially years from 1999-2019 and we have grown think we will be down on last year.” for roles like commercial where it works.” 10%/year on average over that period, 5% Saic-Alcan developed coronavirus stress He believes customers and supplier have organically and 5% by acquisition. We need tests with a scenario of a return to visibility by reacted well to doing business over the web, to continue this dynamic but nothing will September of this year. By then the company accelerating a change in the company’s way happen in 2020, perhaps in 2021 we will re- is modelling for all markets to be back on of doing business. turn to acquisitions.” board with plants reopened. Under the best Expanding from its French roots, the com- case scenario this would happen by June or Martial Lecat pany is now present all over Europe, in the US, July, but by now Lecat says he thinks this is CEO of Sainca, the holding company of Saic China and Turkey. It has broadened its prod- not realistic. Alcan uct range from rubber to compounding in- The president said that by the middle of cluding adhesives, coatings, polyurethanes March the company was getting warnings “My feeling is that May and (PU) and plastics, such as nylon. about how serious the situation was going June will be the worst months - From distributing 100% rubber in 1988, the to be. Some truck drivers were not willing to the budget was 6% growth on split has now evolved today to roughly 34% travel because the services were closed. 2019 but today I think we will be rubber, 18% pharmaceutical applications, The second problem was warehousing down on last year” 18% cosmetics and 18% coatings. The com- where there were no gloves, masks or hand pany’s portfolio is now 100% specialty with gel available at the beginning of the crisis. all products requiring technical support, ac- In addition, 20% of the company’s custom- “We will still need to meet face to face for cording to Lecat. ers closed their businesses at the start of some things such as signing important con- As well as M&A the company has grown the crisis. tracts but for the preparation we can save a lot organically into Russia, where it started in “For two to three days, it was uncertain if of costs,” he said. 2018, and Poland in 2007 where it now em- we could continue but today it is all okay with In 2019 the company launched a digital ploys 25 people. only two days delay to deliveries.” sales and marketing project and built a strate- “Perhaps we will start from scratch in a new gy. It launched in 2020 with a plan to make country such as South Africa,” he said. Cash management “huge” investments in the next ive years. Being focussed on specialties, the group “We have accelerated the project in 2020 Virus hits business was not affected in terms of inventories by and, for example, in a few weeks will have a The company experienced a reduction in the oil price crash. The group keeps 30-45 webinar with more than 500 people invited demand from rubbers and plastics for days of inventories. to attend to introduce a new product and the automotive sector as the industry shut Cash and working capital is a top priority product pipeline. It will be a two-hour techni- down from mid-March. But this has been for all distributors during this time of upheav- cal presentation.” balanced by personal care and pharma plus al. Lecat said that since the 2009 crisis, there The irst phase of the project is to intro- products like alcohol gels which helped push has been a big focus on monitoring custom- duce an online product picker and enhanced it more than 5% over budget for January er payments. digital marketing. to March. The late payment rate has risen from 2.5% Around 80% of employees are company “At the end of April we were 9% down for at the beginning of March to under 5% by the shareholders and hold together a majority. the month on our budget and in May we have end of April. “We control the company,” said Lecat. ■

44 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_044 Safic Alcan.indd 44 5/21/20 8:53 AM IN ASSOCIATION WITH Post-Brexit clarity needed: Tennants Company concerned that the Brexit negotiations have not yet yielded any detail on the post-2020 framework, as the 31 December transition period deadline looms

Will Beacham Barcelona trating because it initially it looked like there industrial paints and coatings and some aspects would be regulatory alignment, now it looks of health and beauty such as cosmetics have With no end in sight to Brexit negotiations, a like divergence.” been quiet. Some closed businesses are now leading UK-based distributor is frustrated that The executive is concerned that without gradually reopening as the lockdown is eased. there is still no clear picture of the country’s access to ECHA it will be impossible for the “The last 3-4 weeks we’ve seen customers replacement for the EU’s Reach scheme. UK’s Health and Safety Executive (HSE) to cre- closing without notice. We’ve tried to make de- With the country due to exit the post-Brexit ate an equivalent regulatory regime to Reach. liveries and have had to bring the goods back transition period on 31 December 2020, com- “The costs would be too high and the time on site. That creates a challenge to manage in- panies such as Tennants Distribution need to frame impractical,” he said. ventories and stay inside regulatory limits.” know how to prepare for the new regulatory There has been increased demand for sanitiz- regime, known provisionally as UK Reach, ac- Distributors may have to register ers, soaps and detergents, inks and solvents for cording to managing director, Tim Griˆiths. Manufacturers rather than distributors often packaging printing, packaging œilms and car- The UK government is still locked in negoti- handle EU Reach registrations so the burden of tons for food production and medical products. ations about the format of a post-transition adhering to UK Reach will fall mostly on their trade deal with the EU. The political declara- shoulders. Some may not bother, and just with- Tim Griiths tion signed by both sides ahead of the talks draw products from the UK market instead. MD, Tennants Distribution explicitly states the aim of cooperation with Griˆiths is concerned that distributors may the European Chemicals Agency (ECHA). end up shouldering the responsibility for “If it’s only a small market they But very little progress has been made so these UK Reach registrations. may not want the cost and far with the UK aiming for regulatory diver- “UK Reach is not yet online and it will be up to complexity so it may fall on gence and the EU seeking regulatory conver- the manufacturers if they want to register prod- distributors to do those gence. This raises the prospect of a no-deal ucts for UK Reach. If it’s only a small market they registrations” exit at the end of the year. This would leave may not want the cost and complexity so it may the UK government scrambling to create a fall on distributors to do those registrations. It new regulatory regime in a very short time. would be nice to have some certainty.” “Some areas are very busy but some cus- With or without a deal, the chemicals sector He believes it will not be realistic to simply tomers are closed. We’ve encouraged drivers will face increased regulatory complexity as switch from EU27 to UK sourcing for its prod- and operatives to take holidays where neces- well as delays and new customs procedures. uct portfolio. sary and reduced use of third party logistics Griˆiths said: “We have left the EU but there “The number of chemicals we could source where necessary,” he said. are no plans beyond January and we are par- from the UK is limited. We represent a number Griˆiths said Q1 was on a par with Q1 2019. ticularly concerned about UK Reach. It’s frus- of UK manufacturers but there are so many The second quarter (Q2) of 2019 was quiet products not now made in the UK: you have to due to post Brexit deadline destocking and he get them from Europe or the rest of the world. will be surprised if Q2 2020 is more than 10% The UK is not an option.” lower than last year. Tennants has increased resources in its “It’s beyond Q2 that concerns me - you can technical department and trained extra peo- take one slight dip in a quarter but we have to ple to prepare for Brexit. hope it doesn’t last the whole year,” he added. “Once we know what UK Reach will look like we will be able to prepare. But no-one Logistics challenges knows!” he added. Malaysia’s shutdown affected Tennants more than China’s because the country’s oleochem- Coronavirus impact ical reœineries were closed. The company is a Griˆiths said March was busy for orders but a large seller of fatty acids. dip in April has been sustained into May. He Lead times from China have risen by several said many customers have diversiœied into months with products now expected to ship in other products with everyone who possibly October/November rather than June/July. can now making hand sanitizers. Tennants sources animal feed, vitamins and

Shutterstock A lot of companies connected to automotive minerals, basic chemicals such as acids, metal Brexit transition ends on 31 December have closed, such as metal plating companies, salts, solvents, catalysts and resins from China.■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 45

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Joseph Chang New York

The coronavirus crisis will accelerate the drive to digitalisation for chemical distributors to more e iciently serve customers, said the CEO of Belgium-based chemical distributor Azelis. “This crisis will not only further accelerate the drive towards digital but also the trend of dealing with Širms that offer one-stop innova- tion services,” said Hans Joachim Muller, CEO of Azelis. “In a couple of years from now, the spe- cialty chemicals and food ingredients distri- bution industry won’t be seen as somebody you take on because they distribute your products. Our principal partners will entrust their portfolio more and more to us because they appreciate that we are in the position to offer the entire lateral value chain for a given market segment to customers,” he added. This lateral value chain of product offer- ings could be compared with a supermarket, but with the added beneŠit of offering advice and expertise to customers through labora-

tories “how to cook, or – in distribution terms Azelis – how to formulate”, he noted. Azelis’ e-Labs are among the smart ways of increasing competitive advantage “Innovation through formulation is a key trend today and is set to be a prime value driv- er for years to come,” said Muller.

Focus on digitalsation Azelis was already focusing on digitalisation Coronavirus as well as sustainability before the coronavi- rus outbreak and its dedication to these initia- tives has only grown stronger during this time, he said. “When it comes to digitalisation, we have to boost made some signiŠicant investments lately which have, for example, made the sudden switch to home working a smooth one, with- out any compromise to the quality of our ser- vice to our business partners,” said Muller. digital move “Enhanced service to our customers is al- ways on top of our agenda and digital tools Azelis CEO Hans Joachim Muller expects an like e-Labs are among the smart ways of keep- ing the competitive advantage,” he added. acceleration in digitalisation efforts from the crisis and Azelis’ e-Lab is a digital formulation project for the company to emerge in a stronger position management tool targeted to the personal care sector, and designed to optimise cus- tomers’ time to market. ingredients and regulatory documents ployees are working from home and getting It offers a direct line to its applications through a single digital hub. the job done, said the CEO. labs and online R&D project management “Our main goal is always to help our cus- “When this all started, keeping our em- with no geographic or time barriers. Cus- tomers shorten their path to market, help ployees healthy and safe was our highest pri- tomers can thus get formulation support, them become market leaders, expand on their ority. In light of that and in line with local au- ideas and offer them new ones,” said Muller. thority recommendations, the majority of Hans Joachim Muller “All this can be done in person, and noth- our employees were immediately asked to CEO, Azelis ing will ever replace the importance of per- work from home. sonal relationships in our industry, but tak- “This move – all of us moving into our “Given that more than 60% of our ing this innovation capability into digital home o ices – worked out very well and con- portfolio serves life science space is complementary to that personal Širmed that we do live up to the aspiration to industries, we are pretty conident contact and makes that formulation journey also be a digital leader in our industry,” said that this portion of our activities a more e icient one for both us and our cus- Joachim Mueller. will weather the storm well” tomers,” he added. “Very early in the outbreak, we put together Amid the pandemic, most of Azelis’ em- a cross-functional Covid-19 coordination

46 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_046-047 Azelis.indd 46 5/21/20 8:49 AM IN ASSOCIATION WITH

team that monitors the situation and imple- serves life science industries, we are pretty strong link to the automotive industry but ments measures across Azelis as the situation conident that this portion of our activities will there are also plenty of R&PA customers in evolves. From the onset of the crisis, we have weather the storm well,” said Muller. other industries such as packaging where had regular updates and open communica- “On the industrial segments, the picture is there is more resilient and even increasing de- tion lines with our principals, in order to as- somewhat less favourable but still, even here mand, the CEO noted. sess supply of goods, possible disruptions we do see quite a few of the segments holding The distributor is seeing a signiicant in- and sourcing of alternative materials if and up nicely. How long will it last? Nobody can tell crease in demand for home care, food, nutra- when possible,” he added. with any certainty right now, but we are work- ceuticals and pharmaceutical offerings. ing on the assumption that the pandemic will “This increase is mainly driven by higher Sustainability momentum have an impact on business at least for the en- demand for the ingredients that are used in Along with digitalisation, Azelis is sharpening tire year 2020 – likely longer,” he added. the production of disinfectants, immune sys- its focus on sustainability. The company in Azelis is seeing business decline mainly in tem boosters and inhaler gases, to name March 2020 was awarded a 2nd consecutive the CASE (coatings, adhesives, sealants, elas- only some. All in all, we are still doing well but EcoVadis Gold rating. This measures corpo- tomers, inks, building and construction prod- economic consequences of this pandemic rate social responsibility (CSR) across a num- ucts) and R&PA (Rubber & Plastic Additives) will eventually be unavoidable,” said Muller. ber of categories. Azelis also became a mem- segments but in varying degrees across re- Even as the year-on-year backlog in May ber of Together for Sustainability (TfS), a gions and also within subsegments. For ex- and June still looks promising, the CEO ex- global initiative for sustainable supply chains. ample, R&PA is being badly hit due to its pects “some of these orders might eventually only be shipped with a delay”. Weighted towards life sciences Hans Joachim Muller “There is so much uncertainty out there Azelis, with a strong presence in the food, nu- CEO, Azelis and things can change very rapidly. We are traceuticals, pharmaceuticals, agro, personal “This crisis will not only monitoring the situation daily, and adjust the care and household & industrial cleaning sec- measures immediately if there is a new devel- tors, is well positioned amid the coronavirus accelerate the drive opment,” said Muller. crisis, although it is still di–icult to predict the towards digital but also the “We are once again proving to be a very overall impact on its business, the CEO noted. trend of dealing with irms united team which is a great reassuring factor “Demand in the life science segments we that offer one-stop in these unprecedented times… I am coni- are serving is only marginally affected, if at all. innovation services” dent we will come out of this crisis even Given that more than 60% of our portfolio stronger than going into it,” he added. ■

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Will Beacham Barcelona

German distributor Harke expects to grow its business this year, despite the impact of the coronavirus on its markets. The company’s home and personal care business, which includes products in high de- mand such as isopropanol (IPA), helped drive a 25% hike in ˆirst half gross proˆit compared with last year, according to the company’s president and owner, Thorsten Harke. He said: “The business is running quite well – we are booming – around 25% above last year in terms of gross proˆits, mainly driven by cleaning, personal care, disinfectants, and base chemicals such as IPA.” The company’s pharmaceutical business is also growing this year and even industrial

areas are not doing so badly, he said. Harke “We had availability for IPA so could proˆit a Harke’s home and personal care business helped drive increase in irst-half pro it little bit from the tightness in demand and sell at a good price.” For the second half, Harke expects home and personal care (HPC), pharma and food to do well but industrial areas like coatings, plas- tics and polymers might have a more di“icult Harke grows time with pressure on prices and margins. For full-year 2020 he expects the company’s result to be above last year with some growth in turnover, gross and possibly net proˆit too. Growth in the do it yourself (DIY) sector during the lockdown has supported the com- despite crisis pany’s construction business. Some custom- ers had to close in Spain and Italy as they were Company sees full-year 2020 expansion driven by not classiˆied as essential, most have contin- ued operations. home and personal care, pharmaceuticals and food

Freight rate issues fell and amid increasing overcapacity. There is “We see a price crash emerging in Asia – Because of the disruption caused by corona- currently a $100 difference in price per con- India and China too. In China downstream con- virus lockdowns around the world, air freight tainer from $950/container up to $1,100-1,150 sumption is still very weak. Demand is weak rates have increased dramatically, tripling in on the Japan to Europe via Shanghai route. especially in automotive and construction.” price. Air freight from Japan to Europe has There has been disruption of deliveries from Harke expects a sharp slowdown, varying gone from €3-3.5/kg up to €5-10/kg depend- China with containers sometimes sitting in according to end-use industry during Q2, with ing on availability. This is because there are Shanghai for 2-3 weeks for shipment to Spain. industrial areas suffering more than specialties. fewer passenger ˆlights which are normally “I guess they are waiting for the ships to ˆill “But we are diversiˆied and can ˆight the also used for freight. There are only two ship- up. For the lockdown countries there is not slowdown,” he said. ments per week when there used to be ˆive. enough demand/containers circulating.” Harke does not really see online market- “We send water-soluble ˆilms by air used for In Europe the company experienced prob- places as a threat to the traditional role of dis- packaging laundry and dishwashing deter- lems with ˆinding truck drivers willing to go to tributors, because of the range of services gents. The market is very tight and customers Northern Italy. But it did not experience prob- and lines of communication they offer. require urgent deliveries, obliging us to use air lems with inter-modal transport. “Online marketplaces can’t guarantee timely freight,” said Harke. supply or offer services such as pre-ˆinancing. Sea shipping rates rose 8-10% as the crisis Prices and inventories We are updating prices all the time and this is unfolded but went back down as the oil price Coatings and polymer prices have fallen by di“icult to do with online marketplaces. We see 8-10% recently. “We have not had big losses on some role for these but customers expect to Thorsten Harke inventories. We are slowly liquidating our stock have someone they can call,” he added. President, Harke Group in line with the fall in prices. I told everyone to Germany and Switzerland account for 30- minimise stocks but for pharma and specialties 40% of the company’s sales. The pan-Europe- “The business is running we tend to keep stocks for security reasons.” an company had a big boost in the UK market quite well – we are Prices in Q4 2019 rolled over to Q1 and Q2 of in 2019 with the acquisition of Chemlink Spe- booming – around 25% 2020. The company now expects to see a cialities and Addi-Tec. above last year in terms price decline for the end of Q2 into Q3 of Harke identiˆied France and Spain spots in of gross pro its” around 8-10%. There was panic buying but Europe where the company would like to in- now stocks are high, according to Harke. crease its presence. ■

48 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_048 Harke.indd 48 5/21/20 10:54 AM IN ASSOCIATION WITH Nordmann adapts to the pandemic ICIS interviews Gerd Bergmann, chairman of the managing board of Germany’s Nordmann, Rassmann about trading conditions, 2020 outlook and long-term trends

Will Beacham Barcelona Gerd Bergmann by those that are less affected. However, just Chairman of the managing board, as the economy as a whole, we will most likely What kind of impact is the spread of coro- Nordmann, Rassmann not achieve the planning and growth targets navirus having on the distribution sector, “We have deined four that we set ourselves for 2020. from your perspective? The coronavirus is impacting the distribution strategic ields with the What can you tell us about Nordmann’s sector on various levels. For one thing, supply digitisation of the overall growth strategy? chains are affected by the pandemic – mean- supply chain playing At Nordmann, we initiated a growth path ing transport routes are being delayed and a particularly some time ago which has included several causing more lead-time to be required with important role” acquisitions. We have taken major steps in regard to order handling. this respect since 2013 and have also been Additionally, manufacturers in several quite successful in growing both new and countries are being required to close down any signiŽicant disruptions to our supply of existing partnerships. their plants as a result of enforced lockdowns, raw materials, we are continuing to monitor This has allowed our group to become which affects the availability of certain raw conditions strictly so that we may identify any visible and well-positioned on an interna- materials. potentially adverse developments at an early tional level. In addition, the company re- For us as a distributor, however, the de- stage and take action. cently underwent a complete re-brand and mand side naturally plays an important role as Monitoring business activities and Žinance now has a more uniform appearance reach- well. Due to the fact that a number of compa- issues has become even more important ing across all our branches. As we move for- nies are no longer producing in full or at all, than before. ward, we will continue to take a balanced we’ve been seeing a decrease in demand approach between organic and inorganic since March or April 2020 in many areas. How do you expect sales/proits/overall growth in order to sustainably extend our business to be impacted this year com- portfolio and geography. Where exactly is your company experienc- pared with pre-virus forecasts? ing reduced or increased demand? At the moment it is nearly impossible to fore- Which long-term trends are important to On the customer side, we are seeing a nota- cast the future. While we experienced a very be aware of in distribution? ble decline in demand in the automotive in- good Žirst quarter this year, we have been see- The current situation is certainly reinforcing dustry, and to a degree in the food sector and ing declines in orders since April/May. In some of the overall trends we’ve seen hotel and catering industries as well. some regions, these declines started appear- emerge. For example, digitisation is clearly In the personal care and health care sec- ing even earlier. gaining momentum. Companies are adopt- tors, on the other hand, demand for certain Our company has a very extensive portfolio ing a great variety of different approaches raw materials and specialties has risen sharp- that caters to almost all industrial sectors, and and strategies that range from the optimiza- ly. Ingredients for hygiene and disinfectant on a geographical level we are also positioned tion of one’s own processes to fully digital products are now in high demand as a result very broadly as a result of having locations set business models. of the current situation. up in Europe, Asia and North America. We at Nordmann have deŽined four strate- This is proving to be an advantage in times gic Žields (Business Partners, Operations, Or- What measures are you putting in place to of crisis, as the industries and regions that are ganization and Business Model), with the dig- adapt/cope with the situation? more severely affected are being supported itisation of the supply chain playing a First and foremost, of course, the health of particularly important role. our employees and their families remains Gerd Bergmann With 2019 sales of €443m (down from our top priority. In order to keep the chanc- Chairman of the managing board, Nordmann, €460m in 2018), Nordmann is placed at num- es of infection as low as possible, the major- Rassmann ber 30 in this year’s ICIS Top 100 Chemical ity of our team has been working from Distributors. home since mid-March. “However, just as the economy It is an international distributor with sub- Furthermore, we put a temporary stop to all as a whole, we will most likely sidiaries in Europe, Asia and North America, business trips. To ensure that our supply chain not achieve the planning and Nordmann distributes natural and chemical remains intact, we co-ordinate very closely growth targets that we set raw materials, additives and specialty with our suppliers and logistics partners. Even ourselves for 2020” chemicals. The company staffs 450 em- though we have not yet received reports of ployees worldwide. ■

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 49

ICB_220520_049 Nordmann.indd 49 5/21/20 10:56 AM Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch 2M taps expertise for demand boost The distributor has seen a huge spike in demand for disinfectants and sanitizing products such as hand sanitizers and surface cleaners

Joseph Chang New York

UK-based chemicals distributor 2M Holdings is leveraging its technical, supply chain and blending expertise to boost production of hand sanitizer amid the coronavirus crisis. “With access to the upstream supply chain, we took the initiative to use our in- house expertise to make our own alcohol hand sanitizer,” said Mottie Kessler, chairman and CEO of 2M Holdings. “To make this possible, we used Surfa- chem’s technical laboratory in HuddersŠield and MP Storage and Blending, our blending facility in Middlesbrough,” he added. Prior to the coronavirus outbreak, 2M Holdings had already developed, and stabili-

ty tested a simple, but effective alcohol hand Shutterstock sanitizer, the CEO noted. 2M has donated over 30,000 bottles of hand santizer to frontline service people “However, since then, producing the sheer quantity in such a short timeframe has been a food banks and others, he pointed out. All operations even as many employees work complete team effort. All of our teams from the company’s staff have been supplied from home. across the group have supported this initiative with hand sanitizer, and product has also “We invested heavily in IT and digitisation - from ingredient sourcing, to technical com- been sent to their homes and local commu- prior to the outbreak - hence it was possible to pliance and logistics,” said Kessler. nity centres. send our o–ice workers to work from home, 2M Holdings is producing 30,000 litres a Overall, the distributor has seen a huge which we did before the o–icial lockdown day of hand sanitizer and has donated over spike in demand for disinfectants and sanitiz- started,” said Kessler. 30,000 bottles to frontline service people, ing products such as hand sanitizers and sur- For on-site operations, employees work in including social workers, UK NHS (National face cleaners, as well as food and pharmaceu- shifts to minimise contact and risk, with social Health Service) staff, pharmacists, police, ticals ingredients. However, sectors such as distancing maintained in common areas such automotive, construction and paints are natu- as the kitchen. Mottie Kessler rally seeing reduced demand. In addition, sanitizing products are used Chairman and CEO, 2M Holdings Kessler is optimistic because of the robust everywhere, no visitors are allowed on site “Producing the sheer demand for sanitizing products but it is too and temperature checks take place, he said. early to tell what the overall impact will be for “No doubt digitisation will be enhanced and quantity in such a 2020, the CEO said. there will be an increase in using digital tech- short timeframe nology for improved e–iciency,” said Kessler. has been a Digitisation in focus “However, this can’t be replaced by the complete The coronavirus crisis is shining a spotlight physical need to store, blend and deliver team effort” on the importance of digitisation and products under strict HSE practices and tech- technology, as this has enabled e–icient nical expertise,” he added. ■

50 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_050 2M Holdings.indd 50 5/20/20 5:35 PM IN ASSOCIATION WITH NACD prepares for lockdown lifts President Eric Byer focuses efforts on getting members back to work after the lockdowns while engaging policymakers to help and protect chemical distributors

Joseph Chang New York This would ensure businesses such as However, there has been a slowdown in US chemical distributors are protected the replenishment of such supplies lately, The National Association of Chemical Dis- from lawsuits that may arise from employ- he noted. tributors (NACD) is guiding its members ees returning to work and falling ill from Coming out of the coronavirus crisis, the through the coronavirus crisis and preparing the coronavirus. diversiœication of product portfolios will get them to emerge from the US lockdowns. In the meantime, the NACD is engaging even more attention among chemical dis- “We’re now shifting gears to focus on the with legislators through videoconferenc- tributors, he added. ‘return to work’ side, where all our members ing and virtual site visits with members to Operationally, the industry has risen to have been operating the front-end of the see how essential business is being con- the challenge of maintaining supply chains, house – the truck drivers and forklift opera- ducted on a daily basis. This strengthens said the association head. tors – and the admin side. So we’ve put to- the connection between policymakers and “During this challenging time, most dis- gether some resources so they know how to the industry. tributors have not laid off staff as they are get them both harmonised again,” said Eric essential service providers. They’re doing a Byer, president of the NACD, in an interview Eric Byer good job of keeping both sides of the house with ICIS. President & CEO, NACD working – the workers driving trucks and “We’re also making sure we distil down “We’re making sure we operating forklifts, and those on the admin the information that’s coming out of the side such as in billing,” said Byer. states and the federal government as best distil down information we can. Most of our members operate in that’s coming out of Helping with essential products multiple states, so it’s a very challenging the states and the Byer explained that chemicals distributors process,” he added. federal government are also donating hand sanitizer, soaps, The NACD is providing critical updates as best we can.” cleaning chemicals and personal protective relevant to its members through the coro- equipment (PPE) to health professionals in navirus resource page on its website, daily their communities. emails, weekly newsletters and virtual “We’ve done Zoom and Microsoft Teams “On a daily basis we get information from town halls. calls with our members and members of the our member companies where folks are do- On the policy side, the NACD is ensuring Senate. So for 30 minutes we’ll have a nating hand sanitizer and PPE like N95 its members can apply and get access to members explain the impact of the Covid- masks or gowns to local hospitals, health- the US Payroll Protection Program (PPP) 19 crisis on their company, walk them care clinics, œirst responders and law en- which provides low-cost loans to small busi- through their facility quickly and then have forcement. And they’re doing it because nesses that can turn into grants as long as at Q&A,” said Byer. they care about their local communities and least 75% of the funds are spent on payroll. “We’ve done four to œive of these in the the folks that are serving all the citizens in Roughly half of NACD members have ap- last 10 days with Senate and House mem- that area,” he said. plied for PPP loans and received the funds, bers. They’ve gone over very well and we “We’re really proud of our members and he noted. have more coming down the pike,” he this shows us who they are in terms of the And with the Department of Homeland added. time and effort they’ve given to their com- Security’s (DHS) Chemical Facility Anti-Ter- munities,” added Byer. rorism Standards (CFATS) program now Health of the sector One of those members is Detroit, Michi- having been extended to 23 July, the NACD During these di§icult times, US chemical gan-based chemicals distributor PVS can focus on advocating that its members distributors are generally pulling through, Chemicals, which is producing hand sani- have liability protection with regard to the with product diversiœication a key strength, tizer for its own truck drivers and donating coronavirus. he noted. bottles of the product to healthcare workers “Now with the next recovery bill that “Companies have done a good job diver- and œirst responders in Detroit as well as Buf- Democrats introduced in the House, we sifying their portfolios so that high demand falo, New York. ■ must ensure there are liability protections for products such as IPA (isopropyl alcohol) for our members – something Senate leader and ethanol for hand sanitizer helps offset Click here to listen to the podcast Mitch McConnell said he wants for busi- weakness in oil services, automotive and interview with NACD president & nesses,” said Byer. other sectors,” said Byer. CEO Eric Byer

