Eastman Chemical Co - Company Profile
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Business Description
Eastman Chemical Co (Eastman), a specialty additives company, produces and markets advanced materials, additives and functional products, specialty chemicals, and fibers.
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R&D Overview
Its research and development (R&D) efforts focus on developing novel products and technology platforms. The company's R&D strategy for sustainable growth includes multi-generational product development for specialty products, faster and more differentiated product development by harnessing its application development capabilities and creating value through integration of multiple technology platforms. In FY2022, it spent US$264 million on R&D, which as a percentage of revenue, stood at 2.5%. As of December 2022 the company obtained 800 US patents, more than 1,400 foreign patents and over 4,800 active worldwide trademark applications and registrations.
Business Segments
Overview
Manufactures chemicals such as coatings and inks additives; adhesives resins; tire additives; care chemicals; specialty fluids; animal nutrition and crop protection for transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets. Major technology platforms are cellulose esters, polyester polymers, insoluble sulfur, hydrocarbon resins, alkylamine derivatives, and propylene derivatives. Some of its major brands include Tetrashield, Texanol, Optifilm, Piccotac, Regalite, Eastotac, Eastoflex, Aerafin and Santoflex among others. In FY2022, the segment’s capital expenditure stood at US$98 million, which increased 1% YoY. Considers development of innovative product offerings and focus on expanding its operations further in end markets as the major factors for growth.
Performance
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Overview
Produces and markets polymers, films, and plastics for value-added end uses in transportation, consumables, durable goods, building and construction, and health and wellness markets. Major technology platforms include cellulose esters, copolyesters, polyvinyl butyral (PVB) and polyester films. Major brands include Tritan, Spectar, Eastar, Embrace, Saflex, Flexvue and Gila. In FY2022, the segment’s capital expenditure stood at US$341 million, which grew 21.8% YoY. Deems expanding the portfolio of higher margin products in attractive end markets and improving product mix from increased sales of premium products as the major factors for growth.
Performance
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Overview
Sells intermediates, plasticizers and functional amines for use in markets such as industrial chemicals and processing, building and construction, health and wellness, and agrochemicals. Major technology platforms include acetyls, oxos, plasticizers, polyesters, and alkylamines. Some of its major brands include Eastman 168, Benzoflex, TXIB and Effusion. In FY2022, the segment’s capital expenditure stood at US$98 million, which declined 20.9% YoY. Views focusing on cost control, operational efficiency, and capacity utilization to enhance its status as low cost producer and optimizing earnings as the critical factors for growth.
Performance
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Overview
Manufactures and sells cellulose acetate tow and triacetin plasticizers for use in filtration media, mainly cigarette filters. Its product line comprises triacetin, cellulose acetate flake, and acetyl raw materials for other acetate fiber producers. Some of its major brands include Estron, Estrobond, Chromspun and Naia. In FY2022, the segment’s capital expenditure stood at US$43 million, which grew 30.3% YoY. It considers focusing on innovation-driven growth model to maintain a leading industry position as the major contributor to growth.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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