Borealis has merged with Borouge to create Borouge Group International, aiming to become the world's fourth-largest polyolefins company while enhancing sustainability and operational efficiency.

Target Information

Borealis, a leader in the petrochemical industry, has made significant strides in advancing its innovative capabilities and operational safety. With the recent appointment of Stefan Doboczky as CEO in July 2024, the company is focused on leveraging employee dedication and innovative power to enhance growth in its core business areas while exploring new market opportunities worldwide. Borealis has consistently maintained a strong position in the European Patent Index, reflecting its commitment to providing cutting-edge products that align with customer sustainability goals. The company achieved a notable reduction in its Total Recordable Injuries (TRI) rate to 3.8 in 2024, indicating its focus on safety and operational excellence.

Industry Overview

The European petrochemical sector is navigating a challenging landscape characterized by market uncertainty and increased competition, particularly from low-cost producers in Asia. The demand for polyolefins experienced a modest rise in the first half of 2024, yet the market continues to deal with an oversupply of cheap plastics, primarily from China. In this environment, Borealis reported an 11% increase in sales volumes, driven by strong demand for high-voltage applications, which offsets the soft demand faced in sectors like healthcare and consumer products.

The European Union's Green Deal has faced criticism for its limited scope, prompting the introduction of the Clean Industrial Deal aimed at fostering a more business-friendly framework. This n