Acknowledging the importance of the APAC region in Covestro's future growth story, Lutz reiterated that Covestro strongly believes in the APAC region; especially India which has been witnessing a double-digit growth. "India comprises roughly 20% of our APAC revenues and it will be a formidable part of the Covestro growth strategy in the region."

"India is a growing market and holds lot of promise. The three key industry verticals driving the growth for polymers and polycarbonates in India are automotive followed by IT and electronics and home furnishing. Automotive industry contributes approximately 25% of our revenues in the country.This one year of being an independent entity has helped Covestro evolve as a global manufacturer," Ajay Durrani, Managing Director. Covestro India added.

Lutz also highlighted that Covestro is increasingly anchoring sustainability at every level, and is part of the company's core values. The objective is conserving the environment, advance society and at the same time create economic value.

The company has, therefore, established a series of challenging and measurable targets it wants to achieve by 2025. For example, Covestro plans to halve greenhouse gas emissions per metric ton of product produced relative to 2005.

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