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Hitech Industries FZE
Speciality resins for a niche market Anupam Misra Chief Executive Officer Hitech Industries FZE
Hitech Industries FZE manufactures a wide range of solvent-based and water-based polymeric solutions
Niche segments on the rise Petrochemicals and construction chemicals mark notable investments
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»» Farhana Chowdhury
n essential component that forms the core of most industries, chemicals have long served various sectors as a primary element in a number of applications. Whether it is used as a base or a catalyst, they are used extensively in the construction and industrial arena, as well as for cleaning and mixing purposes. The chemicals industry leads as the second largest manufacturing sector in the GCC region, with around $108 billion worth of products recorded in the year 2015, and Gulf countries are heavily investing in the petrochemicals sector with a noted increase by 38 per cent in the same year.
According to the Gulf Petrochemicals and Chemicals Association (GPCA), the UAE recorded 13.7 million tonnes of petrochemical capacity in 2016, and with Saudi Arabia holds 74 per cent of the chemicals portfolio in the region. GPCA also states that the global demand for petrochemicals in particular is expected to grow by 4 per cent on an annual basis, further driving investments in sustainable products and processes. Looking deeper into niche segments, the global market for construction chemicals — that specialise in improving concrete performance, the lifeline of structures and ensuring protection from various weather hazards — is expected to reach $40.2 billion by
2022, according to Allied Market Research, with a compound annual growth rate (CAGR) of 5.6 per cent between 2016 to 2022. As eco-consciousness is on the rise, chemical manufacturers are looking to introduce products that provide optimum performance without damage to surroundings or people. The need for environment-friendly solutions, including logistics and transportation of hazardous content, is further fuelling the chemicals industry to create safe options. Organisations operating in the chemicals sector hold proper certification and acquire international quality marks to assure adherence to highest standards of safety and processes. — farhana@khaleejtimes.com
»» Farhana Chowdhury
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s one of the first resin companies to set up operations in the UAE, Hitech Industries FZE has been catering to the paint, adhesives, construction chemicals and composite industry for over 25 years. “We are among the leading manufacturers of solvent-based and water-based polymeric resins. Hitech Industries FZE is also one of the first companies to develop speciality resins in the region — be it epoxy hardeners, acrylic polyols for auto refinish paints and car putty resins. We are not only the key resin suppliers to the GCC market but also export to about 40 countries worldwide,” said Anupam Misra, its Chief Executive Officer. With a plant capacity of 50 KT per annum, Hitech Industries FZE specialises in a broad product range
of alkyd, acrylic, saturated and unsaturated polyester resins to hardeners for epoxy systems. In the coating segment, it features products that cover architectural, industrial, auto refinish, marine, can and coil coating applications. “We service core industries linked to construction and infrastructure segments. The UAE, particularly Dubai, has taken a lead in building advanced infrastructure, but there is a lot of scope for growth within the region as we approach Expo 2020,” Misra added. Looking ahead, Hitech Industries FZE plans to secure global approvals for its speciality products and expand sales and operations in new and emerging economies. It also aims to add more products to cater to its core customers and segments. — farhana@khaleejtimes.com
Hitech Industries FZE is one of the first companies to develop speciality resins in the region — be it epoxy hardeners, acrylic polyols for auto refinish paints and car putty resins.