The Great Supply Chain Crisis of 2021-2022 acted as a very loud and exceptionally clear wakeup call for all participants within the specialty chemicals value chain. As we move forward, everything needs to be re-examined in the light of the crisis.
"The pace of the global macroeconomic recovery has been slower than expected. We remain focused on working capital, reducing costs, and matching our operating rates to current demand," said Jim Fitterling, Chair and Chief Executive Officer.
“We saw a continuation of the dynamics of the first quarter, marked by positive volume momentum across most of our businesses. There was still pressure on prices,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE.
The coatings resins market is poised for remarkable growth driven by a confluence of factors, including technological advancements, increased demand across various industries, and a growing emphasis on sustainability. This article delves into the key drivers, market trends, challenges, and opportunities shaping the future of the resins market.
The results show revenue is up compared to Q2 last year, but on the half-year, revenue is flat, pushing the company towards the lower end of its year-end guidance.
Strong performance in the Paint Stores Group led the company's results, maintaining expectations, however the Consumer Brands Group continues to be impacted by lower DIY demand.
"As we execute on various enterprise growth initiatives and capitalize on our technical and service capabilities, we expect positive momentum in driving improved sales volumes will broaden within our business portfolio," said company Chairman and CEO, Tim Knavish.
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