Covestro showcases its latest achievements at the 6th CIIE
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Covestro, the German materials manufacturer, made its third consecutive appearance at the China International Import Expo (CIIE), an annual event dedicated to promoting imports into China and fostering international trade and cooperation.
Under the banner of 鈥淏ecoming Fully Circular and Climate Neutral,鈥 Covestro showcases its latest achievements and its vision for circularity during the annual event between November 5 and 10 at the National Exhibition and Convention Center in the outlying Qingpu District.
In a world facing climate change and pressing challenges in various sectors, Covestro remains committed to addressing these issues through innovative materials solutions and promoting a circular economy, the company said. Collaboration with partners plays a crucial role in this endeavor.
鈥淭he 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,鈥 says Holly Lei, president of Covestro China. 鈥淲e 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鈥檚 sustainable development.鈥
This year, Covestro鈥檚 CIIE booth features dedicated areas, including 鈥淏eyond Mobility,鈥 鈥淕reen Home,鈥 鈥淩enewable Energy鈥 and 鈥淔ully Circular.鈥 Several showcases are highlighting the pivotal role of sustainable materials in these sectors. Additionally, a dedicated 鈥淐ovestro Story鈥 area shall engage visitors, particularly those outside the chemical industry.
For example, Covestro is showcasing polyurethane pultrusion composites for window frames, and highly efficient building insulation solutions at the 鈥淕reen Home鈥 zone. These solutions can support making buildings more energy efficient and causing less emissions 鈥 key to the sector, which is one of the major contributors of global emissions.
Furthermore, during the CIIE, Covestro has entered into partnerships with major Chinese property developers, including Shanghai Pudong Development (Group) Co Ltd (PDG Group) and Shanghai Lujiazui (Group) Co Ltd, as well as key industry collaborators, to advance the widespread adoption of these green building solutions.
These endeavors closely align with China鈥檚 stringent energy goals in the construction sector, addressing the urgent challenge of buildings contributing to over half of the nation鈥檚 carbon emissions, according to Markus Steilemann, CEO of Covestro, who is participating in the CIIE for the first time in person.
鈥淐ovestro is devoted to becoming fully circular. At the same time, we help our customers and major industries to achieve climate neutrality through our material innovations. The construction industry, particularly in China, is central to this mission. With our new partnerships we will expedite the adoption of eco-friendly construction practices in China and jointly play a vital role in mitigating climate change,鈥 added Steilemann.
At the center of 鈥淏eyond Mobility鈥 stands Chinese EV maker HiPhi鈥檚 latest luxury SUV 鈥 the HiPhi Y. It extensively incorporates Covestro鈥檚 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鈥檚 temperature resistance up to 115 degrees Celsius along with its excellent infrared transmittance, ensuring the reliable and stable operation of the entire system.
At the CIIE, Covestro and HiPhi also unveiled a joint lab to advance low-carbon materials and smart technologies for future mobility. Andre Rittermeier, head of Group Innovation and Sustainablity APAC at Covestro, said both companies will utilize their assets and research resources to contribute to the new lab.
鈥淪o it鈥檚 not only we are developing and they are building it. It鈥檚 really a joint cooperation,鈥 Rittermeier said in an interview.
鈥淎s the mobility industry embarks on a journey toward carbon neutrality, the demand for circular, low-carbon footprint materials is growing rapidly and will only accelerate in the near future,鈥 said Lily Wang, president of the Engineering Plastics segment at Covestro. 鈥淲e hope to collaborate with more like-minded companies, like HiPhi, to accelerate the decarbonization trend and pioneer smart technology development at the same time.鈥
Collaboration with China
Over the decades, Covestro has nurtured an exceptional level of collaboration with China, which accounts for 20 percent of the company鈥檚 global sales. The company鈥檚 investments into the country have amounted to 3.9 billion euros as of the end of 2022.
Notably, Shanghai is home to its largest production site worldwide, APAC innovation hub and the global headquarters of one of its major business units, along with several key APAC regional headquarters functions.
In September, Covestro broke ground on what will become the company鈥檚 largest production site for the versatile TPU material in Zhuhai, Guangdong Province.
The company is also committed to pioneering climate neutrality and circular economy efforts in China. At its Shanghai production site, over 40 percent of its electricity needs is already covered by renewable power. At the same site, it recently inaugurated the company鈥檚 first dedicated mechanical recycling polycarbonate compounding line worldwide.
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