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Global chlorinated polyethylene market forecast to reach $890.3 million by 2025  

Friday, October 20, 2017

Dublin, Ireland - The global chlorinated polyethylene market size is expected to reach $890.3 million by 2025, according to Research and Markets. The market is expected to exhibit significant growth owing to increasing demand for chlorinated polyethylene elastomers (CPE) due to their superior heat, temperature and oil resistance. In addition, increasing use of high performance chlorinated polyethylene in chemical industry owing to their non-corrosive properties, is expected to drive growth over the forecast period. Chlorinated polyethylene (CPE 135B) is expected to grow at a significant rate owing to increasing use of the product in rigid plastic applications such as PVC plastic profile, pipe fittings, waterproofing membranes and cable sheathing. Increasing use of CPE 135B as modifier and stabilizer of specials synthetic rubber owing to easy mixing with natural rubber is expected to drive the market growth over the forecast period. Increasing use of the product as impact modifier, anti-dripping agent and secondary flame retardant in Ignition resistant acrylonitrile butadiene rubber (IR ABS) owing to its higher thermal stability and heat resistance is expected to drive growth over the forecast period. The global chlorinated polyethylene market is highly fragmented, with a majority of production in China due to the presence of a large number of small scale manufacturers in the country providing the product at extremely low prices. - * Email

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Nexen Tire looks to a high-tech future in new Ohio technical center  

Friday, October 20, 2017

Akron, OH - Ohio.com reports: "A bit more than a year from now, Korean tire maker Nexen expects its U.S. technology center employees to move into a new, state-of-the-art facility in Richfield (OH). Company and public officials officially celebrated the groundbreaking for the $5 million, 34,000-square-foot America technical center. The new building is not only significant for Nexen and its ambitions to expand as a global tire maker (it makes more than 40 million tires a year), but also is significant for the village of Richfield. The Nexen Tire site is the first development in the village’s 60-acre mixed use Crossroads Development District. More room is why Nexen Tire is building the place, just about a quarter-mile from its current technology center off Highlander Parkway where 17 people now work designing and developing tires primarily for the North and South American markets. The locally designed Nexen tires are original equipment on many Fiat Chrysler vehicles, including the Chrysler Pacifica and Ram trucks. “We have a lot of expertise here,” said Aaron Neumann, Nexen Tire project manager. The new site, which the company hopes will be ready in November 2018, ahead of an official December completion date, will have room for more than 40 employees. “It’s going to be a huge expansion compared to what we have now,” Neumann said. It likely will take several years before the Richfield technical center reaches the 40 employee level, company officials said. It also took years to secure financing, make design refinements and other dealings; the original plans were announced in May 2012. The two-story technical center will focus on tire design and development. It will include a full materials laboratory, testing facilities (using made-in-Ohio machinery), warehouse, offices, cafeteria and other space. The Richfield staff will continue working on next-generation tires with built-in sensors and more that can be used on electric and autonomous vehicles at the new facility, Neumann and others said. A top goal is to design tires that are “invisible” to whoever is using the vehicle, Neumann said. Nexen Tire has committed to building a highly automated North America tire factory with production expected to start in 2021. No location has been announced. The Richfield tech center will develop and design tires for that new factory. Nexen’s history dates to 1942 as Heung-A Tire and then Woosung Tire in South Korea. The name was changed in 2000 to Nexen, a blend of “next” and “century.”" - * Email

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McLube

Yokohama Tire names Andrew Briggs vice president of marketing and product management  

