Company: AVNT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001122976-25-000008
Chunk: 2

Company: AVIENT CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 2
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-high molecular weight (UHMWPE) fiber is relied upon and incorporated into tactical vests, hard armor plates, shields, bomb suits, helmets, and military vehicles (air, sea and ground). In the transportation industry, plastic has proven to be durable, lightweight and corrosion resistant while offering fuel savings, design flexibility and high performance, often replacing traditional materials such as metal and glass. In the medical industry, plastics are used for a vast array of devices and equipment, including blood and intravenous bags, medical tubing, catheters, lead replacement for radiation shielding, clamps and connectors to bed frames, curtains and sheeting, electronic enclosures and equipment housings. In the outdoor high performance industry, plastic applications are used for components and colorants for all terrain vehicles, and reinforced polymers are used for various outdoor equipment and gear. In the electronics industry, plastic enclosures and connectors not only enhance safety through electrical insulation, but thermally and electrically conductive plastics provide heat transferring, cooling, anti-static, electrostatic discharge, and electromagnetic shielding performance for critical applications including integrated circuit chip packaging.

Various additives can also be formulated with a base resin and further engineered into a composite to provide them with greater versatility and performance. Polymer formulations and composites have advantages over metals, wood, rubber, glass and other traditional materials, which have resulted in the replacement of these materials across a wide spectrum of applications. These specialized polymers offer sustainability and performance advantages compared to traditional materials, including design freedom, processability, weight reduction, chemical resistance, flame retardance and lower cost. Plastics are renowned for their durability, aesthetics and ease of handling. Avient’s strategy and investments are aligned to enable these important benefits, now and in the future.

Avient Segments

We operate in two reportable segments: (1) Color, Additives and Inks and (2) Specialty Engineered Materials. Our segments are further detailed in Note 14, Segment Information, to the accompanying consolidated financial statements.

Competition

The manufacturing of custom and proprietary formulated thermoplastics, polymer composites, and color and additive solutions is highly competitive. Competition is based on service, performance, product innovation, product recognition, speed, delivery, quality and price. The relative importance of these factors varies among our products and services. Our competitors range from large international companies with broad product offerings to local independent custom producers whose focus is a specific market niche or product offering. Our strategic approach to differentiate, innovate and grow within this competitive environment is to intersect high-growth markets and