Avient Corporation

Last updated
Avient Corporation
FormerlyPolyOne Corporation
(2000–2020)
Company type Public
IndustryPlastics
FoundedAugust 31, 2000;23 years ago (2000-08-31)
Headquarters Avon Lake, Ohio, U.S.
Key people
Ashish Khandpur, CEO
ProductsSpecialty polymer materials and compounds
RevenueIncrease2.svg US$3.28 billion (2023)
Number of employees
9,700 (2022)
Website avient.com
Footnotes /references
[1]

Avient Corporation is a global manufacturer of specialized polymer materials headquartered in Avon Lake, Ohio. Its products include thermoplastic compounds, plastic colorants and additives, thermoplastic resins, vinyl resins, thermoplastic composites and specialty thermoset composite materials.

Contents

History

PolyOne logo PolyOne Corporation logo.svg
PolyOne logo

PolyOne was formed on August 31, 2000 from the consolidation of The Geon Company (Geon) and M.A. Hanna Company (Hanna). The merger between M.A. Hanna Company and The Geon Company in 2000 produced PolyOne Corporation. [2] In 2009, PolyOne was ranked #731 on the Fortune 1000 list and included in the S&P 600 investment index. [3]

Hanna was formed in 1885 as a privately held company focused on mining and shipping and became publicly held in 1927. In the mid-1980s, Hanna began to divest its historic mining and shipping businesses to focus on polymers. Hanna purchased its first polymer company in 1986.[ citation needed ]

Geon’s roots date back to 1927 when BFGoodrich scientist Waldo Semon produced the first usable vinyl polymer, marketed under the trade name “Geon”. In 1933, Waldo Semon was granted US Patent for PVC (U.S. Patent No. 1929453), [4] and in 1948, BFGoodrich created a vinyl plastic division that was subsequently spun off through a public offering in 1993, creating Geon as a separate publicly held company.[ citation needed ]

In October 2019, PolyOne sold its performance products and solutions business unit, renamed to GEON Performance Solutions, to SK Capital. [5] [ better source needed ]

In 2020, PolyOne acquired a division of Clariant and rebranding to the name Avient, [6] [ better source needed ] and in 2021 acquired Magna Colours Ltd. for $48 million. [7] [ better source needed ]

In April 2022, Avient Corporation has entered into an agreement with Royal DSM to purchase the DSM Protective Materials business for a purchase price of $1.485B. [8]

Related Research Articles

<span class="mw-page-title-main">Polyvinyl chloride</span> Common synthetic polymer

Polyvinyl chloride (alternatively: poly(vinyl chloride), colloquial: vinyl or polyvinyl; abbreviated: PVC) is the world's third-most widely produced synthetic polymer of plastic (after polyethylene and polypropylene). About 40 million tons of PVC are produced each year.

<span class="mw-page-title-main">Thermoplastic</span> Plastic that softens with heat and hardens on cooling

A thermoplastic, or thermosoftening plastic, is any plastic polymer material that becomes pliable or moldable at a certain elevated temperature and solidifies upon cooling.

<span class="mw-page-title-main">Waldo Semon</span> American inventor (1898-1999)

Waldo Lonsbury Semon was an American inventor born in Demopolis, Alabama. He is credited with inventing methods for making polyvinyl chloride useful.

<span class="mw-page-title-main">Thermosetting polymer</span> Polymer obtained by irreversibly hardening (curing) a resin

In materials science, a thermosetting polymer, often called a thermoset, is a polymer that is obtained by irreversibly hardening ("curing") a soft solid or viscous liquid prepolymer (resin). Curing is induced by heat or suitable radiation and may be promoted by high pressure or mixing with a catalyst. Heat is not necessarily applied externally, and is often generated by the reaction of the resin with a curing agent. Curing results in chemical reactions that create extensive cross-linking between polymer chains to produce an infusible and insoluble polymer network.

