In October 2019, Arkema (OTCMKTS: ARKAY) announced the operation of a new acrylic acid reactor having a capacity of 90,000-ton at its Clear Lake, Texas site. The company has invested around USD 90 million to support the growth of its North American customers in the adhesives, superabsorbents, paints, and water treatment markets.
Arkema S.A., a specialty chemicals and advanced materials company, provides innovative solutions and creates new uses that accelerate customer performance. The company’s business portfolio is organised into three segments, namely, coating solutions, Industrial Chemicals, and Performance Products, under which it manufactures products such as acrylics, synthetic resins, PVC, polymers, hydrogen peroxide, vinyl compounds, pipes, PMMA, HCFCs, and chlorine compounds.
In 2018, the company recorded annual sales of around EUR 8.8 billion. Committed to active engagement, the company’s research centres in North America, France, and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight and design, home efficiency, and insulation. As of 2018, the company is operational in about 55 countries and employs around 20,000 people across the world.
The global acrylic acid market reached a volume of around 6.3 million metric tons in 2019 and is further expected to grow at a CAGR of 4.7% between 2020 and 2025. The global acrylic acid market is being driven by the growing construction, superabsorbent, and automobile industries, particularly in emerging economies. The demand for the product is mainly driven by its use as a super absorbent polymer to produce products like disposable baby diapers, feminine hygiene products, and others.
As this new reactor is equipped with the latest production technologies, it can replace two decommissioned reactors of 45,000 tons each. The successful and on schedule inauguration of the reactor by the company marks its effort to be a global leader by supporting the growth of its market in North America. This expansion will aid the customers in markets such as superabsorbents, paints and coatings, polymers for water treatment, and enhanced oil and gas recovery. This strategic decision consolidates Arkema’s position as the second largest acrylic acid producer in the region, further providing a boost to the global acrylic acid industry.
Moreover, the Arkema group ensures the protection and safety of people and the environment by manufacturing products that do not harm the environment. It manages the product life cycle in compliance with its commitments to Corporate Social Responsibility and regulatory requirements (CSR), aiming to contribute to societal goals. The Arkema group is pursuing its efforts to diminish its environmental footprint and taking steps to favour renewable raw materials, which will further aid the company growth in the future.
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