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We rank the global players by sales and also break out regional leaders in North America, Europe, Asia, Middle East & Africa and Latin America

Sarah Creswell London Joseph Chang New York Will Beacham Barcelona

BRENNTAG 1 2019 SALES: $14.37BN €12.8BN

Essen, Germany www.brenntag.com CEO: Christian Kohlpaintner Products: Full-line range of more than 10,000 products; industrial chemicals; adhesives; paints; oil and gas chemicals; food and nutri- tion ingredients; water treatment chemicals; personal care ingredients; pharmaceutical in- gredients; cleaning chemicals; coatings and construction chemicals; animal nutrition products; pulp and paper chemicals Services: Tailor-made distribution solutions for industrial and specialty chemicals; one- stop-shop solutions; speci‡ic application technology; technical support; just-in-time delivery; product mixing; formulation; re- packaging; inventory management; drum return handling Assets: More than 640 locations in 77 coun- tries; workforce of more than 17,500 employees ICIS Top 100 UNIV AR SOLUTIONS 2 2019 SALES: $9.29BN

Downers Grove, Illinois, US www.univarsolutions.com Chemical President & CEO: David C. Jukes Products: Amines; aviation fuel additives; chelants; additives; hydrocarbons; essential chemicals & ingredients; military speci‡ica- tion chemical products; monomers; silicone Distributors alternatives; oils; oleochemicals; pigments; plasticizers; polymers/resins; silica; silicones; solvent blends; solvents; surfactants TRICON ENERGY inventory management; risk management Services: Corporate accounts; ChemPoint; 3 2019 SALES: $6.69BN for commodity price and foreign exchange; custom blending; custom packaging and global presence with sales into over 100 private label services; lab and formulation Houston, Texas, US countries services; MiniBulk; supply chain services; te- www.triconenergy.com Assets: 28+ o™ices; more than 450 employees lemetry services; transportation services; President & CEO: Ignacio Torras warehousing services; solutions centre; Products: Chlor-alkalis; aromatics; glycols; HELM onsite services; ChemCare services ‡ibre intermediates; solvents; ole‡ins; poly- 4 2019 SALES: $5.61BN €5BN Assets: More than 3,500 tractors, tankers, mers; fertilizers trailers; more than 650 distribution facilities; Services: Marketing; pre-export ‡inancing; Hamburg, Germany over 10,300 employees in 31 countries deliv- shipping; logistics; packaging; blending; www.helmag.com ering to more than 130 countries storage; just-in-time delivery; repackaging; CEO: Stephan Schnabel

52 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 52 31/05/2020 12:19 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS

EVA, Q-resin and ABS HR); high performance plastics (modiied nylon, modiied PBT, modi- ied polyformaldehyde, polysulfone and PES); plastics additives (antioxygen, lame retardants, lubricants, matting agents, com- patilisers, TiO2); epoxy resin (BPA and crude glycerine); UPR (phthalic anhydride, 2-me- thyl-1, 3-propanediol, neopentyl glycol); coatings (organic silicon, emulsion, coating agents, surfactant); hygiene products (luff pulp, SAP); synthetic rubber (IIR, SSBR, EPDM, SBCs, TPE); automotive plastics (PE, modiied PP, ABS, ASA, modiied nylon, mod- iied PC); PU, rubber chemicals; specialty chemicals; agricultural products; palm oil chemical products Services: One-stop procurement; supply chain management; technical support; com- missioned processing; brand maintenance; information consultation Assets: Three warehouses; two o‹ice buildings Trading sales: 46%

AZELIS 8 2019 SALES: $2.41BN €2.15BN

Luxembourg www.azelis.com CEO: Hans Joachim Mueller Products: Thousands of specialty chemicals and food ingredients for the following mar- kets: animal nutrition, food and health, per-

Shutterstock sonal care, home care and industrial clean- ing, pharmaceuticals, specialty agri/horti, Products: Methanol; base petrochemicals; 80 o‹ices and 89 warehouses throughout all CASE, electronics, essential chemicals, ine intermediates; bio-based chemicals; acids operating companies in Europe, Turkey, Isra- chemicals, lubricants and metal working lu- and lyes; iberglass; crop protection chemi- el, Africa (EMEA); Australia, New Zealand, ids, rubber and plastic additives, textile, cals (herbicides, insecticides, fungicides, India, China, Malaysia, Indonesia, Philippines, leather and paper growth regulators); fertilizers (nitrogen, Thailand, Singapore, Vietnam, Japan, South Services: Laboratory analysis; formulation phosphates, potassium, liquids, special- Korea (Asia-Paciic); US, Canada, Brazil, Puer- development and blending; expert technical ties); active pharmaceutical ingredients, to Rico, Chili, Argentina, Uruguay, Colombia, and regulatory support; re-packaging; lexi- pharmaceuticals Mexico (Americas) ble pack sizes; local stockholding; market Services: International marketing; logistics; research and trend analysis; GMP and clean- project development; scientiic service; pro- KOL MAR GROUP room pharmaceuticals facilities; integrated duction 6 2019 SALES: $3.08BN supply chain; sampling Assets: 30 subsidiaries Assets: 60+ application laboratories; o‹ices Zug, Switzerland and access to warehouses across EMEA, IMCD www.kolmargroup.com Americas and Asia Paciic; technically 5 2019 SALES: $3.15BN €2.81BN CEO & chairwoman: Ruth Sandelowsky trained sales force Products: Aromatics; oleins; ibre intermedi- Rotterdam, Netherlands ates; LNG and natural gas; alcohols; crude oil BIESTERFELD www.imcdgroup.com and oil products; renewable fuels; solvents 9 2019 SALES: $1.44BN €1.29BN CEO: Piet van der Slikke Services: Blending; storage Products: Specialty chemicals and ingredi- Assets: Two biofuels plants Hamburg, Germany ents for pharmaceuticals; coatings, adhe- Trading sales: 76.5% www.biesterfeld.com sives, sealants, elastomers (CASE); personal CEO: Thomas Arnold care; advanced materials; food and nutrition; S INOCHEM PLASTICS Products: High-performance polymers; en- animal nutrition; nutraceuticals; lubricants; 7 2019 SALES: $2.72BN gineering polymers; thermoplastic elasto- synthesis; HI&I; oil and gas mers; styrenic polymers; acrylic polymers, Services: Technical sales; marketing; local Beijing, China standard polymers and additives; raw mate- and central stock holding; drumming; re- www.sinochemplastics.com rials for cosmetics, pharmaceuticals, organic packaging; blending; sampling General Manager: Zhang Xiaolei synthesis, household cleaning, culinary, Assets: Nearly 50 market-focused applica- Products: Engineering plastics (ABS, AS, PS, spice, dairy, beverage, functional food; coat- tion laboratories; nearly 3,000 employees in PMMA, MS, PC, PA, POM, ASA, POE, PVC, ings, adhesives, sealants and elastomers

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(CASE); performance products; synthetic methanol; caustic soda; plasticizers; poly- Services: Warehousing; blending; toll manu- rubbers; silicone and luorosilicone rubber mers; pentaerythritol; phthalic anhydride facture; specialised laboratories; logistics compounds; carbon blacks; industrial and Services: Storage of bulk and drum chemi- Assets: More than 50 locations in Europe; agricultural chemicals; plant protection cals; blending; trading commodities; pack- 200 trucks products and fertilizers; pharmaceutical raw aging; providing tanks for leasing; logistics materials Assets: Terminal in Jebel Ali, Dubai; 41 bulk BA RENTZ INTERNATIONAL Services: Individual solutions; technical ex- chemical storage tanks including drum stor- 12 2019 SALES: $1.37BN €1.22BN pertise and consulting; active application age for 25,000 drums and 4 drumming lines; development and product speciication; di- modern tank terminal in Adabiya, Egypt for Hoofddorp, Netherlands rect and warehouse distribution; blending; storing bulk chemicals; 26 trailer trucks; 14 www.barentz.com storing; formulation and technical assis- road tankers; storage and logistics terminal CEO: Hidde van der Wal tance; laboratory support of specialty chemi- in Dammam, Saudi Arabia in partnership Products: Starches; proteins; enzymes; hy- cals; less-than-truckload (LTL) quantities; with Hoyer; sales and Distribution o•ices in drocolloids; vitamins; antioxidants; preserva- customised logistical solutions; marketing; India, Egypt, Singapore, Taiwan, China, UK tives; emulsiiers; excipients; active ingredi- consultancy and advisory services for Eu- and Netherlands ents; lanolin rope’s REACH regulation; legal compliance; Trading sales: 41% Services: Blending; spray-drying; mixing; silicone rubber compounding encapsulating; testing and formulating Assets: Subsidiaries in more than 30 coun- ST OCKMEIER HOLDING Assets: Spray dryers; liquid and powder mixers tries; application laboratories; blending and 11 2019 SALES: $1.40BN €1.25BN Trading sales: 8% storage facilities for solid and liquid chemicals Trading sales: 14% Bielefeld, Germany OMYA www.stockmeier.de 13 2019 SALES: $1.35BN SWFR1.31BN PE TROCHEM MIDDLE EAST CEO: Peter Stockmeier 10 2019 SALES: $1.43BN Products: Industrial chemicals (acids, caus- Oftringen, Switzerland tic, solvents, solids); specialty chemicals for www.omya.com Dubai, UAE industrial and home care (cosmetics, coat- Vice president: Peter Bigler www.petrocheme.com ings, construction); cleaning products; per- Products: Minerals and specialty chemi- CEO: Yogesh Mehta acetic acid; polyurethane chemicals; lavours cals for polymers (ilm and sheet, wire and Products: Aromatics; alcohols; aldehydes; and spices; printing inks; textile auxiliaries; cable, pipe and conduit, proile, moulding, ketones; phenol; glycols; monomers; esters; AdBlue; water treatment chemicals compounding, thermosets, rubbers and Shutterstock

54 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 54 31/05/2020 12:19         .

Aae Dijksma Operations Manager, Brenntag Netherlands

I’m ConnectingChemistry

It has always been my dream to connect elements and to connect the world. Today, as Brenntag’s Operations Manager for the Netherlands, I’m responsible for the ecient and safe work-ow at four sites. My team and their safety are of highest interest to me. In Rotterdam harbor, Europe’s gateway to the world, Brenntag runs an important solvent hub from where we deliver large volumes to the big customers but we also connect the smaller customers with the world. It’s our job to ensure the right product gets delivered safely, to the right customer, in time – whatever the volume, wherever they’re located. And this is what I strive for every day.

Want to learn more about a job connecting the world?

Visit me at www.brenntag.com/aaedijksma

0155-170703_Brenntag_Anzeige_Aafke-Dijksma_203x273mm.inddUntitled-2Untitled-2 11 1 20/05/202004/05/202006.04.20 13:15 13:37 11:24 Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch

Asia Paciic chemical distribution leaders (2019 sales) Company Sales ($m) Company Sales ($m) Company Sales ($m) 1 Tricon Energy 2,632.6 30 McKinn International 32.0 57 Prakash Chemicals 5.8 2 Sinochem Plastics 2,488.0 31 ECEM European Chemical 28.6 International 3 Brenntag 1,722.4 Marketing 58 Joss Elastomers & Chemicals 5.6 4 DKSH Holding 723.3 32 Norkem Holdings 28.0 59 Noahs Ark Chemicals 5.2 5 Behn Meyer Group 686.0 33 Rakha Al Khaleej 23.3 60 Metafrax Trading 4.3 International International 6 Kolmar Group 685.1 34 Rishichem Distributors 20.9 61 Arkem Kimya 4.0 7 IMCD 503.0 35 Wego Chemical Group 16.6 62 Indukern 3.9 8 Redox 484.0 36 Saiper Chemicals 15.5 63 Adeka Polymer Additives 3.8 9 ICC Chemical 365.9 37 CellMark 15.4 Europe 10 Jebsen & Jessen Group 302.0 38 Equilex 15.3 64 Barcelonesa de Drogas Y 3.4 11 TOP Solvent 289.2 Productos Quimicos 39 Bufa Chemikalien 15.0 12 Pon Pure Chemicals Group 271.8 65 Quimdis 3.4 40 Neo Chemical 14.3 13 Azelis 267.2 66 Shamrock Shipping & 2.7 41 Connect Chemicals 13.5 Trading 14 Petrochem Middle East 266.0 42 Aug. Hedinger 11.9 67 Jobachem 2.4 15 Omya 258.3 43 Arpadis Benelux 11.2 68 Atlantic Chemicals Trading 2.2 16 KPL International 254.8 44 Penpet Petrochemical 11.2 69 Emsa Tecnologia Quimica 1.7 17 WWRC Holding 200.0 Trading 70 Nortex 1.5 18 Manuchar 186.0 45 An Loc Phat International 10.0 71 Solventis 1.5 19 Union Petrochemical 94.0 46 Bodo Moeller Chemie 9.5 72 The Chemical Company 1.2 20 TER Group 76.3 47 Saœic-Alcan 9.0 73 A. + E. Fischer-Chemie 1.1 21 Echemi Group 75.5 48 Skystep Trading 9.0 74 Lavollee 1.1 22 Barentz International 75.2 49 PHT International 8.2 75 George S. Coyne Chemical 1.1 23 Transmare Chemie 73.3 50 Novasol Chemicals Group 8.0 76 Solvadis Group 1.1 24 Maha Chemicals 71.0 51 Rahn Group 8.0 77 Astro Chemicals 1.0 25 Ravago Chemicals 67.4 52 2M Holdings 7.8 78 Haeffner 1.0 26 Caldic 56.1 53 Wistema 7.5 79 Hawkins 1.0 27 Nordmann, Rassmann 40.4 54 Taj Al Mulook General 7.4 80 Van Horn, Metz 1.0 28 Biesterfeld 38.2 Trading 29 Lehmann & Voss & Co./ 33.7 55 Eigenmann & Veronelli 6.4 NOTE: Sales are by region and may differ from the total sales œigure in the main Top 100 listing. Table excludes Lehvoss Group 56 Cornelius Group 6.1 companies that do not break out sales by geography

elastomers, œlooring), construction (deco- www.snetor.com chemicals; mining chemicals; oilœield chem- rative paints, industrial coatings, printing President: Emmanuel Aubourg icals; food and feed additives; fertilizers inks, adhesives and sealants, plasters and Products: PE; PP; PVC; PET; PS; ABS; engi- Services: Local know-how and technical renders, construction), water and energy, neering polymers; polyols and TDI; industrial support in emerging markets; tailor-made agriculture and forestry, alu-œinishing, chemicals warehousing; logistics/supply chain servic- printing and writing, packaging; ingredi- Services: Trading; packaging; technical es; œinancial solutions ents for consumer goods (food and nutra- support Assets: 75+ a©iliates worldwide accross 35+ ceuticals, personal care, home care and Assets: 30 warehouses countries; 160+ locations; 405,000+ square animal nutrition) Trading sales: 75% metres of warehouse space Services: Global marketing and sourcing; Trading sales: 36% global supply chain management (logistics, MANUCHAR customer service); regulatory affairs man- 15 2019 SALES: $1.26BN ICC CHEMICAL agement and services; R&D; technical ser- 16 2019 SALES: $1.05BN vice; analytics; microscopy; quality control Antwerp, Belgium Assets: R&D center for surface science, min- www.manuchar.com New York, New York, US eral pigment, chemical engineering, micro- CEO: Philippe Huybrechs www.iccchem.com biology and consumer goods; technical ap- Products: Sodium sulphate; soda ash; President: Naveen Chandra plication services hubs in Europe, Americas zeolite; caustic soda; sodium bicarbonate; Products: PVC resin; acrylonitrile; alpha and Asia Paciœic for all product categories; calcium chloride; sodium lauryl ether oleœins; styrene; mixed xylenes; acetone; sales a©iliates in more than 50 countries; sulphate (SLES); linear alkyl benzene sul- isopropyl alcohol; MMA; n-para©in; acetic global network of 70+ warehouses phonic acid (LABSA); glycerine; surfactants acid; pygas; chloroform; 2-ethylhexanol; and oleochemicals; silicones; emulsiœiers; solvent C9 SNETOR resins and monomers; homecare and deter- Services: Packaging 14 2019 SALES: $1.29BN gent chemicals; textile chemicals; person- Assets: 30 o©ices and representatives al care and cosmetics ingredients; paints worldwide Courbevoie Cedex, France and coatings chemicals; construction Trading sales: 82%

56 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 56 31/05/2020 12:19 Going the Extra mile

Our vision is to redefine distribution and be the most valued chemical and ingredient distributor on the planet. We’re here to help solve your biggest challenges with our global supply network and solution centers. Contact us to start the conversation.

UnivarSolutions.com

Untitled-2000012085 1 Univar Corporate Advert - FECC ICIS 197x267mm - Q2 2020-V2.indd 1 20/05/202012/05/2020 13:1616:42 Sign up to receive free ICIS SPECIAL REPORT updates by email, tailored to the markets you are interested in. TOP 100 CHEMICAL DISTRIBUTORS Visit icis.com/keep-in-touch

DKSH HOLDING 17 ŽPERFORMANCE MATERIALS‘ 2019 SALES: $1.03BN SWFR1.0BN Zurich, Switzerland www.dksh.com/pm CEO: Stefan P Butz Products: Food and beverage ingredients; personal care and cosmetics ingredients; phar- maceutical ingredients; specialty chemicals Services: Marketing and sales; logistics; in- novation and formulation services; regulato- ry services; sourcing services; blending and repackaging; after-sales services Assets: 46 innovation centres; 100 business locations; 35 distribution centres

CALDIC 18 2019 SALES: $988.0M €880M

Rotterdam, Netherlands www.caldic.com CEO: Olav C van Caldenborgh Products: Specialty food ingredients such as hydrocolloids, creative sensory products, vi- tamins, minerals and nutraceuticals, preserva- tives, antioxidants and acids, processing aids; health and personal care ingredients such as

specialty solvents, excipients, APIs, acids and Shutterstock alkalies, pigments, surfactants; specialty chemicals for industrial markets such as spe- of packaged products plus 20 tanks for liq- and thermoset polymers; adhesives; hot- cialty solvents; specialty polymers; pigments uids each one; nine distribution centres; a melts; additives; polybutenes; SIS/SBS block and dyes; hydrocarbon and water-based res- fully equipped quality control laboratory; new copolymers; IIR rubber; caseine; amorphous ins; emulsi”iers; silicone water repellents and application and development laboratory polyalpha-ole”ins; hydrocarbon resins; pig- anti-foams; adsorbents and ion exchange res- Trading sales: 5% ments; dyes; polyvinyl alcohol; food ingredi- ins; preservatives; plant-based solutions; elas- ents; vaseline tomers and plasticizers RAVAGO CHEMICALS Services: Blending; packaging; storage; Services: Sourcing and procurement; produc- 20 2019 SALES: $920.6M €820M production tion; supply chain; innovation and formulation; Assets: Numerous o•ice buildings; ware- regulatory; blending; mixing; repackaging Arendonk, Belgium houses; trucks Assets: 23 entities with 45 sites comprising www.ravagochemicals.com Trading sales: 25% o•ices, warehouses, production facilities, General Manager EMEA: Filip Van Camfort, laboratories and innovation centres General Manager US: Kevin Wettstein OQEMA Products: Industrial chemicals (coatings, PU 22 2019 SALES: $881.3M €785M QUIMIDROGA & polymers, construction, asphalt), specialty 19 2019 SALES: $982.4M €875M chemicals (care, life science, performance, Korschenbroich, Germany water) and base chemicals (solvents, inor- www.oqema.com Barcelona, Spain ganics, intermediates, plasticizers) CEO: Peter Overlack; CSO: Patrick Barthels; www.quimidroga.com Services: Distribution, technical expertise, CFO: Hartmut Kunz CEO: Vicente Munoz warehousing, logistics, blending, repackag- Products: Chemicals for technical applications Products: Solvents; monomers; glycols and ing, lab facilities – adhesives & sealants, automotive & machin- intermediates; ”ine chemicals and specialties Assets: Network of warehouses (own and ery, chemical industry & synthesis, construction, for food and feed, agrochemicals and fertiliz- third party), drumming & blending & lab facili- energy & electronics, personal care & industrial ers, pharmaceuticals, cosmetics, ”lavours ties, feed premix plant, pressure vessel manu- cleaning, lubricants, metal & surface treatment, and fragances, detergents, coatings, adhe- facturing & water treatment unit factory paint & coatings, plastic & rubber, surface tech- sives, paper, water treatment, plastizicers; Trading sales: 10% nology, print & packaging & paper, textile & resins; plastics; elastomers leather; chemicals for life sciences – cosmetic & Services: Storage of liquid and packaged TE R GROUP personal care, feed & food, spices, ”lavour & fra- products; blending; standard and tailor 21 2019 SALES: $916.1M €816M grance, pharma; chemicals for environmental – made packaging; dissolutions AdBlue, agriculture, water treatment Assets: Logistics complex at the Port of Bar- Hamburg, Germany Services: Key account management; tail celona with capacity of 30,000 tonnes of www.tergroup.com spend solutions; recycling of solvents; techni- packaged products plus 155 tanks for CEO and managing shareholder: cal support, blending & dilution; logistics; spe- 12,000cbm of liquids; two sites in Burgos and Christian A Westphal cialised laboratories; drumming & packaging; Madrid, Spain with capacity of 1,500 tonnes Products: Waxes; gum rosin; thermoplastic transloading vessel to rail; regulatory affairs

58 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 58 02/06/2020 18:03 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS

management; clean room services; price risk EMERAUDE chain management; omni-channel support; mitigation (ix-, contract- and spot pricing) 24 2019 SALES: $780M business development Assets: Oices and warehouses in 21 EU Assets: Over 1,200 employees; oice and countries; terminal in Ludwigshafen, Germa- Paris, France warehouses in 14 countries; 38 warehouse lo- ny; recycling plant; 60 owned trucks www.emeraude-international.com cations; global production facilities in Malay- CEO: Umar Raique sia, Thailand, Indonesia, Italy, Netherlands and JEBSEN & JESSEN GROUP Products: Polyethylene (PE); polypropylene US; laboratory facilities in Malaysia, Indonesia, 23 2019 SALES: $808.3M €720M (PP); polyvinyl chloride (PVC); polyethylene Thailand, Vietnam, Italy and Netherlands terephthalate (PET); polystyrene (PS); polyu- Bangkok, Thailand and Hamburg, Germany rethane (PU); recycled resins; masterbatches SAFICŽALCAN www.ingredients.jjsea.com and additives; adhesives and coatings 26 2019 SALES: $726M www.jebsen-jessen.de Services: Logistics; packaging; storage CEOs: Heinrich Jessen, Fritz von der Schu- La Defense, France lenburg BEHN MEYER GROUP www.sa“ic-alcan.com Products: Coatings and resins; plastics and 25 2019 SALES: $763.4M €680M CEO: Philippe Combette rubber; food and nutrition ingredients; feed CEO Myrtil (holding company): Martial Lecat additives; oil and gas chemicals; oil deriva- Hamburg, Germany Products: Cosmetics, pharma, nutraceuti- tives; bioethanol; pharmaceutical and per- www.behnmeyer.com cals, rubber, plastics, coatings, industrial sonal care ingredients; home care special- Products: Fertilizers; crop protection chemi- specialties ties; adhesives; water treatment specialties; cals; ingredients for food, personal, home care Services: Blending, packaging mining components; agrochemicals; modi- and pharmaceuticals; feed additives; special- Assets: Nine state-of-the art laboratories (for ied starches; collagen and sweeteners ties for rubber and plastics; solutions for water cosmetics, coatings, rubber, pharmacy and Services: Sales and marketing; R&D; import/ treatment, petrochemicals, coatings, leather water treatment in France, UK, Netherlands, export; regulatory affairs; warehousing; and textiles, and process industries Italy, Turkey and China) sourcing; factory audit; credit report; local Services: Technical sales and marketing; currency inancing customer service; regulatory and risk man- HYDRI TE CHEMICAL Assets: 24 oices worldwide; 15 warehous- agement; innovation and formulation; labo- 27 2019 SALES: $700M es; six laboratories; three regional innovation ratory testing; blending, tailoring and pack- centers aging; warehousing and logistics; supply Brook“ield, Wisconsin, US

CHEMICALS MARKETING. WORLDWIDE.

