Can you update us on your recent operations?

Reacciones Químicas is over forty years old, and we have dedicated ourselves to offer synthetic resins for two industry segments. One of our main categories is coating resins, and the second is unsaturated polyester resins (UPR). 2023 was a complicated year for the industry, but it was a good year for Reacciones Químicas. During 2023, we had the opportunity to make a major acquisition. This gave us a new plant, enabling 14,000 t/y more capacity, that will increase as we continue the integration process. 

What is Reacciones Químicas’ approach to workplace safety?

Reacciones Químicas was awarded the Distintivo TRe by the government of the State of Nuevo León, which is where our Monterrey plant is based. The award certified our completion of all the legal requirements for environment and workplace safety. Additionally, we have been working to get the Clean Energy Certification. This has been a long path, and right know we are in the last phase of the process, expecting to receive this certification during 2024. 

Can you summarize the market in 2023?

The supply chain suffered less disruptions than 2022. However, market prices were down. Additionally, with the dollar depreciation margins were impacted in companies like ours. We had to face fast decreasing prices due to the dollar’s fall. 

Another challenge during 2023 was the modifications on the import regulations. These will impact our operations, driving us to examinate those changes to be able to adapt to the new situation and keep operating as the market demands. 

What trends have you observed?

There are continuously more environmental requirements for our clients’ products, and we are doing everything we can to help them meet those requirements. A very important part of that is based on raw materials. We have launched low-VOC products to support environmental requirements. For example, we offer products that use less solvents and more water. This trend shows a market opportunity, and we are focused to offer the same quality while using new, more environmentally friendly technologies. 

Coatings are growing significantly. Historically, we have seen in Mexico a lot of local companies specialized on specific coatings, a few global ones, and the rest are based in certain regions. Nowadays, we are observing that those companies have grown much more than expected. Guadalajara is a region, for example, where traditional clients are surprising us with significant development and are looking for new providers outside from Mexico City to get more opportunities in other markets. Guadalajara is very attractive market to target.

How does Reacciones Químicas prioritize sustainability?

Besides offering environmentally friendly products, we are now using recycled raw materials. This has several benefits, both in terms of environmental sustainability and lower cost. We have developed innovation in our manufacturing processes, reducing the amount of water we require, and understanding that Mexico has a major problem with water scarcity, we are focused on making our plants as efficient as possible.

What is the importance of digital technologies?

RQ is focused on its development in the national and international market as well, and its necessary to use digital technologies to automatize manufacturing processes, ensuring that our processes operate independently with the same high-quality standards. Additionally, as an international company we need to communicate and promote through digital channels our products and services available to our actual and potential clients.  

What are the company’s priorities for 2024? 

RQ sees great opportunities in the US market, and our objective is to channel our efforts to take advantage of these opportunities. Central America and the Caribbean markets are very attractive to us and we are evaluating the possibility to participate into new markets in the next couple of years.

Finally, last year the plant in Monterrey was operating at full capacity, with a high demand of products, resulting in significant operation pressures for the company. With the new plant, we hope to meet the demand while still having room to grow. As a company, we have never had to manage two plants, so the core focus for the year is to accomplish a successful integration process. That will give us the opportunity to offer more products with a better service to our clients.