CABB supplies precursors for hygiene and disinfection products

FIGHTING COVID-19

CABB Group, the German manufacturer of precursors, intermediates and active substances in the fine chemical industry, is making a contribution to the fight against corona virus with the supply of high purity monochloroacetic acid (MCA).

MCA is an indispensable component of betaines, which control the cleaning properties of liquid care products such as hand soaps or washing lotions. CABB is a strategic partner of key global producers of these chemical building blocks.

In addition, CABB produces bleaching soda, which is an important active ingredient in numerous cleaning and care products due to its disinfectant properties. Even in small doses, bleaching soda is effective against coli bacteria and staphylococci and is therefore used, for example, in sanitary gels. “The Covid-19 crisis can only be solved if people and companies around the world work together and pull together,” said Mr. Carsten Wörner, Head of the Acetyls Business Unit at CABB. “With our customer-specific supply chains, we make a contribution to maintaining the supply of important hygiene products,” he added.

MARKET TRENDS

Global cosmetic packaging market set to be worth around $15-bn by 2026

As per a Transparency Market Research report, the global cosmetic packaging market is set to grow at a 4.7% CAGR from 2018 to 2026 and reach a value of $14.25-bn.

Owing to a massive shift of consumer preference away from plastic due to its negative impact on the environment, the paper segment would grow at an impressive pace, the report stated. Sustainable packaging would see an increasing number of takers in the market owing to increasing environmental awareness.

In terms of application, hair care segment is expected to grow at a CAGR of 5.2% while skin care segment would account for a large market share in terms of value and volume. “Capacity-wise, less than 50-ml would be a prominent segment, owing to greater affordability of small packs and their ease of handling,” the report stated. Asia Pacific is expected to dominate the global cosmetic packaging market with China and Japan at the forefront of growth. Europe is expected to grow at a CAGR of 4.3% from 2018 to 2026 with Germany and France being major contributors. Some of the most notable players in the market include Aptar Group, RPC Group, Gerresheimer, Amcor, Libo Cosmetics Company, Quadpack Industries, HCP Packaging, Fusion Packaging, Essel Propack, Albea, etc.

Revlon to cut 1,000 positions, continues to explore options

US-based cosmetics giant, Revlon, said it expected to save up to $230-mn a year by 2022 end, mainly by eliminating nearly 1,000 positions, in a bid to improve profitability even as it continues to explore options along with Goldman Sachs.

The company has been struggling to attract youngsters in a competitive market that houses several upstart brands and bigger companies such as L’Oréal and Estee Lauder. Its sales has declined for at least five quarters hit by weak demand for its fragrances and namesake products. The company said it expects to incur between $55-mn and $65-mn in charges in 2020, mainly due to severance and contract termination costs. Its biggest shareholder MacAndrews and Forbes, the holding company through which billionaire Ronald Perelman owns about 87% stake in Revlon, had said in August last year that the cosmetics maker was exploring options for its business.