Evonik Industries AG Completes Acquisition of Air Products

Evonik Industries AG has completed the acquisition of Specialty Additives Business of Air Products

Germany: Evonik Industries AG, a leading manufacturer of specialty chemicals has completed the acquisition of Air Product’s specialty additives business (Performance Materials Division) based in the US. The acquisition deal between Evonik and Air Products closed at USD3.8 billion. Post-acquisition, Evonik Industries AG would swiftly merge its existing business activities with Air Products’ Performance Materials division. Moreover, this acquisition will strengthen Evonik’s product portfolio in the specialty & coating additives business.

TechSci Research depicts that by this acquisition, Evonik Industries AG would cater to the growing demand for specialty & coating additives in Europe and North America market. Additionally, it will Evonik in improving its market position over the coming years and aid the company to address the demand for specialty additives across the globe.

According to the recently published report by TechSci Research, “Global Pigments Market By Type, By Application, Competition Forecast and Opportunities, 2011 – 2021”, global pigments market size is estimated to cross US$ 34 billion by 2021. Segment-wise, inorganic pigments dominated the overall market in 2015, and this trend is anticipated to continue through 2021. Inorganic pigments are widely used in paints & coatings and plastics to provide various functional properties such as heat stabilization, antistatic, flame retardants, anti-block and UV stabilization. In 2015, Asia-Pacific region dominated the global pigments market, owing to huge presence of paints & coatings, plastics, construction and printing ink industries, coupled with increasing investments across diverse industry verticals.