As a family-owned company, With some 1,500 employees HELM stands for fairness, together with more than reliability, supreme quality 100 subsidiaries, sales offices standards as well as the and participations in over protection of people and the 30 countries, we are one of environment. Our know-how the world’s leading marketing and local presence make us companies for: the ideal partner for:

• International Marketing • Methanol • Distribution • Base Petrochemicals • Logistics • Intermediates • Production • Biobased Chemicals • Project Development • Acids and Lyes • Scientific and Technical • Fiberglass Services CHEMICALS CROP PROTECTION PHARMA FERTILIZER

HELM AG • Nordkanalstrasse 28 • 20097 Hamburg • Germany Phone: + 49 40 23 75 0 • Fax: + 49 40 23 75 18 45 • [email protected] • www.helmag.com

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www.hawkinsinc.com President and CEO: Patrick Hawkins Products: Caustic soda; bleach; minerals; lactates; sulphuric acid; hydrochloric acid; sodium citrate; vitamins; ferric/ferrous chlo- ride; urea; chlorine Services: Manufacturing; custom blending; packaging; private label Assets: Seven industrial manufacturing fa- cilities; 29 water treatment distribution ware- houses; 125+ trucks; nutraceutical manufac- turing plant

N ORDMANN, RASSMANN 31 2019 SALES: $497.4M €443M

Kajen 2, 20459 Hamburg, Germany www.nordmann.global Managing director, chairman of the man- aging board: Gerd Bergmann Managing directors: Carsten Güntner, Felix Kruse Products: Adhesives and sealants; composite materials; construction and coatings chemi- cals; contact lens, dental and medical materi-

Shutterstock als; lame retardants; food additives; industrial chemicals and intermediates; lubricant addi- www.hydrite.com Assets: 10 tank farms; two storage facilities/ tives; monomers; oleochemicals; personal CEO: Paul Honkamp warehouses; two production facilities care additives; pharmaceutical and nutraceuti- Products: Extensive line of products includ- Trading sales: Less than 5% cal ingredients; polyurethane chemicals; syn- ing peracetic acid (PAA); chlor-alkali; indus- thetic rubber and rubber chemicals; thermo- trial chemicals; foam control chemicals; food G TM HOLDINGS plastics and polymer additives processing and sanitation chemicals; food 29 2019 SALES: $628M Services: Laboratories, studies and R+D; ingredients; liquid sul ites; fertilizers and liq- chemical synthesis and compounding; mar- uid micronutrients; pulp and paper chemi- Sao Paulo, Brazil keting and market intelligence; legislative cals; organic and inorganic chemicals; sty- www.gtmchemicals.com and regulatory support; quality management rene/acrylic emulsion polymers; metal CEO: Rodrigo Gutierrez and safety; global supply chain manage- inishing chemicals; solvents; and wastewa- Products: Specialty, performance and in- ment; repacking and re illing; sample service ter treatment chemicals dustrial chemicals for oil ield, coatings, inks, Assets: Warehouses located all over Europe, Services: Contract manufacturing; formula- adhesives, sealants, elastomers, cosmetics, Asia and North America tion; solvent reclamation; hazardous waste personal care, fragrances and lavors, phar- Trading sales: 5% removal; packaging and transloading; tech- maceuticals, agriculture, water treatment, nical training; customer product research food ingredients, animal feed, pulp and R EDOX Assets: 15 locations; bulk storage of 15m paper, mining, lubricants, household & in- 32 2019 SALES: $493.4M gal; private leet of trucks and professional dustrial cleaning drivers Services: Mixing and blending; formulation; Sydney, Australia packaging; storage (bulk and packed ware- www.redox.com SO LVADIS GROUP housing); preparation of samples; chemical Managing director/chairman: 28 2019 SALES: $650.7M analysis; production of lubricants (automo- Robert Coneliano tive and industrial); labelling; stock control; Products: More than 1,000 products serving Frankfurt, Germany logistics; just-in-time delivery; drum return over 140 industries; commodity and special- www.solvadis.com handling; inventory management; technical ty chemicals; food ingredients; agricultural CEO: Andreas Weimann support; waste management chemicals; household and personal care Products: Sulphur; sulpuric acid; methanol; Assets: 45 facilities throughout Latin chemicals; mining chemicals; surface coat- petrochemicals; solvents; industrial chemi- America, including six owned maritime ter- ings; plastics additives; grease and lubri- cals; industrial minerals; pharmaceutical raw minals; tank farms and blending units in all cants; water treatment chemicals; building materials; synthetic lubricants; laboratory countries; 19 laboratories (product devel- and construction chemicals; pharmaceutical chemicals; coatings; fertilizers; packaging opment, application technology and quali- ingredients materials; personal protective equipment ty control) Services: Custom blending; dilutions; re- Services: Marketing; storage; transport; packaging; bulk storage of powders, sol- logistics; packaging; supply chain man- HAWKINS vents, acids, alkalis; palletised storage agement; processing; transloading; re- 30 2019 SALES: $535.5M Assets: 12 regional sales oœices; two manu- manufacturing; sulphur forming (prilling); facturing sites; seven owned and operated regeneration Roseville, Minnesota, US warehouses; more than 50 stock locations

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QUADRA CHEMICALS Island and 37,000sq ft facility in Newark, New lubricants and industrial auxiliaries, organic 33 2019 SALES: $491.7M Jersey; six additional market facing customer synthesis, paper, personal care, pharmaceuti- service centres located throughout North cals, plastic additives, polyurethanes, rubber, Vaudreuil-Dorion, Quebec, Canada America; additional 47 total warehouses in surface coatings, textiles www.quadrachemicals.com North America; seven owned trucks; CARE Services: Production including toll and third www.quadraingredients.com laboratory (Rhode Island); HI&I laboratory party manufacturing; re-packaging; ware- CEO: Tony Inilise (Florida); CASE laboratory (Florida); oil and housing Products: Performance adhesives; lexible gas laboratory (Oakville, Ontario Canada); Assets: Three production plants; three ware- packaging; household, industrial and institu- food test kitchen (Oakville, Ontario, Canada) houses tional cleaning chemicals; water treatment Trading sales: 20% chemicals; mining and smelting chemicals; LEHMANN & VOSS & COˆ soluble fertilizer; pulp and paper chemicals; 35 LEHVOSS GROUP INDUKERN metal treatment and galvanizing chemicals; 2019 SALES: $449.1M €400M 37 2019 SALES: $411.6M €366.6M construction chemicals; CASE; pool and spa Hamburg, Germany chemicals; oilield chemicals; nutritional and www.lehvoss.com Barcelona, Spain functional ingredients; food and beverage Managing partners: Knut Breede, Soenke www.indukern.com ingredients; sports and animal nutrition in- Thomsen, Thomas Oehmichen www.grupoindukern.com gredients; pharmaceutical ingredients; cos- Products: High-performance composites, CEO: Daniel Diaz-Varela metics and personal care ingredients magnesia, blowing agents, lame retardants, Products: Food ingredients; pharmaceutical Services: Storage; packaging; blending active cosmetic ingredients like hyaluronic ingredients; pharmaceutical APIs; lavour Assets: Six locations with warehouses and acids, active nutraceutical ingredients like and fragrance ingredients; veterinary and tank farms MSM, diathomatious earths, rare earths, zir- animal nutrition ingredients conium compounds, rheological additives, Services: Blending; premixes; packaging; MAROON GROUP antioxidants, 3D printing materials, additive storage 34 2019 SALES: $463M masterbatches Assets: Nine warehouses in Spain; subsidiaries Services: Product development, production, Trading sales: 8% Avon, Ohio, US re-packaging, storage, recycling, laboratory www.maroongroupllc.com Assets: Five production plants, ive laboratories WEGO CHEMICAL GROUP CEO: Terry Hill; President Trading sales: 30% 38 2019 SALES: $372.7M COO: Mike McKenna Products: Specialty chemicals and ingredi- E IGENMANN & VERONELLI Great Neck, New York, US ents for the CARE, HI&I, food and beverage, 36 2019 SALES: $428.3M €381.5M www.wegochem.com CASE, performance materials and specialty Principal and President: Bert Eshaghpour intermediates markets Rho, Milan, Italy Products: Agricultural chemicals; animal nu- Services: Technical and formulary support www.eigver.com trition and feed ingredients; antifreeze and via laboratories; custom blending; repackag- Chairman: Ludovico Balbo di Vinadio coolant; CASE; corrosion inhibitors; lithium ing; micronisation; drumming; public ware- Products: Specialty chemicals for adhesives batteries and electrolytes; lubricants and housing; FDA and SQF storage and sealants, animal nutrition and health, greases; pharmaceutical and ine chemicals; Assets: 130,000sq ft headquarters in Avon, building, ecology and water treatment, food HI&I; lame retardants; food and beverage in- Ohio; 170,000sq ft facility in Lincoln, Rhode ingredients, home and industrial care, leather, gredients; metal-working, inishing and lux

62 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 62 31/05/2020 12:20 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS Shutterstock

chemicals; oil ield chemicals; plastics, resins phatic and aromatic hydrocarbons; amines; Mexico City, Mexico and rubber chemicals; pulp and paper chemi- carbonates; chelating agents; ester and www.pochteca.com.mx cals; water treatment and pool chemicals ether esters; glycols; ketones; pigments; www.pochteca-english.com Services: Supply chain solutions; logistics; plasticizers; resins; silicones; surfactants; ter- Executive director: Eugenio Manzano warehousing; outsourcing pene and citrus solvents Products: Inorganic chemicals; solvents and Assets: 100+ worldwide professionals; 14 in- Services: Blending and packaging; waste blends; food ingredients; chemical special- ternational oices; global distribution net- services; application laboratory services; ties; lubricants work of 50+ warehouses warehousing; order ful illment; USP and food Services: Blending; packaging, storage and Trading sales: 20% grade packaging; private leet delivery logistics solutions; product application; Assets: Three production facilities (US – North product development; quality control; indus- ANASTACIO Chicago, Illinois; Columbia, Illinois; Pleasant Prai- trial waste management 39 2019 SALES: $364.0M rie, Wisconsin); Six warehouses (US – Elkhart, Assets: More than 333,000sqm of logistics Indiana; Minneapolis, Minnesota; Cincinnati, capacity; capacity to store 22m litres of liq- Sao Paulo, Brazil Ohio. Canada – Calgary, Alberta; Toronto, On- uids and more than 113,000sqm of storage www.anastacio.com tario; Montreal, Quebec); 5,000sq ft CASE ap- of dry goods; 33 distribution centres in Mexi- CEO: Jan Felix Krueder plications lab; 40 trucks and 90 trailers co, three in Central America and ive in Brazil; Products: Cosmetics and personal care in- leet of more than 200 units; solvent recy- gredients; pharmaceutical ingredients; la- VIKUDH A OVERSEAS cling plant; 12 product application laborato- vours; animal health ingredients; agricultural 41 2019 SALES: $351M ries; 12 quality laboratories chemicals; rubber; household and auto care chemicals; lubricants; plastics; polyure- Hong Kong, China EC EM EUROPEAN CHEMICAL thane; paints and coatings; resins and adhe- www.vikudha.com 43 MARKETING sives; food and feed ingredients; sports nu- CEOs: Vikash Adukia, Deap Adukia 2019 SALES: $321.7M trition ingredients Products: Chemicals and polymers for agro Amsterdam, Netherlands Services: Storage; blending; packaging; and feed, cosmetics and personal care; de- www.ecem.com bulk distribution; trading; cargo consolida- tergents and home care; food and beverag- CEO: Barend Barendse tion; dedicated procurement es, mining, oil and gas, paints and coatings, Products: Acrylates and methacrylates; hy- Assets: Eight warehouses – three in Sao plastics, polyurethane, rubber and paper, droxy monomers; 150 special monomers; Paulo, one in Santa Catarina, one in Rio textiles and leather, water treatment anhydrides; phosphonates; water treatment; Grande do Sul, one in Pernambuco, one in Services: Product sourcing, market devel- polyurethanes; food and feed ingredients; Goias and one in Buenos Aires, Argentina opment, creative inancial solutions, market pharmaceutical ingredients; complementary Trading sales: 14% intelligence, logistics expertise, shipping ad- products for coatings resins and polymers; visory and documentation adhesives and sealants; water treatment EMCO CHEMICAL Assets: 19 oices across the globe; 165+ em- chemicals; TDI and MDI for polyurethanes 40 DISTRIBUTORS ployees globally; multiple warehouses Services: One-stop shopping and global sup- 2019 SALES: $358M Trading sales: 70% ply chain service to customer sites in Europe, Pleasant Prairie, Wisconsin, US US and Brazil; consignment stocks; agents/ www.emcochem.com P OCHTECA MATERIAS PRIMAS representatives for producers; drumming op- President: Edward Polen 42 2019 SALES: $329.3M erations; sales in packed materials; fully REACH Products: Acids and alkalis; additives; ali- registered in EU; blending; returnable IBCs

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Assets: Bulk storage and warehouses in sev- North America chemical distribution leaders (2019 sales) eral countries; drumming installations; 8 owned isotanks for dedicated bulk transport; Company Sales ($m) Company Sales ($m) over 100 returnable (custom tailored) stain- 1 Univar Solutions 7,046.3 29 Tilley Chemical 113.2 less steel IBCs; over 70 professional staff in 2 Brenntag 5,374.5 30 Essential Ingredients 111.6 global sales and logistic managers, plus 3 Kolmar Group 1,288.3 31 ClearTech Industries 107.0 workers on several terminals and warehouse 4 IMCD 1,114.8 32 Sea-Land Chemical 106.7 operations; sales oƒices in Brazil, Japan, 5 Azelis 1,045.2 33 H.M. Royal 105.2 China, US and EU 6 Tricon Energy 1,004.9 34 Harwick Standard 100.0 Trading sales: 3% 7 Hydrite Chemical 700.0 Distribution 35 Chemsolv 92.0 CELLMARK 8 Hawkins 530.0 36 Tanner Industries 90.0 44 2019 SALES: $300.5M 9 Quadra Chemicals 491.7 10 Maroon Group 463.0 37 TCR Industries 90.0 Gothenburg, Sweden 11 EMCO Chemical 358.0 38 Mays Chemical Company 86.5 www.cellmark.com Distributors 39 Miles Chemical 84.5 President, Chemicals Division: 12 PVS Distribution Group 289.0 40 TRiiSO 82.0 Hugo Galletta 13 LBB Specialties (Charkit, AIC 271.1 41 Skyhawk Chemicals 78.8 President, Basic Chemicals Division: and Dien) 42 The Chemical Company 78.6 Ersin Alkan 14 ICC Chemical 261.4 43 George S. Coyne Chemical 77.8 Products: Basic chemicals; lignosulfonates; 15 Interstate Chemical 246.4 44 Callahan Chemical 75.3 caustic soda; semiconductor materials; re- 16 Wego Chemical Group 246.2 newable batteries; oil‘ield chemicals; water 45 Chemical Solvents 75.0 17 Superior Oil 226.0 treatment chemicals; coatings; agrochemi- 46 Webb Chemical Service 75.0 18 Colonial Chemical Solutions 225.2 cals; ‘lame retardants; food and beverage in- 47 TER Group 71.9 gredients; cosmetics and active pharmaceu- 19 Caldic 224.5 48 CellMark 68.4 tical ingredients; organic and inorganic 20 ChemGroup 200.0 49 Tennants Distribution 67.7 chemicals; vitamins, plant extracts, nutra- 21 K-Solv Group 200.0 50 Astro Chemicals 67.0 ceuticals and amino acids; specialty and ‘ine 22 Special Materials Company 194.0 51 Connection Chemical 66.5 chemicals 23 Marubeni Specialty 188.1 52 Greenchem Industries 64.5 Services: Sales and marketing; sourcing; Chemicals 53 Petrochem Middle East 64.5 custom manufacturing; packaging; blend- 24 Ravago Chemicals 179.6 54 Sa‘ic-Alcan 64.0 ing; milling and granulation; R&D; regulatory; 25 Barton Solvents 173.2 market research; logistics 55 Chemisphere 63.0 26 The Plaza Group 162.0 Assets: Production equipment and invento- 56 SolvChem 61.6 27 Omya 129.2 ry held at public warehouses in over 20 loca- 57 Brainerd Chemical 58.0 tions worldwide 28 Pride Chemical Solutions 126.0 Trading sales: 40%

PR OTEA CHEMICALS icals for polyurethanes, paints, resins, con- Chairman and managing director: 45 2019 SALES: $300M struction and polymers sectors; solvents; M Ponnuswami additives; silicones; pigments; monomers; Products: Basic chemicals; acids and deriva- Bryanston, Gauteng, South Africa emulsi‘iers; polyols; isocyanates; biocides; tives; coatings and inks; plastics and com- Interim managing director: Pieter Swart APIs and pharmaceutical excipients; home posites; textile chemicals; leather and paper www.proteachemicals.co.za and personal care ingredients; veterinary chemicals; sugar chemicals; water treatment Products: Food ingredients; water-care chem- products; feed and food premixes and ingre- chemicals; lubricants; monomers; aromat- icals; consumer care ingredients; animal nutri- dients; vitamins; amino acids ics; ketones; esters; ethers; alcohols; aliphat- tion ingredients; coatings, adhesives and sol- Services: Blending; packaging; storage; dilu- ic solvents vents; polymers; bulk liquids; bulk powders tions; technical applications laboratories (pol- Services: Small packaging; underground Services: Freight; dry and liquid blending; yurethanes, home and personal care, phar- storage; technical service; custom blending; third-party manufacturing; warehousing; maceuticals and food); full technical support; just-in-time delivery laboratory services; planning; training; envi- formulation; physical, chemical and microbio- Assets: 25 branches in India; ‘ive overseas ronmental management logical accredited ISO 17.025 laboratory branches in Dubai, Australia, Singapore, Assets: 200 Trucks; over 30 warehouses; 10 Assets: Three warehouses in Brazil; one Bangladesh and Sri Lanka; 23 warehouses facilities; eight distribution facilities warehouse in Argentina; four premix facili- across India (inclusive of seven explosive re- Trading sales: 10% ties for animal nutrition; one premix facility packaging warehouses); leased terminal fa- for food nutrition cilities at Kandla, Mumbai, Ennore, Kakinada MCASSAB Trading sales: 0.5% and Haldia 46 2019 SALES: $294.3M P ON PURE CHEMICALS GROUP TO P SOLVENT São Paulo, Brazil 47 2019 SALES: $293.4M 48 2019 SALES: $291.6M www.mcassab.com.br CEO: Victor Cutait Neto Chennai, Tamil Nadu, India Chatuchak, Bangkok, Thailand Products: Performance and specialty chem- www.pure-chemical.com www.topsolvent.com/en

64 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 64 31/05/2020 12:21 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS

North America chemical distribution leaders (2019 sales) Company Sales ($m) Company Sales ($m) Company Sales ($m) 58 Rowell Chemical 58.0 85 R.E. Carroll 30.6 111 Faravelli 6.8 59 Walsh & Associates 56.0 86 Connect Chemicals 29.0 112 Norkem Holdings 6.5 60 Buckley Oil 55.5 87 JNS-Smithchem 26.2 113 ProChema 6.2 61 Tarr 51.0 88 Barentz International 23.8 114 Behn Meyer Group 5.6 62 TRInternational 50.5 89 Atlantic Chemicals Trading 23.6 115 DutCH2 5.3 63 Valudor Products 49.0 90 Biesterfeld 22.5 116 Sinochem Plastics 5.0 64 McCullough & Associates 48.7 91 Eagle Alcohol Company 21.7 117 Snetor 5.0 65 Chem One 45.9 92 Seacole 21.0 118 Arpadis Benelux 4.5 66 Chemical Distributors Inc 45.0 93 Gulf Coast Chemical 20.6 119 TZ Group 4.0 (Buffalo, NY) 94 Joss Elastomers & 19.1 120 Castle Chemicals 3.9 67 Coast Southwest 44.0 Chemicals 121 Prakash Chemicals 3.4 68 Ideal Chemical & Supply 43.5 95 DAXX 19.0 International 69 Gehring Montgomery 43.0 96 Schibley Solvents and 19.0 122 Harke Group 3.4 Trexan Chemicals Chemicals 123 Bodo Moeller Chemie 3.0 70 Vivion 41.0 97 Metafrax Trading 18.3 124 Quimdis 2.8 International 71 Min-Chem/Lawrason’s/CK 39.6 125 Solventis 2.5 Ingredients Group 98 Kadion Especialidades 16.5 126 KPL International 2.1 72 Acid Products Company 38.6 Quimicas 127 Arkem Kimya 2.0 73 Jebsen & Jessen Group 38.2 99 American Chemie 16.0 128 Thommen-Furler 1.9 74 PHT International 36.3 100 Echemi Group 15.4 129 Aug. Hedinger 1.7 75 Rahn Group 36.0 101 EMCO-Inortech 15.4 102 Bufa Chemikalien 15.0 130 Shamrock Shipping & 1.7 76 Northspec Chemicals 35.0 Trading 77 Seeler Industries 35.0 103 Lehmann & Voss & Co./ 13.5 Lehvoss Group 131 Jobachem 1.6 78 Veckridge Chemical 35.0 104 Novasol Chemicals Group 13.0 132 Eigenmann & Veronelli 1.3 79 ECEM European Chemical 33.6 133 Emsa Tecnologia Quimica 1.1 Marketing 105 Manuchar 12.0 134 Selectchemie 1.0 80 Independent Chemical 33.0 106 ChemCeed 9.4 135 Cornelius Group 1.0 81 Radchem Products 32.8 107 Redox 9.4 82 GJ Chemical 32.0 108 Nordmann, Rassmann 7.9 83 Industrial Chemicals Corp 32.0 109 Brisco 7.5 NOTE: Sales are by region and may differ from the total sales ¦igure in the main Top 100 listing. Table excludes 84 Van Horn, Metz & Co 32.0 110 SMA Collaboratives 7.4 companies that do not break out sales by geography

CEO: Acharee Tiyabhorn (QC and technical); 54 bulk lorries (con- Products: Mining chemical products and Products: Hydrocarbon solvents (hexane, tracted); 45 pack trucks (contracted) blends; water treatment products; paper pentane, SBP group (rubber solvents), tolu- Trading sales: 3% chemical blends; oil and gas chemicals; basic ene, xylene, aromatic solvents (A100 / A150), industrial chemicals; feed additivies and spe- white spirits; chemical solvents (IPA, ace- P VS DISTRIBUTION GROUP cialties; poultry pigments; feed premixes; ani- tone, MEK, ethyl acetate, butyl acetate; sty- 49 2019 SALES: $289M mal health products; food ingredients, blends rene monomer (SM); ethylene glycol (MEG, and ¦lavours; plastic bags and sacks DEG); specialty chemicals; food ingredients; Detroit, Michigan, US Services: Packaging and storage; blending; pharmaceutical ingredients; personal care www.pvschemicals.com dilutions; production (pigments, animal vac- ingredients; animal feed products; cleaning CEO: Tim Nicholson cines, ¦lavours); application consultanting; products Products: Full line distribution specialising in quality control; total chemical management Services: Manufacturing of hydrocarbon inorganic chemistry, surfactants, water treat- services at customers solvent products; storage; drum ¦illing; ment, HI&I, metal working, food, oil and gas Assets: 13 warehouses; eight labs (quality multi-delivery mode offerings – vessel, and agriculture control, applications); four headquarters in bulk lorry, isotank, drum; thinner blending Services: Blending; packaging; storage; de- Lima (Peru), Buenos Aires (Argentina), Curiti- Assets: One manufacturing plant for hy- livery; bulk; minibulk; microbulk; transloading ba (Brazil), Medellin (Colombia) drocarbon solvents with nameplate capac- Assets: Six warehouses; 100 company- Trading sales: 2% ity of 141,000 tonnes via subsidiary Sak owned trucks; multiple terminals Chaisidhi Company Limited (SAKC); two KTM tank terminals in Thailand; two tank termi- QUIMTIA 51 2019 SALES: $277M nals in Vietnam; 73 chemical storage tanks 50 2019 SALES: $287M with capacity of over 46m litres; seven Istanbul, Turkey warehouses with capacity of 38,000 Lima, Peru www.ktm.com.tr/en/ drums (200 litres); loading and unloading www.quimtia.com CEO: Keyan Zul¦ikari facilities; drum ¦illing station; laboratory President and CEO: Diego Collard Bovy Products: Polymers, oxo alcohols, solvents,

