Songwon Industrial Group

What Songwon Industrial Group does

Songwon Industrial Group is a South Korea-founded, Switzerland-headquartered specialty chemicals manufacturer established in 1965 and publicly traded on the Korea Stock Exchange (ticker 004370). It is the world's second-largest manufacturer of polymer stabilizers, producing antioxidants, UV absorbers, light stabilizers (HALS), and One Pack Systems (OPS) under proprietary brand families including SONGNOX, SONGSORB, SONGXTEND, SONGSTAB, SONGSTOMER, and HI-THANE. The company also produces fuel and lubricant antioxidants, coating additives, thermoplastic polyurethane (TPU/SPU) resins, tin intermediates, PVC stabilizers, and emerging electronic-materials specialty chemicals.

The company operates six manufacturing facilities (three in Korea, one in Germany, one in China, plus a One Pack System joint venture in China) and an additional facility in India acquired from SeQuent Scientific in 2014, organized as twelve legal entities across eight countries on three continents. Revenue is generated through B2B sales of formulated specialty chemicals sold by volume under multi-year contracts with quote-based pricing; distribution combines direct sales offices in nine markets with exclusive regional distributor partnerships (Biesterfeld in Europe, Omya in Latin America, Chempart in MENA, TCL Hofmann in Australia/New Zealand, Depotchem in Israel, UTS in Russia, and Bodo Möller Chemie). Customers span automotive, packaging, building & construction, wire & cable, fuels & lubricants, textile & fibers, electrical & electronics, and agriculture end-markets, served by enterprise sales teams with technical support. FY2022 consolidated sales reached 1,329,509 million KRW (~$1B USD) with 22.7% gross margin and 131,932 million KRW net profit; subsequent years through FY2025 have shown substantial revenue and profit contraction amid chemical-sector headwinds.

Name

Songwon Industrial Group

Legal name

Songwon Industrial Co., Ltd.

Website

https://songwon.com

Company type

Public

Founded year

1965

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Songwon Industrial Group is a publicly traded Korean specialty chemicals manufacturer and the world's second-largest polymer stabilizer producer, selling antioxidants, UV stabilizers, One Pack Systems, TPU resins, and coating additives under proprietary brands to global plastics, automotive, packaging, and industrial customers across eight countries.

Ownership category

akta.pro rank

Product category

Specialty Chemicals

NAICS

Paint, Coating, and Adhesive Manufacturing (3255), Custom Compounding of Purchased Resins (325991), Resin and Synthetic Rubber Manufacturing (32521), Paint and Coating Manufacturing (325510)

SIC

Industrial Organic Chemicals (2860), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Miscellaneous Chemical Products (2890)

akta.pro primary industry

Polymer Additives & Modifiers (Stabilizers, Plasticizers, Impact Modifiers, FRs) (IMAEANAK)

akta.pro secondary industries

Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants) (IMANAAAI), Coating & Adhesive Raw Materials (Resins, Additives, Solvents) (IMAEAGAK), Adhesives & Sealants Chemicals (IMAEABAA)

Keywords

• Polymer stabilizers
• Specialty chemicals
• Antioxidant additives
• UV stabilizers
• Lubricant additives

Headquarters

HQ city

Ulsan

HQ country

South Korea

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Polymer Stabilizers: Primary revenue driver. Manufactures and sells a comprehensive range of polymer stabilizers including antioxidants, UV absorbers, and HALS to plastics manufacturers worldwide. This is the core business generating the majority of revenue.
2. Fuel and Lubricant Additives: Antioxidants for lubricants and fuels that retard oxidation and extend engine oil drain intervals. Sold to lubricant manufacturers and fuel producers.
3. Coatings Additives: UV absorbers, light stabilizer blends, and stabilization packages for coatings, adhesives, and sealants used in industrial and architectural coatings.
4. TPU/SPU Polymers: Thermoplastic polyurethane and specialty polyurethane polymers for films, wire & cable, injection molding, and flexible packaging applications.
5. Tin Intermediates / PVC Additives: Tin intermediates used as catalysts in electrodeposition coating and esterification reactions, along with PVC stabilizers and plasticizers.
6. Specialty Chemicals: Specialty chemicals for fast-moving industries including electronic materials and functional monomers for semiconductor applications.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

SONGWON Industrial Group manufactures and globally supplies specialty chemical additives organized into six business units: polymer stabilizers (antioxidants and UV stabilizers under the SONGNOX®, SONGSORB®, SONGXTEND®, and SONGSTAB™ brands), fuel and lubricant additives, coatings additives, thermoplastic polyurethane resins (TPU/SPU), tin intermediates and PVC additives, and specialty chemicals for electronics. Products are sold in multiple physical forms (liquids, powders, pastes, free-flowing) and as One Pack System (OPS) pre-formulated packages to plastics, automotive, packaging, wire & cable, construction, fuels & lubricants, electronics, and textile manufacturers worldwide.

