Hexion Specialty Chemicals, Inc., which provides thermoset technologies and specialty products for the wood and industrial markets, announced on Feb. 9 that it will build a manufacturing plant in Onsan, Korea. The plant will be constructed within an existing Hexion manufacturing complex in Onsan.
The plant will produce Cardura monomer, a Versatic Acid derivative used as a key raw material in environmentally advanced paints and coatings. It is used extensively as a key ingredient in environmentally advanced coatings such as automotive clear coats, coil coatings and marine coatings where high solid, water-based formulations and low VOCs (volatile organic compounds) are desired.
"It is part of our continuing effort to improve the assured global supply of Versatic acids and derivatives to meet our customers' needs as they, in turn, increasingly reformulate their products for enhanced environmental performance," said Jorrit Klaus, Vice President, Versatics, Hexion.
The company points out that the market for Versatic acids and derivatives has experienced strong growth over the past several years driven by the demand for more environmentally advanced paints and coatings.
"We expect this growth in demand to continue. The automotive industry has been especially interested in these materials for both OEM and refinishing applications. Our actions today reflect our commitment to help customers create and plan for newer and lower emitting technologies going forward," Klaus said.