Global polymer dispersions market to cross USD10 bln by 2022

MOSCOW (MRC) -- The global polymer dispersions market is projected to reach USD10.27 bln by 2022 at a CAGR of 8%, in terms of value, as per Plastemart with reference to Research and Markets.

Growing use of polymer dispersions in coating and carpet & fabrics is a prime factor in the growth of the polymer dispersions market. The positive growth of this market is attributed to the increasing polymer dispersions applications in green coating applications.

PU dispersions are projected to be the fastest-growing resin type segment in the polymer dispersions market during the forecast period because of its increasing application in nonwoven hygiene products. Some other major applications of PU dispersions are used in coating, paper coating, textile & leather finishing, and others. Vinyl is another major segment, which is expected to grow significantly during the forecast period.

The polymer dispersions market in the Asia-Pacific region is expected to grow at the highest rate during the forecast period, in terms of value and volume. Rising economic growth rate, growing manufacturing industries, availability of cheap labor, increasing foreign investments, and rise in the applications of polymer dispersions across decorative & protective coating applications are some of the major factors expected to fuel the growth of the market. Increasing demand in countries such as China, India, Thailand, and Malaysia are expected to drive the growth of the market in the Asia-Pacific region.

We remind that, as MRC reported earlier, the global biodegradable polymer market was valued at around USD1.68 bln in 2014 and is expected to reach approximately USD5.18 bln in 2020, growing at a CAGR of slightly above 21% between 2015 and 2020, according to Zion Market Research.

MOL Q2 beats forecasts, raises full-year EBITDA

МОSCOW (MRC) -- MOL said the clean current-cost-of-supplies (CCS) EBITDA of its petrochemical division fell 18% in the second quarter to forint (Ft) 37.6bn (USD147m) from a restated figure of Ft46.1bn a year ago, as per the company's press release.

Second-quarter net profit rises to 88.8 billion forints from 79.1 billion in the second quarter of 2016; vs 93.9 bln in the first quarter of 2017

Core profit, or so-called clean EBITDA (earnings before interest, taxes, depreciation and amortisation), jumps to 192.7 billion forints in the second quarter, rising 22 percent from 158.5 bln in same period of 2016.

EBITDA comes in above analysts' median forecast of 177.9 billion forints. Net profit also above forecast of 70.1 billion forints.

First-half result gives basis for raising full-year 2017 clean EBITDA guidance to above $2.3 billion from 2.0 bln - chairman and chief executive Zsolt Hernadi says in report.

Organic capex guidance cut to around USD1 bln.

Downstream clean EBITDA rises 8 percent year on year to 186 billion forints.

Upstream EBITDA jumps 37 percent year-on-year to 64 billion on higher oil prices, 5.6 bln florints one-off cash collection in Egypt.

As MRC informed before, in November 2016, MOL Group revealed plans to invest USD1.9bn until 2021 to develop its petrochemicals business. For the next five years, the company will focus on improving yield of propylene and investment into attractive propylene derivatives.

MOL Hungarian Oil and Gas PLC is an integrated oil and gas company. The Company produces crude oil, petroleum products, bitumens, lubricants and natural gas. MOL owns and operates refineries, oil and gas pipelines, service stations, and natural gas storage facilities.


Jacobs to acquire CH2M to create USD15 B global solutions provider

MOSCOW (MRC) -- Jacobs Engineering Group Inc. and CH2M HILL Companies Ltd. have announced that they have entered into a definitive agreement under which Jacobs will acquire all of the outstanding shares of CH2M in a cash and stock transaction with an enterprise value (EV) of approximately USD3.27 B, including approximately USD416 MM of CH2M net debt, as per Hydrocarbonprocessing.

The combination unites two industry-leading, innovative companies with complementary capabilities, cultures and relationships, resulting in a differentiated, end-to-end value proposition for clients and an enhanced platform for sustainable, profitable growth, the company stated in a press release.

