LyondellBasell has been named the 2023 Global Company of the Year in the medical plastics segment by Frost & Sullivan. The Rotterdam-based company was selected for the award following research Frost & Sullivan conducted on the medical plastics industry, said the global business consultancy.
A leading chemical and polymer manufacturer operating throughout the petrochemical value chain, LyondellBasell has nearly 100 production facilities strategically located across the Americas, Europe, and Asia-Pacific, noted Frost & Sullivan in the announcement. It caters to diverse customer segments, and mainly operates in the medical plastics industry through its Purell product line, encompassing more than 30 grades of polyolefins (polypropylene and polyethylene). It also emphasizes continuous product development and rollout, extending the Purell brand's penetration for wider medical applications, said Frost & Sullivan.
LyondellBasell’s Purell Healthcare Service Concept provides a series of benefits, according to Frost & Sullivan:
- Consistent formulations
- Customer-specific supply solutions
- Minimum two-year change notification
- EU/US pharmacopeia compliance
- Drug Master File (DMF) listings
"LyondellBasell's strategic focus on product development considering industrial megatrends offers it a first-mover advantage. This, together with its vast scale of operations, positions it as a frontrunner in the medical plastics industry,” said Saurabh Ajay Todi, senior research analyst for Frost & Sullivan's chemicals, materials, and nutrition business unit.
Frost & Sullivan also noted LyondellBasell’s range of recycled and renewables-based products under the Circulen portfolio. The Circulen brand includes Circulen Revive polymers, produced using a molecular/advanced recycling process, and CirculenRenew polymers, produced using renewable, bio-based feedstock such as used cooking oil. Its polybutene-1 (PB-1) provides an alternative to PVC and reflects the company's ability to identify future trends and gain a head start when demand increases, according to Frost & Sullivan.
"LyondellBasell's shifting focus from traditional business concepts to circular models, rebranding its offerings, and aligning them with global megatrends position it as one of the leaders in supplying sustainable plastics for medical applications. It works closely with healthcare OEMs, understanding their needs and challenges, and providing custom solutions to assist them," said Todi.