Evonik expands global alkoxides business with new Singapore plant
Evonik has begun construction of a new production plant for alkoxides in Southeast Asia.
- New plant to serve Asian market
- Annual production capacity of 100,000 metric tons
- Construction scheduled for completion Q4/2024
Essen, Germany. Evonik has begun construction of a new production plant for alkoxides in Southeast Asia. The mid double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business.
The company is expanding its production capabilities in response to growing demand for alkoxide catalysts, which are primarily used in biodiesel production and in synthesis applications in the pharmaceutical and agricultural industries. In future, alkoxide catalysts will also play a bigger role in the circular economy through their use in the chemical recycling of PET plastics.
“Asia Pacific is a key region for Evonik Catalysts and Southeast Asia plays an important role in our growth journey,” says Sanjeev Taneja, Senior Vice President and General Manager business line Catalysts adding that this investment once again, underlines Evonik’s commitment to its customer–centric “Think Global – Act Local” approach towards increased customer satisfaction and supply reliability.
The investment is seen as a critical step in Evonik’s strategy to expand its position as one of the largest alkoxide manufacturers in the world. “We already have leading production facilities in Europe, North and South America; Asia is the missing piece in a global supply network to regionally serve all relevant markets,” explains Alexander Weber, Global Head of Product Line Alkoxides.
The new plant will be a modern facility with state-of-the-art technology aiming for zero scope 1 & 2 carbon emissions and it will be located at Evonik’s site on Jurong Island, Singapore. “From this strategic location, we can satisfy the growing demand for alkoxides in this very dynamic region and further boost our position as a reliable catalysts partner,” says Hu Song, Alkoxides Business Director, Asia Pacific, and adds: “With energy-efficient and sustainable production, Evonik contributes to the Sustainable Jurong Island Strategy and supports customers in reducing their carbon footprint.”
Following the completion of conceptual and basic engineering, the project is now entering the construction phase, with the alkoxides plant scheduled to become operational by the end of 2024.
Evonik’s global alkoxides supply network and other production sites around the world include Rosario, Argentina; Mobile, USA; and Lülsdorf, Germany.
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 €18.5 billion and an operating profit (adjusted EBITDA) of €2.49 billion in 2022. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. About 34,000 employees work together for a common purpose: We want to improve life today and tomorrow.
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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.