<span class="mw-page-title-main">Polyvinylidene fluoride</span> Non-reactive thermoplastic fluoropolymer

Polyvinylidene fluoride or polyvinylidene difluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer produced by the polymerization of vinylidene difluoride. Its chemical formula is (C2H2F2)n.

<span class="mw-page-title-main">Polyphenylene sulfide</span> Organic polymer with industrial applications

Polyphenylene sulfide (PPS) is an organic polymer consisting of aromatic rings linked by sulfides. Synthetic fiber and textiles derived from this polymer resist chemical and thermal attack. PPS is used in filter fabric for coal boilers, papermaking felts, electrical insulation, film capacitors, specialty membranes, gaskets, and packings. PPS is the precursor to a conductive polymer of the semi-flexible rod polymer family. The PPS, which is otherwise insulating, can be converted to the semiconducting form by oxidation or use of dopants.

<span class="mw-page-title-main">DSM (company)</span> Dutch multinational corporation

Koninklijke DSM N.V., was a Dutch multinational corporation active in the fields of health, nutrition and materials. Headquartered in Heerlen, at the end of 2017 DSM employed 21,054 people in approximately 50 countries and posted net sales of €8.632 billion in 2018 and €9.204 billion in 2021. In May 2023 it merged with the Swiss company Firmenich to form a new entity named DSM-Firmenich.

<span class="mw-page-title-main">Ethylene-vinyl acetate</span> Chemical compound

Ethylene-vinyl acetate (EVA), also known as poly(ethylene-vinyl acetate) (PEVA), is a copolymer of ethylene and vinyl acetate. The weight percent of vinyl acetate usually varies from 10 to 50%, with the remainder being ethylene. There are three different types of EVA copolymer, which differ in the vinyl acetate (VA) content and the way the materials are used.

<span class="mw-page-title-main">Polyphthalamide</span>

Polyphthalamide is a subset of thermoplastic synthetic resins in the polyamide (nylon) family defined as when 55% or more moles of the carboxylic acid portion of the repeating unit in the polymer chain is composed of a combination of terephthalic (TPA) and isophthalic (IPA) acids. The substitution of aliphatic diacids by aromatic diacids in the polymer backbone increases the melting point, glass transition temperature, chemical resistance and stiffness.

Kraton is the trade name given to a number of high-performance elastomers manufactured by Kraton Polymers, and used as synthetic replacements for rubber. Kraton polymers offer many of the properties of natural rubber, such as flexibility, high traction, and sealing abilities, but with increased resistance to heat, weathering, and chemicals.

<span class="mw-page-title-main">Hot-melt adhesive</span> Glue applied by heating

Hot-melt adhesive (HMA), also known as hot glue, is a form of thermoplastic adhesive that is commonly sold as solid cylindrical sticks of various diameters designed to be applied using a hot glue gun. The gun uses a continuous-duty heating element to melt the plastic glue, which the user pushes through the gun either with a mechanical trigger mechanism on the gun, or with direct finger pressure. The glue squeezed out of the heated nozzle is initially hot enough to burn and even blister skin. The glue is sticky when hot, and solidifies in a few seconds to one minute. Hot-melt adhesives can also be applied by dipping or spraying, and are popular with hobbyists and crafters both for affixing and as an inexpensive alternative to resin casting.

<span class="mw-page-title-main">Polyester</span> Category of polymers, in which the monomers are joined together by ester links

Polyester is a category of polymers that contain the ester functional group in every repeat unit of their main chain. As a specific material, it most commonly refers to a type called polyethylene terephthalate (PET). Polyesters include naturally occurring chemicals, such as in plants and insects, as well as synthetics such as polybutyrate. Natural polyesters and a few synthetic ones are biodegradable, but most synthetic polyesters are not. Synthetic polyesters are used extensively in clothing.

<span class="mw-page-title-main">Clariant</span> Swiss specialty chemicals company

Clariant AG is a Swiss multinational speciality chemical company, formed in 1995 as a spin-off from Sandoz. Headquartered in Muttenz, Switzerland, the public company encompasses 74 subsidiaries in 36 countries (2022). Major manufacturing sites are located in Europe, North America, South America, China, and India. In 2022, sales from continuing operations were 5.198 billion CHF.

