Due to increasing global demand for high-performance polymers Evonik’s Resource Efficiency Segment is significantly expanding its production capacity for polyetheretherketone (PEEK) at the Changchun (China) site. In addition, the innovation pipeline is being continually expanded with new products.
Business in Evonik’s VESTAKEEP® brand of PEEK polymers has experienced consistent and strong growth over the last five years across all relevant industry segments for example, oil and gas, aviation and automotive. “We’re very pleased to be able to participate in increasing global demand for PEEK products,” says Dr. Matthias Kottenhahn, Head of the High Performance Polymers Business Line. “The investment affirms our commitment to support our customers’ growth over the long term as well as to continually expand our product portfolio.”
New products for specialty applications
Thanks to their high thermal and chemical resistance, VESTAKEEP® specialty polymers can replace metal components enabling demanding lightweight structural applications.
VESTAKEEP® Easy Slide I is a recently developed PEEK compound which stands out by offering excellent abrasion resistance and low sliding friction, thereby allowing production of ever smaller and more powerful structural elements such as vacuum pumps. The recently introduced VESTAKEEP® 5000 HCM (hot compression molding) grade increases the production efficiency of customized PEEK seals delivering superior mechanical properties and performance for the oil and gas industry.
A reliable partner with longstanding expertise
Evonik has more than 40 years’ experience in the development and production of high performance polymers. Its comprehensive product portfolio includes solutions for almost any industrial application. The Group is therefore well-positioned as a reliable partner on the global PEEK market for the long term. “Our strategy is to pursue joint project development with our customers to ensure the continuity of the innovation pipeline,” says Sanjeev Taneja, Vice President of High Temperature Polymers. “Our aspiration is to offer high-quality products that lead to commercialization of new projects for our customers.”
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2014 more than 33,000 employees generated sales of around €12.9 billion and an operating profit (adjusted EBITDA) of about €1.9 billion.
Evonik Industries has been producing specialty chemical products in the Greater China region (Mainland China, Hong Kong and Taiwan) since the late 1970’s; with wide-ranging trading relations already in place prior to this in the region. Evonik regards Greater China as one of the driving forces of the global economy and we consequently endeavour to grow our business in the region. The company now has around 3,000 employees in the Greater China region, the regional sales reached over €1.1 billion in 2014.
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.