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plasticizers, monomers, rubber & rubber N ORKEM HOLDINGS K PL INTERNATIONAL chemicals, polyurethane raw materials, TiO2, 55 2019 SALES: $260.6M 56 2019 SALES: $260.1M RS18.54BN organic & inorganic chemicals Services: International marketing, distribu- Knutsford; Cheshire; UK New Delhi, India tion, logistics, packaging, storage, inventory www.norkem.com www.kplintl.com management, VMI & JIT, blending, inancing, Group MD; A Nicholson Managing director: Surinder Kumar Kak risk management Products: Iodine and iodine salts; zinc oxide Products: Bulk and essential chemicals; Assets: Pan European coverage and o‚ices, and zinc salts; manganese compounds; cop- polymers; paper and allied chemicals; spe- shore tanks & bulk storage facilities, numer- per salts; barium carbonate; citric acid; po- cialty chemicals; paints and coatings chem- ous warehouses covering Europe and Turkey, tassium carbonate and hydroxide; food icals; industrial and specialty gases; engi- truck leet and road tankers chemicals; pharmaceutical intermediates; neering consumables; darjeeling teas; Trading sales: 25% feed chemicals renewable energy Services: Blending; packaging; manufactur- Services: Development of markets for new LBB SPECIALTIES ing; liquid suspensions; liquid solutions products and applications; re-packaging; 52 CHARKIT, AIC AND DIEN Assets: 12 locations worldwide market intelligence, technical support for 2019 SALES: $271.1M Westborough, Massachusetts, US Middle East/Africa chemical distribution leaders (2019 sales) www.LBBSpecialties.com Company Sales ($m) Company Sales ($m) CEO: Darren Birkelbach 1 Petrochem Middle East 955.5 35 Quimdis 9.5 Products: Personal care ingredients; nutri- 2 Snetor 835.0 36 Indukern 9.5 tional ingredients; food and beverage in- gredients; biotech and life sciences chemi- 3 Tricon Energy 777.4 37 Ricardo Molina 9.2 cals; aroma chemicals and lavours and 4 Manuchar 285.0 38 Grupo RNM 9.2 fragrances; HI&I chemicals; imaging chem- 5 Kolmar Group 178.5 39 Barentz International 9.0 icals; metal and water treatment chemi- 6 Ravago Chemicals 168.4 40 Selectchemie 9.0 cals; paint and coatings materials; imaging 7 Rakha Al Khaleej 146.4 41 Unipex 7.7 components; specialty chemicals; indus- International 42 DutCH2 7.4 trial products 8 Afriglobal Commodities 124.8 43 Barcelonesa de Drogas Y 7.3 Services: Warehousing; blending; packag- 9 Quimidroga 108.9 Productos Quimicos ing; custom/contract manufacturing; cus- 10 ICC Chemical 104.6 44 Emsa Tecnologia Quimica 7.3 tom synthesis; product development 11 Tah Al Mulook General 103.0 45 Audiche Trading 6.6 Assets: 32 stocking locations in North America Trading 46 Rishichem Distributors 6.5 12 Transmare Chemie 91.5 R AKHA AL KHALEEJ 47 Grolman Group 5.6 13 Nesstra Services 74.0 53 INTERNATIONAL 48 Proquibasa 5.6 2019 SALES: $267M 14 CellMark 68.7 49 Rahn Group 5.0 Dubai 15 Prakash Chemicals 53.4 50 Noahs Ark Chemicals 4.6 International www.rai-uae.com 51 Joss Elastomers & Chemicals 4.5 CEO: Henry F Roth 16 Shamrock Shipping & 45.2 Trading 52 Lehmann & Voss & Co./ 4.5 Products: Polymers, masterbatch and iller Lehvoss Group 17 Echemi Group 43.0 Services: Distribution & trading 53 Penpet Petrochemical 3.9 Assets: Four owned warehouses, several on 18 Biesterfeld 42.7 Trading lease 19 Omya 42.4 54 Neo Chemical 3.5 Trading sales: 20% 20 Venus Chemicals Group 42.0 55 Will & Co 3.0 21 Linkers Chemicals & 37.4 56 2M Holdings 2.7 TENN ANTS DISTRIBUTION AND Polymers 57 KPL International 2.5 54 ASSOCIATED COMPANIES 22 Kale Kimya 34.0 58 TOP Solvent 2.4 2019 SALES: $266.7M £201M 23 Bodo Moeller Chemie 31.3 59 Arpadis Benelux 2.2 www.tennantsdistribution.com 24 Jebsen & Jessen Group 23.6 Managing director: Tim Gri‚iths 60 Adeka Polymer Additives 2.1 25 Sa ic-Alcan 23.0 Chairman: Andrew Mitchell Europe Products: Acids and alkalis; animal feed raw 26 Pon Pure Chemicals Group 20.6 61 Arkem Kimya 2.0 materials; fatty acids, alcohols and esters; 27 Skystep Trading 20.0 62 Thommen-Furler 1.9 food ingredients and lavours and fragranc- 28 Solventis 19.9 63 Wistema 1.9 es; general chemicals; Greenox AdBlue; per- 29 ECEM European Chemical 18.6 64 Wego Chemical Group 1.6 sonal care ingredients; pharmaceutical prod- Marketing 65 Kemat 1.4 ucts; resins; solvents; specialty products; 30 Azelis 16.8 66 Atlantic Chemicals Trading 1.1 surfactants; water treatment chemicals; 31 Norkem Holdings 15.5 67 Hawkins 1.0 white oils and petroleum jelly 32 Solvadis Group 13.5 68 PHT International 1.0 Services: Warehousing and storage; re-pack- 33 Sinochem Plastics 11.0 aging; blending; formulating; re-labelling 69 Haeffner 1.0 34 Bufa Chemikalien 10.0 Assets: 20 sites (including warehousing and NOTE: Sales are by region and may differ from the total sales igure in the main Top 100 listing. Table excludes storage); own vehicles companies that do not break out sales by geography Trading sales: 2%

66 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

TOP 100 listing CS6 for ICB_v2.indd 66 31/05/2020 12:27 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS

quality control, testing and plant audits; af- ter-sales support; sourcing, export, procure- ment and auditing services; sourcing and exporting from India, China and Middle East to international markets; warehousing and logistics Assets: Eight warehouses; two bottling fa- cilities for refrigerants and industrial gases; eight wind turbines with generation capacity of 15.35MW; tea garden Trading sales: 27.76%

KRAHN CHEMIE 57 2019 SALES: $254M €226M

Hamburg, Germany www.krahn.eu CEO: Rolf Kuropka, Axel Sebbesse Products: Coating ingredients (additives, rheology modi‹iers, pigments and colorants, resins, biocides, ‹ilm consolidation agents); construction chemicals (additives, pig- ments, ‹illers, rheology modi‹iers); adhesives ingredients (resins, plasticizers, additives, bonding agents); plastic ingredients (addi- tives, plasticizers, ‹lame retardants), rubber ingredients (synthetic rubber, adhesion pro- moters, mould release agents); ceramic in- gredients (zirconia, alumina, binders); CIM &

MIM compounds; lubricant ingredients (base Shutterstock oils, additives & additive packages); heat transfer ‹luids www.arkem.com Assets: Six warehouses; 14 trucks Services: Technical sales and marketing Chairman and CEO: Levend Kokuludag Trading sales: 30% support; R&D; application development; lab- Products: Monomers; hydrocarbon sol- oratory analysis, colorimetry and colour- vents; alcohols; ketones; esters; glycols; gly- S UPERIOR OIL matching service, formulation advice, pro- col ethers; chlorinated solvents; oleochemi- 61 2019 SALES: $226M duction, warehousing and logistics cals; specialty chemicals; cosmetics; solutions, mixing and blending, re-packag- pharmaceuticals; food ingredients; sur- Indianapolis, IN, US ing, sampling service, legislative and regula- factants; plastics www.superioroil.com tory support Services: Sales and marketing; bulk stor- President: Kurt Hettinga Assets: Three technology centres age; blending; formulating; drumming; Products: Solvents; water-based cleaners; Trading sales: 0% packaging; labelling and other warehousing paint pre-treatment products; paint purge; services thinners; heat transfer ‹luids; pressroom INTERSTATE CHEMICAL Assets: One deep-sea tank terminal at Gebze, chemicals; ‹ibreglass reinforcements; resins; 58 2019 SALES: $246.4M Turkey with capacity of 84,000cbm; logistics catalysts; gel coats; corrosion inhibitors; sur- company with 75 transport units and 600 ISO factants; plasticizers Hermitage, Pennsylvania, US tank containers; four warehouses (two in Is- Services: Solvent recycling; blending; cus- www.interstatechemical.com tanbul, one in Izmir and one in Rotterdam) tom manufacturing; private labelling; waste Chairman and president: Albert R Puntureri Trading sales: 3% disposal; acetone replacement systems; Products: Alcohols; ketones; solvents; gly- vendor managed inventory; regulatory con- cols; catalysts; plasticizers; resins; thermal BUF A CHEMIKALIEN sulting; bulk and package delivery ‹luids; caustic soda; acids 60 2019 SALES: $230M Assets: Eight full service locations; 55 Services: Blending; storage; toll manufac- trucks; 150 trailers; 250 bulk tanks; 55 blend turing; river terminal services; manufactur- Hude, Germany tanks ing catalysts, plasticizers, resins, thermal ‹lu- www.buefa.de ids and various sodium-based products CEO: Ronald Ijzer COL ONIAL CHEMICAL Assets: Nine warehouses; two river termi- Products: Ethanolamines; ethylene glycol 62 SOLUTIONS nals; 98 trucks; 170 tankers; storage tank ethers; ethylene glycols; polyethylene gly- 2019 SALES: $225.2M rentals cols; propylene glycol ethers; propylene gly- Savannah, Georgia, US col; isopropyl alcohol; propionic acid; formic www.colonialchemicals.com ARKEM KIMYA acid; caustic soda; solvents; aromatics; sty- Vice president: Rob Roberts 59 2019 SALES: $235M rene; surfactants; oxo alcohols Products: Full line of organics and inorgan- Services: Formulating; warehousing; ‹illing ics; aromatics; aliphatics; alcohols; acids; Istanbul, Turkey and bottling; blending; logistics; drumming chlor-alkali; oleochemicals and specialty

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chemicals; methanol; heptane; caustic soda; friendly consultancy and planning; technical sulphuric acid; hydrochloric acid; sodium hy- glycerine; antioxidants consultancy; training sessions on safety and pochlorite; plastics (PE, PP, PVC, PS, PET, Services: Global sourcing; re-packaging; the law; waste disposal; consultancy on EVA); solvents; specialties; glycols; propyl- custom blending; just-in-time inventory chemical law and REACH ene glycol; glycol ethers; surfactants; sili- Assets: Six rail-served warehouses; multiple Assets: 12 warehouses cones; methanol; epoxy resins; inorganics; bulk tanks; truck and rail leet; blend tanks Trading sales: 20% specialty chemicals; sulfonic acid, SLES Trading sales: 20% Services: Storage of liquid and packed BA NDEIRANTE QUIMICA products; blending; standard and tailor- HSH CHEMIE 66 2019 SALES: $213.8M made packaging; stock control and teleme- 63 2019 SALES: $224.5M €200M try; logistics operations consulting Sao Paulo, Brazil Assets: Logistics complex at the Famalicao, Hamburg, Germany www.bbquimica.com.br Santo Tirso, Madrid, Valencia, Vigo, Cartagena, www.hsh-chemie.com CEO: Carlos Eduardo Marin Lisboa with 65,000 square metres, with capac- CEOs: Stephan P Lohden, Frank Raabe, Products: Aromatics; aliphatic solvents; oxy- ity for 40,000 tonnes of packed products and Stefan Rather genated solvents; ethanolamines; titanium di- 8,000 cubic metres of liquids in 45 tanks; ive Products: Specialty chemicals for coatings, oxide (TiO2); surfactants; specialty resins; car- tank terminals for liquids with 42,000 cubic adhesives and building, personal and home bon black; tailor-made blends; UV monomers/ metres and packed solids; own leet of 55 care, food, feed and pharma, plastics and rub- oligomers; household and personal care trucks; 50 cisterns; six semi-trailers; 65 stain- ber, and industrial performance applications chemicals; silicas; amines; agricultural chemi- less steel isotainers of 26 cubic metres Services: Technical consultancy; formula- cals; epoxy resins; glycols; mining chemicals Trading sales: 10% tion advice; storage and logistics; sampling; Services: Blending; agency sales (indent inancing; full compliance support; full mar- sales); formulation; technical assistance; M ARUBENI SPECIALTY keting support storage; packaging 70 CHEMICALS Assets: 12 sales o†ice locations in Central Assets: Six branches; 95 tanks; three ware- 2019 SALES: $205.3M and Eastern Europe houses; truck leet; two laboratories; 2,500 White Plains, New York, US Trading sales: 10% intermediate bulk containers (IBCs) www.marubenisci.com President: Hidehiko Yoshida UNI TED TRADING SYSTEM E C HEMI GROUP Products: Industrial chemicals; specialty 64 UTS ETC 67 2019 SALES: $211.6M chemicals; paper chemicals; construction 2019 SALES: $218M chemicals; cement additives; solvents; adhe- St Petersburg, Russia (UTS Purchasing Hong Kong, China sives; plastics; food and beverage ingredi- HQ Åstorp Sweden) www.echemi.com ents; feed and pharmaceutical ingredients; www.utsrus.com CEO: David Zhang agrochemicals Managing Director UTS: Lars Hjorth Products: Food additives; pharmaceutical Trading sales: 10% Managing Director ETC: Andrey Shkola intermediates; paint and coating materials; Products: Paint & coating chemicals; dry rubber and plastic additives; ine chemicals CHEMPARTNERS mixture & construction chemicals; plastics Services: Raw materials supply; research 71 2019 SALES: $202.2M and polymer additives; rubber chemicals; and analysis; marketing; logistics; warehous- resins and chemicals for composites; ibres; ing after-sales services; e-commerce Moscow, Russia chemicals for detergents; cosmetics and Assets: Seven worldwide operations cen- www.propartners.ru household chemicals; oil & oilield, lubri- tres; two warehouses; one factory CEOs: Gaurav Sood, Constantin Rzaev cants and reinery additives & chemicals; Trading sales: 10% Products: Plastics; polyoleins; recycled pol- food additives; specialties and chemicals of ymers; processing additives; solvents; polyu- general application; pharmaceutical raw ma- SOLVENTIS rethanes, MCAA; disinfection chemicals; terials; agricultural chemistry 68 2019 SALES: $209.5M €186.6M pulp and paper chemicals; animal feed; Services: Storage; mixing/blending; labora- water treatment chemicals; synthetic ibres; tories; tech support; developing certiication Guildford, Surrey, UK food and beverage ingredients; oilield Assets: 13 o†ices and 14 warehouses; www.solventis.net chemicals; ine chemicals; lexible packag- 40,000m2 of warehousing; 14,000m2 o†ice CEO: David Lubbock ing; chemicals for crude transportation; rub- space; seven laboratories; 500 employees Managing director: Nick Johnson ber chemicals, mining chemicals; paint and Trading sales: 0% Products: Antifreeze; alcohols; brake luids; construction chemicals esters; glycols; ketones; propylene glycols; Services: Blending; packaging; vendor man- D ONAUCHEM deicers aged inventory; contract manufacturing; in- 65 2019 SALES: $215.6M €192M Services: Blending; drumming ternational and local logistics; sourcing; sur- Assets: Storage and blending facilities in veying; market research; studying centre; Vienna, Austria Antwerp, Belgium and UK zero waste services www.donauchem.com Assets: 24 warehouses (rented); one o†ice Board member: Bogdan Banaszczyk GRUP O RNM space (owned) Products: Commodities and specialty 69 2019 SALES: $205.3M Trading sales: 15% chemicals used in food, pharmaceuticals, paint and construction, cosmetics and deter- Famalicao, Portugal CHEMGROUP gents, metals, printing, water treatment; cus- www.grupornm.pt 72 2019 SALES: $200M tomer speciic compositions CEO: Ricardo Machado Services: Mixing; blending; environmentally Products: Caustic soda; hydrogen peroxide; Cincinnati, Ohio, US

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www.chemgroup.com Services: Chemical distribution; chemical Products: Glycols; ethanolamines; fatty President: Marty Wehr packaging; chemical blending; chemical acids; intermediates; solvents; antifreeze; Products: Acids; alkalis; hydrogen peroxide; laboratory; maritime services; emergency glycerines; sequestering agents sodium hypochlorite; solvents and interme- spill response; disaster response; hazmat re- Services: Storage; packaging; blending; an- diates; glycols; glycol ethers; amines; sur- sponse; industrial services; waste manage- tifreeze production factants; alcohols; water treatment chemi- ment; transportation Assets: Head o”ice; warehouse of 54,000 cals; nitrogen products; white oils; borates; Assets: Texas: tote and drum warehouse square metres (15,000 covered) lime; specialty chemicals; gas-to-liquids tank farm; „lare; nitrogen access; dock; Loui- (GTL) „luids and solvents siana: distribution warehouse S PECIAL MATERIALS COMPANY Services: Chemical and inventory manage- 76 2019 SALES: $194M ment; blending; warehousing; technical and WWRC HOLDING safety training; customised billing 74 2019 SALES: $200M New York, NY, US Assets: 10 warehouses with over 450,000 www.smc-global.com square feet, over 2m gal bulk storage; 28 Singapore CEO: Adam Feldman tractors; 18 straight trucks; 38 trailers; 12 CEO: Teoh Weng Chai Products: Specialty solvents; paints and tankers Products: Resins/intermediates; additives/ coatings additives; oil„ield chemicals; catalysts; pigments/„illers/extenders; other phosphorus derivatives; water treatment K SOLV GROUP chemicals/solvents; grinding media chemicals; biocides; friction reducers; 73 2019 SALES: $200M Services: Technical service; storage electronic chemicals; mining chemicals; Assets: Eight warehouses „lame retardants; textile additives; photo Houston, Texas, US imaging chemicals; PCBTF; sodium hy- www.ksolv.com GA MMA CHIMICA pophosphite; glutaraldehyde; scale and CEO/owner: Russell Allen 75 2019 SALES: $194.8M corrosion inhibitors Products: Aliphatic solvents; aromatic sol- Services: Custom blending; relabelling; so- vents; alcohols; glycols; glycol ethers; ace- Lainate, Milan, Italy lution adjustments; neutralisation reactions; tates; chlorinated solvents; ketones; base www.gammachimica.it conversions; dilutions; storage; warehous- oils; white oils; acids President: Giuseppe Mearini ing; bulk storage; consignment inventory;

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just-in-time delivery; 3rd party warehousing; THOMMEN€FURLER CONNE CT CHEMICALS GROUP technical sales and support; regulatory af- 78 2019 SALES: $190.9M €170M 79 2019 SALES: $185.5M fairs expertise Assets: Five global production sites; 15 ware- Ruti bei Buren, Switzerland Ratingen, Germany houses; truck leet of 30 trucks – both bulk www.thommen-furler.ch www.connectchemicals.com tankers and dry vans CEO: Franz Christ CEOs: Basar Karaca, Dirk Otmar Products: Industrial chemicals (inorganics, Products: Household and industrial care BA NG & BONSOMER organics, liquids and solids); ethanol; hy- chemicals; cosmetics and personal care in- 77 2019 SALES: $193.1M €172M giene and surface cleaning products; acti- gredients; water treatment chemicals; lubri- vated carbon; intermediates; plasticizers; cants and metal-working chemicals; paper Helsinki, Finland high purity solvents and reagents; electronic chemicals; coatings, adhesives and sealants; www.bangbonsomer.com grade chemicals; industrial and automotive plastics CEO: Mikko Teittinen lubricants; marine and aviation lubricants; Services: Custom manufacturing; storage; Products: Specialty raw materials, additives automotive luids; car care products; Ad- blending and material technology solutions for coat- Blue; wastewater treatment chemicals and ings and construction, food, personal and installations METAFRAX TRADING home care, polymers and packaging, com- Services: Storage; blending; mixing; pack- 80 INTERNATIONAL posites and polyurethanes aging; laboratory services; quality and con- 2019 SALES: $184.1M €164M Services: Process chemistry solutions with trol tests; hazardous waste management; Lugano, Switzerland engineering, remote control and digitalisa- tank farm management by telemetry www.metafraxtrading.com tion; manufacturing of industry intermediate Assets: Seven dedicated sites for chemi- Executive director: Marina Sivkova products and functional blends; application cals and hazardous waste handling; tank Products: Methanol; hexamine; pentaeryth- laboratory services; R&D and formulations; farms and warehouses for chemicals and ritol and dipentaerythritol (including micron- blending; dissolving; packaging; warehous- hazardous waste; blending, mixing and ill- ised grades); melamine; paraformaldehyde; ing; logistics ing installations; waste treatment installa- phthalic anhydride Assets: R&D centre; eight application labo- tions; 57 road tankers and trucks for gener- Services: Storage of liquid and solid chemi- ratories and technical centres; six manufac- al cargo; 114 tank wagons and tank cals; trans-shipment; blending; toll manu- turing sites; 15 warehouses containers facturing; warehousing; packaging; deliver-

70 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

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ies by vessel, rail, container, truck and www.barsol.com Assets: Class 2 storage facilities; 11 ware- silo-truck President: David M Casten houses (Antwerp, Hamburg, Singapore, Ma- Assets: Head oice in Switzerland; branch Products: Aliphatics; aromatics; alcohols; laysia, Algeria, Angola, Ivory Coast, Nigeria, oice in Austria; two manufacturing/ware- glycol ethers; acetates; ketones; glycols; Kenya) housing sites in Russia, one in Austria; third- epoxy resins; surfactants; distilled spirits; Trading sales: 50% party warehouses in Netherlands, Poland, specialty chemicals; USP/NF pharmaceutical Russia, Spain and the US ingredients; oils; lubricants H AEFFNER Trading sales: 10% Services: Custom packaging; custom 84 2019 SALES: $170M blending; delivery to customer or job site; SELECTCHEMIE waste services; laboratory services Asperg, Stuttgart, Germany 81 2019 SALES: $175M Assets: Seven stocking locations; delivery www.hugohaeffner.com Šleet of 84 power units and 149 trailers CEOs: Juergen Martin, Thomas Dassler Zurich, Switzerland Products: Water treatment chemicals; paint, www.selectchemie.ch TR ANSMARE CHEMIE ink, coating, adhesive and resin additives; CEO: Peter Kaufmann 83 2019 SALES: $171.8M €153M paint, textile and leather auxiliaries; food ad- Products: FDF (Šinished dosage forms, medi- ditives; feed additives; metal treatment cine); generics; pharmaceutical active sub- Antwerp, Belgium chemicals; household and personal care in- stances (APIs) and excipients; nutritional in- www.transmare.com gredients; lubricant additives gredients www.transmare-chemie.com Services: Mixing, blending and formulating; Services: Regulatory support; development CEO: Patrick Van Ende repackaging; contract packaging, warehous- of generic dossiers; storage; lab trials Products: Chemicals and blends for the oil ing of hazardous goods; just-in-time-deliv- Assets: Three warehouses (Hamburg, Ger- and gas industry; Šine chemicals for health, ery; application advice by highly skilled tech- many; Zurich, Eiken Switzerand) personal care and home care as well as food nical sales team; single sourcing Trading sales: 5% and feed applications; industrial and high pu- Assets: Six warehouse facilities across Eu- rity solvents; chemicals and pigments for rope with tank farm for acids/lyes/solvents BARTO N SOLVENTS paints and adhesives; reference fuels; plas- and Hazard Analysis and Critical Control 82 2019 SALES: $173.2M tics additives Points (HACCP) Šilling and blending area; one Services: Personalised blends and formula- laboratory; 30 trucks Des Moines, Iowa US tion support; drumming and packaging Trading sales: 10%

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2M HOLDINGS N ORTEX Assets: One warehouse; one bulk storage 85 2019 SALES: $170.0M £127.9M 86 2019 SALES: $162.4M tank; 101 railcars

Runcorn, UK Moscow, Russia ATLANTIC CHEMICALS TRADING www.2m-holdings.com www.nortex-chem.ru 88 2019 SALES: $157.2M €140M MBE: Mottie Kessler CEO: Vladimir Yakushin Products: Triklone, Perklone and MEC Prime; Products: Isocyanates; polyols; epoxy res- Hamburg, Germany SamSol; chlorine gas (cylinders and drums) ins; hardeners; synthetic rubber; natural rub- www.act.de for water treatment and chemical synthesis; ber; phenolic resins; engineering plastics; CEO: Ramin Ghaffari surfactants/rheology modi­iers; AdBlue; aer- polyole­ins; polyester resins; synthetic ­iber; Products: Vitamins; amino acids; sweeten- ospace approved products; anti-corrosive PVC resins; plasticizers; antioxidants; titani- ers; energy ingredients; sports nutrition in- environment friendly pigrments; oil­ield um dioxide gredients; preservatives; acidi­iers; ­lavours chemicals; specialty personal care and cos- Services: Storage; packaging; drumming; and fragrances; plant extracts; feed addi- metics ingredients; hydrocarbons and oxy- logistics tives; food additives; natural products genated solvents; homecare and I&I ingredi- Assets: Six o‘ices; 12 warehouses; three Services: Customising; global supply chain; ents; pharmaceutical excipients and APIs; trucks storage precision cleaning solutions; Cool-Phos and Trading sales: 20% Assets: 13 o‘ices worldwide; several ware- Vaposol; phosphating (metal pre-treatment) houses worldwide chemicals T HE PLAZA GROUP Trading sales: 10% Services: Blending; packaging; storage; for- 87 2019 SALES: $162M mulation and technical support with labora- H ARKE GROUP tory facilities; sample management; techni- Houston, Texas, US 89 2019 SALES: $154.7M €137.8M cal, regulatory and legislative expertise; toll www.theplazagrp.com blending; water treatment; pigment disper- President: Randy Velarde Muelheim an der Ruhr, Germany sion, development and formulation Products: Solvents; intermediates; elasto- www.harke.com Assets: Application laboratories; warehous- mers; styrenics; polyethylenes; ag chemi- President: Thorsten Harke ing in UK, Poland, Brazil, Nordics, Benelux; cals; lignosulfonates Products: Home care and I&I chemicals; own trucks Services: Marketing; logistics; storage coatings; electronics/high purity chemicals;

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TOP 100 listing CS6 for ICB_v2.indd 72 31/05/2020 12:22 SPECIAL REPORT TOP 100 CHEMICAL DISTRIBUTORS

food ingredients; health and functional food Services: Formulation and testing cals; plastic and rubber chemicals; lubricant ingredients; industrial chemicals; cosmetics/ Assets: Laboratories; warehouses chemicals; personal care and cosmetics in- personal care ingredients; pharmaceutical gredients; food ingredients; laboratory excipients; plastics; rubber chemicals; spe- ELT ON GROUP equipment cialty plastic ilms; specialty chemicals; poly- 91 2019 SALES: $149.3M €133M Services: Technical sales and marketing; ap- mers; water-soluble ilms; water treatment plication development; quality; warehous- chemicals Athens, Greece ing; regulatory services; supply chain man- Services: Reformulation; product develop- www.elton-group.com agement; after sales services; repacking; ment; regulatory advice; blending; mixing; CEO: Nestor Papathanasiou blending contract encapsulation; contract packaging; Products: Industrial raw materials and spe- Assets: One external warehouse reilling; sandblast gravure; pre-print cialties for coatings, adhesives, construction, Trading sales: 0% Assets: Warehouses in different European detergents, cosmetics, pharmaceuticals, countries; two production sites (Germany, food, feed, beverages, water treatment, B ODO MOELLER CHEMIE Hungary); 10 packaging and encapsulation metal treatment, PU systems, textiles, paper, 95 2019 SALES: $132.9M €118.4M lines; illing stations agrochemicals, rubber, plastics, refrigerants Trading sales: 10% Services: Local warehousing; full coverage Offenbach am Main, Germany of Greece, Bulgaria, Romania, Serbia, Turkey, www.bm-chemie.com GROLM AN GROUP Kosovo, Albania, North Macedonia, Cyprus Chairman and managing director: Frank 90 2019 SALES: $153.8M €137M and Ukraine markets; technical promotion Haug and business development; inventory man- Products: Adhesives and bonding systems Neuss, Germany agement (epoxy, polyurethane, MMA, hotmelts); seal- www.grolman-group.com Assets: Nine warehouses (four privately ants; silicones; resins (basic, epoxy, alkyd, Managing partners: Dirk Grolman, Florian owned); two laboratories; privately owned acrylic); casting and potting resins for elec- Grolman trucks and tank trucks tronics (polyurethane, epoxy and silicone Managing director: Mike Dorsam based); hardeners and curing agents; com- Products: Pigments and dyes; mineral illers KEY SER & MACKAY posites (resins, gelcoats, reinforcements); and performance materials; binders; addi- 92 2019 SALES: $141.5M €126M mould-making materials (boards, pastes, tives; actives and intermediates casting resins); additives for coatings (pig- Amsterdam, Netherlands ments, light stabilisers, dispersing agents, www.keysermackay.com thickeners); additives for plastics and rubber Managing partners: Gerard de Waal, Willem (pigments, stabilisers, masterbatches, stea- Augustinus rates); additives for lubricants (corrosion pro- Products: Specialty chemicals; raw materi- tection, antioxidants, metal deactivators); als for coatings, inks, plastics, rubber, adhe- chemicals and dyes for textiles; packaging sives, sealants, construction, personal care, and labelling adhesives food, feed, pharmaceuticals Services: Packaging; illing; testing; modii- Services: Technical sales and marketing; cation; blending and formulating; education local and central stockholding; sampling and training Assets: O™ices and warehouses in seven Assets: Application labs for adhesives, coat- European countries ings and textile chemistry; headquarters in Trading sales: Less than 5% Germany; a™iliates in Europe, Africa, Asia and US; local warehouses; production plant R AHN GROUP for polymer formulations 93 2019 SALES: $137M BAR CELONESA DE DROGAS Y Zurich, Switzerland 96 PRODUCTOS QUIMICOS www.rahn-group.com 2019 SALES: $132.5M €118M CEO: Marcel Gatti Barcelona, Spain Products: Raw materials for inks, coatings www.grupbarcelonesa.com and adhesives; personal care ingredients; la- CEOs: Enric Collell, Albert Collell vours, fragrances and food ingredients Products: Formulated blends for food and Services: Application support; R&D/custom- feed; agrochemicals; oilield chemicals; min- ised products; regulatory affairs; guide for- ing chemicals; resins, curing agents and mulations; international logistics; analytics composites; metal-working formulations; Trading sales: 50% chemicals for detergent, disinfection, home Care, personal care and pharmaceuticals; U RAI textile and leather chemicals; chemicals for 94 2019 SALES: $135M €120.3M coatings, inks, adhesives, construction, lubri- cants and paper; pool chemicals; water and Assago, Milano, Italy waste treatment chemicals; polyols and pol- www.urai.it yurethanes; chlor-alkalis; acids and bases; President & CEO: Roberto Giuliani metallic salts; solvents, amines and glycols Products: Specialty chemicals; pigments; Services: Blending and formulating; custom

