Chemicals group notes stronger Q2 demand for silicones and coatings applications

Midland, Michigan – Dow has reported a significant increase in silicone materials demand for the three months to 30 June, adding to gains made elsewhere in its portfolio.

The US group’s silicones business is part of a Performance Materials & Coatings Segment, which reported second quarter net sales of $3 billion, up 22% versus the year-ago period.

The revenue gains reflected local price increases equivalent to 28% year-on-year in both business areas and in all regions, according to Dow’s financial report.

Volume declined 3% year-over-year, primarily due to the impact of pandemic-related lockdowns in China, the company pointed out.

However, it added that these negative effects “were partly offset by stronger demand for silicones and coatings applications in the US & Canada.”

Operating earnings (EBIT) was $561 million, compared to $225 million in the year-ago period, helped in part by pricing gains for both silicones and coatings applications, reported Dow.