Evonik Aims for at Least €1 Billion in Additional Circular Economy Sales by 2030
Evonik is significantly expanding its commitment to developing solutions for the circular economy. By 2030, the specialty chemicals company aims to generate at least €1 billion in additional sales a year from circular products and technologies. "The circular economy is a strong growth driver for Evonik and helps us to generate sustainable value," said Harald Schwager, Deputy Chairman of the Executive Board of Evonik.
The company's circular economy strategy is based on several levers: Evonik wants to further strengthen its activities with additives and specialties for the circular economy. At the same time, Evonik intends to make greater use of defossilized raw materials based on recycled materials, biomass and CO2. The company also continues to develop its own technologies for closing the loop: for example, for chemical recycling of PET waste streams that cannot be recycled mechanically. It is also developing technologies that allow carbon dioxide and bio-based raw materials as feedstock.
Lauren Kjeldsen, Head of the Smart Materials Division and responsible for the Circular Economy Program, said: "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."