Covestro AG - Company Profile
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Business Description
Covestro AG (Covestro) manufactures and markets polymers and plastic materials. The company's product portfolio includes toluene diisocyanate (TDI), diphenylmethane diisocyanate (MDI), polyether polyols, high performance plastic and aliphatic and aromatic isocyanates, among others. Its products are used in various industries such as automotive, packaging, medical engineering, wood and furniture, construction, electrical and electronics, sports and leisure, and textiles. The company operates through two major reportable business segments, Performance Materials and Solutions and Specialties.
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R&D Overview
Covestro focuses on developing new applications and improving products and process technologies. It also focuses on activities that promote organic and inorganic growth such as investments, and acquisitions. The company has 13 R&D sites in EMLA, NA, and APAC regions. Covestro is working to create digital advantages for its business by expanding its research and development (R&D) activities and collaborating with major corporations, such as Google. The company is aligning its research and development (R&D) portfolio to the SDGs to increase its contributions further. In FY2022, the company spent EUR361million on R&D, which as a percentage of revenue, stood at 2.01% and grew 5.9% YoY. The company spent this amount on developing new application solutions to its products, refining products and process technologies.
Business Segments
- Others/ Consolidation
- Performance Materials
- Solutions & Specialties
- Other/Consolidation
- Solutions & Specialties
Overview
Includes activities not allocated to the other segments
Overview
Focuses on developing, producing and supplying high performance materials Involved in the sales of standard polyurethanes and polycarbonates, as well as base chemicals. Products sold include diphenylmethane diisocyanate (MDI), toluene diisocyanate (TDI), long-chain polyols, and polycarbonate resins. End user industries for the segment include furniture and wood processing industry, construction industry as well as automotive and transportation industry.
Performance
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Overview
Comprises a variety of polymer products including polycarbonates, precursors for coatings and adhesives, MDI specialties and polyols, thermoplastic polyurethanes, specialty films, and elastomers. End-use sectors utilizing the segment's products include automotive and transportation industry, the electrical and electronics industry, household appliances industry, the construction industry and the healthcare industry
Performance
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Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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