Perstorp expands in Asia with new offices in Taiwan and Malaysia

Perstorp has made significant strides in expanding its presence in the Asia-Pacific region with the recent establishment of a legal entity in Taiwan and the inauguration of its first office in Malaysia last month. These developments come on the heels of Perstorp’s acquisition by Petronas Chemicals Group Berhad (PCG), further enhancing its growth and integration efforts in Southeast Asia.

New legal entity in Taiwan

On May 7, 2024, Perstorp marked a pivotal moment with the official registration of its legal entity in Taiwan. The inauguration ceremony at the Grand Hyatt Taipei was attended by approximately 30 guests, including key clients and senior leadership from Perstorp. The event featured a ceremonial ribbon-cutting, presentations on company strategy, and networking sessions.

Gorm Jensen, chief commercial officer and EVP, Commercial & Innovation, at Perstorp, highlighted the unique opportunities presented by the Taiwanese market, particularly its robust electronics industry supply chain. He emphasised Perstorp’s commitment to building a strong presence in Taiwan and collaborating with local partners to drive mutual growth. Mikael Gedin, EVP of People and Care, reiterated the company’s dedication to employee career development and local talent nurturing.

Taiwan is an important market for specialty chemicals. The region’s strong electronics industry drives significant demand for specialty chemicals, particularly for applications in semiconductor manufacturing. Taiwan’s comprehensive supply chain for electronics, including processes like photolithography and chemical vapor deposition, relies heavily on these chemicals. Additionally, the pharmaceutical and personal care sectors in Taiwan also contribute to the growing demand for high-performance specialty chemicals, making it a pivotal market in the Asia-Pacific region.

First office in Malaysia

Perstorp’s expansion into Malaysia was marked by the inauguration of its first sales office in Kuala Lumpur last month. Located on the 46th floor of the iconic PETRONAS Twin Towers, the office currently houses six dedicated colleagues with plans for future expansion. Managed by Kelly Thong, vice president, Business Development & Regional Manager South East Asia, the Malaysian office will work closely with Perstorp’s existing sales office in Singapore.

Thong noted, “Establishing a presence in Malaysia is a testament to Perstorp’s commitment to growth and our belief in the potential of the Malaysian market.” This new office aims to leverage Perstorp’s expertise and resources to better serve clients and partners in Malaysia.

These strategic expansions follow Perstorp’s acquisition by Petronas Chemicals Group Berhad (PCG). The acquisition, which was finalised last year, is part of PCG’s broader strategy to diversify its product portfolio and enhance its position in the specialty chemicals sector. Perstorp’s integration into PCG is expected to bring synergies and drive innovation, leveraging PCG’s extensive network and resources in the region.

With these new establishments, Perstorp is well-positioned to capitalsze on the growing demand for specialty chemicals in the Asia-Pacific region. The company’s ongoing commitment to innovation, sustainability, and local collaboration underscores its strategy to achieve sustainable growth and drive industry advancements.

The specialty chemicals market in Asia is a significant and rapidly growing sector. According to recent market analysis, the specialty chemicals market in Asia-Pacific is the largest globally and is expected to continue its dominance throughout the forecast period. The market’s growth is driven by increasing demand in various industries such as electronics, pharmaceuticals, and personal care products. The Asia-Pacific region is projected to maintain a strong compound annual growth rate (CAGR) due to its expanding industrial base and increasing investment in high-value specialty chemicals.

Perstorp is a global leader in specialty chemicals with a strong focus on sustainable and innovative solutions. Founded in Sweden in 1881, the company develops and manufactures a wide range of products used in various industries, including coatings, plastics, textiles, and adhesives. Perstorp is known for its high-performance products such as polyols, caprolactones, and formates, which are essential components in many applications.