With trailing twelve month (TTM) revenues of USD4.4 B and a team of 20,000 employees, CH2M is a design, engineering and program management firm, and is a leader in key infrastructure and government service sectors that Jacobs has previously targeted for growth, including water, transportation, environmental and nuclear. Applying CH2M’s advanced design, technical and program management expertise across Jacobs’ global footprint will enable the combined company to deliver more solutions to more clients in both the government and private sector.

According to the company, the transaction combines both companies’ superior engineering skills and proven construction management of high tech facilities to result in world-class, clean manufacturing expertise. This differentiated, end-to-end offering will better position Jacobs to respond to cyclical customer requirements in this sector.

The transaction also enhances Jacobs’ existing position in the petroleum and chemicals industry by providing additional operational and maintenance capabilities for upstream and midstream clients and enabling infrastructure for major petroleum and chemicals projects.

As MRC wrote before, in 2015, Jacobs Engineering Group was awarded an engineering, procurement and construction management (EPCM) contract from Celanese Corp. for the construction of a vinyl acetate ethylene (EVA) emulsions production plant at Jurong Island, Singapore.

Besides, in May 2016, Jacobs Engineering Group was awarded a contract to provide engineering services for the expansion of Mitsubishi’s polyester film plant in Greenville County, South Carolina. Mitsubishi Polyester Film is the American subsidiary of Japan-based Mitsubishi Plastics. and the largest polyester film plant in the US.

AkzoNobel increases expandable microspheres capacity

MOSCOW (MRC) -- AkzoNobel has announced that its Specialty Chemicals business is investing more than EUR 20 million to increase production capacity of its Stockvik facility near Sundsvall, Sweden, for its Expancel product line of expandable microspheres, as per GV.

Completion is expected by the end of 2018. According to AkzoNobel, the company is seeing a strong increase in demand for the product and the expansion will ensure its ability to serve customers globally. The expandable microspheres are used in a number of growth markets, such as food packaging, paints and the automotive industry.

As MRC informed previously, in December 2016, AkzoNobel finalized the acquisition of BASF’s global Industrial Coatings business, which supplies a range of products for industries including construction, domestic appliances, wind energy and commercial transport, strengthening its position as the global number one supplier in coil coatings. The transaction includes relevant technologies, patents and trademarks, as well as two manufacturing plants in the United Kingdom and South Africa.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.

Indian BPCL buys first cargo of US WTI Midland oil

MOSCOW (MRC) -- State-run Bharat Petroleum Corp has bought 1 MMbbl of low-sulfur WTI Midland grade, the first purchase of the US grade by an Indian company, through a tender, an industry source with knowledge of the deal said, reported Reuters.

The refiner is seeking delivery of the oil in October, the source added, without elaborating.

The cargo was sold to BPCL by the Emirates National Oil Company (ENOC) at a price linked to Brent, a second person said, adding that its pricing was competitive against West African oil.

"If this crude suits BPCL's system then it could buy more US sweet oil," he said.

A spokesman for BPCL could not comment immediately, while ENOC didn't answer a call seeking comment.

Refiners in India, the world's third-biggest oil consumer, are diversifying crude imports as cheaper alternatives have emerged due to a global supply glut despite OPEC and some non-OPEC producers cutting output to try to jack up prices.

India is the latest Asian country to buy US crude, following South Korea, Japan, China, Thailand, Australia and Taiwan, after the OPEC cuts drove up prices of Middle East heavy-sour crude, or grades with a high sulfur content.

BPCL last month made its first purchase of US oil, buying high sulfur crudes Mars and Poseidon.

Indian refiners stepped up purchase of the US oil after Indian Prime Minister Narendra Modi's visit to the Washington in June when President Donald Trump said the United States looked forward to exporting more energy products to the world's third-biggest oil buyer.

As MRC informed before, Bharat Petroleum Corporation plans to invest Rs. 4,800 crore in the propylene derivative petrochemical project in Kochi. Propylene for the project will be sourced from the expanded refinery. The capacity of the refinery is being raised from 9.5 mln tpa to 15.5 mln tons.

Bharat Petroleum Corporation Limited (BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, India. Bharat Petroleum owns refineries at Mumbai, Maharashtra and Kochi, Kerala (Kochi Refineries) with a capacity of 12 and 9.5 million metric tonnes per year.