Covestro to Build Largest
TPU Plant in China
Covestro will build the largest Thermoplastic Polyurethane (TPU) plant in Zhuhai, China. This will also be the company’s largest investment in the TPU business.
This investment shows our ongoing commitment to growth in our Solutions & Specialties business entities”, said Covestro CCO Sucheta Govil. “With this new plant for TPU we want to capture the expected fast and high market growth of the TPU market globally, and especially in Asia and China.
The production site will be able to serve both the growing Asian markets, as well as demand in Europe and North America.”
“This investment demonstrates our continued commitment to growth in our Solutions and Expertise business entities,” said Sucheta Govil, CCO of Covestro. “With this new TPU facility, we will achieve the rapid and high market growth expected of the TPU market globally and particularly in Asia and China.
“The production facility will be able to serve both growing Asian markets and demand
in Europe and North America.” It is Expected to Reach Approximately 120,000 Tons of TPU Production Capacity per Year Located in the Zhuhai Gaolan Port Economic Development
Zone in Guangdong province, the new facility will eventually span 45,000 square meters.
It will be completed by 2033 and is expected to reach a production capacity of approximately 120,000 tons of TPU per year. The facility will be built in three phases. Mechanical completion of the first phase is estimated by the end of 2025. This will lead to a production capacity of around 30,000 tons per year and the creation of around 80 new jobs.
The initial investment for this phase is in the mid-double-digit million Euro range.
Stating that he is happy to share this news, Covestro TPU President Dr. Andrea Maier-Richter said, “This new facility will allow us to be close to our customers and value chains in the IT, consumer electronics, footwear and other industries.
The majority of the TPU market and growth prospects are in Asia, and particularly in China. Our investment here clearly demonstrates our goal: In the long term We want to be successful with our customers and partners.”