Shutterstock additives; resins; paints and coatings chemi- and toll manufacturing; contract manufac-

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turing; labelling and drumming; packaging; CEO: Stefan Vollmer www.impag.com, www.impag.ch technical and environmental assistance; VMI Products: Organic and inorganic pigments; CEO: Remo Bernardi (telemetry); agency services; bond ware- binders; resins; waxes; preservatives; spe- Products: Coatings additives; anhydrides; housing for third parties; full logistics servic- cialty chemicals and additives for coatings; acrylates; polyols; ›lame retardants; polyure- es including hazmat plastics; adhesives and construction chemi- thanes; green solvents; detergents; base Assets: Eight warehouses with palletised stor- cals; specialty chemicals for the water treat- chemicals; cosmetic functionals and active age capacity: 70,000 square metres = 56,000 ment; functional additives and ingredients ingredients; food ingredients; pharmaceuti- pallets, located in southwest Europe and north- for food and feed; specialty casings cal/APIs; oleochemicals; metal treatment ern Africa; distribution and sea tanks: 17.000 Services: Marketing; product formulation and chemicals cubic metres; trucks; 80 people located in blending; custom packaging; product evalua- Services: Global logistics; global sourcing; southwest Europe, northern Africa, Latin Amer- tion in own laboratory; technical support team; storage; technical support; regulatory sup- ica and China; commercial agents in Turkey, green chemistry product solutions; warehous- port; ›inancing; packaging Jordan, Iraq, India, Indonesia, Vietnam, China ing and supply chain management; vendor Assets: Six sales o¢ices across Europe; one Trading sales: 20% managed inventory; ›ire class 4.1 category for tank farm for liquid goods; ›illing line for storage of highly ›lammable products chemicals; own application lab PRIDE CHEMICAL SOLUTIONS Assets: Two company owned and operated Trading sales: 20% 97 2019 SALES: $126M warehouses with total capacity of 45,000 tonnes; two laboratories; own truck ›leet PROCHEMA Holtsville, New York, US 104 2019 SALES: $122M www.pridesol.com AF RIGLOBAL COMMODITIES President: Arthur Dhom Jr 101 2019 SALES: $124.8M Vienna, Austria Products: Alcohols; amines; esters; glycols; www.prochema.com glycol ethers; hydrocarbons; ketones; min- Dubai, UAE President: Werner Figlhuber eral oils; petrolatum; polyols; oleochemicals; www.afriglobalonline.com Products: Additives and hardeners; plasticizers; silicones; stearates; surfactants CEO: Maneesh Garg acrylates and methacrylates; binders and Services: Blending; packaging; storage; NF Products: Polyurethane chemicals; paint resins; monomers; organic acids; polymers; USP Kosher repackaging; RSPO repackag- chemicals; cosmetics chemicals; basic polyurethane feedstocks; reactive diluents; ing; ethyl alcohol denaturing and packaging chemicals for detergent and food; TDI; poly- UV curing monomers Assets: Three warehouses; 12 tractor trailers; ols; methylene chloride; titanium dioxide; Services: Pan-European sales network; mar- ›ive straight trucks; 25 tank wagons; styrene acrylates; petroleum jelly; white oil; ket research; sales; ›inancing; storage; sup- 400,000 gal tank farm caustic soda; soda ash dense; lube additives; ply chain management corn starch; liquid glucose Assets: 13 sites in Europe and Asia FARAVELLI Services: Supply chain services Trading sales: 25% 98 2019 SALES: $125.9M €112.2M Assets: Three o¢ices; ›ive large warehouses; 27 Trucks ALGOL CHEMICALS Milan, Italy Trading sales: 100% 105 2019 SALES: $118.1M €105.2M www.faravelligroup.com CEO: Luca Benati CS C JAEKLECHEMIE Espoo, Finland Products: Chemicals and raw materials for 102 2019 SALES: $124.8M €111.2M www.algolchemicals.com food, pharmaceutical, nutraceutical, cos- Managing director: Fredrik Hansson metic and various industrial applications Nuremberg, Germany Products: Base chemicals; coatings chemicals; Services: Logistics and storage; regulatory www.csc-jaekle.de construction additives; polymer additives; emis- support; formulation support through our CEOs: Robert Spath, Michael Spehr, sion control materials; food and feed ingredi- labs; blending; repackaging Bernhard Schmid ents and additives; metal treatment chemicals; Assets: One plant; two labs; 10 warehouses Products: Industrial chemicals; acids; alka- mining chemicals; pharma industry auxiliaries; Trading sales: 25% line solutions; solvents; solids; specialties; personal care ingredients; detergent ingredi- coatings, adhesives and sealants (CASE) raw ents; soil remediation products; water treatment AR PADIS BENELUX materials; high quality industrial parts clean- chemicals; transportation chemicals 99 2019 SALES: $125.7M €112M ing chemicals; life science chemicals; water Services: Blending; packaging; storage; lo- and environment chemicals gistics; HSEQ consulting; procurement; sup- Antwerp, Belgium Services: Technical expertise and ›ield ser- ply management www.arpadis.com vice; warehouse and direct distribution; in- Assets: 21 warehouses; two blending and CEO: Laurent Abergel ventory management; blending and repack- packaging lines Products: Polyurethanes; acrylates and aging; proper disposal of chemical wastes; monomers; solvents; glycols; adipic acid; worldwide shipment; trucking QUIMDIS HMD; specialty acrylates Assets: Two storing, ›illing and trans-ship- 106 2019 SALES: $114.2M €101.7M Services: Drumming; blending; storage and ment sites; warehouse; two laboratories for transport through our third party partners quality assurance; six tank wagons for chem- Levallois-Perret, France icals; 13 trucks; 26 company vehicles www.quimdis.com TILLMANNS President: Jean-Francois Quarre 100 2019 SALES: $125.7M €112M I MPAG Products: Food and feed ingredients/sup- 103 2019 SALES: $123.5M €110M plements; pharmaceuticals and veterinary Milan, Italy APIs; cosmetics ingredients; essential oils; www.tillmanns.it Zurich, Switzerland aroma chemicals

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Services: Blending oils; compounding; Services: Blending; packaging; storage www.essentialingredients.com sourcing Assets: Two warehouses CEO: Kris Maynard Assets: Headquarters in Paris area; factory in Trading sales: 25% Products: Personal care ingredients; home Grasse, France; two warehouses care chemicals; industrial and institutional Trading sales: 67% UNIPEX chemicals; pet care ingredients 109 2019 SALES: $111.8M €99.6M Services: R&D solutions; product develop- TILLEY CHEMICAL ment; technical support; dedicated custom- 107 2019 SALES: $113.2M Paris, France er service representatives; blending; repack- www.unipex.com aging; logistics solutions; regulatory team; Baltimore, Maryland, US President: Patrice Barthelmes sample inventory; multi-language personnel www.tilleychem.com Products: Active & functional personal care Assets: Eight total distribution locations President: John Tilley ingredients; active pharmaceutical ingredi- throughout the US and Canada (seven in US, Products: Food ingredients; pharmaceu- ents (APIs) and excipients; enzymes; amino one in Canada) tical ingredients; personal care ingredi- acids; lactose; sweeteners; sugar; starch; ’i- ents; HI&I chemicals; ethanol bres; plasticizers; surfactants; additives; sili- TA J AL MULOOK GENERAL Services: Blending; packaging; product cones; titanium dioxide (TiO2); dyes and pig- 111 TRADING formulation ments; sports grounds polymers and resins 2019 SALES: $110.4M Assets: Four warehouses; 28 tank trucks; 15 Services: CSR (Corporate Social Responsi- Dubai, UAE box trucks; 10 straight trucks bility); warehousing; application labs; for- www.tajchem.com mulations; regulatory services; auditing; re- CEO and chairman: Irfan Siddique Mulla PEN PET PETROCHEMICAL conditioning Products: Polyurethane chemicals (TDI, MDI, 108 TRADING Assets: Two owned warehouses in the Paris polyols); lubricant additives (PPD, TBM, ZDDP, 2019 SALES: $112.8M €100.5M area base oils); paints, inks and coatings; con- Hamburg, Germany Trading sales: 6% struction chemicals; oil and gas chemicas; www.penpet.com solvents; PU machinery; fabrics General managers: Tim Meister, Christoph E S SENTIAL INGREDIENTS Services: Blending; repackaging; local ware- Meister 110 2019 SALES: $111.6M housing; technical support; supply chain Products: Oxo-alcohols; melamine; sol- management; just-in-time delivery; inventory vents; plasticizers Atlanta, Georgia, US management

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Latin America chemical distribution leaders (2019 sales) Company Sales ($m) Company Sales ($m) Company Sales ($m) 1 Brenntag 959.0 26 Selectchemie 25.0 50 Arkem Kimya 3.0 2 Tricon Energy 706.1 27 Ravago Chemicals 22.5 51 Norkem Holdings 2.8 3 Manuchar 688.0 28 Brisco 22.2 52 Transmare Chemie 2.8 4 GTM Holdings 628.0 29 Sulatlantica Importadora E 22.0 53 Solventis 2.6 5 Univar Solutions 455.1 Exportadora 54 Wistema 2.6 6 Anastacio 364.0 30 ECEM European Chemical 21.7 55 Penpet Petrochemical 2.2 Marketing 7 Pochteca Materias Primas 329.3 Trading 31 TZ Group 20.9 8 MCassab 294.1 56 Hawkins 2.0 32 Petrochem Middle East 15.0 9 Snetor 285.0 57 Barcelonesa de Drogas Y 1.7 33 The Chemical Company 14.5 Productos Quimicos 10 Quimtia 283.0 34 Nesstra Services 14.4 58 SMA Collaboratives 1.6 11 Bandeirante Química 213.8 35 CellMark 14.4 59 Metafrax Trading 1.5 12 Jebsen & Jessen Group 192.0 36 DutCH2 12.5 International 13 Indukern 163.8 37 Sinochem Plastics 12.0 60 Ketsin de Costa Rica 1.4 14 Metachem Industrial E 72.1 61 Lavollee 1.3 Comercial 38 Wego Chemical Group 11.8 62 Arpadis Benelux 1.1 15 Biesterfeld 56.1 39 Joss Elastomers & Chemicals 10.1 63 Atlantic Chemicals Trading 1.1 16 Omya 52.7 40 DAXX 10.0 41 Clariquimica 8.1 64 Lehmann & Voss & Co./ 1.1 17 Carbono Quimica 47.0 Lehvoss Group 42 Shamrock Shipping & Trading 6.5 18 Barentz International 41.9 65 Same Chemicals 1.1 19 ICC Chemical 41.8 43 Marubeni Specialty 5.8 Chemicals 66 Eigenmann & Veronelli 1.1 20 Henry Hirschen 40.0 44 RIcardo Molina Group 5.7 67 Astro Chemicals 1.0 21 Quelaris Internacional 36.9 45 Quimidroga 5.6 68 Grupo RNM 1.0 22 Kolmar Group 33.5 46 Bufa Chemikalien 5.0 69 Harwick Standard 1.0 23 Skystep Trading 33.3 Distribution 47 Van Horn, Metz 5.0 24 Morais de Castro Produtos 32.3 70 PHT International 1.0 Químicos 48 Prakash Chemicals 4.4 International 71 Rahn Group 1.0 25 Echemi Group 26.4 49 2M Holdings 3.4 72 Valudor Products 1.0 NOTE: Sales are by region and may differ from the total sales ‡igure in the main Top 100 listing. Table excludes companies that do not break out sales by geography

Assets: Extensive marketing network in GCC Products: Acids; amines; antioxidants; bioc- CLEARTE CH INDUSTRIES and Africa; three warehouses in UAE; three ides; chlorinated para‘ins; corrosion inhibi- 115 2019 SALES: $107M warehouses in Saudi Arabia tors; defoamers; dispersants; esters, emulsi- Trading sales: 40% ‡iers; ethoxylated alcohols; fatty acids; foam Saskatoon, Saskatchewan, Canada control agents; industrial and transportation www.cleartech.ca NEO CHEMICAL lubricant additive components; lubricity ad- President: Randy Bracewell 112 2019 SALES: $109.2M €97.3M ditives; polyalphaole‡ins; primary amino al- Products: Water treatment chemicals; caustic cohols; natural petroleum sulfonates; sur- soda; hydrochloric acid; chlorine; sodium hy- Dzerzhinsk/Moscow, Russia factants; vegetable and animal oils pochlorite; coagulants; ‡locculants; acids; alka- www.neochemical.ru Services: Stocking; packaging and re- lis; sul‡ites; defoamers; activated carbon; phos- CEO: Andrey Lipovetskiy packaging; product sourcing; market de- phates; surfactants; chemical feed systems Director: Vladimir Fedyushkin velopment; technical expertise; lubricant Services: Blending; packaging Products: Epoxy resins, titanium dioxide, testing; logistics; small package to bulk Assets: 10 buildings in seven cities across peroxide compounds, oil additives, food deliveries; ISO9001: 2015 standards; regu- Canada chemistry, polyisobutylenes, silanes, harden- latory support ers, solvents, fuel additives, ‡lame retardants, Assets: 10 warehouse locations in North H.M. ROYAL base oils, hexene 1, raw materials for cosmet- America and Europe; six repackaging facili- 116 2019 SALES: $106.2M ics and household chemicals ties; one testing laboratory Assets: Packaging, storage, shipping, Trenton, New Jersey, US wholesale warehouse AD EKA POLYMER ADDITIVES www.hmroyal.com Trading sales: 50.91% 114 EUROPE President: Joseph E Royal 2019 SALES: $107.0M €95.3M Products: Kevlar aramid pulp; polymers (EPDM, SE A‚LAND CHEMICAL Mulhouse, France SBR, FKM); silicones (LSR, HCR, RTV); rubber to 113 2019 SALES: $108.4M www.adeka-pa.eu substrate bonding adhesives; ‡lame retardants CEO: Tsuyoshi Urushihara (halogen and non-halogen); peroxides; resins Westlake, Ohio, US Products: Polymer additives (hydrocarbon and phenolic); precipitated calci- www.sealandchem.com Services: Masterbatching um carbonate; precipitated silica; zinc oxide; President: Jennifer Altstadt Trading sales: 60% lightweight ‡illers; carbon black; kaolin clay; cal-

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cium carbonate; talc; fumed silica stabilisers; dry liquid concentrates Managing director: Perapol Suwannapasri Services: Marketing; order fulillment; stor- Services: Warehousing; bulk break; logis- Products: Alcohols; aromatics; esters; gly- age; domestic and international logistics tics; storage; import; export; technical sup- cols; gylcol ethers; ketones; monomers; PP Trading sales: 6.5% port; regulatory support and PE Assets: Two company owned and operated Services: Blending; packaging; repackaging; C .H. ERBSLOEH GROUP warehouses; seven public warehouses; one storage; delivery and inventory management 117 2019 SALES: $103.3M €92M truck Assets: Five warehouses and 30 trucks

Krefeld, Germany T HE CHEMICAL COMPANY CHEMSOLV www.cherbsloeh.com 121 2019 SALES: $98.2M 125 2019 SALES: $92M CEO: Christopher Erbsloeh Products: Specialty chemicals for coatings, Jamestown, Rhode Island, US Roanoke, Virginia, US adhesives, construction, lubricants, pharma- www.thechemco.com www.chemsolv.com ceuticals, cosmetics, personal- and home CEO: Robert N Roach, Jr CEO: L Glenn Austin care, rubber, plastics, electronics, water President: Robert N Roach III Products: Acetals solvents; aromatics/ali- treatment, food and beverage Products: Polymer additives; coatings, ad- phatics; isopara ins; alcohols; ketones; es- Services: Technical sales and marketing; appli- hesives, sealants and elastomers (CASE); ters; glycols; heat transfer luids; glycol cation development; analytical testing and qual- lame retardants; silanes; water treatment ethers; pyrrolidones; thinner blends; acryl- ity control; warehousing; regulatory services; chemicals; intermediates; acids ics; lacquers; enamels; lexo ink solvents; supply chain management; after-sales services Services: Global procurement; packaging; amines; ethanolamines; plasticizers; sur- Assets: 11 o ice locations; application and imports; international customs management: factants; acrylates; silicones; surfactants; quality control laboratories; fully owned and EH&S; logistics and rail leet management metal-working luids; oils; process oils and operated warehousing and tank farm Assets: Global network comprised of 41 lubricants; phosphates; caustic soda; caustic sites; Regional o ices in California, US / Co- potash; acids; HP lab reagents; biocides; NOAHS ARK CHEMICALS lombia / Mexico City, Mexico and Nanjing, quats; industrial and FG cleaners; diesel ex- 118 2019 SALES: $103.3M €92M China; 10 storage facilities and 14 railcars; haust luid global warehouses; shore tanks Services: Solvent formulating and blending; London, UK solvent distillation and puriication; laborato- www.noahsark.eu.com STA UB & CO “ SILBERMANN ry services; consulting; product safety and CEO: Bharat Bhardwaj 122 2019 SALES: $96.6M €86M environmental; rail terminal service Products: Solvents; glycols; styrene; ben- Assets: Six warehouses; 40 trucks; 50 trail- zene; acrylates Nuremberg, Germany ers; 1.3m gal bulk storage Services: Blending; storage www.staub-silbermann.de Trading sales: 30% Managing directors: Andreas Frank, Peter KA LE KIMYA Stockmeier 126 2019 SALES: $92M PHT INTERNATIONAL Products: Industrial and specialty chemicals; 119 2019 SALES: $102.2M acids and lyes; solvents; solid chemicals; Kocaeli, Turkey cleaning agents; products for food/feed/phar- www.kalekimya.com Charlotte, North Carolina, US ma/cosmetics; water treatment chemicals; CEO: Birgen Kaleagasi www.phtinternational.com thermal transfer agents; ammonium; AdBlue Products: Detergent additives; disinfectant President and Owner: Lihong Yu Services: Storage; mixing; blending; illing; and protection chemicals; emulsiiers; poly- Products: Pharmaceuticals; agrochemicals; packaging; polymerisation mers; surfactants; pool chemicals; actives consumables; electronic chemicals; person- Assets: Two warehouses; 17 trucks and antioxidants; paints; oils and esters; con- al care ingredients; ibers Trading sales: 30% ditioners; protectives; perfume; silicones; UV Services: Custom manufacturing; in-house ilters; fatty alcohols; adhesives chemical development; quality control and EXTRUPLAST Services: Storage; transport; production; regulatory support; strategic sourcing; logis- 123 2019 SALES: $94.3M €84M blending; packaging tics; sales; marketing; sample generation; Assets: Five warehouses; four trucks; one contract research organisation; import/ex- La Rochelle, France production facility; total 35,000 square me- port services in the US and China www.extruplast.net tres storage; 1,000 tonnes bulk storage Assets: 100% owned Sancus Arc BioChem CEO: Dondainas Gilles Trading sales: 30% manufacturing facility Products: Heating luid; screen washes; en- gine coolants; gasoline; motor oil; solvents MEADEžKING, ROBINSON & CO HA RWICK STANDARD Services: Packaging; blending; storage; re- 127 2019 SALES: $92.0M £69.3M 120 DISTRIBUTION cycling 2019 SALES: $101.9M Assets: Atex illing machine; blowmolding Liverpool, UK Akron, Ohio, US assets www.mkr.co.uk www.harwick.com Trading sales: 1% Managing director: Philip Tarleton CEO: Ernest E Pouttu Products: Oleochemicals; waxes; glycerine; Products: Polymers; rubber chemicals; plas- U NION PETROCHEMICAL epoxy resins; castor oil; malic acid ticizers; process oils; lame retardants; acti- 124 2019 SALES: $94M Services: Storage; blending; repackaging; vators; chemical and color dispersions; pro- warehousing cessing aids; organic peroxides; resins; Bangkok, Thailand Assets: Three warehouses vulcanising agents; colorants; adhesives; www.unionpetrochemical.com Trading sales: 15%

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T ANNER INDUSTRIES MA YS CHEMICAL CEO: Christos Spanos 128 2019 SALES: $90M 132 2019 SALES: $88.6M Products: Polymers; specialty chemicals; or- ganic and inorganic chemicals; pharmaceutical Southampton, PA, US Indianapolis, Indiana, US ingredients; food ingredients; agrochemicals www.tannerind.com www.mayschem.com Services: Packaging; storage President and CEO: Stephen Brad Tanner President: Kristin Mays Corbitt Assets: Eight warehouses Products: Anhydrous and aqua ammonia Products: Acidulants; alkalis; citrates; hu- Trading sales: 6% Services: Safety training; storage tanks; mectants; lavors; glycerine; glycols pump-out services; storage tank repairs and Services: Shipping; warehousing; liquid TRIISO maintenance blending; repackaging; reformulation 136 2019 SALES: $82M Assets: 13 distribution locations; full leet of Assets: Two warehouses; one warehouse/ tractors and trailers blending facility; one freight truck; six liquid Cardiff, California, US tank trucks; 12 forklifts/related equipment www.tri-iso.com TCR INDUSTRIES President: Jason Scott 129 2019 SALES: $90M NESSTRA SERVICES Products: Paints; coatings and ink raw mate- 133 2019 SALES: $88.4M rials; adhesives and sealants ingredients; La Palma, California, US plastics and composites chemicals; lubri- www.tcrindustries.com Slough, UK cants and metalworking additives; polyure- CEO: Sam A Rumfola www.nesstra.com thane chemicals Products: Resins; pigments; additives; CEO: Alwan Hitti Services: Logistics; warehousing personal care ingredients; food ingredi- Products: Polyurethane chemicals (polyol, Assets: One of ice; multiple 3PL service providers ents; pharmaceutical ingredients; nutra- TDI, MDI, additives etc); calcium carbonate; ceuticals caustic soda; glycerine; hexane; hydrogen CO RNELIUS GROUP Services: Storage peroxide; methylene chloride; MPG; sulphu- 137 2019 SALES: $80.3M £60.5M Assets: 10 warehouses ric acid; titanium dioxide; toluene; xylene; plastics (HDPE, LDPE, LLDPE, PVC) Bishops Stortford, UK SKYSTEP TRADING Services: Storage and drumming of bulk www.cornelius.co.uk 130 2019 SALES: $90M chemicals; blending capabilities; technical sup- Chairman: Neville Prior port; supply chain management; maintenance CEO: Darren Spiby Limassol, Cyprus Assets: Polyurethane foam plants; cutting ma- Products: Monomers; specialty chemicals; www.skystep.eu chines and spare parts; construction, mining food ingredients; personal care ingredients; Director: Oksana Spyrou and electrical equipment and consumables; pigments; additives; resins; minerals; sur- Products: Acrylates; oxo-alcohols; sulfur; tanks and warehouse space for storage of bulk factants; adhesive materials; excipients; natu- sodium tripolyphosphate; soda ash; sodium and packaged chemicals in Rotterdam, Neth- ral products; animal feed ingredients; medical sulfate; caustic soda; potassium hydroxide; erlands; warehousing in Durban, South Africa device raw materials; coatings ingredients potassium carbonate; potassium sulfate; Trading sales: 85% Services: Global supply chain management; sodium lignosulphonates; chromium com- laboratory services; logistics; legislative/reg- pounds; acetone; methylene chloride; rub- M ILES CHEMICAL ulatory advice; distillation; chemical reac- bers; phenol; isopropyl alcohol 134 2019 SALES: $84.5M tions and manufacturing; repackaging; R&D; Services: Sales and marketing; inancing; sales and marketing extensive technical and customer support; Arleta, California, US Assets: Nine warehouses; ive laboratories; logistics and documentation; transporta- www.mileschemical.com two manufacturing sites; seven o†ices; one tion and forwarding of dry and tank con- CEO: Michael Miles clean room tainers; bulk shipping; handling and re- Chairman: Anthony Miles packaging; storage and inventory Products: Acids; esters; lubricants; alcohols; IL ARIO ORMEZZANO management lavors and fragrances; plasticizers; food addi- 138 2019 SALES: $79.8M €71.1M Assets: Terminal in Novorossiysk, Russia; tives; polyglycols; amines; glycol ethers; hy- two o†ices in Limassol, Cyprus; 40+ highly- drogen peroxide; solvents; chelating agents; Gaglianico, Italy skilled employees chlor-alkali; inorganics; surfactants; chlorinat- www.ilarioormezzano.it Trading sales: 80% ed solvents; thickening agents; ketones President: Giancarlo Ormezzano Services: Manufacturing; blending; contract Products: Solvents; phenol; acrylates; base CH EM INTERNATIONAL packaging; solvent reclamation; technical chemicals; pharmaceutical intermediates; 131 2019 SALES: $89.9M training; safety training; hazardous waste re- hydrocarbons moval; customer product research Services: Storage of liquid and solid prod- Warsaw, Poland Assets: Total bulk storage capacity of ucts; storage for third parties; blending; cus- www.chem-international.pl 180,000 gal; total warehouse space of tomized handling (packaging, mixing, illing CEO: Cezary Mielczarek; Board member: 280,000 square feet; 30 trailers; 32 railcars; and labelling); quality control; technical af- Pawel Tomaszkiewicz 21 tankers: six Bobtails ter-sales support; REACH support Products: VAM; styrene monomer; IPA; BA; Assets: Two owned warehouses with a total phenol; glycols; solvents; anhydrides; poly- AEGEAN FIRST COMPANY of 85,000 square metres and storage capac- mers; EPS; caustic soda 135 ”AFCO• ity for liquid products of more than 7,000 Services: Logistics support; intermodal so- 2019 SALES: $82M cubic metres; one rented warehouse; three lutions; storage; customised services and Athens, Greece o†ices; two laboratories; ive trucks solutions; technical support www.afco.gr Trading sales: 20%

