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.
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.
SectorAutomobile et mobilité›Équipementiers automobiles
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 19 175 millions d'euros
Quarterly revenue: 19 175 millions d'euros
Revenue growth: -0,5 %
Guidance from the release
Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
Risks mentioned
Faiblesse persistante de la Première monte, qui fait reculer les volumes pneumatiques du Groupe de 0,8 % à fin septembre, en particulier en Tourisme Camionnette en Europe et en Amérique du Nord (en Chine, les ventes du Groupe progressent sur un marché en recul de 7 %)
Concurrence des pneumatiques importés à bas prix, notamment d'Asie, qui pèse sur les marques Tier 2 en Amérique du Nord, Tier 3 dans les principales régions et sur le Poids lourd en Amérique du Sud
Faiblesse persistante des Convoyeurs, liée à la prudence des clients miniers en matière de dépenses et à la faiblesse du marché du minerai de fer, notamment en Australie
Opportunities identified
Expansion de Polymer Composite Solutions soutenue par les acquisitions de Cooley Group, Flexitallic et TexTech en 2026 (chiffre d'affaires +21,9 % publié, -2,7 % hors effet de périmètre à cause des Convoyeurs)
Activité Mines en croissance, avec des gains de parts de marché, qui compense la pression sur le Hors-la-route (segment Spécialités -0,9 % publié, +0,4 % à périmètre comparable)
Dynamique positive de la marque MICHELIN en Remplacement avec volume de +4% en fin septembre
Outlook / guidance
Management commentary: Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
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