By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
The Performance Products division of Huntsman Corporation (NYSE: HUN) today announced that it is going ahead with the engineering design for a 40,000 tonne capacity expansion program at its world-scale polyetheramine facility in Singapore.
The Performance Products division of Huntsman
Corporation (NYSE: HUN) today announced that it is going ahead with the
engineering design for a 40,000 tonne capacity expansion program at its
world-scale polyetheramine facility in Singapore.
Huntsman plans to invest more than $70 million at its Jurong Island plant in a
move that will more than double the site's manufacturing capabilities, help
satisfy increasing global demand for polyetheramines and strengthen the
company's leadership position in this technology. In the last five years,
Huntsman ? the world's leading polyetheramine producer ? has seen interest in
its JEFFAMINE? amines accelerate dramatically.
Polyetheramines are typically employed in epoxy coatings or in additives that
enhance the performance of fuels, concrete and pesticides. With new amine
applications emerging all the time, Huntsman is forecasting significant mid-term
growth in the sector.
Stu Monteith President of Huntsman's Performance Products division said: "When
our Jurong site first opened in 2007 it was designed to produce 16,000 tons of
polyetheramines per annum. However, in the last few years demand has begun to
outstrip production capabilities across our three main production sites in
Singapore; Conroe, Texas; and Llanelli in Wales. Adding this extra 40,000 tons
of capacity in Asia is in line with our regional growth projections for the next
decade and will optimize our global manufacturing footprint for specialty
amines, enabling us to flex and respond more quickly to customer requirements."
Although Huntsman already has a significant position in the market, it expects
demand for its JEFFAMINE? amines range to intensify across all regions over the
next decade, particularly in Asia-Pacific ? where volume is set to grow by at
least 10% per year.