Product overview

SONGWON Industrial Group is the world's second largest manufacturer and supplier of polymer stabilizers, offering a broad range of specialty chemicals organized into six core business units: Polymer Stabilizers (antioxidants and light stabilizers including SONGNOX®, SONGSORB®, SONGXTEND®, and SONGSTAB™ brands), Fuel and Lubricant Additives (antioxidants including SONGNOX® L series), Coatings (UV absorbers and stabilizer blends), TPU/SPU (thermoplastic polyurethanes including Songstomer® and HI-THANE® polyurethane solutions), Tin Intermediates/PVC (catalysts and PVC stabilizers), and Specialty Chemicals (electronic materials and functional monomers). The company operates manufacturing facilities in Korea, Germany, China, and India, with twelve companies across eight countries serving global customers.

Differentiator

Problem solved

Functional benefit

Brands

• SONGNOX: Antioxidant product line including SONGNOX 9228 and various polymer antioxidant solutions
• SONGSORB
• SONGXTEND
• SONGSTAB

Products and services

• Polymer Stabilizers Comprehensive range of antioxidants and light stabilizers to prevent plastic degradation when exposed to heat, cold, and UV-light. Includes phenolic, aminic, phosphite, and thioester antioxidants and UV absorbers sold to plastics manufacturers globally.
• Fuel and Lubricant Additives Antioxidants for lubricants and fuels that provide protection at high temperatures and extend engine oil drain intervals. Includes nonylated/-octylated diphenylamine antioxidants sold to lubricant manufacturers and fuel producers.
• Coatings Additives Coating additives including UV absorbers, light stabilizers, and stabilizer blends that provide color, texture, enhance appearance and extend useful life of coatings, adhesives, and sealants used in industrial and architectural applications.
• TPU / SPU (Thermoplastic Polyurethane) Thermoplastic polyurethane and specialty polyurethane resins for films, wire & cables, injection molding, extrusion, printing inks, flexible packaging and synthetic leather applications.
• Tin Intermediates / PVC Additives Tin intermediates serve as catalysts in electrodeposition coating and esterification reactions, while PVC additives act as stabilizers and plasticizers that impart higher durability to PVC plastic end products including pipes, cables, and profiles.
• Specialty Chemicals Specialty chemicals for fast-moving industries including electronic materials and functional monomers for various applications including semiconductors.
• SONGNOX Antioxidants Brand portfolio of polymer antioxidants including SONGNOX 9228 (high hydrolysis resistance for polyolefins), SONGNOX 1330 (general-purpose for polymer applications), and SONGNOX 5057 (liquid aminic antioxidant for polyols and elastomers).
• SONGSORB UV Absorbers and Light Stabilizers UV absorber product line including SONGSORB 1164 (triazine UV absorber for outdoor-exposed polyolefins), SONGSORB CS 171 (liquid UV absorber for coatings manufactured in Suwon, South Korea), and SONGSORB 5710 for various applications.
• SONGXTEND Stabilizer Solutions Stabilizer solutions product line including SONGXTEND 2721 for sustainable PP recycled resins and SONGXTEND 1301 for XPS flame retardant polystyrene applications, plus primary and secondary antioxidant blends evaluated for polyolefin mechanical recycling.
• SONGSTAB PVC Stabilizers PVC stabilizer product line including liquid composite stabilizers for plastisols and soft PVC, suspension PVC stabilizers, calcium-zinc stabilizers for wire & cable, and solid powder heat stabilizers for rigid PVC pipes and fittings.
• Songstomer TPU Products TPU innovation solutions for the wire and cable industry, film and sheet industry, and solvent-free adhesives applications.
• HI-THANE Polyurethane Solutions Polyurethane ink binder solutions for gravure and flexography printing inks, polyurethane laminating adhesives for flexible packaging, and solvent-free adhesives for flexible packaging laminates.
• SONGNOX L Series Lubricant Antioxidants Nonylated/-octylated diphenylamine antioxidant products including SONGNOX L670 and SONGNOX L570 for lubricant performance and extended drain intervals at high temperatures.
• One Pack Systems (OPS) Pre-formulated stabilizer packages combining multiple additives in a single delivery system for easier handling and consistent dosing in polymer processing, including the OPS joint venture with Qingdao Long Fortune in China and a planned new OPS facility in Saudi Arabia.

Quantifiable outcome

• 33.2% revenue growth in FY 2022 reaching 1,329,509 Million KRW
• +3 more outcomes

Named customers5 records

Segments8 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Nine partnerships are on record, tiered core, regional and minor.

