Covestro goes Arabic

ADNOC’s acquisition of Covestro — impacts on Europe, the plastics industry, and additive manufacturing

Source: https://www.covestro.com/press/media-library/

ADNOC — The Abu Dhabi National Oil Company, has acquired Covestro, a leading German chemical company, for an impressive $16 billion!

This transaction is part of ADNOC’s broader strategic shift towards the production of petrochemicals, specialty chemicals, and sustainable energy solutions, while moving away from solely oil production.

The acquisition of Covestro is a major step for ADNOC in becoming a key player in the global chemical industry, especially as Gulf countries strive to diversify their economies amid the global shift towards greener energy sources.

But first, who is Covestro, and what is the company’s role in the AM market?

Covestro was founded in 2015 as a spin-off from Bayer. Previously known as Bayer MaterialScience, it operated as Bayer’s materials engineering division. The company specializes in producing high-performance materials such as polyurethanes and polycarbonates, which are essential in industries like automotive, construction, electronics, and additive manufacturing.

For many years, the company has played a significant role in the 3D printing industry, with a portfolio of around 60 materials and an extensive intellectual property portfolio of hundreds of patents and pending patents.