Evonik launches circular economy project to generate at least €1 billion in additional sales by 2030

● Accelerate the transition to a circular economy

● Build strong value chain partnerships

● Circular economy projects set ambitious goals

Evonik is vigorously developing solutions for the circular economy and has set a goal to generate at least 1 billion euros in additional sales annually through circular products and technologies by 2030. Harald, Vice Chairman of the Executive Board of Evonik
Schwager said: “The circular economy is an important driver of Evonik’s strong growth and helps us create sustainable value.”

Evonik’s circular economy strategy is based on multiple aspects, including: further supporting the development of the circular economy through additives and specialty products; increasing the utilization of non-fossil raw materials based on recycled materials, biomass and carbon dioxide; developing its own technology to realize material recycling closed loop. Relevant cases include the chemical recycling of waste PET plastics that cannot be mechanically recycled, and the conversion of carbon dioxide and bio-based raw materials into chemical raw materials.

Cooperation is the cornerstone of circular economy projects

Lauren, Head of Circular Economy Projects and Smart Materials Business Unit at Evonik
Kjeldsen said: “We want to drive the entire industry towards circularity. With our expertise and experience in the field of specialty chemicals, we can help our customers transition to circularity, improve the efficiency of their production processes and do so while following a ‘circular design’ concept. At the same time, we improve product quality.”

Evonik’s circular economy projects encompass the company’s various related activities around the world. Project leader Patrick
Glöckner said: “The successful realization of a circular economy first requires strong partnerships and excellent teamwork. By establishing an ecological network of partners, we can create circular solutions for different value chains.”

Achieve circular development

Evonik has always been committed to promoting efficient use of resources. In 2020, Evonik launched recycling plastic projects globally and officially began its plastic recycling journey. In 2022, the circular plastics project generated additional sales of more than 30 million euros, above the group’s expectations. Previously, Evonik estimated that its global recycling plastics project could generate additional sales of 350 million euros per year by 2030.

In order to include more activities in different value chains, Evonik has launched a new circular economy project to replace the original global circular plastics project. For Evonik, circular economy projects are key to achieving sustainable growth that takes into account economic, ecological and social benefits.

Circular economy technologies and products

Many of Evonik’s products already play a role in different value chains, contributing to the circular economy. For example:

● Eco series products based on recyclable raw materials, including VESTAMID® eCO polyamide 12 (PA12), etc.

● Additives such as TEGO® Cycle can be used in plastic machinery recycling to improve the efficiency of the recycling process and the quality of recycled materials.

● CHLOROCEL™ sorbent removes impurities in chemical recycling of plastics

● DEGALAN® heat-seal adhesive produces mono-material packaging that is easily recyclable

● High-performance plastics (such as VESTAMID®), cross-linking agents (VESTAMIN®, VESTANAT®) and other materials can improve the durability and service life of products