• BiesterfeldcoreChannel Partner/ Reseller/ Distributor · 20 January 2026Biesterfeld, an international distributor of specialty chemical products, expanded its distribution partnership with Songwon CS in January 2026 to include antioxidant and light stabilizer product lines SONGNOX CS and SONGSORB CS in 12 additional European countries. The newly covered territories include the Baltic States, Bulgaria, several Balkan nations, Ukraine, and Romania. The two companies previously cooperated in Italy, Austria, Poland, Portugal, Switzerland, Slovakia, Spain, the Czech Republic, Hungary, and parts of Germany. This expansion strengthens Biesterfeld's high-performance additives portfolio in key growth regions.
• OmyacoreChannel Partner/ Reseller/ DistributorExclusive partnership for Latin America with Omya, a leading distributor of specialty chemicals. Omya distributes Songwon's PVC additives throughout Latin American markets.
• Chempart PolymersregionalChannel Partner/ Reseller/ DistributorExclusive distributor in the MENA (Middle East and North Africa) region for Songwon's PVC additives starting January 2022.
• TCL HofmannregionalChannel Partner/ Reseller/ DistributorExclusive coatings distributorship for Australia and New Zealand. TCL Hofmann handles Songwon's business unit coatings products in these markets.
• Bodo Möller Chemie GmbHregionalChannel Partner/ Reseller/ DistributorExpanded distribution partnership covering polymer stabilizers and related products in European markets. The partnership provides broader market coverage for Songwon's additives portfolio.
• Depotchem Amgal LtdminorChannel Partner/ Reseller/ DistributorExclusive distributor for Israel starting January 2016. Depotchem is a leader in the distribution of chemicals and raw materials in Israel.
• United Trading System (UTS)regionalChannel Partner/ Reseller/ DistributorLong-term cooperation agreement with distributor UTS to supply the Russian petrochemical company SIBUR with additives used in polypropylene, polyethylene, rubbers, thermoplastic rubbers and PVC. Songwon supplies products while UTS handles local distribution and logistics in Russia.
• Qingdao Long Fortune Chemical Auxiliary Co., Ltd (QLF)coreStrategic or Co-development PartnerJoint venture established in May 2015 with QLF in Qingdao, China for manufacturing and sales of One Pack System (OPS) products and polymer stabilizers. This joint venture serves the world's largest and fastest-growing polymer market in China.
• SeQuent Scientific LtdcoreStrategic or Co-development PartnerAcquisition completed in August 2014 of SeQuent's specialty chemicals business division including polymer stabilizers business unit, manufacturing facility in Panoli, Gujarat, India, and local R&D team. This expanded Songwon's presence in the Indian market.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• BASF: Global chemical major with a leading polymer additives and stabilizer portfolio (including UV absorbers and antioxidants) serving plastics, coatings, and agriculture. Direct competitor to SONGWON's core polymer stabilizers business and significantly larger across all dimensions.
• Lanxess: German specialty chemicals company with significant presence in polymer additives, lubricant additives, and rubber chemicals. Comparable business model in stabilization chemistry and overlapping customer base in automotive and industrial applications.
• Evonik Industries: German specialty chemicals major with additives and specialty polymers including UV stabilizers and performance additives. Competes with SONGWON in polymer additives and shares customer base in plastics, coatings, and high-performance materials.
• Eastman Chemical: US specialty chemicals company with additives for plastics, coatings, and personal care including UV stabilizers and performance additives. Larger incumbent competing in adjacent applications with comparable B2B specialty chemical distribution.

Direct peers

• Clariant: Specialty chemicals company with a focused additives portfolio including polymer stabilizers, UV absorbers (e.g., Hostavin), and performance additives for plastics and coatings. Directly competes with SONGWON in the light stabilizer and antioxidant space.
• Solvay: Belgian specialty chemicals group with a polymer additives and stabilizer business serving plastics, coatings, and electronics. Listed alongside SONGWON as a top player in the UV stabilizers market and competes in similar end-use applications.
• Adeka Corporation: Japanese specialty chemicals company with a leading polymer additives portfolio including antioxidants, UV absorbers, and PVC stabilizers. Closest Asia-Pacific peer to SONGWON with directly overlapping stabilizer product lines.
• Baerlocher: German specialty additives manufacturer focused on PVC stabilizers (calcium-zinc, lead, tin-based) and polymer additives. Direct competitor to SONGWON's SONGSTAB PVC stabilizer product line and serves similar pipe, cable, and profile customers.
• PMC Group: US-based specialty chemicals manufacturer with polymer additives, stabilizers, and lubricant additives portfolios. Comparable mid-sized specialty chemical player competing in similar end markets including plastics, packaging, and lubricants.
• SI Group: Global manufacturer of performance additives including polymer stabilizers, antioxidants, and specialty resins for plastics, rubber, and adhesives. Similar business model and customer base to SONGWON's polymer stabilizers and specialty chemicals business.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzKUNvweY-eCi6jjtrUNcWw
• LinkedInlinkedin.com/company/1267338

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Songwon Industrial Group