SONGWON Industrial Group
SONGWON Industrial Group is a South Korea-based specialty chemicals manufacturer (founded 1965) that produces polymer stabilizers, lubricant additives, coatings, and TPU resins. It is the second-largest global polymer stabilizer producer and largest phenolic antioxidant maker in Asia, supplying industrial formulators across packaging, automotive, construction, and electronics.
- Company typePublic
- Founded1965
- HeadquartersUlsan, South Korea
- Headcount—
- GTM typeB2B
- OfferingHardware or Manufacturing
What SONGWON Industrial Group does
SONGWON Industrial Group is a South Korea-headquartered specialty chemicals manufacturer founded in 1965 and based in Ulsan. It operates six business units — Polymer Stabilizers, Fuel and Lubricant Additives, Coatings, TPU/SPU, Tin Intermediates/PVC, and Specialty Chemicals — and is the second-largest global producer of polymer stabilizers and the largest manufacturer of phenolic antioxidants in Asia. End-customers are industrial formulators in packaging, automotive, construction, agriculture, textiles, and electronics who integrate SONGWON's additives and resins into finished goods.
The company's product platform centers on proprietary brands — SONGNOX (antioxidants), SONGSORB (UV absorbers), SONGXTEND (heat stabilizers), SONGSTOMER and SONGSTOMER SP (TPU specialty resins), and HI-THANE and HI-SELAN (polyurethane coatings) — built on core chemistries of hindered phenolics, hindered amine light stabilizers (HALS), polyurethane resin formulation, and tin intermediates. Manufacturing is distributed across 12 companies in 8 countries on three continents, with primary production in South Korea, China (Qingdao), India, the United States, and Germany, plus a new One Pack System blending facility under construction in Saudi Arabia for 2025 commissioning. A new electronic chemicals production line was added at the Maeam site in March 2022.
SONGWON generates revenue through a B2B direct-sales model supplemented by regional distribution partners and warehouses across MENA, Latin America, and ASEAN. Pricing is contract-based with periodic adjustments indexed to raw material costs; inclusion rates are low (single-digit percentages in finished formulations), which yields thousands of downstream end-customers per ton of additive shipped. Revenue grew from KRW 814.3 billion in FY2019 to KRW 1,329.5 billion in FY2022, a 63% three-year expansion, with the FY2022 base placing the company in the $1B–$5B revenue band.
SONGWON Industrial Group firmographics
Firmographics- Name
- SONGWON Industrial Group
- Legal name
- Songwon Industrial Co., Ltd.
- Website
- https://songwon.com
- Company type
- Public
- Founded year
- 1965
- Operating status
- Operating
- Short description
- SONGWON Industrial Group is a South Korea-based specialty chemicals manufacturer (founded 1965) that produces polymer stabilizers, lubricant additives, coatings, and TPU resins. It is the second-largest global polymer stabilizer producer and largest phenolic antioxidant maker in Asia, supplying industrial formulators across packaging, automotive, construction, and electronics.
- Ownership category
- akta.pro rank
SONGWON Industrial Group industry classification
Industry- Product category
- Specialty Chemicals
- NAICS
- Custom Compounding of Purchased Resins (325991), Paint, Coating, and Adhesive Manufacturing (3255), Resin and Synthetic Rubber Manufacturing (32521)
- SIC
- Miscellaneous Chemical Products (2890), Chemicals & Allied Products (2800), Industrial Organic Chemicals (2860)
- akta.pro primary industry
- Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants) (IMANAAAI)
- akta.pro secondary industries
- Coating & Adhesive Raw Materials (Resins, Additives, Solvents) (IMAEAGAK), Specialty Surfactants & Performance Additives (IMAEABAL)
Keywords
Where SONGWON Industrial Group is headquartered
LocationHeadquarters
- HQ city
- Ulsan
- HQ country
- South Korea
- HQ region
- Asia
Offices14 records
Markets served
SONGWON Industrial Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Specialty Chemicals Sales: SONGWON generates revenue through the manufacture and sale of specialty chemicals including polymer stabilizers, fuel and lubricant additives, coatings additives, TPU/SPU polymers, tin intermediates, PVC additives, and specialty chemicals. Products are sold directly to customers and through distribution partners globally.
