Evonik aims at EUR 1 billion in additional annual sales from circular products by 2030
Evonik significantly expands its commitment to developing solutions that contribute to circular economy – the specialty chemicals company aims to generate at least EUR 1 billion in additional sales per year from circular products and technologies by 2030.
Evonik expands its commitment to developing solutions that contribute to circularity.
Evonik’s circular economy strategy is based on several areas. The company will strengthen its activities with additives and specialties for the circular economy. It also intends to make greater use of defossilized raw materials based on recycled materials, biomass and CO2.
Besides that, Evonik will continue to develop own technologies for closing the loop, for example, on chemical recycling of PET waste streams. Nevertheless, it also develops technologies that enable carbon dioxide and bio-based raw materials as feedstock.
In 2022, the additional sales from the circular activities already amounted to more than EUR 30 million, which has exceeded the company’s expectation.
A list of Evonik’s products have already contributed to the circular economy in various chains, including:
Products based on circular raw materials that are labeled “eCO” in the product name, such as VESTAMID eCO
Additives to improve efficiency and yield of recycling processes, and the quality of recycled materials, such as in mechanical plastics recycling with TEGO Cycle
Absorbents for removing impurities in chemical plastics recycling, such as CHLOROCEL
Materials for the production of mono-material packaging that facilitate recycling, such as DEGACRYL heat seal binder
High-performance plastics, such as VESTAMID, and crosslinkers, such as VESTAMIN and VESTANAT, with improved durability and service life
"We want to make the entire industry circular. With our expertise in specialty chemicals, we support our customers in the transition to circular applications by making their manufacturing processes more efficient and improving quality in line with Design for Circularity,” concluded Lauren Kjeldsen, Head of the Smart Materials Division and responsible for the Circular Economy Program.
