Covestro: a brief overview
The company’s name denotes: collaboration (CO), invested (VEST) and strong (STRO). Covestro is comprised of two main segments: Performance materials and Solutions & Specialties. The Performance Materials segment includes standard polycarbonates, urethanes and base chemical businesses, whereas the Solutions & Specialties segment comprises six different business units, which are separated as follows: Engineering Plastics, Coatings and Adhesives, Tailored Urethanes, Thermoplastic Polyurethanes, Specialty Films, and Elastomers. The company's Performance Materials segment is the highest-earning segment, with sales revenue of 9.1 billion euros in 2022. That amounted to a 50 percent share of the company's revenue.Covestro’s segments serve the automotive, electrical and electronics, construction and home products, as well as the sports and leisure industries. As of year end 2022, the number of employees working for Covestro stood at 18,013. The company’s component product materials are found in mattresses, footwear, laptops, building and refrigeration insulation, automotive headlamps, car seats, and in several polycarbonates.