LyondellBasell Awarded the 2023 Global Medical Plastics Company of the Year by Frost & Sullivan

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LyondellBasell (LYB) recognized as 2023 Global Company of the Year in Medical Plastics Industry by Frost & Sullivan for its leading position, extensive product line, and focus on sustainable solutions. The company's Purell product line offers over 30 grades of polyolefins for medical applications, with a strong emphasis on continuous product development and global distribution strategy.

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• LyondellBasell recognized as a leader in the medical plastics industry by Frost & Sullivan, indicating strong potential for growth and innovation in the sector.
• The company's strategic focus on product development and sustainable solutions positions it as a frontrunner in the industry, offering a first-mover advantage and strong market penetration.

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• None.

LyondellBasell is among the top three global polyolefin manufacturers in terms of capacity and sustainable solutions, catering to multiple industries, including pharmaceuticals and medical devices.

SAN ANTONIO, Aug. 10, 2023 /PRNewswire/ -- Frost & Sullivan recently researched the medical plastics industry and based on its analysis, recognizes LyondellBasell with the 2023 Global Company of the Year Award. The company is a leading chemical and polymer manufacturer operating throughout the petrochemical value chain. With nearly 100 production facilities strategically located across the Americas, Europe, and Asia-Pacific, LyondellBasell caters to diverse customer segments. It 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.

Its all-encompassing distribution strategy augments product visibility across geographies for various medical applications. Additionally, its dedicated Purell Healthcare Service Concept for medical clientele addresses all the critical regulatory and quality requirements in the healthcare sector. This ensures a seamless customer experience throughout the procurement process. Among several features, the Purell Healthcare Service Concept provides a series of benefits:

• Consistent formulations
• Customer-specific supply solutions
• Minimum 2-year notification of change
• EU/US pharmacopeia compliances
• Drug Master File (DMF) listings

In Asia, the LyondellBasell store on a well-established Chinese eCommerce platform retails 15 products under its polyolefin business unit, including the Purell line of products, enabling it to leverage the increasing popularity of eCommerce platforms in the industrial supply chains. Saurabh Ajay Todi, senior research analyst for Frost & Sullivan's chemicals, materials, and nutrition business unit, noted, "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."

The LyondellBasell range of recycled and renewable-based products under the Circulenportfolio allow consumers to enhance the sustainability of downstream products. The Circulen brand includes among others CirculenRevive 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 plasticized polyvinyl chloride (PVC) and reflects the company's ability to identify future trends and gain a head start when demand increases.

"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," added Saurabh. For its strong overall performance, LyondellBasell earns Frost & Sullivan's 2023 Global Company of the Year Award in the medical plastics industry.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:
Tarini Singh
P: +91-9953764546
E: tarini.singh@frost.com

About LyondellBasell
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

 

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SOURCE Frost & Sullivan

FAQ

What is the significance of LyondellBasell's recognition as the 2023 Global Company of the Year in the medical plastics industry?

The recognition highlights the company's excellence in growth strategy, innovation, and leadership, positioning it as a frontrunner in the industry with strong potential for future success.

What products does LyondellBasell offer in the medical plastics industry?

The company offers over 30 grades of polyolefins through its Purell product line, with a focus on continuous product development and a global distribution strategy for various medical applications.

How does LyondellBasell contribute to sustainability in the medical plastics industry?

LyondellBasell's Circulenportfolio offers recycled and renewable-based products, providing sustainable solutions for downstream products. The company's focus on circular models and aligning offerings with global megatrends positions it as a leader in supplying sustainable plastics for medical applications.