Polymer Composite Solutions Turning challenges into success 01 Nicolas Seeboth, Director of Research and Development, Polymer Composite Solutions Division Polymer Composite Solutions What were the highlights of 2024 in the Polymer Composite Solutions business? In 2024, we faced a complicated environment in our highly demanding markets, which serve a variety of verticals. Economic conditions were difficult and there was extensive destocking across the value chain after the major build-ups, in both B2B and B2C, over the two post-Covid years. During the year, our Conveyor Division in Europe and North America thoroughly overhauled the X-Series line, whose new composite features a distinctive fabric innovation that makes the belts more impact-resistant and longer lasting, even though they’re lighter than the previous generation. Our solutions meet the diverse needs of our B2B customers in the mining, quarrying, cement, wood products and manufacturing industries. Clarifying our product portfolio, based on both materials innovation and a robust marketing drive, is the cornerstone of our premium conveyor strategy. We’re also continuing to innovate in materials, in particular to improve the energy efficiency of our products. This is a critical performance factor for our mining customers operating long-distance conveyors. Our third generation of ultra-low energy consumption blends, that use up to 50% less power, has now been integrated into our PowerSaver ranges in Australia. We’re also continuing to strengthen our business through targeted acquisitions, aimed at consolidating our value proposition and extending our geographical reach. What are your objectives for 2025? 2025 will mark an important milestone for our araminolic adhesive resins business, which operates under the MICHELIN ResiCare brand. Its resins deliver both outstanding performance and a design based on the highest standards of sustainable chemistry, using plant-sourced components without any substances of concern. After more than 15 years of research and the filing of 40 patents, we’re now reviewing the construction of our first plant in Europe, with our initial customers expecting industrial production to get underway in 2027. In sealing solutions, we’re going to continue expanding our range of fluoropolymer-free seals after the first market launches in 2024. To support this transition to PFAS(1)-free seals, we’ve undertaken an ambitious research program leveraging both our own innovation capabilities and a vast ecosystem of academic and industrial partners. (1) Per and Polyfluoroalkyl Substances (PFAS) are extremely persistent chemicals that can have an adverse impact on human health. Targeted acquisitions and organic growth supported by a powerful innovation drive Polymer Composite Solutions 40 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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