Social Change Requires Innovative Materials
World Population Day Highlights Societal Challenges
- Humanity is becoming older, wealthier, and more interconnected
- High-tech plastics support smart solutions for megatrends
The growing societal changes increasingly demand intelligent solutions based on innovative materials. On the occasion of World Population Day, Covestro emphasizes the key role of high-performance plastics in responding to socio-demographic megatrends – particularly the aging of society, the rise of the middle classes, and the rapid spread of connectivity.
While global population growth is slowing slightly, the number of people over 65 is expected to double by 2050. Older people want to remain mobile, independent, and socially integrated. At the same time, already overburdened healthcare systems must become more efficient and accessible. High-performance plastics enable medical innovations and intelligent environments that help seniors maintain independence and participate actively in society. Materials developed by Covestro support for example self-tracking with wearables and smartwatches, as well as telemedicine and remote monitoring.
Solutions for an Aging Global Population and Growing Middle Classes
Alongside the increasing number of seniors, the global middle class is also growing steadily. Despite regional differences, this population segment is expanding fastest – especially in Asia – and is expected to grow by more than one billion people this decade. With rising prosperity, the demand for high-quality products as well as expectations around comfort and sustainability are also increasing. Plastics featuring Covestro materials enable durable, smart, and resource-efficient goods that improve quality of life while reducing environmental impact.
A common factor across much of humanity is increasing connectivity. Over the next decade, we’re likely to live in a hyperconnected world enabling up to one million 5G-enabled digital devices per square kilometer. However, the digital revolution also brings growing levels of electronic waste and sharply rising electricity demand, particularly from data centers. Powerful, highly energy-efficient, and environmentally friendly devices and networks are therefore essential. Robust, recyclable plastics with versatile functions are indispensable in this regard.
Covestro is closely observing global trends such as socio-demographic change, urbanization, and developments in mobility, nutrition, and healthcare. The company provides forward-thinking plastics and their precursors, acting as a driver of progress across key industries.
About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.