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Michelin ResiCare and Axens May Partner to Industrialize Bio-based 5-HMF

Michelin ResiCare and Axens have entered into exclusive discussions to industrialize the production of 5-HMF, a bio-based molecule developed with IFP Energies Nouvelles. A first production unit with an annual capacity of 3,000 tons is set to start in early 2027 at Péage-de-Roussillon.


Michelin ResiCare and Axens May Partner to Industrialize Bio-based 5-HMF

A Key Molecule to Replace Fossil Products

5-Hydroxymethylfurfural (5-HMF) is a bio-based molecule aimed at gradually replacing certain petroleum-based components in resins, polymers, and adhesives. Resulting from a research and development program jointly conducted by Michelin ResiCare and IFP Energies Nouvelles since 2021, supported by ADEME in France and CBE JU in Europe, this technology offers several industrial applications. 5-HMF is particularly used to produce polyethylene furanoate (PEF), a bio-based plastic seen as one of the most credible substitutes for PET in the markets for food packaging, bottles, and textile fibers. Due to its compatibility with existing industrial processes, it replaces certain fossil compounds like formaldehyde with renewable alternatives derived from plant resources. Michelin has been exploring alternatives to formaldehyde since 2008. 5-HMF was incorporated into Michelin ResiCare's formulas in 2016, initially for plywood, and has since been generalized in all new formulations of the group, including composites, abrasives, and molded compounds.

Production Capacities and Global Deployment

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Axens will contribute its expertise in licensing and engineering to deploy the technology globally. The first production unit, located in Péage-de-Roussillon, France, will have a capacity of about 3,000 tons per year and will be operated by Michelin ResiCare. Its commissioning is scheduled for the beginning of 2027. The partnership aims to accelerate the industrialization and large-scale dissemination of a bio-based solution that meets the growing demand for the decarbonization of the chemical and materials industries. The molecule has significant potential for a wide range of solvents, intermediates, and products intended for fine and specialty chemicals.

Two Complementary Players in Sustainable Chemistry

Michelin ResiCare relies on the extensive expertise of the Michelin Group in the field of polymers and materials science. Axens, a company of the IFP Energies Nouvelles group, offers a comprehensive range of solutions for converting oil and biomass into cleaner fuels, producing petrochemical intermediates, chemical recycling, and carbon capture solutions. This collaboration combines Michelin's innovation with Axens' expertise in licensing and industrial deployment.



Sector Industrie · Automobile Pneumatiques


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Context

Period
  • Period: 2025
Key reported figures
  • Revenue: 25 992 millions d'euros
  • Revenue growth: -4,4 %
  • EBITDA: 4 663 millions d'euros
  • EBITDA margin: 17,9 %
  • Net income: 1 664 millions d'euros
  • Free cash flow: 2 181 millions d'euros
  • Dividend per share: 1,38 €
  • Payout ratio: 49,0 %
Outlook / guidance
  • Management commentary: Guidance 2026: Le chiffre d'affaires 2026 n'est pas publié; Free Cash Flow before M&A attendu supérieur à 1,6 milliard d'euros.

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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