Evonik Strengthens Its Position in the Catalysts Market

Evonik Strengthens Catalysts Market Position Alkoxides from Evonik will now be produced and marketed under the Catalysts Business Line. Evonik is consolidating its expertise and integrating the alkoxides business into the Catalysts Business Line. This means that the comprehensive heterogeneous catalyst portfolio is now being complemented by homogeneous catalysts. The highly experienced alkoxides team and an international network of production facilities will further strengthen the Catalysts Business Line, one of Evonik's growth areas, starting from January 2023. The chemical industry is undergoing a profound transformation. Catalysts are at the center of this transformation, primarily driven by sustainability issues such as circular economy, CO2 reduction or decarbonization, since catalysts are needed in approximately 80 percent of all chemical processes. Internal integration supports the transformation of the chemical industry and Evonik's expansion strategy on its path to becoming a leading global catalyst supplier for the chemical industry. Business Line Director Sanjeev Taneja stated, "Currently, the global market for catalysts is highly fragmented," and added "Against this background, we are continuing our growth journey by providing innovative catalysts and adsorbents that deliver sustainable customer value. We are gradually expanding our product and service portfolio in line with Next Generation Solutions - through targeted acquisitions or strategic partnerships, enabling our customers to manage their own transformations. We are doing this by offering catalysts that provide new sustainable production processes, products and applications. The integration of alkoxides will be a driving force for our efforts." The main application of alkoxides is the production of sustainable biodiesel fuel from vegetable oils, used cooking oils or other oil-based waste streams. The use of alkoxides optimizes the process toward the highest raw material yield possible. Alkoxides find numerous applications in the synthesis of active ingredients and fine chemicals, as well as in the life sciences industry. A particularly promising opportunity for alkoxides is the chemical recycling of PET plastic. Evonik is currently working with its partners to break down polymer chains into their original monomers and thereby recreate the chemical building blocks used at the start of plastic production. These components can then be used to produce new high-quality polymers for advanced applications. The Alkoxides business, as a separate product line within the Catalysts Business Line, will be managed by Alexander Weber, an experienced leader in the alkoxides business, and will report as part of the Smart Materials division as of 1 January 2023. The business unit achieved sales of approximately EUR 300 million in 2021. Alexander Weber stated, "The merger makes sense and is not the last step on our joint path. By combining various functions such as research and development at our Hanau facility, our core competencies and expertise will be brought together and work in a more targeted manner, and we will learn from each other in processes such as supply chain and digitalization, as well as in terms of customer-related support alongside specific products." "The services we provide to our customers in the joint business area continue to meet their expectations. Existing processes, structures and contacts - from product quality and delivery to regional sales channels - will remain unchanged. From July 2023 onwards, we will have a joint market presence." Evonik wants to make an important contribution to the transformation of the chemical industry by making its technologies faster, more efficient and more cost-effective. The integration will support this. Source