- Alkoxides from Evonik will now be produced and marketed under the umbrella of the Catalysts Business Line
- Transformation of the chemical industry requires innovative catalysts
- Sustainability and Next Generation Solutions are the focus of activities and are expected to become the growth drivers of the coming years
- Existing sales channels for alkoxides to remain in place continuing to serve our esteemed customers
According to the company’s website press release on January 30, 2023, Evonik is pooling its expertise and integrating its alkoxides business into the Catalysts Business Line. The extensive portfolio of heterogeneous catalysts is thus now complemented by homogeneous catalysts. An international network of production sites and the highly experienced alkoxides team will additionally strengthen the Catalysts Business Line, one of Evonik's growth areas, from January 2023.
The chemical industry is undergoing a profound transformational process. Driven primarily by sustainability issues such as the circular economy, CO2 reduction or decarbonization, catalysts are at the heart of this transformation, as they are needed for approximately 80 percent of all chemical processes.
The internal integration supports transformation of the chemical industry as well as the Catalysts expansion strategy on the way to becoming a leading global catalyst supplier for the chemical industry.
"Currently, the global market for catalysts is very fragmented," said Business Line Manager Sanjeev Taneja. "Against this backdrop, we continue our growth journey by providing innovative catalysts and adsorbents delivering sustainable customer value.
We are gradually expanding our product and service portfolio in the direction of Next Generation Solutions - be it through targeted acquisitions or strategic collaborations thus enabling our customers master their own transformation. And we do this by offering catalysts that enable new sustainable production processes, products and applications. The integration of the alkoxides will boost our efforts.”
The main application of alkoxides is the production of sustainable biodiesel fuel from vegetable oils, used cooking oils or other fat- based waste. The use of alkoxides optimizes the process toward the highest possible yield of feedstock. In the synthesis of active ingredients and fine chemicals, alkoxides also find numerous applications in the life science industry.
One particularly promising prospect for alkoxides is the chemical recycling of PET plastic. Evonik is currently working with partners to split the polymer chains into the original monomers and thus regenerate the chemical building blocks that were used at the start of plastics production. These components can then be used to produce new polymers again for high-quality applications.
The Alkoxides business is managed as a separate product line within the Catalysts Business Line, and will be managed by Alexander Weber, a proven executive from the Alkoxides business and is being reported as part of Smart Materials division as of 1st January 2023. In Fiscal 2021, it generated a turnover of ~ €300 m.
"The merger is logical, and not the last step on our common path. By combining various functions such as research and development at the Hanau site, our core competencies and experience will be bundled and we will work in an even more targeted manner and learn from each other - in terms of specific products as well as supporting customer-related processes such as supply chain and digitalization," says Weber.
Services to our customers of the joint business area continue to meet their expectations. From the quality and delivery of products to the regional sales channels, the existing processes, structures and contacts will remain the same. From July 2023, there will be a joint market presence.
Evonik wants to make a significant contribution to the transformation of the chemical industry by making technologies faster, more efficient and cheaper. The integration will support this.
COMPANY INFORMATION
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €15 billion and an operating profit (adjusted EBITDA) of €2.38 billion in 2021. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. About 33,000 employees work together for a common purpose: We want to improve life today and tomorrow.
ABOUT SMART MATERIALS
The Smart Materials division includes businesses with innovative materials that enable resource-saving solutions and replace conventional materials. They are the smart answer to the major challenges of our time: environment, energy efficiency, urbanization, mobility and health. The Smart Materials division generated sales of €3.92 billion in 2021 with about 7,900 employees.
DISCLAIMER
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.
