Avient expanding colour concentrate capabilities in Vietnam
The materials supplier will complete an expansion of its colour concentrates plant in Binh Duong, Vietnam in February.
Materials supplier Avient Corp. will complete an expansion in February at a colour concentrates plant in Binh Duong, Vietnam.
“Demand for plastics has become one of the Vietnam economy’s fastest growth areas,” Say-Eng Lee, vice president and general manager, colour and additives Asia for Avient, said in a statement. “As consumption grows, requirements for high-quality colour concentrates are becoming more challenging as well, as top brands focus on novel color solutions. We have increased our production space by over 30 per cent and added to our state-of-the-art machinery portfolio to shorten lead times for developing and producing high-quality color concentrates.”
Avient officials cited a report from Vietnam Economic News that says Vietnam’s plastics industry is currently experiencing an annual growth rate of 16 to 18 per cent, with key segments including packaging, construction and electronics. “[Our] enhanced local turnaround for colour concentrates will support middle to high end markets with consistent colour quality, creative application of special effects, and unique colours to enhance product appeal and match branding requirements,” Avient said. “With the expansion, [we] will also improve lead times for colour matching locally.”
Avient was formerly known as PolyOne Corp. until the acquisition of the colour masterbatch businesses of Clariant and Clariant Chemicals India Ltd. in July 2020., at which point it changed its name. Headquartered in Avon Lake, Ohio, the firm employs approximately 9,100 workers globally.