Covestro said it will build its largest thermoplastic polyurethanes (TPU) site in the Zhuhai Gaolan Port Economic Development Zone in Guangdong Province, China, to meet the anticipated growth of the TPU market globally. The project, with an overall investment in the low three-digit million Euro range, will be built in three phases and will be the company’s largest investment in its TPU business. The first phase will involve a production capacity of about 30 kta of TPU, with mechanical completion expected at the end of 2025. After the final phase of completion, the company expects to achieve a production capacity of nearly 120 kta of TPU by 2033. The site will use the most advanced production technologies and run on 100% green power. Additionally, the project will include a new innovation center to enable researchers’ onsite to design customized material formulas and to do formula adjustments to meet customer demands within very short cycles.