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CHEMICALS • POLYMERS Chemistry Connects Us

CHEM INTERNATIONAL GROUP

CHEM INTERNATIONAL GROUP

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GEOR GE S. COYNE CHEMICAL www.calchem.com nine warehouses; company owned and 139 2019 SALES: $79.6M President: Gregory D Shetler operated Œleet of 12 trucks; tank farm; two Products: Coatings, adhesives, sealants and regional o“ices Croydon, Pennsylvania, US elastomers (CASE); household, institutional www.coynechemical.com and industrial chemicals; pharmaceutical/ A U G. HEDINGER President and CEO: Thomas H Coyne Sr nutraceutical ingredients; personal care/cos- 143 2019 SALES: $75.2M €67.0M Products: Acids; alcohols; amines; metics ingredients; food ingredients; func- chelating agents; chlor-alkai; chlorinated tional Œluids Stuttgart, Germany solvents; food additives; glycol ethers; Services: Bulk liquids packaging; custom www.hedinger.de hydrogen peroxide; inorganics; ketones; blending; returnable containers, drums and Managing director: Johann-Ludwig Raiser polymers; specialty quats; surfactants; totes; customised tote programmes; cus- Products: Raw materials for technical in- potable and wastewater treatment tom labelling; remote tank monitoring; ven- dustries such as coatings/paints, lubricants, chemicals dor managed inventory; consignment in- cleaning, adhesives, construction; starting Services: Blending; technical training; con- ventory; committed inventory to forecast; materials and APIs for the life sciences in- tract packaging (both dry and liquid); termi- mixed truckload deliveries; LTL quantities; dustry nal rail to truck transloading JIT deliveries Services: Customised additional test Assets: Over 300,000 square feet of stor- Assets: Two dedicated white rooms for methods and processes; laboratory test- age in six warehouses; 27 trucks and over 50 NF, FCC, USP and Kosher packaging; ing and batch certiŒication (GMP labs); trailers or tankers; over 250,000 gal bulk 5,000 square feet of temperature con- pharmacopoeia standards (EP, USP, JP, CP, storage trolled (hot/cold) warehousing; 400,000 IP, etc); extended speciŒications; blend- Trading sales: Less than 5% square feet of environmentally controlled ing; labelling; packaging; storage; repack- warehousing; 90,000 gal bulk storage; aging in 8 cleanrooms (class ISO 5) SKYHAWK CHEMICALS 140 2019 SALES: $78.8M Europe chemical distribution leaders (2019 sales) Houston, Texas, US Company Sales ($m) Company Sales ($m) www.skyhawkchemicals.com 1 Brenntag* 5,880.4 32 Norkem Holdings 207.9 President: Jill Knickerbocker 2 Univar Solutions* 1,785.5 33 Sinochem Plastics 205.0 Products: Caustic soda; methanol; calcium chloride; sulfuric acid; anhydrous ammonia; 3 Tricon Energy 1,566.9 34 ChemPartners 202.2 aqua ammonia; KOH; urea; propylene gly- 4 IMCD* 1,534.7 35 Bufa Chemikalien 200.0 col; hydrochloric acid; xylene; bleach; 5 Stockmeier Holding 1,397.8 36 Tennants Distribution 199.0 polyphosphoric acid; benzoic acid; ethyl- 6 Biesterfeld 1,284.4 37 Grupo RNM 195.1 ene glycol 7 Barentz International 1,222.8 38 Gamma Chimica 194.8 Services: Blending; packaging; storage 8 AZELIS 1,081.2 39 Bang & Bonsomer 193.1 Assets: 275 gal and 330 gal totes 9 Kolmar Group 895.8 40 Thommen-Furler 187.0 10 OQEMA 881.3 41 Solventis 183.1 PRAKA SH CHEMICALS 141 INTERNATIONAL 11 Omya 874.1 42 Haeffner 168.0 2019 SALES: $78.1M 12 Quimidroga 867.8 43 Snetor 161.0 Vadodara, Gujarat, India 13 TER Group 767.9 44 Nortex 160.9 www.pciplindia.com 14 Caldic 707.3 45 Metafrax Trading 159.6 Managing director: Manish K Shah 15 Solvadis Group 635.8 International Products: Caustic soda Œlakes; TDI; caustic 16 SaŒic-Alcan 631.0 46 2M Holdings 153.6 soda prills; benzyl alcohol; ethyl acetate; so- 17 Ravago Chemicals 482.8 47 Harke Group 151.0 dium sulphate anhydrous; cinnamic aldeh- 48 Elton Group 149.3 dye; acetone; SLES; chlorinated para“in 18 Nordmann, Rassmann 449.1 49 Grolman Group 148.2 wax; benzyl chloride; citric acid; liquid glu- 19 Eigenmann & Veronelli 419.1 cose; DEP; dextrose monohydrate; hydro- 20 Lehmann & Voss & Co./ 397.4 50 Connect Chemicals 143.0 chloric acid; white oil Lehvoss Group 51 Keyser & Mackay 141.5 Services: Blending; packaging; storage; la- 21 DKSH Holding 310.0 52 Selectchemie 140.0 belling; logistics supply chain service ex- 22 KTM 277.1 53 URAI 135.0 works to DDP; quality assurance; inspec- 23 ICC Chemical 271.8 54 CellMark 133.6 tion; country speciŒic documents 24 Krahn Chemie 253.7 55 Petrochem Middle East 133.0 compliance; Reach Registration, FAMI-QS 25 Jebsen & Jessen Group 252.6 56 Atlantic Chemicals Trading 129.1 certiŒication 26 Indukern 233.4 57 Tillmanns 125.7 Assets: Two manufacturing plants; two warehouses; three subsidiaries outside 27 HSH Chemie 224.5 58 IMPAG 123.5 India 28 Arkem Kimya 224.0 59 CSC Jaeklechemie 123.5 29 ECEM European Chemical 219.2 60 Barcelonesa de Drogas Y 120.1 C ALLAHAN CHEMICAL Marketing Productos Quimicos 142 2019 SALES: $75.3M 30 United Trading System 218.0 61 Algol Chemicals 118.1 31 Donauchem 215.6 62 Faravelli 117.8 Palmyra, New Jersey, US

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Assets: Eight warehouses; 16 trucks (¨ive tailor-made packaging solutions Muskegon Heights, Michigan, US dedicated tank trucks) Assets: Local technical salesforce (11 o¬ices www.webbchemical.com worldwide); sourcing team CEO: Brad Hilleary NO VASOL CHEMICALS GROUP President: Charlie Stevens 144 2019 SALES: $75M CHEMI CAL SOLVENTS Products: HI&I chemicals; metal ¨inishing 145 2019 SALES: $75M chemicals; pharmaceutical ingredients; ag Kraainem, Belgium chemicals; water and wastewater chemicals; www.Novasolchemicals.com Cleveland, Ohio, US food ingredients; CASE; auto chemicals; in- CEO: Claude Fickers; Global Business Direc- www.chemicalsolvents.com vestment casting tor: Francois-Xavier Coiffard Owner: Ed Pavlish Services: Blending; packaging; storage; Products: Pharmaceutical and agrochemi- Products: Aromatics; aliphatics; ethanola- VMI; 20 drivers; own ¨leet cals intermediates; carbonates; additives; mines; purge solvents; acetates; silicones; plas- Assets: Six warehouses; 40+ tankers; 15+ DAAM/ADH, EMA, GMA; acrylates; meth- ticizers; organic solvents; oil and gas chemicals; semi box trucks; 28 bulk tanks acrylates; sulfolane; hydroxy chemicals; water chlorinated solvents; THF; NPB; cyclohexanone treatment chemicals; trimercaptotriazine; Services: Custom blending; toll blending; WILL & CO personal care chemicals; active ingredients; hazardous and non-hazardous waste han- 147 2019 SALES: $74.1M €66M extracts and botanicals; clays; oils and but- dling; storage; packaging ters; emollients; emulsi¨iers; preservatives; Assets: Four warehouses; 2m gal storage tanks Badhoevedorp, Netherlands rheology modi¨iers; UV ¨ilters; conditioners; www.will-co.nl surfactants; humectants; polymers; solvents WEBB CHEMICAL SERVICE Managing director: Jacques van Lindonk Services: REACH lead registrant of many 146 2019 SALES: $75M Products: 1,4-butanediol and derivatives (THF, molecules; product mixing and blending; GBL); plasticizers and ¨lame retardants; pig-

Europe chemical distribution leaders (2019 sales) Company Sales ($m) Company Sales ($m) Company Sales ($m) 63 ProChema 115.0 93 Novasol Chemicals Group 54.0 120 The White Sea & Baltic 19.6 64 Arpadis Benelux 106.7 94 Ricardo Molina Group 52.2 Company 65 Unipex 104.1 95 Solvachem 52.1 121 Comindex 19.0 66 C.H. Erbsloeh Group 102.5 96 Echemi Group 51.2 122 Biachem 19.0 67 Quimdis 97.7 97 Emsa Tecnologia Quimica 50.5 123 Klaus F. Meyer 17.9 68 Rakha Al Khaleej 97.0 98 UCG (United Chemical 49.9 124 Kemat 17.1 International Group) 125 CFI World 15.8 69 Staub & Co – Silbermann 96.6 99 National Chemical 48.7 126 DutCH2 15.7 70 Wego Chemical Group 96.5 100 Sinpro 44.9 127 Tecnosintesi 13.0 71 Penpet Petrochemical 94.9 101 Jobachem 41.1 128 Stort Chemicals 12.2 Trading 102 A. + E. Fischer-Chemie 40.4 129 Prakash Chemicals 11.1 72 Extruplast 94.3 103 Same Chemicals 39.9 International 73 Noahs Ark Chemicals 93.0 104 SIP Speciality Oils and 37.1 130 CB Chemie 10.0 74 Meade-King, Robinson 91.3 Fluids 131 Abbey Chemicals 9.2 75 Chem International 89.9 105 Drogas Vigo Group 36.0 132 Skystep Trading 8.0 76 Bodo Moeller Chemie 88.6 106 Wistema 34.1 133 Quimica MER 6.1 77 Manuchar 87.0 107 Joss Elastomers & 33.7 134 Shamrock Shipping & 4.9 78 Rahn Group 87.0 Chemicals Trading 79 Neo Chemical 85.0 108 Brugues 33.1 135 Petrico 4.2 80 Aegean First Company 82.0 109 GB-Chemie 29.8 136 Transmare Chemie 4.2 (AFCO) 110 Equilex 29.8 137 Quimtia 4.0 81 Ilario Ormezzano 79.8 111 Castle Chemicals 29.6 139 The Chemical Company 3.9 82 Cornelius Group 73.2 112 Lumar Quimica 26.9 140 Van Horn, Metz 2.0 83 Behn Meyer Group 71.9 113 Barrettine Group 26.5 141 Marubeni Specialty 1.8 84 Will & Co 71.1 114 Lake Chemicals and 24.7 Chemicals 85 Adeka Polymer Additives 70.9 Minerals 142 Sea-Land Chemical 1.7 86 MOGoil 67.4 115 Sameca 24.7 143 SMA Collaboratives 1.6 87 Aug. Hedinger 61.5 116 Kadion Especialidades 24.5 144 Hawkins 1.5 Quimicas 88 Airedale Chemical 60.4 145 Mays Chemical 1.0 117 Monarch Chemicals 23.1 89 Kale Kimya 58.0 146 Astro Chemicals 1.0 118 Antonio Tarazona (industrial 22.5 90 Lavollee 56.1 division) *EMEA = Europe, Middle East & Africa 91 Proquibasa 56.1 119 WhitChem 21.2 NOTE: Sales are by region and may differ from the total 92 PHT International 55.7 sales ¨igure in the main Top 100 listing. Table excludes companies that do not break out sales by geography

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ments; proteins; cosmetic and personal care oils; lame retardants; coating additives; feed cals; adhesives; activated carbon; water ingredients; coating resins and additives; bio- additives; chemical intermediates; vegetable treatment chemicals; wastewater treatment based solvents and binders; impact modiiers nutrition additives; electroplating chemicals; chemicals; mineral oils and petrolatums; ac- for plastics; foaming agents for plastics; addi- lubricant additives; dimer acid etates; heat transfer luids; alcohols; citrates; tive masterbatches; sulfamic acid; ferric chlo- Services: Storage; logistics phosphates; silicates ride; engineering plastics and compounds Assets: Five warehouses; one head o ice Services: Blending; packaging; storage; Services: Storage management; logistics; logistics sales and marketing MAHA CHEMICALS Assets: Two warehouses; 12 trucks; ive tank- Trading sales: 90% 150 2019 SALES: $71M ers; 12 12,500 gallon storage tanks; 10 posi- tions for rail unloading JO SS ELASTOMERS Singapore 148 & CHEMICALS www.mahachem.com M OGOIL 2019 SALES: $73.0M €65M Chairman: Tan Seow Hoon 152 2019 SALES: $67.4M €60M Alkmaar, Netherlands Products: carbon black, construction mate- www.joss.nl rial chemicals, resin, polymer, emulsion, ad- Berlin, Germany CEOs: Robert Slinger, Arnold Hofman, ditives, functional illers, pigments, color- www.mogoil.com Bart ten Klei ants, biocides, surfactants, analytical General director: Andreas Rogge Products: Synthetic rubber; natural rubber; instruments, lab equipment and machines Products: Base oils; process oils; solvents process oils; silica; carbon black Services: sales, marketing, distribution, Services: Trading; storage; customs clear- Services: Warehousing; trucking; shipping; warehouse storage, logistic, packaging ance; technical support; inancing repackaging big bags and small bags Assets: 14 warehouses, 15 trucks Trading sales: 30% Trading sales: 60% A S TRO CHEMICALS RICARDO MOLINA GROUP METACHEM 151 2019 SALES: $70M 153 2019 SALES: $67.1M €59.8M 149 2019 SALES: $72.1M SpringŠield, Massachusetts, US Barcelona, Spain Sao Paulo, Brazil www.astrochemicals.com www.ricardomolina.com www.metachem.com.br President: Chris Diamond President: Gemma Molina President: Ricardo do Rego Freitas Products: Solvents; chlor-alkali; pharmaceu- Products: Specialty chemicals for coatings, Products: Food ingredients; base mineral tical-grade chemicals; food-grade chemi- building, adhesives, construction, lubricants,

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pharmaceutical, cosmetics, personal- and GREEN CHEM INDUSTRIES spur; 60,000 square feet of warehouse home care, rubber, plastics, water treatment, 155 2019 SALES: $64.5M space; bulk tanker ­leet food and beverage, agro chemicals Services: Technical sales and marketing, ap- West Palm Beach, Florida, US PROQUIBASA plication development, quality, warehousing, www.greenchemindustries.com 157 2019 SALES: $61.7M €55M regulatory services, supply chain manage- CEO: John Lagae ment, after sales services, repacking Products: Acetates; acids; acrylates; alco- Barcelona, Spain Assets: Three labs, one warehouse hols; amines; aromatics; chlorinated sol- www.proquibasa.com vents; ketones; glycerine; glycols; glycol CEO: Ivan Sanchez CONNE CTION CHEMICAL ethers; nonyl phenol ethoxylates; phtha- Products: Specialty and commodity chemi- 154 2019 SALES: $66.5M lates; plasticizers; PCBTF; DMC; THF; d-li- cals; coatings, construction and adhesives monene materials; pigments and performance prod- Newtown, Pennsylvania Services: Logistics; warehousing; import/ ucts; water treatment chemicals; household www.connectionchemical.com export; small packaging and industrial cleaning chemicals; lubricants President: Frank Farish Assets: 35 public warehouses and metalworking ­luids Products: Caustic soda (liquid and dry); Services: Technical service; blending; manu- caustic potash (liquid and dry); industrial CHEMISPHERE facturing; toll manufacturing; bulk loading and institutional chemicals; compounding 156 2019 SALES: $63M and storage; warehousing chemicals; agricultural products; water Assets: Full service and wholly-owned facili- treatment chemicals; food and beverage in- St Louis, Missouri, US ties in Barcelona with tank farm (100 tanks) gredients; feed ingredients; pulp and paper www.chemispherecorp.com and 7,000 square metre warehouse; regional chemicals; oil and gas chemicals; metal ­in- President: Matthew Schwent hub in Madrid with tank farm (25 tanks) and ishing and ­lux chemicals; phosphates; min- Products: Beverage grade ethanol; dena- 2,000 square metre warehouse eral acids tured ethanol; aliphatic solvents; alcohols; Services: Logistics; importing; inventory aromatics; ketones; glycol ethers LAVOLLEE management; supply chain solutions; re- Services: Toll manufacturing; custom blend- 158 2019 SALES: $61.7M €55M packaging; dilutions; blending; outsourcing ing; packaging; USP packaging; storage; rail- Assets: 12 stocking locations in the US; stra- car transloading Levallois, France tegic deep draft storage Assets: 1.4m gal tank farm storage; 14 car rail www.lavollee.com

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President: Herve Lavollee ics; surfactants; minerals; additives; polymers oils; additives; glycols; waxes; white oils; re- Products: Specialty chemicals for coatings, Services: Blending; packaging; storage cycled oils; RPO (rubber process oils); petro- plastics, lubricants, metal working, water Assets: Four warehouses latum; bitumen; antifreeze; lithium hydroxide treatment; ingredients for F&F, pharmaceuti- monohydrate; hydrogenated castor oil cals, food, personal care AIRED ALE CHEMICAL Services: Supply chain and logistics; Šinanc- Services: Storage; repackaging; VMI; out- 161 2019 SALES: $61.0M £46M ing and trade Šinance; Šlexitank loading; mar- sourcing ket intelligence; storage; trans-shipment Assets: Two labs (food and cosmetics) North Yorkshire, UK Assets: O˜ices in Cyprus and UAE www.airedalechemical.com SOLVCHEM Managing director: Chris Chadwick ROWELL CHEMICAL 159 2019 SALES: $61.6M Products: Phosphoric acid; peracetic acid; 163 2019 SALES: $58M hydrogen peroxide; acetic acid; caustic Pearland, Texas, US soda; manganese nitrate; polyaluminium Hinsdale, IL, US www.solvchem.com chloride; diammonium phosphate; sulphuric www.rowellchemical.com President and CEO: Jean-Pierre Baizan acid; sodium hexametaphosphate (SHMP); President Tom Harris Products: Solvents; organic and inorganic phosphates; phosphonates; antifoams; Products: Caustic soda (sodium hydroxide); chemicals; epoxies; silicones; silicone emul- water treatment chemicals; cleaning and de- bleach (sodium hypochlorite); hydrochloric sions; hydrocarbon resins; hydroxyl ethyl cel- tergent chemicals acid; sulfuric acid; caustic potash (potassium lulose; titanium dioxide; acrylates Services: Contract manufacturing; small pack hydroxide) Services: Custom packaging; custom chemical production; waste management Services: Storage terminal blending; toll manufacturing; container man- Assets: Four acre production and storage Assets: One warehouse (Willow Springs, IL); agement programmes; export services; facility; nine warehouse locations; 20 fully 10 trucks (Rowell owned Šleet) technical support; green chemistry product owned trucks; R&D/QC laboratories solutions; small container Šilling Trading sales: 5% BR AINERD CHEMICAL Assets: Nine trucks; 24 trailers; 15 tankers 164 2019 SALES: $58M SH AMROCK SHIPPING EMSA TECNOLOGIA QUIMICA 162 & TRADING Tulsa, Oklahoma, US 160 2019 SALES: $61.2M €54.5M 2019 SALES: $60.9M www.brainerdchemical.com Limassol, Cyprus CEO: Mathew A Brainerd Barcelona, Spain www.shamrockoils.com Products: Peracetic acid; hydroŠluoric acid; www.emsaquimica.com Managing director: Sergey Galin sulfuric acid; nitric acid; refrigerants; aromat- CEO: Jorge Grima Products: Base oils (Group I, II, III); polyal- ics; aliphatics; glycols; glycol ethers; high Products: Pigments; Šillers; binders; inorgan- phaoleŠins; naphthenic oils; re-reŠined base hazard acids; chlor-alkali; alcohols; formalde-

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hyde; food processing sanitation chemicals; www.trichemicals.com N ATIONAL CHEMICAL water treatment chemicals CEO and owner: Megan E Gluth-Bohan 172 2019 SALES: $49M Services: Packaging; blending; manufactur- Products: Industrial, specialty, and ‚ine ing/engineering services; contract packag- chemicals for paints, coatings, adhesives, Dublin, Ireland ing; toll manufacturing; logistics; warehous- sealants, inks and dyes, polymers, compos- www.ncc.ie ing; transloading ites and construction, metal-working, tex- CEO: Alan Looney Assets: Four production locations in Okla- tiles, lubricants, household and industrial Products: Full range of chemicals, food in- homa, North Carolina, and Illinois; tank ter- cleaning, water treatment, oil and gas, food gredients and performance polymers minals; rail terminals; extensive company and beverage, feed and agriculture, phar- Services: NCC offer supply chain solutions owned ‚leet of trucks and trailers, and bulk maceutical, cosmetics and personal care from supply chain risk assessment, sourcing, tankers products accreditation, regulatory support, logistics Services: Marketing; logistics; technical ser- and supply WALS H & ASSOCIATES vices; custom manufacturing; blending; con- Assets: ISO13485 cleanroom medical com- 165 2019 SALES: $56M tract packaging pounding plant via JV Innovative Polymer Trading sales: 30% Compounds (IPC) Saint Louis, Missouri, US Trading sales: 70% www.walsh-assoc.com TARR President and CEO: Ellen M Murphy 169 2019 SALES: $51M MCCU LLOUGH & ASSOCIATES Products: Raw materials for CASE, HI&I, inks, 173 2019 SALES: $48.7M personal care, oil and gas, chemicals, agri- Portland, Oregon, US culture, food and beverage, pharmaceuti- www.tarrllc.com Atlanta, Georgia, US cals, plastics, green chemistry President: Skip Tarr www.mccanda.com Services: Manufacturing; blending; contract Products: High-purity chemicals, solvents, President: George McCullough packaging; technical training; IFS certi‚ied aromatics, ethanol Products: Organic and inorganic pigments; warehousing Services: Blending, packaging, storage, dispersions; wax additives; fumed silica; car- Assets: Eight warehouse locations; 30m gal formulating bon black; clays; specialty additives; matting liquid bulk storage; 1 tractor trailer Assets: Four warehouses, six class 100 agents; laboratory equipment; mixers; tanks; Clean Rooms, 870,000 gal bulk storage, cast urethane systems; polyurethane disper- BU CKLEY OIL three rail spurs, 11 trucks sions; hydrocarbon resins; silicone disper- 166 2019 SALES: $55.5M Trading sales: 0% sions Services: Storage and logistics; formulation Midlothian, Texas, US VALUDOR PRODUCTS assistance; technical service; process engi- www.buckleyoil.com 170 2019 SALES: $50M neering services President: Robert Rice Assets: Outside bonded chemical ware- Products: Solvents; alcohols; aliphatics; aro- San Diego, CA, US house matics; glycols; glycol ethers; ketones; base www.valudor.com oils; ‚inished lubricants CEO: John Tree CARBONO QUIMICA Services: Blending; packaging; toll blend- Products: Agriculture/animal feed micro- 174 2019 SALES: $47M ing; storage; delivery; custom packaging; nutrients; fertilizer ingredients; acids; inor- transloading ganics; organic certi‚ication; industrial ap- Sao Bernardo do Campo, Sao Paulo, Brazil Assets: Four warehouses; 20 trucks plications; coatings; oil & gas; water www.carbono.com.br Trading sales: 5%+ treatment President: Vera Maria Miraglia Gabriel Services: Sourcing; distribution; storage; Products: Aliphatic solvents; aromatic sol- SOLVACHEM dry and liquid blending; product develop- vents; oxygenated solvents; epoxy resins; 167 2019 SALES: $52.1M €46.4M ment; new product innovation epoxy hardeners; coatings additives; paint Assets: 16 warehouses; national distribution; driers; alkyd resins; pigments; glycerine; Wroclaw, Poland regional oœices fatty acids; fatty alcohols www.solvachem.pl Trading sales: 0% Services: Blending; packaging; bulk stor- CEO: Elisabeth Luerenbaum age; laboratory services Products: Methanol; UCO and vegetable UC G •UNITED CHEMICAL Assets: Five subsidiary branches; 10 trucks oils; alcohols and other solvents; regenerat- 171 GROUP– ed solvents; polymers; base oils; aerosols; 2019 SALES: $49.9M WISTEMA inorganic chemicals; washing agents and Moscow, Russia 175 2019 SALES: $46.1M €41.0M disinfectants; ‚illers and additives; colour- www.ucgrus.com ants; oils and greases Chairman & CEO: Gennadiy Tolstobrov Dielheim, Germany Assets: One methanol tank; ‚ive warehouses; Products: ABS; ASA; SAN; HIPS; PC/ABS; www.wistema.de two customs warehouses; production facili- PBT; PMMA; PC; POM; SBS; SEBS; SIS; POE; Owner and managing director: ties (UCO, washing agents and disinfectants) EVA; HDPE; PPcopo; PA&AIM; road construc- Winfried Friedel Trading sales: 10% tion materials; oil additives and modi‚iers; Products: Catalysts; chemical intermedi- base oils; fertilizers; liquid chemicals ates; cosmetics ingredients; toiletries and TRINTERNATIONAL Services: Distribution; logistics; packaging; personal care ingredients; food ingredients; 168 2019 SALES: $51.3M storage; technical support industrial chemicals; pharmaceutical ingre- Assets: Eight oœices, nine warehouses dients; plastic additives; polymers; repro- Seattle, Washington, US Trading sales: 3% graphic chemicals/ink chemicals; solvents/

