● The total investment amounted to tens of millions of euros
● An important step in the global investment layout of the elastomer business
● Products can be used in offshore wind power, photovoltaic panel manufacturing and other fields
The new polyurethane elastomer factory located in Covestro’s integrated Shanghai base has officially started production, aiming to meet the growing demand for elastomer materials in the Asia-Pacific market, especially in the field of renewable energy .
On August 8, 2023, Covestro held a ceremony for the opening of a new elastomer factory at the Shanghai Integrated Base: (from left) Chen Chen, Director of Asia Pacific, Covestro Elastomer Division Min, Yang Jiangang, Chairman of Shanghai Kaizhong Material Technology Co., Ltd., Yuan Quan, Secretary of Shanghai Fengxian District Committee, Lei Huanli, President of Covestro China, Dr. Bai Tuowen, Global President of Covestro Elastomer Division, Shanghai Chemical Industry Park Ma Jing, Party Secretary and Director of the Management Committee, Jin Jian, Party Secretary and General Manager of Shanghai Chemical Industry Park Development Co., Ltd., Dr. Chen Yun, General Manager of Covestro Shanghai Integrated Base
Covestro announced that its new Shanghai polyurethane elastomer factory has officially started production. The factory started construction in Covestro’s Shanghai integrated base in July last year, with a total investment of tens of millions of euros. This is one of the company’s series of elastomer raw material investment projects around the world in recent years. Previously, Covestro has expanded related production capacity in Thailand and Spain. The new Shanghai plant is designed to meet the growing demand for elastomeric materials in the Asia-Pacific market, especially in the field of renewable energy. For example, the material can be used in submarine cable protection, and cutting equipment for photovoltaic silicon wafers.
“We provide material solutions for the world’s path to a zero-carbon and circular economy. The new Shanghai factory is a vivid illustration of this, and its products will support customers to meet the market’s growing demand for renewable energy solutions.” Science Xtron Chief Commercial Officer Sucheta
Govil, “In this way, we are promoting the growth of an industry that is crucial for climate protection. In addition, we will provide elastomers with a share of renewable raw materials, which will contribute to the sustainable development of many industries.”
Elastomer materials produced in the Shanghai factory can be widely used in various end products. For example, in the offshore wind power industry, submarine cable protection is an important application area for elastomer materials. In addition, elastomers are used in the manufacturing process of photovoltaic panels or as screening materials in the mining industry. Elastomer materials developed in close cooperation with customers have excellent abrasion and tear resistance and can withstand the harsh environmental conditions of these applications.
Dr. Thomas Bai, Global President of Elastomer Division of Covestro
Braig said: “We want to support the growth of our customers and actively participate in the growth of key industries. We expect the elastomer market to grow faster than China’s GDP growth, and we look forward to helping customers seize this business opportunity. This is our elastomer business Reason for a series of investments around the world, including the newest Shanghai factory.”
The new factory is the 12th factory in Covestro’s integrated base in Shanghai. Shanghai base
Started construction in 2001, it is the largest comprehensive production base of Covestro in the world. By the end of last year, the accumulated investment in the base had reached about 3.7 billion euros.
Lei Huanli, President of Covestro China, said: “Covestro takes the realization of comprehensive circularity as its vision, and aims to achieve climate neutrality in operations by 2035, which is in line with China’s ‘dual carbon’ goal. With the help of Covestro in Shanghai With the continuously enriched product portfolio of the integrated base, we can provide material solutions such as elastomers for many fields including renewable energy, thus making important contributions to the sustainable development of China and more markets.”
Shanghai Integrated Base is approved by ISCC
One of the Covestro production sites with PLUS mass balance certification. This means its ability to supply mass-balanced materials with a share of renewable raw materials. By using mass balance products, customers in downstream industries can reduce their carbon footprint without having to modify their production processes. At the same time, in order to make the circular solutions in the product portfolio more visible to customers, Covestro has launched a product called “CQ” (Circular
Intelligence’s brand concept to identify products with at least 25% alternative raw material content.
In addition, Covestro also announced that the elastomer business has officially launched its Alibaba 1688 flagship store, providing a full range of elastomer products through the online platform to better meet customer needs and improve the purchasing experience.
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