<span class="mw-page-title-main">Acrylic resin</span> Thermoplastic or thermosetting plastic

An acrylic resin is a thermoplastic or thermosetting plastic substance typically derived from acrylic acid, methacrylic acid and acrylate monomers such as butyl acrylate and methacrylate monomers such as methyl methacrylate. Thermoplastic acrylics designate a group of acrylic resins typically containing both a high molecular weight and a high glass transition temperature which exhibit lacquer dry capability. Acrylic resins designed for use in two component systems for crosslinking with isocyanate are referred to as polyols and are made with the monomers previously mentioned as well as hydroxy monomers such as hydroxy ethyl methacrylate. Acrylic resins are produced in different liquid carriers such as a hydrocarbon solvent or water in which case they are referred to as emulsions or dispersions and they are also provided in 100% solids bead form.

<span class="mw-page-title-main">Laminated glass</span> Type of safety glass with a thin polymer interlayer that holds together when shattered

Laminated glass is a type of safety glass consisting of two or more layers of glass with one or more thin polymer interlayers between them which prevent the glass from breaking into large sharp pieces. Breaking produces a characteristic "spider web" cracking pattern when the impact is not enough to completely pierce the glass.

Polymer engineering is generally an engineering field that designs, analyses, and modifies polymer materials. Polymer engineering covers aspects of the petrochemical industry, polymerization, structure and characterization of polymers, properties of polymers, compounding and processing of polymers and description of major polymers, structure property relations and applications.

<span class="mw-page-title-main">M. A. Hanna Company</span> Iron ore processing company

M. A. Hanna Company was an iron ore processing company located in Cleveland, Ohio, United States.

Poly(<i>p</i>-phenylene oxide) Chemical compound

Poly(p-phenylene oxide) (PPO), poly(p-phenylene ether) (PPE), poly(oxy-2,6-dimethyl-1,4-phenylene), often referred to simply as polyphenylene oxide, is a high-temperature thermoplastic with the general formula (C8H8O)n. It is rarely used in its pure form due to difficulties in processing. It is mainly used as blend with polystyrene, high impact styrene-butadiene copolymer or polyamide. PPO is a registered trademark of SABIC Innovative Plastics B.V. under which various polyphenylene ether resins are sold.

A masterbatch is a concentrated mixture of pigments and / or additives blended and extruded together in a carrier matrix, such as resin or wax, that is used to add these mixed additives to a final plastic product. The additives may be used for colouring or for imparting other properties. The typical alternative to using a masterbatch is to compound the plastic from raw undiluted additives.

<span class="mw-page-title-main">Biodegradable athletic footwear</span>

Biodegradable athletic footwear is athletic footwear that uses biodegradable materials with the ability to compost at the end-of-life phase. Such materials include natural biodegradable polymers, synthetic biodegradable polymers, and biodegradable blends. The use of biodegradable materials is a long-term solution to landfill pollution that can significantly help protect the natural environment by replacing the synthetic, non-biodegradable polymers found in athletic footwear.

References

  1. "PolyOne". Fortune. Archived from the original on 2019-02-15. Retrieved 2019-02-14.
  2. Case Western Reserve, Encyclopedia of Cleveland History: M. A. Hanna
  3. "Fortune 500: 731. PolyOne".
  4. "Hall Of Fame - Inventor Profile". Archived from the original on 2010-07-28. Retrieved 2011-09-02.
  5. "SK Capital Closes Acquisition of Performance Products & Solutions from PolyOne, Creating New Leader in Plastic Compounds Named GEON Performance Solutions | SK Capital Partners".
  6. "PolyOne Completes Clariant Masterbatch Acquisition, Announces New Name: Avient Corporation | Avient".
  7. "Avient Expands Sustainable Solutions Portfolio with Acquisition of Magna Colours LTD. | Avient".
  8. "Avient agrees to acquire DSM Protective Materials for $1.485B | Seeking Alpha".