Becoming Fully Circular and Climate Neutral
Covestro returns to the China International Import Expo in Shanghai
- Participation in major trade expo for three years in a row
- First showcase of chemically recycled PU foam in China
- Strengthening partnerships from mobility to construction for a circular future
For the third consecutive year, Covestro is participating in the China International Import Expo (CIIE), an annual event dedicated to promoting imports and fostering international cooperation happening in Shanghai. The German materials manufacturer aims to utilize this platform to strengthen partnerships with value chain partners and showcase its latest achievements and commitment to circularity.
“In the face of global challenges such as climate change, innovative materials like plastics are needed more than ever to drive progress towards a truly sustainable future ,” says Dr. Markus Steilemann, CEO of Covestro. “China, with its ambitious climate targets, is a leader in dynamic markets like electric vehicles and renewable energy. We are eager to contribute our material expertise to aid the nation’s transition, while driving fresh business momentum.”
Under the banner of “Becoming Fully Circular and Climate Neutral,” Covestro’s CIIE booth features dedicated areas, including “Beyond Mobility”, “Green Home”, “Renewable Energy” and “Fully Circular”. Several showcases will highlight the pivotal role of sustainable materials in these sectors. Additionally, a dedicated “Covestro Story” area shall engage visitors, particularly those outside the chemical industry.
Chemical recycling of polyurethane foams
The “Fully Circular” zone will for example demonstrate advancements in recycling technologies and in the use of alternative raw materials. Notably, it will showcase a recycled foam created through Covestro’s proprietary chemical recycling process. This groundbreaking process is capable of transforming end-of-life mattress foam directly into its core building blocks, breathing new life into old foam.
At the center of “Beyond Mobility” stands Chinese EV maker HiPhi’s latest luxury SUV – the HiPhi Y. It extensively incorporates Covestro’s advanced and sustainable material solutions in interior and exterior components. This includes the use of high optical performance polycarbonate in LiDAR lenses, taking advantage of the material’s temperature resistance up to 115 degrees Celsius along with its excellent infrared transmittance, ensuring the reliable and stable operation of the entire system. The strengthened partnership builds upon a cooperation agreement signed between the two sides at last year’s CIIE.
Covestro also aims to foster collaborations for ultra-low energy buildings (ULEB). The company’s materials can support making buildings more energy efficient and causing less emissions – key to the sector, which is one of the major contributors of global emissions. Covestro will for example show polyurethane pultrusion composites for window frames, and highly efficient building insulation solutions at the “Green Home” zone. At this year’s CIIE, the German materials manufacturer will sign agreements with Chinese real estate developers and value chain partners, forming multi-party business collaborations in this vital domain to expedite the adoption of sustainable solutions.
“The CIIE has consistently proven to be a highly rewarding endeavor for Covestro. It offers a unique platform to strengthen partnerships and promote our approach to becoming circular and how we can support downstream industries to do the same,” says Holly Lei, president of Covestro China. “We are committed to delivering versatile solutions and exploring innovative business models in collaboration with value chain partners both within and beyond the CIIE venue, in support of China’s sustainable development.”
The CIIE stands as the world’s first national-level import-themed exhibition, an annual event since 2018. This year, it draws over 3,400 international exhibitors and is expected to host hundreds of thousands of visitors. The CIIE serves as a platform that fosters international procurement, investment promotion, cultural exchange, and open cooperation. China’s ambitious climate goals, including reaching peak carbon emissions by 2030 and attaining carbon neutrality by 2060, carry global significance to meet the Paris’ agreement and remain a consistent focal point in the exhibits and activities at the CIIE.
For a closer look at Covestro’s solutions for a fully circular future at the CIIE, visit us at booth 3B6-05, at the National Exhibition and Convention Center (Shanghai) from November 5 to 10, 2023.
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, cosmetics and health, as well as in the chemical industry itself.
The company is committed to becoming fully circular and is striving to become climate neutral by 2035 (scope 1 and 2). Covestro generated sales of EUR 18 billion in fiscal 2022. At the end of 2022, the company had 50 production sites worldwide and employed approximately 18,000 people (calculated as full-time equivalents).
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.