Evonik restructures innovation activities to drive growth in changing market

Evonik Industries AG

10/06/2026 09:14

June 10 (Reuters) - German chemicals company Evonik Industries EVKn.DE said on Wednesday it was realigning its innovation activities, including a new dedicated unit, to sharpen its focus on market-driven development and faster execution.
The newly established Evonik Innovation Factory will be central to the effort and is expected to contribute up to €300 million ($347 million) to revenue growth in the company’s innovation-focused segments by 2032, it said.
The Innovation Factory will run five to seven programmes focused on three core growth areas: bio-based solutions, energy transition and circular economy
Evonik expects these areas to generate about €1.5 billion in additional revenue by 2032, including the €300 million from the Innovation Factory
“We have deliberately aligned our innovation organization for speed and impact,” Chief Innovation Officer Christian Eilbracht said
The overhaul is a response to shifting industry conditions, including volatile raw material markets, technological disruption and geopolitical risks
The restructuring will bring innovation closer to customers and markets while improving execution, Evonik said
($1 = 0.8656 euros)

(Reporting by Anastasiia Kozlova and Amir Orusov in Gdansk, editing by Milla Nissi-Prussak)
((Anastasiia.Kozlova@thomsonreuters.com; Amir.Orusov@thomsonreuters.com))