Perstorp

Cationic Offering
 Perstorp in brief
• World leader in several sectors of the specialty chemicals market
• Pioneer in formalin chemistry, plastics and surface materials
• Since December 2005, Perstorp has been owned and controlled by
PAI partners, a leading European private equity company
• In September 2018, Perstorp was transferred into a new investment fund
managed by PAI Partners with Landmark Partners as lead investor, alongside
other co-investors. In addition Landmark Partners and its co-investors have
committed EUR 130 million to Perstorp for growth opportunities

2 20 APRIL 2022
 General introduction
to Radiation curing

3 20 APRIL 2022
 Different types of curing
Technology Advantages Disadvantages
Solvent based • Long history and experience • High VOC
• Low cost • Slow drying
• Variety of materials

Water based • Seen as “safe” • Low solids

• Low VOC • Slow drying

Radiation • VOC-free - environmental friendly • Often perceived as

curing technology and no solvent wastes hazardous
• Fast curing - higher speed in • Migration
production lines • Acrylates can have poor
• Space saving adhesion
• Room temperature process - lower • Curing must be carefully
energy in processing controlled
• High performance & quality of finished • Seen as high cost
materials (ex hardness, chemical
resistance)
• Versatile - solution for many
applications

4 20 APRIL 2022
 Comparison of UV technologies
Advantages Disadvantages
Free radical curing • Speed • High shrinkage
• The dominant technology >95% • Low energy • Poor adhesion
• High resolution • Curing is inhibited by O2
• A photo initiator creates a free radical • Acrylates often are skin irritants
when exposed to UV light & allergens

Cationic curing • Low shrinkage • Curing is inhibited by humidity and

• <5% of Radcure market • Exceptional adhesion on amines
difficult substrates • Limited range of raw materials
• A photo initiator generates an acid • No O2 inhibition
when exposed to UV light • Exceptional flexibility
• Low migration
• Low levels of toxicity
and irritation
• Dark curing,
offers complete curing

5 20 APRIL 2022
 Free radical formulation
Binders
(Meth)-acrylated oligomers
[Example polyester, urethane or epoxy backbone in the oligomers]

Reactive diluents
(Meth)-acrylated monomers DPHA

[Example HDDA, TMPTA, TPGDA, DPHA]

Photo initiator system

Additives
Pigments
Fillers

6 20 APRIL 2022
 Cationic formulation
Binders
Cycloaliphatic epoxy
[Example 3,4-Epoxycyclohexylmethyl 3,4-
epoxycyclohexanecarboxylate]

Reactive diluents
Curalite™ Ox Curalite™ OxPlus
Oxetanes, epoxy monomers, vinyl ethers
[Example Curalite™ Ox and OxPlus]

Modifiers
Polyols
[Example Polyether polyols, Dendritic “Boltorn” polyols]

Photo initator system

Additives
Pigments
Fillers

7 20 APRIL 2022
 Hybrid systems
Combination of cationic & free
radical systems (Interpenetrating
networks IPN)
Cationic

Combine benefits of both technologies

HYBRID

Free radical

8 20 APRIL 2022
 Cationic Technology
Values and applications
Our offering for Cationic UV

9 20 APRIL 2022
 Why use Cationic
• Cationic technology is used when free radical/acrylates
cannot meet the wanted properties.
• Hybrid systems can often be a solution to combine the
benefits of cationic and free radical technologies.

Advantages
+ Low shrinkage
+ Exceptional adhesion on difficult substrates
+ No O2 inhibition
+ Exceptional flexibility
+ Low migration
+ Low levels of toxicity and irritation
+ Dark curing, offers complete curing

10 20 APRIL 2022
 Main applications Cationic UV curing
Coatings
Good adhesion on
challenging substrates
like metal, glass and
Inks
plastic Low migration in
sensitive applications
like food packaging &
good adhesion on
Adhesives difficult substrates
Good adhesion,
3D printing flexibility and
High quality prints for toughness
prototyping and
manufacturing
like dimensional stability
and through cure

11 20 APRIL 2022
 Where we support in the value chain
Perstorp Formulators Convertors End users
Curalite™
• Inks
Boltorn™ Cationic • Coatings
•
•
OEM / Applicators
Printers
Polyols • Adhesives
• 3D printing

Resin
Boltorn™
Polyols producers Hybrid
• Acrylates

Other
ingredients
• Epoxy resins
• Photoinitiators
• Pigments
• Others

12 20 APRIL 2022
 Product offering for Cationic technology

MODIFIERS
Polyols
Chain extenders
REACTIVE DILUENTS
Oxetanes
Performance boosters
Curalite™ Ox Boltorn™
Multifunctional and
highly branched
Alkoxylates dendrimers
Curalite™ OxPlus High reactivity and
safe polyethers

13 20 APRIL 2022
 Curalite™
Designed to enhance Cationic UV Curing
• Reducing viscosity of your formulation
Typical properties Curalite™ Ox Curalite™ OxPlus
• Improving UV reactivity
Appearance Colorless liquid Colorless liquid
• High surface and through cure
• No shrinkage during curing Reactive groups 1 oxetane, 1 hydroxyl 2 oxetanes

• Colorless Oxetane equivalent weight

116 107
• Low odor & no skin irritation (g/eq)

Hydroxyl equivalent weight

116 -
(g/eq)
For flexibility For crosslinking
Curalite™ Ox Curalite™ OxPlus Hydroxyl number (mg KOH/g) 485 -

Molecular weight (g/mol) 116 214

Viscosity at 20°C (mPa.s) 27 15

Color (APHA) 10 9

Acid number (mg KOH/g) 0,2 0,2

14 20 APRIL 2022
 Curalite™ Ox Viscosity
350
• Suitable in formulation in the range of 5 to 25 wt% 300

