Jon Penrice, the Asia Pacific President of Dow Inc, believed that climate change opens a big opportunity for innovations in the petrochemical sectors. The company is reducing its carbon footprint and product portfolio to meet evolving customers demand. Dow vowed to be carbon-neutral by 2050 by improving energy efficiency and using renewable energy at its plants. It also develops solutions that can help customers cut their emissions. These products include sealants that increase heating efficiencies in buildings and materials that improve battery efficiencies.
Dow announced its MobilityScience platform in 2020 to enable automakers to shed the weight of their electric vehicles to save energy use and reach greater range. Dow also offers coatings that can make wind turbine blades more resistant to icing during winter. The company is also developing easy-to-recycle, single-layer food packaging.
Dow sees improved sales in the fourth quarter driven by higher demand for packaging for takeaway food and cleaning agents during the lockdown period. The company’s sales rose 4.7% year-on-year to $10.7 billion for the fourth quarter, although annual sales decreased 10.5% year-on-year to $38.5 billion in 2020.