- Product Sales (Consolidated): The company reports consolidated sales across all business units. FY2022 recorded strong overall consolidated sales of 1,329,509 Million KRW, a rise of 33.2% compared to FY2021 (998,190 Million KRW).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Industrial B2B chemical products sold via direct sales and distribution partners |
Go-to-market motion3 records
Distribution channels14 records
Marketing channels8 records
SONGWON Industrial Group product offering
Product offeringCore offering
SONGWON Industrial Group develops, manufactures, and globally supplies specialty chemical additives including polymer stabilizers (antioxidants and light stabilizers), fuel and lubricant additives, coatings additives, thermoplastic polyurethane (TPU/SPU) polymers, tin intermediates and PVC stabilizers, and specialty chemicals including electronic chemicals and functional monomers. The company provides both standard products and tailored chemical solutions engineered to customer specifications across the packaging, automotive, building and construction, agriculture, textile, coatings, adhesives, durable goods, lubricant, and electronics industries.
Product overview
SONGWON Industrial Group is a specialty chemicals company offering a broad portfolio organized into six core business units: Polymer Stabilizers, Fuel and Lubricant Additives, Coatings, TPU/SPU (polyurethanes), Tin Intermediates/PVC, and Specialty Chemicals. The company is the second largest manufacturer of polymer stabilizers globally. Key product sub-brands include SONGnox® and Songsorb® CS (antioxidant and light stabilizers), SONGXTEND® (stabilizer solutions), SONGFLAME® (flame retardants), SONGSTAB™ (PVC stabilizers), SONGNOX® L-series (lubricant antioxidants), Songsorb® (UV absorbers), Songstomer® (TPU solutions), Hithane® (polyurethane adhesives), and functional monomers for electronics. The portfolio is complemented by customer-facing services including an interactive Product Finder and Ask the Expert technical consultation.
Differentiator
Problem solved
Functional benefit
Brands
- Songnox: Antioxidant product lines for polymer stabilization
- Songsorb
- Songxtend
- Songflame
- Songstab
- Songstomer
- Hithane
- ELiSANA
Products and services
- Polymer Stabilizers Polymer Stabilizers is SONGWON's core business unit offering antioxidant and light stabilizer systems (SONGnox, Songsorb, SONGXTEND, SONGFLAME) that prevent degradation of plastics and polyolefins when exposed to heat, cold, and UV-light, serving plastics and polymer manufacturers and processors globally.
- Fuel and Lubricant Additives Fuel and Lubricant Additives is a SONGWON business unit providing antioxidants (aminic, phenolic, phosphite, thioester) including the SONGNOX L-series that retard oxidation in engine oils and industrial lubricants and extend drain intervals, for fuel and lubricant manufacturers and blenders.
- Coatings Coatings is SONGWON's business unit supplying coating additives including UV absorbers and light stabilizers (HALS) such as Songsorb hydroxy-phenyl triazine UV-absorbers that provide color, texture, and extended useful life for paints and coatings manufacturers.
- TPU / SPU TPU/SPU is SONGWON's business unit providing thermoplastic polyurethane and solvent-based polyurethane polymers (Songstomer and Hithane) for wire and cable, films, injection molding, extrusion, printing inks, flexible packaging, and synthetic leather, serving polymer converters and packaging manufacturers.
- Tin Intermediates / PVC Tin Intermediates / PVC is SONGWON's business unit offering tin intermediate catalysts for electrodeposition coating and esterification, plus SONGSTAB PVC additives (liquid composite stabilizers, Ca Zn stabilizers for wire and cable, solid powder heat stabilizers for rigid PVC pipes and fittings) for PVC manufacturers and coating processors.
- Specialty Chemicals Specialty Chemicals is SONGWON's business unit supplying specialty chemicals for fast-moving industries including electronic materials and functional monomers (photoresist monomers, bisphenol monomers, dicyclopentadiene phenol resins) for semiconductor and electronics manufacturers.
- Product Finder Product Finder is an interactive online customer-facing tool that allows customers to search and discover individual SONGWON products based on chosen search criteria, serving as an online gateway to the company's portfolio of additives and specialty chemicals.
- Ask the Expert Ask the Expert is a technical consultation service that connects customers with SONGWON experts to address product inquiries, application questions, and technical support needs.
