"Our long-term plan is to keep on track with a circular economy and with our climate targets," Chief Commercial Officer Sucheta Govil said at an Oct. 18 press event on the day before the show opened in Düsseldorf, Germany.
Govil added that Leverkusen, Germany-based Covestro (Hall 6, Booth A75) wants to improve its energy efficiency and its purchases of green energy, with a goal of being climate-neutral by 2035.
In a news release, CEO Markus Steilemann added that plastics "are a must to drive the shared global vision of the circular economy and achieve climate neutrality. ... We want to highlight the huge potential of these advanced materials to solve global challenges and showcase promising developments."
At K 2022, The firm is emphasizing its CQ (circular intelligence) line of products that have at least 25 percent biomass, recycled content or green hydrogen. Officials said that the new materials aim to create greater transparency and to make it easier for customers to distinguish them from conventional, fossil-based products.
"We want to make sure that we offer solutions to our customers that they can easily drop into their manufacturing processes," Govil said.
But the current market has its share of challenges.
"The world is facing a crisis," Govil said. "There's the war [in Ukraine], the energy crisis, inflation and recovery from the [COVID-19] pandemic."
Supply chain issues also are presenting challenges to Covestro and other materials firms.
"You can't just say you want to make something in one part of the world and supply it to another anymore," Govil added. She also said that although supply chains are improving through better forecasts, they're also challenged by continuing volatility and by high energy costs in Europe.