Covestro is a German producer of high-performance polymer materials headquartered at Kaiser-Wilhelm-Allee 60 in Leverkusen. It makes the chemical building blocks behind rigid and flexible foams, coatings, adhesives, elastomers and transparent plastics, and sells them into automotive, construction, electronics, furniture, healthcare and refrigeration applications. The management board named in the company imprint consists of CEO Markus Steilemann, Christian Baier, Monique Buch and Thorsten Dreier.
Bayer carve-out and present ownership
Covestro was carved out of Bayer and has operated as a standalone listed company since 2015; its own milestone list records a tenth anniversary in 2025. The company is part of the XRG platform, and its shares are held by ADNOC International Germany Holding AG and XRG P.J.S.C. Covestro continues to publish its own results, press releases and investor material under its existing name.
Two segments, seven business units
The portfolio is organised into two segments: Performance Materials and Solutions & Specialties, which between them contain seven business units. The company describes the split as following the different business logic and customer requirements of large-volume production on one side and formulated specialty products on the other. Product families include MDI and TDI isocyanates for polyurethane systems, polycarbonate resins and sheet, raw materials for coatings and adhesives, and elastomers. In September 2026 Covestro introduced a Desmodur ClimateValue pMDI grade with a verified reduced product carbon footprint, and reported with its partner puren a further step to reduce the environmental footprint of purenit, a foam used in construction.
MDI capacity plans in China and the UAE
On 30 June 2026 Covestro set out a strategic MDI investment programme. The company is preparing a new MDI train with 660 kilotonnes of annual capacity at the Covestro Integrated Site Shanghai in China, with start-up targeted for the end of the decade, and is conducting a feasibility study for a plant of similar scale in the United Arab Emirates. The UAE project builds on an existing partnership with TA'ZIZ and Fertiglobe. Both trains are intended to reach an operational net-zero greenhouse gas footprint, and Covestro presents the spending as a response to growing global MDI demand and as a way to secure long-term supply for customers.
Ammonia supply and feedstock diversification
On 11 September 2026 Covestro, Fertiglobe and MB Energy signed a memorandum of understanding during the German state visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan. The parties will examine the import, storage, throughput and distribution of ammonia, and possible offtake, through an import terminal that MB Energy proposes to build and operate at Blumensand in Hamburg. Fertiglobe, a large seaborne exporter of urea and ammonia, would also explore an equity investment in the terminal, while Covestro takes part as an industrial consumer of ammonia in Germany. The scope covers conventional, lower-carbon and renewable ammonia, with the stated aim of diversifying supply into Germany and Europe.
Circularity, climate targets and operations
Much of Covestro's technology messaging centres on closing material loops. Under the Evocycle CQ label it has worked on chemical recycling of flexible polyurethane mattress foam, including the EU-funded PUReSmart project with Recticel, and on a process that returns polycarbonate to its monomers at pilot scale. In 2024 it became a shareholder in the chemical recycling company BioBTX. The company reports that all of its major sites hold ISCC PLUS certification, including Baytown in the United States, its third-largest site, and it has set a target of net-zero greenhouse gas emissions across scopes 1, 2 and 3 by 2050. Its stated strategy runs under the heading Sustainable Future, with the chapters Optimize, Grow and Transform. In September 2026 it opened a pilot plant in Leverkusen for circular elastomers and its Sonnenwagen student team completed the 2026 iLumen European Solar Challenge.
Financial position reported in 2026
On 9 July 2026 Covestro published preliminary figures for the first half of 2026 showing sales of EUR 6,729 million and EBITDA of EUR 669 million, and raised its EBITDA forecast for the full 2026 financial year. The company also maintains a SpeakUp reporting line and a product safety programme as part of its compliance and stewardship work. Group communications are handled from Leverkusen, with regional communications heads for the Americas, Asia-Pacific, Europe and ASEAN, and investor relations contacts listed on the investor pages.