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distilled solvents; water treatment chemi- www.cdibuffalo.com Warminster, Pennsylvania, US cals; waxes President: Mark T Russell www.gehring-montgomery.com Services: Contract and toll manufacture; Products: Acids; alkalis; food grade ingredi- www.trexanchemicals.com storage; waste management (waste disposal ents; reagent grade chemicals; solvents CEO: Mark S Bitting certiied); salvage recovery and resale; Services: Blending; packaging; storage; Products: Resins; additives; waxes; metal- REACH consultation laboratory testing working additives; food additives; industrial Assets: Three warehouses Assets: 12 trucks; 10 tankers; 114,000 square chemicals Trading sales: 60% feet warehousing Services: Blending; repackaging; technical consultation; warehouse storage CHEM ONE SINPRO Assets: Five trucks; eight trailers 176 2019 SALES: $45.9M 180 2019 SALES: $44.9M €40M Trading sales: 10%

Houston, Texas, US Lausanne, Switzerland A .+E. FISCHER¤CHEMIE www.chemone.com www.sinprosa.ch 184 2019 SALES: $42.1M €37.5M CEO: Terry Podlogar CEO: Alfred Frankel Products: Feed additives; fertilizer ingredi- Products: Industrial chemicals; resins; poly- Wiesbaden, Germany ents; water treatment chemicals; food addi- esters; pharmaceutical ingredients; con- www.¥ischer-chemie.de tives; industrial chemicals struction chemicals; paints; inks; food and General manager: Manuel Fischer-Bothof Services: JIT inventory; pallet quantities; feed additives; pharmaceuticals; raw materi- Products: Caustic soda; solvents; hydrochloric truckloads als for food and feed acid; citric acid; urea; phosphoric acid; matting Assets: Houston, Texas, headquarters and Services: Associated with a forwarding agents; pyrogenic silicon dioxide; precipitated warehouse; independent facilities in Laredo, agent silica; silicone oil; glycerine; caustic potash; so- Texas and Tampa, Florida Trading sales: 50% dium bicarbonate; hydrogen peroxide; acti- vated carbon; sodium persulfate EQUILEX C OAST SOUTHWEST Services: Storage; packaging; mixing; ex- 177 2019 SALES: $45.8M €40.8M 181 2019 SALES: $44M porting Assets: Four warehouses for solid and liquid Schiedam, Netherlands Placentia, California, US products; 16 trucks www.equilex.com www.coastsouthwest.com Trading sales: 10% CEO: Cees Verdel President: Joseph C Cimo Products: Higher oleins; alkylphenols; Products: Surfactants; silicones; personal care VEN US CHEMICALS GROUP alkylbenzenes; ethanolamines; ethylene ingredients; preservatives; oleochemicals 185 2019 SALES: $42M glycols; solvents (MEK, MIBK, hexane, Services: Liquid blending; liquid bulk; stor- MIBC, IPA, acetone, cyclohexanone); per- age; drumming; formulating Cairo, Egypt formance intermediates (AMS, maleic and Assets: Seven locations; six trucks; applica- www.venukim.com phthalic anhydrides, DCPD); phenol; aro- tions laboratory CEO: Ahmed Alghoul matics; tackifying resins; isophorone; diac- Products: Fragrances; surfactants; solvents; etone alcohol IDE AL CHEMICAL & SUPPLY pine oil; gum rosin; gum base; maleic resin; Services: Marketing; storage; packaging; 182 2019 SALES: $43.5M glycerine; solvents Sea, rail and road transportation; custom for- Services: Packaging fragrances malities; Reach regulation Memphis, Tennessee, US Assets: 10 jumbo cars; ive warehouses Trading sales: 15% www.idealchemical.com Trading sales: 60% President: Sam Block Jr JOBACHEM Products: Acids; alcohols; amines; chelating SA ME CHEMICALS 178 2019 SALES: $45.1M agents; chlor alkali; food ingredients; glycol 186 2019 SALES: $41.0M €36.5M ethers; hydrogen peroxide; inorganics; ke- Dassel, Germany tones; personal care ingredients; polygly- Barendrecht, Netherlands www.jobachem.com cols; solvents; textile care ingredients; water www.samechemicals.com CEO: Julian Kahl treatment chemicals Managing director: Cees-Jan Crezee Products: Aluminum chloride; lavours and Services: Wholesale custom blending and Products: Acetates; alcohols; aromatics; fragrances; plasticizers; UV/EB curing packaging (dry and liquid); in-house QC and DCPD; glycols; hydrocarbons; ketones; styrene agents; monomers; oligomers; photoinitia- R&D labs; LTL and truckload quantities; sin- Services: Bulk distribution; salvage trading; tors; specialty chemicals; UV ilters; mixtures gle- and multi-compartment tanker deliver- recycling; logistics; storage; inventory man- Services: Blending; repackaging; storage; ies; local warehousing and logistics; returna- agement; consignment stock; marketing; logistics; bonded warehousing; heating; re- ble and one-way containers; remote tank sourcing; Reach consultation illing; customs clearance monitoring Assets: O¢ices in the Netherlands, Denmark, Assets: Three warehouses worldwide; four Assets: Warehouses at four locations with Poland and Spain subsidiaries worldwide combined 170,000 square feet of space; 1m Trading sales: 10% gal liquid bulk storage; distilled spirits plant VIVION (DSP); 15 tractors; 23 trailers; six tankers 187 2019 SALES: $41M CHEMICAL DISTRIBUTORS 179 INC ŽBUFFALO, NY“ GEHR ING MONTGOMERYŸ San Carlos, California, US 2019 SALES: $45M 183 TREXAN CHEMICALS www.vivioninc.com Buffalo, New York, US 2019 SALES: $43M President: Michael Poleselli

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Products: Acidulants; sweeteners; humec- www.hirschen.com.ar cals; janitorial and sanitation chemicals; in- tants; preservatives; chelants; hydrocol- President: Miguel Hirschen dustrial specialty chemicals; winter ice melt- loids; surfactants; vegetable oils; antifoams; Products: Glycols; surfactants; amines; bio- ing products tableting aids; micronutrients; vitamins; cides; solvents; inorganics; food ingredients; Services: Manufacturing – blending and minerals pharmaceutical ingredients; oil/gas special- compounding; logistics Services: Formulation assistance ties; colourants Assets: Three warehouses in Ontario, Que- Assets: Five warehouses Services: Storage; packaging; blending; bec, British Columbia trading; same day deliveries; inancing; tai- DUTCH2 lor-made solutions to customers V AN HORN, METZ & CO 188 2019 SALES: $40.8M €36.4M Assets: Central warehouse in Buenos Aires 191 2019 SALES: $40M industrial area, it for liquids and solids and Purmerend, Netherlands with secluded area for food/pharmaceuticals Conshohocken, Pennsylvania www.dutch2.com Trading sales: 1% www.vanhornmetz.com Managing director: Steven Willekes President & CEO: Barrett C. Fisher Products: Acetates; acids; acrylates; alco- MINƒCHEM„LAWRASON’S„ Products: Additives; specialty resins; ex- hols; amines; aromatics; chlorinated sol- 190 CK INGREDIENTS GROUP tenders; pigments; dyes; base stock; sili- vents; glycol ethers; glycols; hydrocarbons; 2019 SALES: $40M cones; surfactants; esters; thickeners; ketones; monomers; vegetable oils; propyl- Oakville, Ontario, Canada PAOs ene glycol ethers; plasticizers www.min-chem.com, www.lawrasons. Services: Dry blending; pigment treatment Services: Trading; export; drumming; ware- com, www.ckingredients.com Assets: Four warehouses housing; logistics; blending; packaging; stor- President: David A Luciani Trading sales: 15% age; consignment stocks Products: Composite thermosets (roving, Trading sales: 30% resin and peroxides); composite thermoplas- ACID PRODUCTS tics; rubber additive; adhesives; waxes; 192 2019 SALES: $38.6M HE NRY HIRSCHEN lame retardants; pharmaceutical ingredi- 189 2019 SALES: $40M ents; nutraceutical ingredients; food ingredi- Chicago, Illinois, US ents; mineral and industrial acids; water www.acidproducts.net Buenos Aires, Argentina treatment chemicals; pool and spa chemi- President: Jann Fisher Shutterstock

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Products: Acids; caustics; dry chemicals; coatings chemicals vents; organic and inorganic chemicals; paint white oils; solvents; surfactants; cleaning Services: Market expansion, technical sup- and coatings raw materials; adhesives and chemicals port sealants raw materials; pharmaceutical, cos- Services: Toll blending (pails, drums, totes, Trading sales 100% metics and agrochemicals raw materials; au- bulk); contract packaging (all bottle sizes); tomotive chemicals; softeners and deter- powder blending; LTL distribution Q UELARIS INTERNACIONAL gents raw materials; ‚illers and pigments; Assets: Two locations; rail; 10 trucks 195 2019 SALES: $36.9M water treatment chemicals; food ingredients; lubricants and waxes; ink and printing chemi- SIP SPECIALITY OILS Panama City, Panama cals; paper chemicals; mining chemicals 193 AND FLUIDS www.quelaris.com Services: Storage and marine logs -vessel 2019 SALES: $37.4M CEO: Paul Vanhauw reception; solvents recycling and reformula- London, UK Products: Polyurethanes; rubber; coat- tion; blending and formulations; packaging www.sip.com ings; personal and home care ingredients; and bulk deliveries; logistics and outsourc- Managing director: Stephen Spencer adhesives ing; quality/lab analytical services to third Products: White oils and pharmaceutical Services: Technical sales and service; local parties; JIT delivery and telemetry stock con- oils; drilling ‚luids; process oils; specialty ‚lu- warehousing; immediate dispatch; repack- trol to third parties; e-invoicing and e-b2b ids for automotive and industrial use; sus- aging with customer platforms tainable and renewable base oils; lubricant Assets: 13 countries distribution network – Assets: Four warehouses (bulk and packed additives Bolivia, Chile, Colombia, Costa Rica, Domini- storage); sea terminal; solvents recycling Services: Storage; logistics; blending; pack- can Republic, Ecuador, El Salvador, Guate- unit; three bulk tank cars; ‚ive packed trucks aging; formulation mala, Honduras, Nicaragua, Panama, Peru and Caribbean Islands N ORTHSPEC CHEMICALS L INKERS CHEMICALS Trading sales: 13% 197 2019 SALES: $35M 194 & POLYMERS 2019 SALES: $37.4M D ROGAS VIGO GROUP Toronto, Ontario, Canada Dubai, UAE 196 2019 SALES: $36.1M www.northspec.com www.lcp.ae Principal/President: Noel Shahnazarian Managing Director: Malik Pervez Zaman Porrino, Pontevedra, Spain Products: Epoxy resins and hardeners; ali- Products: Synthetic rubber, PVC, engineer- www.drovi.com phatic and aromatic urethanes and polyols; ing plastics, plasticizers, latex, monomers, CEO: Enrique F Casal Lareo acrylic resins; pigments; additives construction chemicals, animal nutrition, Products: Solvents, thinners and green sol- Services: Inventory management; logistics

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Assets: Six warehouse facilities across Cana- isopropyl alcohol; methyl ethyl ketone; methyl dilutions; imports (under contract); transpor- da; head oice isobutyl ketone; methoxy propyl acetate; n- tation Trading sales: 5% propanol; n-propyl acetate; oxo alcohols; poly- Assets: Two warehouses (Bahia and Pernam- ethylene glycol; propylene glycol USP buco); 15 trucks; one bulk storage facility SEELER INDUSTRIES Services: Packaging; mixtures, solutions (Bahia); two laboratories (quality control and 198 2019 SALES: $35M and dilutions; storage food additives); packaging/repackaging fa- Assets: Warehouses in Viladecans (Barcelona) cility (with white room) Joliet, Illinois, US with 8,000 square metres, and Alcaser (Valen- Trading sales: 1% www.seeler.com cia) with 6,000 square metres; 1 logistics ware- CEO: Steve Seeler house in Igorre (Bizkaia); trucks adapted to INDU STRIAL CHEMICALS CORP Products: Hydrogen peroxide; peracetic ADR regulations (European regulations for the 205 2019 SALES: $32.0M acid; glacial acetic acid; propylene glycol; transport of dangerous goods), both for trans- sodium gluconate; caustic soda; hydrochlo- porting packaged product and in tank Arvada, Colorado, US ric acid; soda ash; DDBSA; sodium chlorate; Trading sales: 20% www.industrialchemcorp.com phosphoric acid; quaternary compounds; President and VP Finance: other specialty chemicals INDE PENDENT CHEMICAL Jamie Biesemeier-Wilkins Services: Tank storage; railcar unloading; 202 2019 SALES: $33.5M Products: Acetates; acids; aliphatic and aro- blending; liquid packaging; bagging; trans- matic solvents; alcohols; biofuel chemicalsl; loading; warehouse storage; property rental; Glendale, New York, US CBD extraction chemicals; chelating agents; trucking; laboratory services www.independentchemical.com chlor-alkali products (caustic soda, KOH); de- Assets: 275,000+ square feet of warehous- President: Jonathan Spielman tergent chemicals; glycols and glycol ethers; ing; ˆive trucks; 10 liquid and box trailers; 27 Products: Caustic soda; paper chemicals; heat transfer ˆluids; hydrogen peroxide; ke- above ground storage tanks; seven rail spurs solvents; aromatics; cosmetics specialties; tones; metal ˆinishing chemicals; oilˆield of 2.5 miles of track for transloading; over- nutritional and pharmaceutical specialties; chemicals; organic and inorganic chemicals; head rail trestle food specialties; hydrogen peroxide; sur- pharmaceutical chemicals; surfactants; factants; solvents water treatment chemicals VE CKRIDGE CHEMICAL Services: Dry blending for food ingredients; Services: Contract blending; proprietary 199 2019 SALES: $35M pharmaceutical repackaging; liquid ˆilling blends; transloading; warehousing Assets: One warehouse; six trucks; three Assets: Three warehouses; 25 tankers; 10 Kearny, New Jersey, US tankers tractors; ˆive vans; 740,000 gal bulk storage; www.veckridge.com Trading sales: 5% rail siding to accommodate 16 railcars President: Mark Veca Products: Inorganics; acids; solvents; alco- R ADCHEM PRODUCTS GJ CHEMICAL hols; amines; peroxides; salts 203 2019 SALES: $32.8M 206 2019 SALES: $32M Services: Blending; packaging; warehous- ing; storage Orland Park, IL Somerset, New Jersey, US Assets: Five trucks, three warehouses, rail www.radcheminc.com www.gjchemical.com President: William M. Radostits President: Diana Colonna CA STLE CHEMICALS Products: Chemicals and solvents including Products: Acrylates and monomers; high 200 2019 SALES: $34.5M £26M but not limited to acetates, alcohols, aliphat- purity solvents; reagent chemicals; ketone; ic and aromatic hydrocarbons, glycol ethers, monomers; plasticizers; acids and anhy- Manchester, UK process and base oils, reuse solvents, resins drides; aromatic solvents; chlorinated sol- www.castlechemicals.com and ketones vents; cosmetic preservatives; esters; glycol Director: Alan McCann Services: Railcar, tanker, drums, totes and ethers; glycols; heat transfer ˆluids Products: Silane coupling agents; synthetic blending Services: Testing; bulk storage; repackag- rubbers; latex additives; dithiocarbonate ac- Assets: Dedicated owned compartment ing; liquid bulk handling; custom blending; celerators; specialty pigments for inks; pre- trailers and dedicated equipment for speciˆic purifying; stabilizing dispersed rubber chemicals; construction products Assets: Three locations in New Jersey; eight chemicals and addmixtures trucks; 25 tankers; 15 box trucks Services: Distribution via local storage facili- M ORAIS DE CASTRO Trading sales: 40% ties; advanced customer strategic stock 204 2019 SALES: $32.3M R130.0M management MCKINN INTERNATIONAL Assets: Warehouse and storage facilities in Salvador, Bahia, Brazil 207 2019 SALES: $32M UK, Belgium, Italy, US and Canada www.moraisdecastro.com.br Trading sales: 30% CEO: Andre Castro Singapore Products: Surfactants; glycols (EO/PO); www.mckinn.com.sg BRUGUES white mineral oils; caustic soda; sulfonic acid Managing director: Chau Tak Vui 201 2019 SALES: $33.7M €30M (LAB-S); inorganic acids (H2SO4, HCL, Products: Raw materials for adhesives, coat- HNO3); sodium hypochlorite; personal care ings, UPR, PU and TPU; plastics additives; Viladecans, Barcelona, Spain additives; food ingredients and ˆlavours; rhe- ˆlame retardants; acids and anhydrides; plas- www.brugues.com ology modiˆiers; oxygenated solvents; chlo- ticizers; rubber additives CEO: Raimon Brugus Sintes rinated solvents; biocides; sulfates (Al, Na, Services: Sourcing Products: Acetone; benzy; diacetone alcohol; Cu, NH3); silicones Assets: 3rd party warehouse ethyl acetate; formic acid; isopropyl acetate; Services: Packaging/repackaging; storage; Trading sales: 85%

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R .E. CARROLL tonnes of storage in park tanks RISHICHEM 208 2019 SALES: $31.4M Trading sales: 10% 212 2019 SALES: $27.4M

Trenton, New Jersey 08638, US GBˆCHEMIE Mumbai, India www: recarroll.com 210 2019 SALES: $29.8M €26.5M www.rishichem.com President: Robert E. Carroll, III President: Sanjiv Desai; Directors: Arvind Ka- Products: Calcium carbonate, clays, blow- Messel, Germany poor, Aditya Kapoor, Atul Shah ing agents, alumina trihydrate, zinc oxides, www.gb-chemie.com Products: Acrylic-based —low modi—iers, mat- plasticizers, foaming agents, barium sul- CEO: Jean-Pierre Pittack ting agents and degassing agents; actives fate, petroleum products (aromatic oils, Products: Amines; alcohols; inorganic com- for personal care; anionic, nonionic, ampho- naphthenic oils), magnesium oxide, stea- pounds; bromine derivatives; complexing teric surfactants; aromatic polyisocyanates; rates, soybean oils, lubricants, ASTM refer- agents; solvents; organic compounds; phos- ASR- alkali water soluble resins; hydrocarbon ence oils phorus compounds; starch/starch deriva- resins; natural oils and extracts; —luoro sur- Services: Repackaging, storage, capacity to tives factants; high boiling alcohols; MDI and poly- e„iciently repackage 6,000 – 12,000 gallons Services: Storage; blending; packaging; lo- ols; microcrystalline waxes, bees wax and per week at several locations for aromatic, gistics specialty blends; n-butyl chloride; specialty naphthenic, para„inic base and process oils Assets: Several local warehouses polyester resins; poly mercaptan epoxy Assets: Corporate o„ice & warehousing Trading sales: 25% hardeners; rheological modi—iers; rosins and (NJ), warehouse locations in OH, GA, TX. rosin esters; silanes and silicones; TiO2 DAXX Services: Blending; packaging; labelling; BRISCO 211 2019 SALES: $29M warehousing; inventory management 209 2019 SALES: $30M Assets: Technical application laboratory; Houston, Texas, US company premises Sao Paulo, Brazil www.daxxgrp.com www.brisco.com.br President: Jean Marie Diederichs LUMAR QUIMICA www.briscopc.com Products: Solvents; aromatics; glycol 213 2019 SALES: $26.9M €24.0M CEO: Guillermo Castillo ethers; esters; alcohols; isocyanates; amines; Products: Styrene monomer; acrylates; ac- specialty chemicals Barcelona, Spain etates; plasticizers; maleic anhydride; Services: Blending; packaging; storage; rail- www.lumarquimica.com phthalic anhydride; EPS; PS; ABS; PE; PP car, tanker, isotank, vessel shipments President: Lluis Ribera CEO: Bruno Saillant Services: Drumming; blending; agency Assets: One warehouse; four trucks; four Products: Lubricant additives; antioxidants; sales; trading; packaging tanks corrosion inhibitors; metal deactivators; anti- Assets: Two warehouses; —ive trucks; 1,000 Trading sales: 20% wear and EP additives; fatty acids; fatty alco-

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hols; surfactants; friction modiiers; antifoam www.jns-smithchem.com www.lakecm.co.uk agents; viscosity index improvers (OCP, Chief operating oŽicer: Darren Jachts Managing Director: Steven Cartlidge PAMA); pour point depressants; thickeners; Products: Resins; minerals; illers; additives; Products: Lake Engineering Solutions – solid lubricants; wetting agents; amines; pigments; specialty chemicals corrosion control solutions; Lake Technical tackiiers; biodegradable additives; food ad- Assets: Six warehouses Specialities – adhesives and sealants, lubri- ditives; PAO (polyalphaoleins); PAG (polyala- Trading sales: 5% cants and metal working luids, paints, sur- lkyleneglicols); PIB (polyisobutylene); esters; face coatings; Ubichem – excipients for tab- silicon; PFPE; phosphate esters; corrosion KAD ION ESPECIALIDADES let, capsule and suspensions, drug delivery inhibitors; waxes 216 QUIMICAS modiied lipids and phospholipids, ad- Services: Storage; logistics; repackaging; 2019 SALES: $25.4M €22.6M vanced intermediates, European licensed analysis; technical training Barcelona, Spain APIs; Lake Personal Care – substantiated ac- www.kadion.com tives, sensorial, functional and tactile addi- B ARRETTINE GROUP CEO: Joaquim Guilera Sarda tives, rheology modiiers, oils and fats, ex- 214 2019 SALES: $26.5M £20M Products: Speciality chemicals; additives; tracts, emulsiiers and solubilizers; Salutivia hyperdispersants; surface and rheology – lavours, food ingredients, nutritional sup- Warmley, Bristol, UK modiiers; defoamers and air release chemi- plements, process aids www.barrettine.co.uk cals; UV stabilizers; antioxidants; photoinitia- Services: Chemical synthesis, distillation, Group managing director: Steven Bailey tors; organic and inorganic pigments; alu- puriication, repackaging, sieving, blending, Products: Isopropanol; acetone; ethanol; hy- minium, bronze and pearl pigments; new product development, contract re- drocarbon solvents; esters; aromatics; acids; colorants; soluble dyes for plastics and coat- search and manufacturing, quality control, caustic soda; insecticides; rodenticides; ings; resins and polymers; nitrocellulose; storage and distribution wood preservers; wood stains; paint strip- epoxy resins; vinyls; aldehydes; acrylics; pol- Assets: Head o–ice, warehouse, two labs pers; cleaning chemicals yurethanes Services: Manufacturing; blending; bespoke Services: Technical sales and marketing; TZ GROUP formulations; contract manufacturing; pack- supply chain management; import and ex- 218 2019 SALES: $24.9M aging; storage port; warehousing; customer and regulatory Assets: Manufacturing and mixing plant services Houston, Texas, US Trading sales: 50% Assets: Two sales o–ices and warehouses www.treza.com.mx www.tzgroupusa.com JNS SMITHCHEM LAK E CHEMICALS AND www.tauchemicals.com 215 2019 SALES: $26.2M 217 MINERALS President: Fernando J Zavala 2019 SALES: $25.1M £18.9M Products: Caustic soda liquid and lakes; Paterson, New Jersey, US Redditch, Worcestershire, UK acetic acid; sulfuric acid; sodium hypochlo- Shutterstock

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rite; chloridric acid; liquid chlorine; sodium sulfate; sodium hydrosulite; sodium bi- sulite and metabisulite; sodium silicate; sodium carbonate; sodium bicarbonate; calcium chloride; hydrogen peroxide; nonil phenol; LESS Services: Liquid and solid storage; packag- ing; dilution and blending; deliveries any quantity Assets: Six warehouses – ive in Mexico City, Puebla, Merida, Villahermosa and Cancun, Mexico, and one in Houston, Texas, US; 36 trucks for deliveries; 15 tank trucks for liquid products Trading sales: 16%

SAMECA 219 2019 SALES: $24.7M €22M

Porto, Portugal www.samecapq.com CEO: Eduardo Moura e Sa Products: Additives for food, plastics and rubber, coating and resins; solvents; inorgan- ic chemicals; pigments; organics and inor- ganics; coatings; resins; personal care, cos- metics and detergents chemicals; effect chemicals; resins intermediates Services: Storage for bulk and solids; packaging Assets: Own road leet; six trucks; two owned warehouses; three rented warehouses Trading sales: 40%

MONARC H CHEMICALS 220 2019 SALES: $23.1M £17.4M trate; MAP; MKP; phosphoric acid; water sol- Products: Ethyl alcohol; beverage ingredi- uble NPK fertilizers; ammonium sulfate; po- ents; industrial organic glycols; glycol ethers; Sheerness, Kent, UK tassium phosphate; dicalcium phosphate; surfactants www.monarchchemicals.co.uk industrial additives Services: Packaging; blending; storage Managing director: Jon Hill Services: Blending; packaging; storage; Assets: 60,000 square foot warehouse; 15 Products: Agricultural performance silage logistics bulk tanks; 20 stainless steel tanks; two trac- additives; acetic acid; caustic soda; citric Assets: 50,000 square metre warehouse tors; two box trailers acids; formic acid; feed additives; formates; Trading sales: 25% glycerine; glycols; hydrochloric acid; nitric WHITCHEM acid; propionic acid; sodium hypochlorite; SULATLANTI CA IMPORTADORA 224 2019 SALES: $21.2M £16M sodium sulide 222 E EXPORTADORA Services: Warehousing; liquid and powder 2019 SALES: $22M Newcastle-Under-Lyme, Staffordshire, UK blending; dilutions; toll manufacturing; Rio de Janeiro, Brazil www.whitchem.co.uk packed and bulk UK distribution; inventory www.sulatlantica.com.br Managing director: Charles Hawley management; supplier reduction; just-in- CEO: Leonardo Roisman Products: Resins/polymers; pigments; time delivery; global sourcing Products: Chemicals for oil and gas, mining, additives; mineral illers/ilter aids; textile Assets: Two UK distribution locations with glass, agriculture, food and feed industries processing/inishing/coating products; bulk and packed storage; o—ices; four pur- (organic chemicals, inorganic chemicals, sol- chemicals for adhesives and sealants, pose built trucks vents, emulsiiers, viscosiiers) coatings and inks, construction and re- Trading sales: 18% Services: Importing; exporting; packaging; fractory materials, plastics and rubbers, blending textiles, agriculture and horticulture, il- AN TONIO TARAZONA Assets: Four warehouses; 20 tanks; one of- tration of liquids, metallurgy and engi- 221 †INDUSTRIAL DIVISION‰ ice building neering materials 2019 SALES: $22.5M €20M Services: Storage of chemicals and miner- Silla, Valencia, Spain EA GLE ALCOHOL als for customers across the UK and Ireland; www.antoniotarazona.com 223 2019 SALES: $21.7M industrially trained personnel; specialist President: Jorge Tarazona Soriano technical support; project development; Products: Urea; urea solutions; ammonia; St Louis, Missouri, US formulation advice caustic sosa; calcium nitrate; potassium ni- President: Daniel J Croghan Assets: Sales o—ice and warehouses in the UK