Viscosity at 25C (mPa.s)

• Strong diluting power and increasing the reactivity 250

• Best performance for flexibility 200

150
• Through our Pro-Environment solutions, available as 100
partly renewable 50
– Curalite™ Pro Ox C20 – 20% renewable content 0
– Curalite™ Pro Ox C50 – 50% renewable content 10 15 20 25
Concentration of Ox (wt%)

Surface cure (tack free) Through cure (chemical resistance)

50 250

40 200

MEK double rubs

Belt speed (m/min)

30 150
0 wt%
100
20 10 wt%

50 20 wt%
10
0
0 1 2 16 24 72

0 5 10 15 20 Dark cure time (h)

Concentration of Ox (wt%)

15
CuraliteTM Ox has been formulated with cycloaliphatic epoxy and cationic photoinitiator, and cured with a Hg lamp 20 APRIL 2022
 Curalite™ OxPlus
Viscosity
350

Viscosity at 25C (mPa.s)

300

• Suitable in formulation in the range of 5 to 25 wt% 250

• Strong diluting power and increasing the reactivity

200

150
• A di-functional crosslinker 100

• Improved chemical resistance and hardness 50

0
• Less moisture sensitive compared to Curalite™ Ox 5 15 20 45
Concentration of OxPlus (wt%)

Surface cure (tack free)

50
Through cure (chemical resistance)
40 250
Belt speed (m/min)

200

MEK double rubs

30

150 5 wt%
20
15 wt%
100
10 20 wt%
50
45 wt%
0 0
0 5 10 15 20 25 30 35 1 3 6 72
Concentration of OxPlus (wt%) Dark cure time (h)

CuraliteTM OxPlus has been formulated with cycloaliphatic epoxy and cationic photoinitiator, and cured with a Hg lamp
16 20 APRIL 2022
 Curalite™
Performance & Value proposition
Performance Value proposition
• Reducing viscosity of your formulation • Excellent dilution power
• Improving UV reactivity • Faster process
• High surface & through cure • Hardness & chemical resistance
• Reducing the Tg • Flexibility
• No shrinkage during curing • Good adhesion and dimensional stability
• Colorless • Transparent solutions
• Low odor, not skin irritating/sensitizing and • Better alternative than standard free radical UV curable
very low migration as the system continues to monomers in many applications
cure after radiation

17 20 APRIL 2022
 Dendritic Polymers – Boltorn™
Hyperbranched Polymers
• High functionality
• Highly branched polymer backbone

Boltorn™ H2004 recommended for cationic formulation

• Best effect when used in the range of 10 wt%
• Superior wear resistance
• Good flow while high functionality
• Improved flexibility
• High crosslinking
• Good chemical resistance

More Boltorn™ grades available to tailor-make your formulation

18 20 APRIL 2022
 Polyether polyols
Difunctional propoxylated polyol
Broad offer in polyols for cationic formulations
• Di-, tri-, tetra- and hexa-functional polyols
• Ether bonds
Trifunctional ethoxylated polyol

Tailored properties
• Changing polyol and the ratio between epoxide/oxetane
and polyol

Tetrafunctional ethoxylated polyol

Many grades allowing freedom to formulate
H O H
O
O O

O O

H O O H

19 20 APRIL 2022
 Other application areas

20 20 APRIL 2022
 Curalite™
Oxetane chemistry advantages
High reactivity ingredient & powerful diluent offering possibility to explore other areas of use
• Efficient curing agent in cationic curing, thanks to its easy ring opening in presence of certain Lewis or Brönsted acid
• Powerful reactive diluent, allowing e.g. incorporation of inorganic materials like certain pigments
– Advantages: low odor and no skin irritation, as well as low volatility vs many other (reactive) diluents
• Used as an intermediate e.g. in the production of stabilizers for many plastics like PC, PBT PVC
• Used in formulations e.g.:
– As acid scavenger
– In the production of casting molds for metal industry (foundry resins)

Lower acidity Lower ring-strain High thermal Curalite™ Curalite™

than epoxy than epoxy stability Ox OxPlus
pKa -2,02 106,7 kJ/mol
Boiling point (C) 220 119

Flash point (C) 106 144

Viscosity (mPa.s)
27 15
@20C
Allows easy ring opening Stability vs epoxy Multiple functionalities
21 20 APRIL 2022
 Conclusions
• Cationic – a fast growing, specialty segment
• Leading supplier in cationic ingredients
• Your partner in cationic formulations

Curalite™ Ox Curalite™ OxPlus

Boltorn™ Polyether polyols

H O H
O
O O

O O

H O O H

22 20 APRIL 2022
XXX
 Appendix

24 20 APRIL 2022
 For your reference
• Products are available on all major markets

• Available documentation
– TDS
– SDS
– Technical Information Leaftlets
– Perstorp products for cationic radiation curing (TI 0128)
– Oxetanes, Basic information on their chemistry
& application to UV cationic curing (TI 0134)
– Cationic UV screen ink formulations (TI 0136)
– Cationic UV flexographic ink formulations (TI 0138)
– Cationic UV overprint varnish formulations (TI 0140)

25 20 APRIL 2022
 EXAMPLES OF
Cationic on challenging substrates
Plastics Metals
• Polyethylene • Aluminium
• Oriented Polypropylene • Tin-plate
• Polyester • Tin-free steel
• Polyacrylate
• Polycarbonate
• Polystyrene
• Polyvinyl Chloride
• Acrylonitrile-Butadiene-Styrene
• Thermoplastic Polyurethane
• Polyamide

26 20 APRIL 2022