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In the past few years, the global chemical industry has carried out a series of mergers and acquisitions. At present, although the concentration of some sub sectors, especially the industrial gas and agricultural chemicals industries, has reached a high point, there are still some sub sectors with opportunities for continued integration. Executives in relevant industries have recently said that they are still facing the pressure of business development and business portfolio optimization this year. Most observers believe that the hot spot of recent integration will be the paint / coating industry. Some industry giants may appear in the paint / coating industry with a market value of US $135 billion.

Coating industry becomes a hot spot for M & A

Although Sherwin Williams, an American coating giant, completed the acquisition of Valspar in June 2017 and became a world-famous coating manufacturer, it failed to make progress in the acquisition of the world's coating business in 2017.

Decentralized industries will be integrated and centralized

In addition to the coating industry, other chemical subdivisions will also be integrated. The adhesive industry is still scattered. The total market share of the world's five largest adhesive companies is less than 40%. "At present, there are many small companies or branches of some large companies in the adhesive industry." Jim Owens, President and CEO of H.B. Fuller, said that fuller still has many integration opportunities.

Private equity companies waiting to exit

In addition, smaller companies are also integrating. John tele? Vantos, a partner of Arsenal capital, said: "small private companies are looking for exit opportunities with high valuations and good returns." Arsenal is a private equity company focusing on chemical business. In recent years, its business has been in line with this development trend, including the acquisition of shares of Rohr company before 2015 and the acquisition of shares of IgM resin company in the Netherlands. John tevorvanos said: "IgM resin company was a distributor earlier, but now it is the only company engaged in the research of UV curing coating photoinitiators. In this field, some large companies have withdrawn. We bought two Chinese companies and combined them."

Pay more attention to core business

In addition to business integration, another trend is that the company pays more attention to core business. Radical investors are often the promoters of simplifying the company's product portfolio. Aggressive investors from Dow and DuPont pushed for the merger. In diversified companies such as Akzo Nobel, Ashland, Formosa and ferro, radical investors also directly or indirectly promote their strategic transformation. Almost all changes tend to simplify the business.

Lee Harrs said that Europe generally lags behind the United States in chemical restructuring, usually 3-5 years behind. Investors have now abandoned diversification and do not think that this situation will change in 2018. Enterprise integration and product portfolio restructuring may continue, and medium-sized diversified chemical companies will face a crossroads.

Source: Jiangsu Chemical Network