Covestro AG Overview
Company Headquarters: Germany
Founded: 2005
Workforce: ~16,500
Company Working: Covestro AG develops, produces, and markets polymeric materials for various industries, including automotive, electronics & electrical, building & construction, medical, and lighting. The company has 30 production sites worldwide and operates under three major business segments- polyurethanes, polycarbonates and coatings, and adhesives and specialties. Under its polycarbonates segment, the company manufactures high-performance plastic polycarbonates in the form of granules, composite materials, and semi-finished products which are primarily used in the automotive, construction, electrical and electronic, and other industries. Covestro Deutschland AG, Covestro GmbH, Covestro Pvt Ltd, and Covestro Polymers Co Ltd, are some of the major subsidiaries of the Covestro Group.
Strategy
Covestro intends to align its entire production and product range to the circular concept in the long term. As part of that, it intends to accelerate transformation to a climate-neutral and resource-conserving economy. The focus is on alternative raw materials, renewable energy, innovative recycling, and joint solutions. Covestro’s aim is to pave the way and support these trends with its materials by replacing traditional materials with durable, light, more environmentally compatible and cost-effective materials, thus, creating a “Sustainable product portfolio.” Covestro’s goal is to devote 80% of its R&D costs by 2025 to projects that contribute to achieving the SDGs.
