Evonik bets big on China with biotech skincare innovations and cost cuts
Evonik has unveiled a series of major moves in its Beauty & Personal Care division, with a strong focus on the Chinese market. At the PCHi trade fair in Hangzhou, the company showcased new biotech-driven skincare innovations tailored for local consumers. Meanwhile, a sweeping efficiency program aims to cut costs by €400 million annually, including up to 2,000 job reductions by 2026.
The German specialty chemicals group highlighted several new products at the event. Among them was symbio®muls Aquasoft MB, an emulsifier made from rice bran and optimised for Chinese skin types. This innovation earned a nomination for the PCHi Fountain Award. Another standout was SPHINOX® Vively, a ceramide-based solution designed to strengthen the skin barrier. The company also introduced X50 NeoSyno-Col®, dubbed the 'Cosmetic Drone', which combines two peptides to enhance fibroblast activity and improve skin elasticity.
Evonik's commitment to China was further underlined by the announcement of a new **Asia Beauty Science & Innovation Center** in Shanghai, set to open by 2026. The facility will accelerate the development of locally adapted products, reinforcing the country's role as a strategic priority. The company has rapidly expanded its portfolio for the region, reflecting growing demand for sustainable and high-performance personal care solutions. The expansion comes alongside a broader cost-cutting initiative. Evonik's **'Tailor Made'** transformation program targets annual savings of around €400 million, with roughly 80% of reductions coming from personnel cuts. Up to 2,000 jobs could be affected as part of the restructuring. Despite this, the company forecasts an adjusted EBITDA of between €1.7 billion and €2.0 billion by 2026.
Evonik's latest innovations and investments signal a push to strengthen its position in China's beauty market. The new Shanghai centre and award-nominated products demonstrate a focus on localised research and development. At the same time, the efficiency drive aims to secure long-term financial stability, with significant savings expected from workforce reductions and operational adjustments.
