Evonik said its Additives business recorded a positive demand trend for products serving paints and coatings as well as oil additives. Selling prices increased, and overall Additives sales rose considerably.

The company did not disclose sales or earnings specifically for coatings additives. Custom Solutions also includes other specialty chemical businesses, so the segment's 4% sales increase should not be interpreted as coatings-additives growth alone.

Evonik's Advanced Technologies segment also reported continued positive development in crosslinkers. Segment sales increased 19% to €1.71 billion, while adjusted EBITDA rose 87% to €377 million. The business serves multiple markets beyond coatings.

Companywide third-quarter sales increased 13% to €3.83 billion, supported by a 10% increase in selling prices and 2% higher volumes. Adjusted EBITDA increased 40% to €629 million.

Evonik now expects its full-year adjusted EBITDA to fall in the upper half of its €2.0 billion to €2.2 billion guidance range.

The company also provided an update on its portfolio restructuring. Evonik said the sale process for its Oxeno C4 chemicals business is progressing as planned, with a buyer expected to be announced in the coming months. Preparations have also begun for a possible sale of Syneqt, which operates Evonik's chemical parks in Marl and Wesseling, Germany.

No buyer or definitive transaction has been announced for either business.

Evonik recorded €313 million in third-quarter provisions related to its Evonik Tailor Made efficiency program, which the company plans to extend through 2029.

Read Evonik's third-quarter results.

Evonik is a major supplier of specialty additives and crosslinkers used by coatings formulators. Improved demand and higher pricing in its Additives business provide another indication that coatings raw-material suppliers are navigating a market characterized by recovering demand in selected applications and continued cost pressure. Follow PCI's Paint and Coatings Additives coverage.