2020 Integrated Report

In step with global business trends

Aquivion® (pictured)

Our Aquivion® innovation is a key material for hydrogen production. It is crucial for electrical storage and conversion devices such as fuel cells, electrolyzers and flow batteries used in conjunction with zero-emission electricity sources.

Our world is growing and this brings a threat to our planet: we are consuming its resources at an unsustainable rate. Chemistry is a core component of products and solutions used every day. It’s also the key to recycling what we use, saving natural resources, fighting climate change, and improving people’s quality of life. Our wide and diversified portfolio of products offers innovations that help meet these global challenges, in step with the powerful business trends driving growth in our end-markets. Our world needs solutions that will secure our children’s access to natural resources. Solvay is, and will remain, part of those solutions.

Our business environment

After an already sluggish 2019, 2020 proved to be one of the most challenging years on record for the global economy. The pandemic has had differentiated impacts across the economy and the rebound for each market is not expected to occur at the same time. Despite the downturn, we have also seen an acceleration in some key growth drivers and trends, for which our portfolio of products can provide solutions. These include:

  • A confirmation of an existing trend of consumer interest in eco-friendly based solutions chemicals.
  • An opportunity to put the emphasis on a green recovery with the European recovery plan and its strong focus on zero-emission mobility, and Chinese legislation to stimulate electric vehicles and cleaner mobility.
  • An acceleration of the digital transformation, adjustments in work patterns, and an increased role for Robotic Process Automation (RPA) and Artificial Intelligence (AI) in numerous sectors, including the chemical industry.