Quantifiable outcome
- Second largest polymer stabilizers manufacturer globally
- +4 more outcomes
Companies that use SONGWON Industrial Group
Customer profileSegments7 records
Ideal customer profiles5 records
SONGWON Industrial Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
SONGWON Industrial Group partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered major, regional, strategic and core.
- BiesterfeldmajorBiesterfeld, a global speciality chemical distributor, has expanded its partnership with Songwon CS to distribute the manufacturer's antioxidant and light stabiliser product lines (Songnox CS and Songsorb CS) in several new European markets including the Baltic States, Bulgaria, Croatia, Serbia, Romania, and Ukraine. The expanded agreement strengthens Biesterfeld's position in key growth regions and enables Songwon CS to reach customers more effectively through Biesterfeld's local presence and technical support. The collaboration targets the paints and coatings industry with solutions aimed at enhancing product service life and quality.
- New distributors in Japan and IndiaregionalNew distribution partners appointed for fuel and lubricant additives (FLA) business unit in Japan and India.
- Etihad RailregionalTransportation partnership with UAE's national railway operator for logistics/distribution in the UAE region.
- Altek International FZEregionalNew PVC distribution partnership in Middle East to address growing regional demand.
- KRAHN Italia S.p.A.regionalDistribution partnership for coatings business unit (BU) Coatings in Italy.
- OmyamajorExclusive partnership for Latin America for PVC additives distribution. Omya is a leading distributor of specialty chemicals.
- Chempart PolymersregionalExclusive distributor for PVC additives in the MENA (Middle East and North Africa) region starting January 2022.
- TCL HofmannregionalExclusive distributor partnership for coatings business unit (BU) in Australia and New Zealand.
- SABO S.p.A.strategicExtended worldwide exclusive sales agreement (non-exclusive in Europe) for SABOSTAB HALS product family including amine light stabilizers (HALS) and oxanilide UV absorbers.
- MegaChemmajorExpanded distribution partnership - since September 2019, MegaChem has been exclusive distributor of SONGWON's antioxidants for fuels and lubricants in ASEAN region. Partnership expanded on the back of success in these countries.
- CheminoxregionalExpanded successful long-standing partnership with Cheminox to include Bangladesh, Nepal and Sri Lanka, effective April 1st, 2021.
- Chemo International Inc.regionalDistribution partnership with Chemo International Inc. for coatings business unit.
- Makwell Plastisizers Pvt Ltd.regionalExclusive distribution agreement for PVC additives in India with Mumbai-based Makwell Plastisizers, effective as of December 2020.
- First Quality ChemicalsregionalExclusive distribution agreement for coatings, adhesives, sealants and elastomers (CASE) markets in Mexico.
- Biesterfeld FranceregionalExclusive distribution agreement for SONGWON polymer stabilizer range in France starting May 1, 2020.
- Bodo Möller Chemie Benelux N.V.regionalExclusive distribution agreement for comprehensive range of polymer stabilizers in Belgium, Luxemburg and the Netherlands since January 1, 2020.
- A. S. Paterson Company Ltd.regionalPartnership with established distributor of performance chemicals across Canada to ensure reliable supply and provide on-the-spot services for customers in the growing Canadian market.
- Bodo Möller Chemie Russia LLCregionalExclusive agreement for distribution of SONGNOX fuel & lubricant antioxidant additives in Russia, Belarus and Kazakhstan.
- JiangSu Uniwel Chemistry Co., Ltd.strategicStrategic co-operation agreement with JiangSu Uniwel Chemistry Co., Ltd. to enhance PVC stabilizer business, effective as of July 2019.
- Songwon Management AGcoreSongwon Management AG is the owner and operator of the SONGWON website, based in Switzerland (Frauenfeld). It serves as the corporate management entity for the group.
Scale indicators13 records
Recent moves9 records
Expansion highlights5 records
SONGWON Industrial Group competitors and assessment
Company assessmentDirect peers
- Adeka Corporation: Japanese specialty chemicals producer with polymer additives, flame retardants, and stabilizers as core product lines. Direct competitor to SONGWON in antioxidant and light stabilizer chemistries, particularly strong in the Asia-Pacific region.
- SI Group: US-headquartered specialty additives and polymer stabilizers manufacturer serving plastics, rubber, and fuel/lubricant markets. Closest direct competitor to SONGWON's antioxidant and stabilizer product lines, with overlapping customers and similar chemistry focus.