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COMINDEX 228 2019 SALES: $19.1M €17.0M

Barcelona, Spain www.comindex.es General manager: Ana-Cristina Arp Products: Additives; acrylic dispersions; alkyd emulsions; biosolvents; castor and lin- seed oil and derivatives; corrosion inhibi- tors; epoxy resins; functional
illers; matting agents; molecular sieves; pigments; poly- ols; PU dispersions; reactive diluents; rein- forcing
ibres Services: Technical assessments; technical visits with our principals; free customer train- ing; free samples shipment Assets: Headquarters; one warehouse

BIACHEM 229 2019 SALES: $19M

London, UK www.biachem.com Managing director: Bob Beaumont Products: Caustic soda; surfactants; sodium percarbonate; sodium chloride; magnesium chloride; chlorine powder; chelates; sulfamic acid; sodium sulfate; phosphates Services: Storage; blending; repackaging; dilution Assets: All warehousing and transport sub- contracted; o’ices in London and Ireland Trading sales: 5% Shutterstock S CHIBLEY SOLVENTS AND GULF COAST CHEMICAL sul
ide; 12-hydroxystearic acid; rubber auxil- 230 CHEMICALS 225 2019 SALES: $20.6M iaries; natural rubber; synthetic rubber; poly- 2019 SALES: $19M isoprene synthetic rubber; titanium dioxide; Elyria, Ohio, US Abbeville, Louisiana, US carbon black; fuel additives; fuel perfor- www.schibley.com www.gulfcoastchemical.com mance packages with BASF technology President: Reed Schibley Managing member: Jim Fusilier Services: Blending; bulk storage; drum- Products: Organic peroxide initiators; sur- Products: Glycols; methanol; ethanolamines; ming; outsourcing; packaging and repack- factants; fatty acids; release agents;
iber- coolants; lubricants; antifreeze; heat transfer aging; sourcing; warehousing glass reinforcements; resins; gelcoats; FRP
luids; production chemicals; wireline lubes; Assets: 75 iso-containers; warehouses with equipment; solvents; chelates specialty frac and completion
luids drumming, blending and repackaging capa- Services: Blending; packaging; storage; Services: Blending; storage; laboratory ser- bility;
ive o’ices globally; internal laboratory; trucking vices; chemical treatment programmes; op- transport
leet Assets: Four warehouses; refrigerated ware- erator training Trading sales: 7% housing; hazardous material warehousing; Assets: Six company operated facilities; one three trucks;
ive trailers methanol terminal; 120,000 square feet THE WHITE SEA & BALTIC warehousing; 500,000 gal bulk storage; lab- 227 COMPANY KL AUS F. MEYER oratory facility; 22 delivery trucks; two tank- 2019 SALES: $20.0M £15.0M 231 2019 SALES: $18.3M €16.3M ers; six service trucks Horsforth, UK Trading sales: Less than 10% www.whitesea.co.uk Fussgoenheim, Germany Managing director: Alan Carradice www.klausfmeyer.de KEMAT Products: Surfactants – nonionics, anionics, Managing directors: Martina Magnie, Frank 226 2019 SALES: $20.0M €17.8M cationics, hydrotopes and green surfactants; Meyer fatty acids; oleochemicals; UV absorbers; Products: Hydroxylamine sulfate; hydroxy- Brussels, Belgium pine tar; biocides and preservatives; person- lamine hydrochloride; tri
lic acid; MEKO; ni- www.kematbelgium.com al care ingredients; lactates; phenol blends tromethane; isocyanuric acid; BHT; p-tolue- Managing director: Simon Mason and crystals nesulfonic acid; n-isopropylhydroylamine; Products: Polyisobutylene (PIB); proprietary Services: Storage; blending; sourcing TMEDA; anthranilic acid; agrochemicals; PIB blends; polyalphaole
ins (PAO); lubricant Assets: Head o’ice pharmachemicals; specialty chemicals; auxiliaries; natural oils; molybdenum di- Trading sales: 20% catalysts

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Services: Door-to-door-service; re illing of www.cfworld.pl acetate, 2-ethylhexylglycerin, caprylyl glycol, tri lic acid; handling of dangerous goods; CEO: Klaudiusz Dominiak dimethyl succinate, di-n-butyl ether, isoamyl al- stockholding Products: Cellulose ethers; SBS and NBR poly- cohol, vinyl-2-ethylhexanoate) Assets: Five warehouses; own oice in mers; tartaric acid; redispersible powders; tita- Services: Custom blending and repackag- Shanghai-Puxi; laboratory for sample han- nium dioxide; petroleum resins; self-leveling ing; formulation; drumming dling; isotanks additives; styrene-acryl and acryl dispersions; Assets: Two oices; three warehouses (one antifoams; hydrophobic impregnates; coales- owned); blending/formulation unit AMERIC AN CHEMIE cent agents; lithium carbonate; gum resins 232 2019 SALES: $16M Services: Blending; packaging; storage; raw EMCOŠINORTECH materials laboratory tests 235 2019 SALES: $15.4M C$20M Austin, Texas, US Assets: Warehouse; laboratory with full www.americanchemie.com equipment for dry and wet applications Terrebonne, Quebec, Canada President: Paula Kamdar Trading sales: 5% Vice president, sales and marketing: Vice President: Mike Kamdar Jean-Baptiste Moranta Products: Chemicals, ingredients and addi- SAIP ER CHEMICALS Products: Specialty chemicals for coatings, tives for sunscreens, personal care, HI&I (sur- 234 2019 SALES: $15.5M RS 1.11BN adhesives, sealants and elastomers (CASE); factants), food, nutrition, animal nutrition, resins; additives; pigments paints, inks, catalysts, lube oil, greases, metal Mumbai, India Services: R&D working, PVC lubricants, lame retardants, www.saiper.com Assets: Two oices; one R&D laboratory synthesis Managing director: IBV Raghavan Services: Logistics; imports; distribution in- Products: Additives (amine neutralizer, adi- ROYALE GROUP ’AWSM, SHOREŠ cluding hazmat chemicals in iso-tanks; just- pates, propionates, saturated block polyethers); 236 CHEM, ROYALE PIGMENTS“ in-time delivery; hazmat certi ied; outsourc- amines (ethanolamine, ethyleneamines, isopro- 2019 SALES: $15M ing; tolling; private labelling panolamines); C4 chemicals (BDO, NMP, THF, Paramus, NJ 07654, US Assets: Six warehouses across the US MPDiol Glycol, TBAc,); coalescing aids (Texanol, www.royalepigments-chem.com OE 300, TXIB, Coasol, Coasol 290 Plus); glycol CEO: John Logue CFI WORLD ethers (E-Series & P-Series); propylene glycols; Products: Alkali luoroborates, luorides, 233 2019 SALES: $15.8M €14.1M pine oil based derivatives tall oil rosin, TOFA, metal luoroborates, nitrates/nitrites, bo- DTO, rosin esters and rosin ester emulsions; spe- rates, specialty organic/inorganic luorines, Robakowo, Poland cialties (1-2 diaminocyclohexane, 2-ethylhexyl pearlescent luorescent iron oxides

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Services: Stock, supply chain management, construction; thickeners; binders; pigments QUI MICA MER consulting, blending, grinding Services: Blending; development of formu- 245 2019 SALES: $6.1M €5.5M
Assets: Five warehouses, two converting lations; consulting; packaging; storage; locations stock control; vendor management Toledo, Spain Assets: R&D laboratory www.quimicamer.es TECNOSINTESI Trading sales: 5% CEO: Javier Huerta Gonzalez 237 2019 SALES: $13.5M €12M
Products: Solvents, thinners and green sol- AN LOC PHAT INTERNATIONAL vents; paints and coatings raw materials; ad- Bergamo, Italy 241 2019 SALES: $10M hesives and sealants raw materials; aroma www.tecnosintesi.com chemicals and cosmetics raw materials; sof- Sales and marketing manager: Ho Chi Minh City, Vietnam teners and detergents; emulsions and co- Michele Angius www.anlocphat.com.vn polymers; antifreezing formulated products; Products: Adipic acid (AA); ammonium Managing director: Harry Nguyen epoxy resins; pharmaceutical and agro- polyphosphate (APP); acetyl tributyl citrate Products: Synthetic rubber; rubber chemi- chemicals raw materials; organic and inor- (ATBC); butanediol (BDO); cyclohexane- cals; silicone rubber; polyurethane; con- ganic chemicals; aeronautic and automotive dimethanol (CHDM); diallyl phthalate (DAP); struction chemicals raw materials; water treatment chemicals; hexanediol (HDO); isophthalic acid (PIA); Services: Import ink and printing chemicals; food ingredients monobutyltin oxide (MBTO); monopropyl- Assets: Five warehouses Services: Bulk storage; blending and formu- ene glycol (MPG); polyethylene wax; p-tert Trading sales: 20% lations; packaging and bulk deliveries; logis- butyl phenol (PTBP); tartaric acid; trimeth- tics and outsourcing; laboratory analytical ylolpropane (TMP); zinc oxide (gold; green CHEMCEED services to third parties; e-invoicing and active) 242 2019 SALES: $9.4M Assets: One warehouse (bulk and packaged Services: Trading; sourcing of specialties; storage); one bulk tank car; two trucks storage; blending and repackaging; full ser- Chippewa Falls, Wisconsin, US vice from sourcing to DDP delivery, including www.chemceed.com PETRICO handling of emergencies President: Marimel Enderes 246 2019 SALES: $4.2M £3.2MŸ Trading sales: 70% Products: Plasticizers; corrosion inhibitors; additives; solvents; fatty acids; alcohols; spe- Sandbach, UK STORT CHEMICALS cialty chemicals; industrial chemicals; food www.petrico.com 238 2019 SALES: $12.2M £9.2M
additives Managing Director/CEO: Andy Lamb Services: Blending; packaging; labelling; Products: Specialty chemicals; antifoams; Bishops Stortford, Hertfordshire, UK storage; consignment; JIT delivery rust preventatives; lubricant and fuel addi- www.stortchemicals.co.uk Assets: Four warehouses tives and packages Managing director: Richard Gilkes Services: Warehousing; packaging; logis- Products: Resins; pigments and additives A BBEY CHEMICALS tics; procurement for coatings (paints, inks and adhesives); 243 2019 SALES: $9.2M £6.9M
Assets: European warehouses colorants for paints and thermosets; —luoro- surfactants; raw materials for —lavors and Great Yarmouth, Norfolk, UK KETSIN DE COSTA RICA fragrances www.abbeychemicals.co.uk 247 2019 SALES: $1.4M Services: Technical sales; storage Director: Tyson Bonham Products: Monoethylene glycol; monopro- San Rafael, Costa Rica SM A COLLABORATIVES pylene glycol; butyl diglycol; monoethanola- www.ketsincr.com 239 2019 SALES: $10.6M mine; acetic acid; ferric chloride; caustic CEO: Cesar Marin soda liquor and pearl; copper sulphate; mag- Products: Titanium dioxide; carbon black; Cincinnati, Ohio, US nesium sulphate; potassium nitrate; calcium pigments; emulsions; alkyd resins; polyester www.smacollaboratives.com nitrate; boric acid; zinc sulfate; manganese resins; masterbaches; additives; plastics; President: Saad Ashoor sulfate; phosphates polyethylene; solvents; aromatics; specialty Products: Anti-aging actives; emulsifers; ex- Services: Storage products; food additives; sanitizers; caustic tracts; aroma chemicals; peptides; vitamins; Assets: Three warehouses; six trucks and soda; consumer products; household and thickners; preservitives; natural ingredients; seven trailers; —ive ADR drivers; offshore ma- personal care ingredients surfactant concentrates; natural oils; micro- rine base facility; 12 offshore tanks Services: Storage; packaging; safety stocks biome ingredients Trading sales: 8% and blends Services: Custom blending; repackaging; Assets: Two warehouses; two transporta- formulations; sales in 5 US states CLARIQUIMICA tion —leets Assets: Three warehouses; formulations lab; 244 2019 SALES: $8.1M production facility Currency conversion rates Sao Paulo, Brazil (31 December 2019) $1 = CB CHEMIE www.clariquimica.com.br Euro 0.8907 240 2019 SALES: $10.0M €8.9M
Products: Pigments and additives; pigment dis- British Pound 0.7537 persions; paper and textiles chemicals; carbon Swiss Franc 0.9678 Baumgarten, Austria black; iron oxide; dyes for paper and textiles Canadian Dollar 1.2962 www.cbchemie.at Services: Blending; packaging CEO: Christian Braunshier Assets: Warehouse; one truck Brazilian Real 4.0192 Products: Specialty chemicals for coatings and Trading sales: 70% Indian Rupee 71.2922

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ICB_220520_096.indd 96 5/20/20 5:32 PM CONFERENCES & EVENTS

Dates for your diary WHAT’S ON Forthcoming ICIS events worldwide Conferences EPCA 54TH ANNUAL The ICIS Asian Recycling & Sustainability Conference Urgent Alert: Change of date MEETING 4 September Hyatt Regency Bangkok Sukhumvit, Thailand Tel: +44 20 8652 3616 October 2020 Email: [email protected] www.icisevents.com/asianrecycling The 9th ICIS World Polyole
ins Conference EPCA’s Annual Meeting, with its Urgent alert: Change of date 9-10 September (Training course: 8 September) thought-provoking programme Ritz Carlton, Vienna, Austria Tel: +44 20 8652 4627 featuring world-class speakers, is a Email: [email protected] www.icisevents.com/worldpolyole“ins platform where members can meet The 13th ICIS World Chemical Purchasing Conference their peers in Europe, showcase 10-11 September (Training course: 8-9 September) Hyatt Boston Harbor, Boston, US their successes and stay abreast of Tel:+44 20 8652 8350 Email: [email protected] international market developments as www.icisevents.com/worldchemicalpurchasing The PET Value Chain Conference well as technological, geopolitical and 16-17 September (Training course: 15 September) NH Collection Amsterdam Barbizon Palace, Amsterdam, societal trends. the Netherlands Tel: +44 20 8652 3616 Email: [email protected] For more details, contact EPCA www.icisevents.com/middleeastbaseoils Tel: +32 2 741 86 60 The 10th ICIS World Surfactants Conference Email: [email protected] Urgent alert: Change of date 16-18 September (Training course: 15 September) www.epca.eu Hyatt Regency Jersey City, New Jersey, US Tel: +44 20 8652 4627 Email: [email protected] www.icisevents.com/worldsurfactants Training An Introduction to Polyole
ins: Industry Fundamentals and Market Dynamics 8 September Ritz Carlton, Vienna, Austria

Advanced Purchasing Skills 8-9 September Hyatt Boston Harbor, Boston, US

2020 POLYURETHANES Recycled Polymers 15 September NH Collection Amsterdam Barbizon Palace, Amsterdam, TECHNICAL CONFERENCE the Netherlands

Surfactants Business Essentials 5-7 October 2020 15 September Hyatt Regency Jersey City, New Jersey, US Marriott Rivercenter, San Antonio, Texas, US Petrochemicals: An In-Depth Introduction 28-29 September The ACC’s Center for the Polyurethanes Industry’s Singapore annual Polyurethanes Technical Conference offers Fundamentals of Petrochemical Plant Economics & Forecasting delegates industry expertise, professional networking 30 September and regulatory insight. It aims to foster technical and Singapore Fundamentals of the Polymers Business professional development and gives a preview of the PU 1-2 October Singapore technology of tomorrow and key information for today. Contact: www.icis.com/training Tel: +65 6780 4809 For more details, contact Elizabeth Bailey at ACC Tel: +1 202 249 6605 Email: [email protected] For more information: https://polyurethane.americanchemistry.com icis.com/conferences and icis.com/training

www.icis.com 22-28 May 2020 | ICIS Chemical Business | 97

ICB_220520_097.indd 97 5/20/20 5:38 PM EUROPE CHEMICAL PROFILE For up-to-date information on more than 120 global commodities, visit: icis.com/about/price-reports

Samantha Wright London Fatty acids

Uses Tallow supply began to improve in Q2, with terial used for fatty acid production in Ma- Key end markets for fatty acids are the cos- biodiesel production being slashed amid a laysia and Indonesia, while coconut oil is metics and personal care industries. drop in automotive demand due to the coro- used in the Philippines. Fatty acids are mainly used in the produc- navirus pandemic. Fatty acid production in Asia, particularly tion of soaps, detergents and surfactants Palm oleic tightness persisted into Q2, with in southeast Asia, accounts for around 80% used in products such as shampoos, liquid some players this time substituting with tallow of global fatty acids production. detergents, body lotions and toiletries. material instead. In Europe, fatty acids are also produced They are also used in the manufacture Demand was stable at the end of 2019 and from tallow fats. and compounding of natural and synthetic into the irst quarter of 2019. Personal care de- The basic acids from this production are rubbers to improve the performance of mand saw a strong boost from preventative the C18 stearic and oleic acids. Alternative paints, plastics, lubricants, textiles and rub- measures to combat the coronavirus during vegetable feedstocks including rape oil ber products. A key end market use for this Q2. At the same time, demand from automo- and olive oil are gaining some traction in is in coatings for rubber car tires. tive applications dropped signiicantly, which Europe amid sustainability issues with In food they can be used to produce mainly impacted the tallow stearic market. palm oil. Glycerine is a co-product of fatty monoglycerides to act as food emulsiiers. acid production. Prices Supply/demand Fatty acid quarterly contract prices have been Outlook The palm stearic market was generally bal- on a steady uptick since the fourth quarter of There are no major changes expected in anced at the end of 2019 and into 2020, with 2019. Palm oleic values have seen larger in- the palm stearic market in the coming no production issues or major concerns seen creases than tallow oleic prices due to the se- months, with this market generally calm. in the market. vere tightness in the palm oleic market. Palm Palm oleic supply is likely to remain tight Palm stearic fundamentals are typically prices rose above tallow prices in the irst for the rest of the second quarter, with is- very calm, with very limited changes general- quarter, maintaining the higher prices into the sues securing material from Asia due to ly expected from year to year. second quarter. ongoing lockdowns amid the corona- The tallow market was very tight for both Palm stearic prices jumped up for the irst virus pandemic. oleic and stearic acid at the end of 2019, with quarter amid shortages during the fourth Availability is expected to increase once an increase in tallow biodiesel production quarter, but values stabilised during the irst the lockdowns in Asia and Europe are lift- seen in the region. This took raw tallow out of half of 2020 as availability improved. ed, though there will be a period of waiting the fatty acids market and led to some se- Values for tallow-based stearic acid saw a while vessels are en-route. vere shortages, particularly for oleic acid. less sharp rise in prices in the irst quarter, Despite tightness at the beginning of As a result, some players began substitut- bringing palm stearic average prices above 2020, tallow stearic supply is anticipated ing with palm material instead. This led to sig- tallow-derived material, before tallow values to remain healthy through the second niicant tightness in the palm oleic market, moved above palm prices again in Q2. quarter. There may be shortages of materi- with extremely limited volumes seen at the The spread between tallow-based stearic al during the third quarter if fuel demand end of the irst quarter and into the second. and oleic values has narrowed in the second picks up as expected. quarter, with stearic prices seeing more sig- Tallow biodiesel can be double counted Europe fatty acids niicant gains than oleic values. towards biofuel mandates in some coun- The European fatty acids market is fairly tries and as such is likely to see a spike in €/tonne, contract FD NWE calm in mid-May, following a lurry of activi- interest when fuel consumption rises, 1,200 C18 stearic acid triple pressed palm stearic ty in April. There was a signiicant uptick in which could limited the amount of raw tal- C18 tallow distilled standard, oleic C18 tallow fully hydrogenated stearic demand during April amid the coronavirus low available for fatty acid production. 1,100 pandemic, but most players seem to have Demand from the personal care industry covered for the coming months now, with is set to remain strong for the rest of the 1,000 much less enquiries noted in the market. second quarter and into Q3. Demand remains healthy for personal Automotive buying interest will remain 900 care applications, but most players now weak until the majority of car manufactur- seem content to collect material from con- ers return to production. Some manufac- 800 tracted volumes. turers are expected to restart during May, but there has been no impact to fatty acids 700 Feedstocks demand as of yet. ■ Fatty acids are primarily derived from vege- Access the archive of the Chemical 600 table oils, in the main palm and coconut oil. Proiles A-Z at icis.com/subscriber/icb/ Jul 2019 May 2020 Palm oil and palm kernel oil are the raw ma- chemicalpro iles

98 | ICIS Chemical Business | 22-28 May 2020 www.icis.com

ICB_220520_098.indd 98 5/21/20 9:10 AM US CHEMICAL PROFILE

Antoinette Smith Houston MEG

Uses the export process. With these in place, China US ethylene glycol capacity In the US, monoethylene glycol (MEG) is main- is likely to become the top export destination ‘000 tonnes/year ly used in the production of polyethylene tere- for US MEG. Company Location Capacity phthalate (PET) bottle resin and in anti-freeze/ In early 2020, demand surged from PET for LACC - Lotte/ Lake Charles, 700 coolant. A rapidly rising and signi•icant por- bottling and food packaging amid the corona- Westlake Louisiana tion of US production is sent to Asia, where virus pandemic. Demand decreased for poly- MEGlobal Freeport, Texas 700 MEG is used in producing polyester •ibres. ester •ibres. Textiles, carpets and UPRs saw Additional applications for co-products di- the biggest decreases as consumers focused Indorama Port Neches, Texas 450 Ventures ethylene glycol (DEG) and triethylene glycol on essential purchases, like food, bottled Shell Geismar, Louisiana 410 (TEG) include de-icing •luids, surface coatings, water and cleaning products. unsaturated polyester resins (UPR), polyester With US auto production shut down for two Formosa Plastics Point Comfort, 370 USA Texas polyols and natural gas dehydrogenation. months, demand from the key anti-freeze sec- tor declined signi•icantly. Indorama Clear Lake, Texas 355 Ventures Supply/demand As Europe ran out of storage space amid Supply has been very long since the start of lockdowns and lacklustre demand, US car- Dow Seadrift, Texas 300 three new US MEG plants in 2019 that added goes went instead to Asia. With polyester pro- LyondellBasell Bayport, Texas 265 1.7m tonnes/year of new capacity – an in- duction remaining below full rates, port inven- Sasol Lake Charles, 250 crease of 75%. The added capacity was meant tories rose and pressured prices lower. Louisiana mostly to be exported to China, the world’s Eastman Longview, Texas 120 largest consumer of MEG, but tariffs of 25% on Prices A full list of plants and projects capaci- US MEG exports were imposed before the •irst Fundamentals were bearish at the start of Q2 ties, forecasts, production volumes and new plant started up. 2020 as global markets faced a supply glut operating rates are available on the Despite the trade restrictions, the US be- and lower-than-expected demand. ICIS Supply and Demand database came a net exporter in February 2019, with The peak winter season wound down at most cargoes going to Mexico, Belgium and the same time auto production stalled, driv- Outlook Turkey. ing prices for anti-freeze-grade MEG to 18- The typical summer peak season is in doubt, Shipments resumed in earnest to China in year lows. with the US and other countries only partially August 2019, after a year of nearly no product Despite the early surge in demand for PET, opening back up and travel restrictions still in shipped to that country. Importers were US •ibre-grade MEG prices fell as a result of place. Rapidly rising unemployment and pre- thought to be using duty drawback - in which, the supply glut and lower overall demand. dictions of contracting economies will limit for example, PET is made in China using US US April MEG contracts were assessed at consumer spending, and carbonated drinks in MEG and then re-exported, and most tariffs 18-26 cents/lb ($397-573/tonne) free on PET bottles are particularly likely to be hard-hit. refunded - to make this process workable. board (FOB). DEG contract prices have de- Margins remain favourable, so production has In March 2020, China implemented tariff clined or rolled over each month since Octo- not yet been curtailed. But if Asia and Europe are exemptions that included MEG, streamlining ber 2018, with a net decrease of 60%. US unable to work through their oversupply, US pro- April DEG contracts were assessed at 17.5- ducers may be forced to trim run rates. US ethylene glycol 20.5 cents/lb FOB. Sentiment is likely to remain soft, with high Co-product TEG has been increasingly global run rates due to attractive margins for Cents/lb, EGF, contract FOB US Gulf export sluggish. Demand for oil•ield chemicals was both naphtha- and ethane-based production. 31 soft as drillers cut back on spending amid Construction on Formosa’s planned expan- crashing crude prices. sion in Point Comfort, Texas, was stopped in 30 Q2, on coronavirus concerns. Originally Technology planned for H1 2020, the timing for the start-up 29 Commercial production of EG is by the oxida- is now in question. tion of ethylene in the presence of oxygen (or In addition, the CC Polymers plant in Cor- 28 air) and a silver oxide catalyst to produce eth- pus Christi, Texas, has been further delayed. ylene oxide (EO), the feedstock for EG. A The project, expected to be the world’s largest 27 crude EG mixture is then produced by the hy- integrated PTA/PET complex, would increase drolysis of EO with water under pressure. domestic MEG consumption but now is not 26 A typical production mix is 90% MEG, 9% expected to start up until at least 2023.■ DEG and 1% TEG. Fractional distillation under Access the archive of the Chemical 25 vacuum is used to separate the MEG from the Pro•iles A-Z at icis.com/subscriber/icb/ Jun 2019 Apr 2020 higher glycols. chemicalproiles

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