Sector: Materials|Industry: Specialty Chemicals|Market Cap: $10.27B|Employees: 14K
Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company’s Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids. It serves transportation, personal care, wellness, food, feed, agriculture, building and construction, water treatment, energy, consumables, durables, and electronics markets. Its Advanced Materials segment provides copolyesters, cellulosic biopolymers, cellulose esters, polyvinyl butyral sheets, and window and protective films for value-added end uses in the transportation, durables, electronics, building and construction, medical and pharma, and consumables markets. The company’s Chemical Intermediates segment offers olefin and acetyl derivatives, ethylene, and commodity solvents; and primary non-phthalate and phthalate plasticizers, and niche non-phthalate plasticizers for industrial chemicals and processing, building and construction, health and wellness, and food and feed. Its Fibers segment provides cellulose acetate tow, triacetin, cellulose acetate flake, acetic acid, and acetic anhydride for use in filtration media primarily cigarette filters; natural and solution dyed acetate yarns, and staple fiber for use in consumables, and health and wellness markets; and wet-laid nonwoven media, specialty and engineered papers, and cellulose acetate fibers for transportation, industrial, agriculture and mining, and aerospace markets. The company was founded in 1920 and is headquartered in Kingsport, Tennessee.
Eastman Chemical Company is a global specialty materials company that produces a broad range of products found in items people use every day. The company's businesses are managed and reported in four operating segments: Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers. Eastman uses an innovation-driven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated application development capabilities, and relentlessly engaging the market. The company works with customers to deliver innovative products and solutions with a commitment to safety and sustainability. Eastman has 36 manufacturing facilities and has equity interests in two manufacturing joint ventures in 12 countries that supply products to customers throughout the world. The company's headquarters and largest manufacturing facility are located in Kingsport, Tennessee.
Key leaders have extensive experience in their respective fields, with many having served in various leadership positions within the company.
Eastman produces a broad range of specialty materials, including:
Eastman's operations are managed and reported in four operating segments:
In 2023, the Company moved the functional amines product line from the CI segment into the AFP segment. In addition, certain organic acid products and olefin-based products moved from the AFP segment to the CI segment.
Eastman's strategy focuses on leveraging its heritage expertise and innovation within its cellulosic biopolymer and acetyl, olefins, polyester, and alkylamine chemistries. The company uses an innovation-driven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated application development, and relentlessly engaging the market. The company sells differentiated products into diverse markets and geographic regions and engages the market by collaborating and co-innovating with customers and downstream users in existing and new niche markets to creatively solve problems. Management believes that this innovation-driven growth model will enable the Company to leverage its proven technology capabilities to improve product mix, increasing emphasis on specialty businesses, and sustaining and expanding market share through leadership in attractive niche markets. The Company's strategy also focuses on organic growth initiatives and targeted bolt-on acquisitions. Eastman is also dedicated to enhancing the quality of life in a material way with an ongoing commitment to sustainability.
Eastman operates in the specialty materials industry, which is characterized by a diverse range of end-markets and a competitive landscape. Key market trends affecting the business include sustainability and circular economy, energy efficiency, and digital technologies. Eastman competes with various global chemical companies, including Sekisui Chemical Co., Ltd., Kuraray Co., Ltd., Kingboard (Fo Gang) Specialty Resins Limited, Chang Chun Petrochemical Co., Ltd., XPEL, Inc., 3M Company, Saint-Gobain S.A., BASF SE, Dow Inc., Huntsman Corporation, Covestro AG, Trinseo S.A., and Saudi Basic Industries Corporation. Market share information is not explicitly provided in the filing.
(Generated from latest 10-K filing)