Add Chemours Co., Trinseo and Huntsman Corp. to the list of plastics-related firms that did well financially in 2021.
Wilmington, Del-based Chemours saw sales for the year jump 26 percent to $6.3 billion, with profit almost tripling to $608 million. Plastics-related products made by Chemours include fluoropolymers, fluoroelastomers and titanium dioxide, a common plastics whitener.
Chemours' Titanium Technologies unit, including TiO2, saw sales grow almost 42 percent to $3.4 billion. Sales at the firm's Advanced Performance Materials unit, including fluoropolymers, were up 27 percent to $1.4 billion.
"The work our teams have done, and the results we have delivered in 2021, built the momentum for stronger results in 2022," President and CEO Mark Newman said in a news release. "Our outlook reflects our belief in a continued economic recovery from the challenges caused by the global pandemic and a normalization of supply chains early in 2022."
At Berwyn, Pa.-based Trinseo, 2021 sales soared almost 78 percent to $4.8 billion, as profit from continuing operations increased more than four times to $280 million.
Sales in Trinseo's Base Plastics unit, including polycarbonate and ABS, were up 63 percent to $1.5 billion. The firm's polystyrene unit — not including its Americas Styrenics joint venture — saw sales growth of 60 percent to $1.1 billion. Trinseo's Engineered Materials group, including acrylic resin and sheet, had sales increase almost four times to $755 million.
Trinseo had an incredibly busy year in 2021. In November, the firm announced plans to sell its PS unit, including resin and feedstocks. That sale would include PS units in Belgium, Germany, Hong Kong and Indonesia and styrene monomer units in Germany and the Netherlands.
The sale also will include AmSty, Trinseo's 50-50 joint venture with Chevron Phillips Chemical Co. AmSty operates five PS resin plants in the U.S., as well as one in Colombia and a stryrene monomer unit in St. James, La.
Trinseo also made two major acquisitions in 2021, buying acquired acrylic sheet maker Aristech Surfaces LLC of Florence, Ky., for $445 million and acquiring Dutch plastic waste collection and recycling company Heathland BV for an undisclosed price.
"We closed out 2021 with healthy earnings and strong cash generation despite significant external headwinds," President and CEO Frank Bozich said in a news release. "2021 was a significant year for Trinseo, as we took meaningful steps toward transforming into a specialty materials and sustainable solutions provider."
For Huntsman, based in The Woodlands, Texas, 2021 brought sales of $8.5 billion, up almost 42 percent vs. 2020, and profit of $1.1 billion, up four percent.
The firm's polyurethanes business saw sales grow almost 39 percent to just over $5 billion. That unit's adjusted EBITDA soared 86 percent to $879 million for the year.
"We concluded 2021 with the best year in our history with our current portfolio of businesses," Chairman, President and CEO Peter Huntsman said in a news release. He added that in 2022, the firm will complete its MDI splitter project in Geismar, La., and will expand its differentiated PU business in the Americas.
Huntsman also will continue to invest in projects for electric vehicle batteries, semi-conductors and PU catalysts. "We are now a focused, differentiated chemical company with a strong balance sheet providing financial flexibility to grow the company through organic investments and select bolt-on M&A," Huntsman said.