Covestro Statistics: Covestro AG is involved in the production and supply of polymers. It operates in the following segments: Polyurethanes, Polycarbonates, Coatings, Adhesives, and Specialties.
The Polyurethanes segment also includes the production precursors like isocyanates or polyether polyols. The Polycarbonates segment provides plastic polycarbonate as granules or semi-finished products to the automotive industry.
The Coatings, Adhesives, and Specialties section are responsible for developing precursors to polyurethane systems, including polymer materials and dispersions based upon the isocyanates. The company was established in Leverkusen in Germany in 1863.
All Industries:
Automotive
Application: Light duty architectural metal, Screens and displays, Electric car components, Automotive Lighting, Automotive interior, Automotive seating, and Automotive exterior.
Construction
Application: Light duty architectural metal, Decorative Exterior, Decorative interior, PU resins for pultrusion, Pipelines & cables, Doors & windows, Flooring, Walls, facades & roofs, and Insulation & protection.
Cosmetics
Application: Skincare, Makeup & nail polish, Hair care, and Sun protection.
Electronics, Electrical, and Appliances
Application: Screens and displays, Batteries & chargers, Appliances, Housing & insulation, Lighting & LED, and Cases for consumer electronics.
Energy
Application: Wind energy, PU resins for pultrusion, Energy Storage, Solar panels, and Pasquick.
Healthcare
Application: Wound care, Surgical, Eyewear, Drug delivery, and Electro medical equipment.
Industrial & agricultural applications
Application: Seed coatings, Light duty architectural metal, Wheels & rollers, Oil & gas, Profiles & Belts, ACE Equipment, Animal Identification Tags, Mining, and Pasquick.
Marine & Ships
Application: Marine & Ships
Packaging and print
Application: Flexible Packaging, Paper & Board, Cans and containers, Printing rollers & blades
Rail
Application: Rail exteriors, Rail interior, and Pasquick.
Security and protection
Application: Protective apparel and ID & security documents.
Sports and leisure
Application: Triturn-Technology, 2D printing, Textured synthetics, Functional textiles, Sports equipment, Goggles & wearables, and Shoes & footwear.
Wood and furniture
Application: Powder coatings, Triturn-Technology, Mattresses, Hard furniture, Engineered wood & wood assembly, and Upholstery
Covestro at a Glance:
- Covestro was first listed on the stock exchange shortly after its independence. The company has proven to its customers and investors that they have what it takes: a strong, efficient product base, combined with flexibility, a sense of purpose, and 80 years of experience.
- 900 employees work at 50 production locations around the world and are the backbone of an organization’s success. The corporate headquarters is located in Leverkusen (Germany).
- The company was able to grow and consolidate its position in global markets through a sound company setup and innovative power. Covestro generated EBITDA of EUR 3.0 billion and Group sales of EUR 15.9 billion in fiscal 2021. Core volumes were sold up 10%. The free operating cash flow grew to EUR 1.4 billion.
Locations:
Australia, India, Korea, Singapore, Vietnam, China, Indonesia, Malaysia, Taiwan, Greater China, Hong Kong SAR, Japan, New Zealand, and Thailand.
Statistics:
Covestro’s Revenue by Region 2021
Covestro’s revenue from Europe, Africa, the Middle East, and Latin America was 8.07 billion US$ in 2021 (excluding Mexico). Covestro, a Bayer spinout, was founded in autumn 2015. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Covestro’s Net Income 2015-2021
Covestro had a net income in 2021 of 1.89 billion US$. Covestro, a Bayer spinoff that was founded in autumn 2015, is an example of a Bayer spinout. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Covestro’s Number of Employees 2015-2021
In 2021, Covestro had 17,557 employees. Covestro, a Bayer spinout, was founded in autumn 2015. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Covestro’s Revenue Distribution by End-market 2021
Covestro’s 2021 total revenue was 15%, of which 15 percent came from the construction market. Covestro, a Bayer spinout, was founded in autumn 2015. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Covestro Market Share of Selected Portfolio Materials as of 2021, by Material
Covestro had a 42% market share in 2021 for aliphatic-isocyanate derivatives. Polycarbonates, with 25% of the global market, was Covestro’s second largest material market share.