Friday, October 20, 2017

Santa Ana, CA - Yokohama Tire Corporation (YTC) announced that Andrew Briggs has been promoted to the newly created position of vice president of marketing and product management. Briggs, who will report to Jeff Barna, YTC’s COO, replaces Fred Koplin, senior director of marketing and motorsports, who has retired. Briggs has been with Yokohama for 14 years. He joined YTC in 2003 and has held several positions including account manager, senior manager of motorsports, and senior director of marketing, product planning and motorsports. Briggs was promoted to senior director of tire business and product planning in 2015. He earned his MBA from University of California, Irvine and has a degree in Business Administration with an emphasis in Marketing from California State University, Long Beach. “As senior director of tire business and product planning, Andrew was instrumental in successfully introducing several new products to the market, while also reinforcing the value created by our analytics and customer service teams,” Barna said. “In his expanded role, Andrew will be responsible for leveraging the company’s product plan into a cohesive marketing and motorsports strategy for North America, while continuing to provide direct supervision to customer service and tire business planning.” Koplin retires after 12 years with YTC. “Fred was adept at forging long-standing and trusting relationships with many of YTC's most prolific distributor and dealer customers, while also consummating a number of strategic sponsorships with major sports and auto racing teams,” said Barna. “Fred is a consummate professional and we thank him for his many accomplishments while serving in leadership roles here at YTC.” - * Email

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Renault contracts with Iranian tire company Yazd Tire, to supply tires for Algerian operations  

Friday, October 20, 2017

Tehran, Iran - Iranian major tire producer Yazd Tire has concluded a deal to sell tires to France's car maker Renault's Algerian operations, the Iranian media reported. Under the deal, 50,000 tires produced by Yazd in central Iran will be exported to Algeria to be used by the French car giant in its Algerian manufacturing plant in the northwestern port city of Oran, the Financial Tribune daily reported. Renault's office in Tehran told Financial Tribune that the company is working with Yazd Tire, without disclosing details. Mohammad Reza Ganji, chairman of Iran Tire Industry Association, said that Renault has agreed to help facilitate exports from Yazd Tire. "The French automotive company has placed Yazd Tire on its list of trusted suppliers," Ganji was quoted as saying. Yazd Tire produces tires for passenger vehicles, heavy-duty trucks, bicycles and motorcycles. It has an annual output of 3.5 million tires with an estimated 10-12 percent share in the local market. The firm has previously signed a deal with the Netherlands-based tire manufacturer Apollo Vredestein B.V. to produce tires under the Dutch license. Yazd Tire CEO Eskandar Sotoudeh said his company has shipped products worth of 10 million U.S. dollars to countries in Africa, Central Asia and the Middle East during the past Iranian calendar year that ended on March 20, 2016. - * Email

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Global nitric acid market forecast to reach $20.4 billion by 2022  

Friday, October 20, 2017

Albany, NY - The global nitric acid market is projected to rise from a valuation of $16,839.5 million in 2017 to reach $20,420.8 million by the end of 2022. The worldwide market is forecast to rise at a CAGR of 3.9 percent during 2017–2022, according to Transparency Market Research. Nitric acid is widely used as a prominent raw material for making a number of commercially useful chemicals in several industries, including pharmaceuticals, aerospace and defense. World over, nitric acid has wide adoption in making fertilizers such as ammonium nitrates. Nitric acids are extensively used in the making of a variety of coal tar products such as dyes and perfumes, agrochemicals, and in the purification of metals such as gold, silver and platinum. The use of nitric acid in the compounds as intermediates in making explosives and munitions has gained traction in the defense industry in various countries. Recent advancements in manufacturing technology and handling methods bodes well for the market. The rising use of concentrated nitric acid in making synthetic rubbers and elastomers is further accentuating the market. Of all the end uses of nitric acid, the use of nitric acid in manufacturing fertilizers remains dominant. The wide use of the compound in making calcium nitrates and ammonium nitrates and several other nitrogenous fertilizers is a prominent factor catalyzing the growth of nitric acid market. The fertilizer end-use segment is projected to generate a revenue of $16,105.9 million by the end of 2022. Regionally, Europe is the most attractive market for nitric acid. The regional market holds the leading revenue share and is predicted to be worth $11,636.1 million by the end of 2022. - * Email

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