LyondellBasell named Company of the Year in medical plastics

NETHERLANDS – Rotterdam-based chemical company, LyondellBasell has been named the 2023 Global Company of the Year in the medical plastics segment by Frost & Sullivan.

In a statement, Frost & Sullivan noted that LyondellBasell has nearly 100 production facilities strategically located across the Americas, Europe, and Asia-Pacific.

It caters to diverse customer segments, and mainly operates in the medical plastics industry through its Purell product line, encompassing more than 30 grades of polyolefins (polypropylene and polyethylene).

It also emphasizes continuous product development and rollout, extending the Purell brand’s penetration for wider medical applications, noted Frost & Sullivan.

“LyondellBasell’s strategic focus on product development considering industrial megatrends offers it a first-mover advantage,” said Saurabh Ajay Todi, senior research analyst for Frost & Sullivan’s chemicals, materials, and nutrition business unit

“This, together with its vast scale of operations, positions it as a frontrunner in the medical plastics industry.”

Frost & Sullivan also noted LyondellBasell’s range of recycled and renewables-based products under the Circulen portfolio.

The Circulen brand includes Circulen Revive polymers, produced using a molecular/advanced recycling process, and CirculenRenew polymers, produced using renewable, bio-based feedstock such as used cooking oil.

Its polybutene-1 (PB-1) provides an alternative to PVC and reflects the company’s ability to identify future trends and gain a head start when demand increases, according to Frost & Sullivan.

Todi added: “LyondellBasell’s shifting focus from traditional business concepts to circular models, rebranding its offerings, and aligning them with global megatrends position it as one of the leaders in supplying sustainable plastics for medical applications.

“It works closely with healthcare OEMs, understanding their needs and challenges, and providing custom solutions to assist them.”

Meanwhile, in May, the Dutch company agreed to buy the remaining stake in Quality Circular Polymers (QCP), its plastic recycling joint venture (JV) with Veolia Belgium.

The acquisition is in line with LyondellBasell’s strategy to create a profitable circular and low-carbon solutions business, to meet the rising demand for sustainable products and solutions.

QCP operates recycling facilities in Belgium and the Netherlands, which produce special blends from household plastic waste.

Recycled materials from these facilities are used for manufacturing bottles, caps, closures and other items.

For Veolia, the divestment is in line with its strategy to strengthen its presence in Europe and globally.

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