Covestro’s Research and Development Spending 2015-2021
Covestro spent around 400 million US$ in research and development between 2015 and 2021. Covestro, a Bayer spinout, was founded in autumn 2015. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Covestro’s Specific Greenhouse Gas Emissions 2015-2021
Covestro’s greenhouse gas emissions in 2021 were 0.33 metric tons’ carbon dioxide equivalent per ton of production volume. Covestro, a Bayer spinout, was founded in autumn 2015. The company was previously Bayer’s materials science division, Bayer MaterialScience. It is involved in the production and marketing of high-tech polymers.
Competitor:
Covestro Competitor Table
| wdt_ID | Company Name | Headquarters | No. of employees | Revenue | Entity type |
|---|---|---|---|---|---|
| 1 | Dow Inc. | United States | ~ 35,700 | $58.4B | Public |
| 2 | Huntsman Corporation | United States | ~ 9,000 | $9B | Public |
| 3 | BASF SE | Germany | ~ 110,828 | $91.9B | Public |
| 4 | Henkel AG & Co. KGaA | Germany | ~ 52,000 | $22.8B | Public |
| 5 | Evonik Industries AG | Germany | ~ 33,151 | $18B | Public |
| 6 | Lanxess AG | Germany | ~ 14,886 | $9.3B | Public |
| 7 | Clariant Ltd. | Switzerland | ~ 13,374 | $5.1B | Private |
| 8 | Lubrizol Corporation | United States | ~ 10,000 | $6.5B | Public |
| 9 | Wanhua Chemical Group Co. | China | ~ 17,581 | $11.3B | Public |
| 10 | Hexpol | Skane County | ~ 4,550 | $1.8B | Public |
| Company Name | Headquarters | No. of employees | Revenue | Entity type |
Segment Strategy:
Performance Materials Segment Strategy
The Performance Materials segment consists mainly of polyurethanes, polycarbonates, and other product groups. The Solutions & Specialties segment uses the standardized products from this segment to sell them to customers outside. Performance Materials is the only segment that produces standardized products. Its primary goal is to improve efficiency through cost management and process innovation. Polyurethane demand is expected to rise sharply in the coming years. The precursors required for rigid and flexible foams are manufactured by the company. The construction and furniture industries are strategic sectors where the company is well-positioned.
The company plans to expand in both these industries. The short- and long-term demand for products reflects the global efforts to meet the SDGs. The demand for more energy-efficient homes is expected to drive long-term interest in insulation solutions for the construction industry. Because of the lack of demand from the construction and consumer goods sectors, the market for standard polycarbonates will not grow much in the next few years. The majority of the polycarbonate volume will eventually be transferred to the Solutions & Specialties segment, which will then process it and sell it in high-growth markets.
Performance Materials is the home of most production facilities and is therefore crucial to implement the circularity strategy. This section focuses on developing sustainable products, such as diphenylmethane (MDI) and toluene (TDI). Alternative raw materials allow us to produce diisocyanates with a lower carbon footprint. This is proven and certified through mass balancing as well as the ISCC PLUS certification of end products. Many of the precursors from the Performance Materials segment are further processed by the Solutions & Specialties section or sold with additional, customer-focused service. Intersegment transactions occur at arm’s reach and are reported separately as intersegment sales.
Solutions & Specialties Segment Strategy
The Solutions & Specialties section covers a wide range of specialty products as well as customer-specific solutions. These include Engineering Plastics, Precursors for Coatings & Adhesives, Polyurethane Specialties and Solutions (Tailored Urethanes), Polyurethane Specialties and Solutions (Tailored Urethanes), Polyurethane Specialties, and High-Quality Films (Specialty Films) and specialty elastomers like Elastomers and specialty elastomers.
