ICL Group LTD (NYSE: ICL), a leading global specialty minerals and specialty chemicals company, announced today it completed the successful global commercial launch of HALOX® SCRATCH-X™, an innovative mineral based anti-scratch additive that improves scratch resistance and durability and extends the life of industrial wood coatings that are used in cabinetry and furniture. The product was developed by the company’s Paints & Coatings’ scientists after extensive research and coordinated marketing efforts.
James Moffatt, EVP, Phosphate Specialties & Managing Director, ICL Americas, commented: “This new product launch is a key milestone for our Paint & Coatings business and is indicative of our continued ability to offer our customers a wide range of innovative products and unique solutions for existing and unmet needs. SCRATCH-X™ is one part of our long-term growth initiatives, and we are confident it will be a promising addition to our growing portfolio of specialty products and solutions.”
ICL estimates the total addressable market for SCRATCH-X™ to be about $450 million per year and expects its next generation additive to capture between 5% to 10% of the market globally within the next few years.
Source: ICL Group LTD
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