Circular Economy
Circularity is a particular focus in the continued development of our product portfolio. This enables us to help our customers achieve their sustainability goals while improving the resource and carbon footprint of our products.
By 2030, we aim to generate sales of €17 billion with solutions for the circular economy. These include products based on renewable or recycled raw materials that close material cycles (“close the loop”) or increase the resource efficiency or life of materials (“extend the loop”).
In addition, we want to increasingly use alternative raw materials in the manufacturing of our products. These include bio-based raw materials such as bionaphtha and biogas, and renewable raw materials such as RSPO-certified palm oil, which we have been using for many years as a substitute for fossil resources. To expand our supply base for alternative raw materials and at the same time, contribute to the circular economy, we are also developing new, waste-based sources of raw materials. To achieve this, we develop innovative technologies, usually in cooperation with partners, for example for the chemical recycling of plastic waste or disposed mattresses made of polyurethane. We aim to process 250,000 metric tons of recycled and waste-based raw materials in our production plants annually from 2025.
One of the steps we have taken to achieve our goals is establishing a company-wide Circular Economy Program. As part of this program, BASF teams are currently developing new approaches to the three main action areas in more than 35 initiatives: alternative raw material pathways, innovative material cycles and new business models for the circular economy – which also include digital and service-based concepts.