Covestro expects above-average growth in this sector, especially in Engineering Plastics and Specialty Films. To continue to grow the Solutions & Specialties segment, Covestro continually updates its product portfolio with a special focus on advanced solutions that are in high demand for promising applications. These include smart homes and medical technology. The segment’s strategy is based on the development of new products and applications that provide significant customer benefits. The success of this segment’s growth strategy is also dependent on the appreciation and respect of customers for their strong technological competence.
This includes being able to stand out from the competition by providing global leadership in application technology consulting and carrying out complex projects for customers. The company has expertise in chemical formulas and compounding, efficient expansion of capacity, customer-focused product design, and continuous improvement of the customer-centric pull supply chains.
Recent Developments:
2022
- Covestro extends its contract with Dr. Markus Steilemann, CEO, ahead of schedule up to 2028
- Covestro invests in innovation: At its new wind technology center, Covestro studies material solutions for sustainable energy generation.
- In collaboration with customers, optimization and new development for PUR resins
- For optimal results, simulate manufacturing processes
- Innovative developments in chemical recycling
- Recycle-friendly products are now available in new product applications
- Desmodur CQ launches circular product concept
2021
- Covestro and Teknor Apex signed a cooperation agreement in May to work together on the compounding of thermoplastic polyurethane.
- Covestro signed an agreement in September to purchase the Resins & Functional Materials business of Royal DSM for EURO1.6 million.
2020
- EconCore and the Company partnered in January to create strong, lightweight honeycomb panels.
- Genomatica and Covestro signed an agreement in March to jointly research and develop high-performance materials using renewable feedstock.
- Covestro, which is a European system houses company, signed an agreement in June to sell it to H.I.G. Capital.
- Covestro, Royal Vopak, Mitsubishi Corporation, and AP Ventures invested EUR17 million in Hydrogenous LOHC Technology and its Liquid Organic Hydrogen Carrier technology to support hydrogen logistics.
- The company partnered with the Technical University of Denmark for the Dural edge project in August.
- Covestro, a European supplier of polycarbonate sheets, signed an agreement in September to sell its business to Serafin Group.
- Covestro, a European supplier of polycarbonate sheets, signed an agreement in September to sell its business to Serafin Group.
- Worley Parsons was awarded an EPCM framework contract in November by the Company to Covestro for its large and medium investment projects portfolio.
- Covestro and Orsted signed an agreement in December for offshore green power.
Recent News:
July 2022:
- Covestro Inclusive Business Vietnam wins big-league grant
- Covestro Taiwan named a finalist in the 2022 Gartner Communications Awards
- Two new production facilities for Covestro have opened in Shanghai
- Design Innovation in Plastics 2022 Winner Announced
- Pearl Polyurethane collaborates with Covestro in order to supply climate-neutral1 MDL
June 2022:
- The importance of thermal insulation in climate neutrality
- Covestro drives electrification using more sustainable materials
- Covestro develops innovative recycling technologies
- Covestro and SK geo-centric join forces to create a value chain for renewable attributed MDI within APAC
- TPU films of Covestro are certified by OEKO-TEX.
- Covestro extends contract to CEO Dr. Markus Steilemann in advance of schedule, until 2028
May 2022:
- Covestro wins Safety Award Grand Prize from Japan Chemical Industry Association
- Covestro launches new production lines for Desmodur, 15 prepolymers
- Covestro now adds 3D printing filaments in the Strategy’s FDM material ecosystem
- Materials solutions for wound care and wearable smart patches
- Covestro moves brand name for 3D printing materials filaments pellets and powders to Addigy.
April 2022:
- Covestro extends film production in Germany
- Covestro creates a bridge to the circular economy in ACS 2022
March 2022:
- Covestro is a pioneer in the supply of renewable1 TCI
