Innospec Plans to Acquire Surfactant Business Unit of Huntsman Corporation

United States: Innospec Inc., a US based leading global specialty chemicals company, has agreed to acquire European surfactants business of Huntsman Corporation. The deal, valued at USD225 million, is expected to close by the fourth quarter of 2016. According to the agreement, Innospec would acquire Huntsman manufacturing units located in Italy, France and Spain. Huntsman Corporation is a US based company involved in manufacturing and sales of various chemicals and served to various industries such as chemicals, automotive, textile, Construction, plastics, healthcare etc. The Huntsman would remain devoted to its United States and Australia global surfactants business, and would work with Innospec to enable superior marketing of the surfactants.

TechSci Research depicts that the acquisition of Huntsman's European Surfactants Business by Innospec Inc. would increase the share of Innospec in global surfactant market. Moreover, the companies would be able to utilize their existing marketing and distribution channels more effectively. Moreover, the surfactants are widely used in chemicals industry, which will boost the cleaning chemicals market as well.

According to the recently published report by TechSci Research, “India Cleaning Chemicals Market Forecast & Opportunities, 2020”, the market for cleaning chemicals in India is projected to grow at a CAGR of more than 21% during 2015-2020. Growing health awareness, rising number of initiatives by the government as well as private companies on educating masses about cleanliness, increasingly stringent safety standards, surging demand for residential spaces in the country on account of rising urban population and growing use of cleaning chemicals in food and beverages processing, drug manufacturing, healthcare set-ups, etc., are the major factors boosting demand for cleaning chemicals in the country.