Polyamides are essential to countless products with a positive impact on our lives. And they enable important sustainable developments like circularity, low carbon solutions and lightweighting.
We are working hard to support our customers in their journey by enhancing our offering of sustainable solutions. This includes a 20% increase in sustainable applications and a 20% reduction in the carbon footprint of our products by 2030, to better assist our customers in transitioning from metal designs to plastics for lightweighting.
The demand for circular solutions is expected to grow exponentially in the coming decade. Drawing on our many years of experience in the production and processing of sustainable polyamides, we have developed a technology in which secondary feedstock from production sources is recycled into high-quality PA compounds in a one-step process. The result is our well-known brand of recycled polyamide, TECHNYL® 4EARTH®.
TECHNYL® 4EARTH® is part of our strategy for supporting circularity and providing an efficient solution for strengthening post-industrial recycling. The production of our resins requires nearly 50% less water, emits 80% less CO2, and consumes 60% less non-renewable energy compared to prime-grade polyamide. Life cycle assessment (LCA) studies have successfully demonstrated the reduced environmental impact of our upstream and downstream products.
In addition to our solutions addressing circularity and lightweight, we are increasing our focus on strengthening mechanical and chemical recycling of post-consumer feedstock. Through process improvements and the development of new technologies and new grades, we are investing in dissolving technologies for the recycling of monomer production waste, for example.
Our determination to use collaboration and cutting-edge technology to promote change led to a shared initiative with Covestro, a major supplier of high-tech polymers, and Circularise, an innovative transparency start-up. The initiative aims at using blockchain technology to establish better traceability for plastics across the value chain, allowing all actors to choose sustainable options more confidently.
We believe this innovative technology will greatly contribute to fostering responsibility and trust within the industry while minimizing concerns about confidentiality. With Circularise, our customers can show the origin and impact of their products, avoid greenwashing and build customer trust, and prove product sustainability with absolute certainty.
DOMO is pursuing a strategy of sustainable value growth and strives to be, by 2030, a benchmark in sustainable development and social responsibility, and be recognized among the best in the industry.