Covestro was founded in 2015, but the company's business activities date back to the early 20th century. Covestro was formerly Bayer Materials Technology Co., Ltd., and was born in the Bayer Group's Chemicals and Plastics business unit.

Covestro is a supplier of high-quality polymers. Covestro's materials and application solutions are found in every corner of modern life. Innovation and sustainability are the driving force behind the continuous development of our products, processes and facilities. To overcome the major challenges of this era, such as climate change, resource scarcity, urban expansion, population growth and therefore increased awareness of environmental problems, Covestro is actively committed to developing sustainable development solutions. This will lead to higher demands on renewable energy, alternative resources, energy-efficient transportation, and sustainable and affordable housing.

Covestro aims to meet this requirement with long-lasting, lightweight, environmentally friendly and cost-effective materials that, in many cases, are suitable for substituting traditional materials such as steel and glass. Covestro achieves all this by focusing on innovation and sustainability and adhering to the following goals: “to make the world a brighter place”.

Starting from July 2021, the group's operations will officially launch the adjusted structure. After the reorganization, the previous three major sectors (polyurethane, polycarbonate and coatings, adhesives, special materials) will become seven more targeted business units. These seven business units belong to two major departments: high-performance materials and special material solutions.

High Performance Materials: This division is an independent business entity responsible for Covestro's standard polycarbonate, standard polyurethane components and basic chemicals businesses, providing standard products at competitive market prices.

Special Materials Solutions: The division consists of six business entities: engineering plastics, coatings and adhesives, custom polyurethanes, thermoplastic polyurethanes, special films and elastomers. Covestro combines application technology services to produce complex products innovate.

This means that Covestro's products and services are no longer distinguished by chemicals, but by potential business characteristics and customer needs. In addition, Covestro has strengthened the "construction activities" between subordinate companies at the enterprise level, including sustainable development, innovation, digitalization and strategy, etc., to ensure the long-term development of the overall enterprise.