- Everlight Chemical: Taiwanese specialty chemical manufacturer focused on UV absorbers, light stabilizers (HALS), and coating/colorant additives. Direct competitor in the light stabilizer and coatings additive space served by SONGWON's SONGSORB and SONGFLAME lines.
- PMC Group: US-headquartered privately-held specialty chemicals company producing polymer additives, flame retardants, and performance chemicals. Comparable to SONGWON as a direct competitor in polymer stabilizers and specialty additive chemistries, focused on similar B2B industrial customers.
- Dover Chemical: US-based specialty chemicals manufacturer producing polymer additives, antioxidants, and lubricant additives. Comparable to SONGWON as a niche player in similar antioxidant and stabilizer chemistries serving plastics and lubricant end-markets.
Broad incumbents
- Lanxess: German specialty chemicals company with strong positions in polymer additives, rubber chemicals, and material protection. Comparable to SONGWON in polymer stabilizer chemistries but operates a much broader specialty chemicals portfolio across multiple end-markets.
- BASF: World's largest chemical company with a broad additives and stabilizers portfolio serving plastics, coatings, and specialty markets. Comparable to SONGWON as a peer in polymer stabilizers and coatings additives, but with significantly larger scale, broader chemistry portfolio, and integrated value chain.
- Sumitomo Chemical: Major Japanese chemical group with diversified businesses including polymer stabilizers, rubber chemicals, and specialty additives. Comparable to SONGWON as a competing Asian-headquartered player in polymer additive chemistry with significantly larger scale and broader portfolio.
- Clariant: Swiss-headquartered specialty chemicals company with additives, pigments, and performance materials for plastics, coatings, and personal care. Comparable to SONGWON in coatings and polymer additives but operates as a broader diversified specialty platform.
Emerging players
- SABO S.p.A. Italian specialty chemical company specializing in HALS light stabilizers and oxanilide UV absorbers (SABOSTAB). Directly comparable as an upstream technology partner to SONGWON and a partial competitor in the light-stabilizer niche.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
SONGWON Industrial Group social profiles
Digital presenceSONGWON Industrial Group compliance and trust
Trust signalCompliance3 records
SONGWON Industrial Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
SONGWON Industrial Group leadership team
Management profileNumber of profiles
Profiles8 records
SONGWON Industrial Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
SONGWON Industrial Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SONGWON Industrial Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SONGWON Industrial Group
What does SONGWON Industrial Group do?
SONGWON Industrial Group develops, manufactures, and globally supplies specialty chemical additives including polymer stabilizers (antioxidants and light stabilizers), fuel and lubricant additives, coatings additives, thermoplastic polyurethane (TPU/SPU) polymers, tin intermediates and PVC stabilizers, and specialty chemicals including electronic chemicals and functional monomers. The company provides both standard products and tailored chemical solutions engineered to customer specifications across the packaging, automotive, building and construction, agriculture, textile, coatings, adhesives, durable goods, lubricant, and electronics industries.
Is SONGWON Industrial Group a public or private company?
SONGWON Industrial Group is a public company. It is classified as public and is currently operating.
When was SONGWON Industrial Group founded?
SONGWON Industrial Group was founded in 1965.
Where is SONGWON Industrial Group based?
SONGWON Industrial Group is headquartered in Ulsan, South Korea, in the Asia region.
How does SONGWON Industrial Group make money?
Two revenue lines are on record. Specialty Chemicals Sales are the primary driver. The others are product Sales (Consolidated).
Who are SONGWON Industrial Group's main competitors?
Direct peers on record are Adeka Corporation, SI Group, Everlight Chemical, PMC Group and Dover Chemical. Broad incumbents are Lanxess, BASF, Sumitomo Chemical and Clariant. SABO S.p.A. is listed as an emerging player.
Does SONGWON Industrial Group have an API?
No public API is recorded for SONGWON Industrial Group.
What industry is SONGWON Industrial Group in?
SONGWON Industrial Group's product category is Specialty Chemicals. Its primary akta.pro industry code is IMANAAAI, Polymer Additives & Modifier Manufacturing (Stabilizers, Plasticizers, Impact modifiers, Flame retardants), with a secondary code of IMAEAGAK, Coating & Adhesive Raw Materials (Resins, Additives, Solvents). Its NAICS code is 325991 and its SIC code is 2890.