AkzoNobel Specialty Chemicals, the global paint & coatings industry major, in its recent announcement has unveiled that it has officially started the construction of its organic peroxide production facility in China. Reportedly, the company will be investing around €90 million to develop its state-of-art facility.
According to reports, the new plant will be sited in the Tianjin Nangang Industrial Zone and will take the place of the company’s existing organic peroxides plant. The new facility is expected to optimize urban planning & produce an industrial upgrade for the regional chemical industry.
For the record, organic peroxide is witnessing remarkable demand as they are important for the production of a myriad range of polymers including thermoset resins and PVC.
The facility, depending on the product line will provide overall capacity expansion of 30% to 70% to support customer growth and is slated to be completed by the second quarter of 2020, cite reliable reports.
Speaking at a special ceremony, the Regional Sales Director Polymer Chemistry, Jack Li, was quoted stating that the demand for organic peroxide is witnessing a perpetual increase in Asia as well as across the globe. He further revealed that the end-use market for organic peroxides is growing yearly between the rate of 5% to 6% in China, which is clearing outpacing the growth compared to the rest of the worldwide markets.
To meet the stringent regulatory requirements of the China government, the company will be significantly focusing on improving the sustainability at the new facility, cites Johan Landfors, Executive Committee Member, Polymer Chemistry. He further revealed that the company will be installing innovative technology that will minimize the energy consumption & wastewater discharge as well as streamline their production process.
Sources familiar with the matter further reveal that AkzoNobel has partnered with the Tianjin Economic-Technological Development Area that will not only help them to construct the facility but also meet the needs of the city and customers.