Paint & Coating News

On February 17, Huntsman Corporation (NYSE: HUN) announced its financial results for the fourth quarter of 2024, reporting revenues of $1.452 billion and a net loss attributable to Huntsman of $141 million.

On February 18, SK Chemicals announced plans to establish a Recycle Innovation Center (RIC) at its Ulsan plant in South Korea.

Lotte Chemical Corp., a struggling South Korean chemical company, announced on Wednesday that it has divested its affiliate in Pakistan as part of a broader business reorganization strategy.

Citi Research has issued a warning that potential reciprocal tariffs from the United States could significantly affect Indian specialty chemical companies, particularly impacting their EBITDA.

The U.S. Environmental Protection Agency (EPA) has recently finalized amendments to its Risk Management Program (RMP), aiming to enhance safety at chemical facilities and reduce accidents.

PCBL Chemical has signed a technology transfer agreement with Ningxia Jinhua Chemical Co., Ltd. in China to produce acetylene black in India.

• PCBL
• PCBL Chemical

Indian specialty chemicals manufacturer Vinati Organics Limited today announced the establishment of its wholly owned subsidiary, Vinati Organics USA INC, in Delaware, USA.

• Vinati Organics

Lotte Chemical will sell a 75.01% stake in its Pakistani subsidiary to a consortium of Asia Park Investment and Montage Oil DMCC.

• Lotte chemical
• Pakistani subsidiary

Barentz, a global specialty ingredient solutions provider, has extended its distribution agreement with Synthomer, under which Barentz will distribute Synthomer’s high-performance polymers for use in the North American floor care market.

• Barentz
• Synthomer

Arxada, a global leader in specialty chemicals and innovative solutions, announces the launch of Polyboost™, a unique multifunctional additive designed to enhance a wide range of paint and coatings performance.

• Arxada
• Polyboost

Shell, the British oil giant, has revealed concerning statistics indicating a net profit of $23.716 billion for 2024, marking a 16% decline year-on-year when excluding inventory valuation changes and non-recurring items.

On February 11, the European Commission announced a significant ruling imposing anti-dumping duties on biodiesel originating from China, with rates set between 10.0% and 35.6%.

DCL's pigment dispersion business. This significant move includes DCL's production facility located in Monteith, Ontario, Canada, as well as another in Waterfoot, UK, marking a crucial milestone in Lorama's global operations.

On February 11, Nippon Paint China, through its wholly-owned subsidiary Nippon Engineering Materials (Guangzhou) Co., Ltd., announced a price increase for its entire TUB product line, effective March 15, 2025.

ABB India has announced a significant financial performance for the fourth quarter of the calendar year 2024, with a 56% increase in net profit, reaching Rs 528.41 crore compared to Rs 338.68 crore in the same quarter last year.

China's recent retaliation against Trump-era tariffs is poised to significantly alter the flow and pricing of coking coal. As the world's largest consumer of this essential resource, China’s actions will impact global markets and reshape trade patterns.

SK chemicals, the world's first company to successfully mass-produce chemical recycled materials, has set out to establish an integrated plastic recycling solution center in Korea.

• SK chemicals

BASF and Sherwin-Williams have signed an agreement to sell the Brazilian decorative coatings business, which is part of BASF's Coatings division. The purchase price on a cash and debt-free basis is $1.15 billion.

• BASF
• Sherwin-Williams
• decorative coatings

Recent forecasts from ICIS indicate that 2025 will be a year of significant upheaval for the global chemicals industry, marked by substantial restructuring and intense competition.

On February 12, 2025, at the request of BASF and Dow, the U.S. special MDI Fair Trade Alliance submitted a petition for new anti-dumping (AD) and countervailing duties (CVD) on methylene diphenyl diisocyanate (MDI) imported from China.