UTECH Asia/ PU China 2024 is taking place at the Shanghai World Expo Exhibition & Convention Center, Shanghai, China on 17-19 July 2024.
As key raw materials for polyurethane manufacture, isocyanates and polyols are driving the development of the global polyurethane industry at an unprecedented pace. Cecilia Cai, an analyst at PUdaily, delivered a keynote speech entitled Current Status and Forecasts of the Global Isocyanates and Polyether Polyols Market at this exhibition to delve into the latest developments and future trends in this field.
Based on PUdaily’s latest market research data, this presentation provided an analysis of the current status and forecasts of the global isocyanates and polyols markets from various perspectives including market size, outputs and sales, downstream industries, and future trends.
Speech Outline
In this speech, Cecilia Cai, senior analyst at PUdaily, reviewed and forecasted the global supply and demand of the main raw materials for polyurethane. From 2019 to 2023, global capacities of polyether polyols, TDI, and MDI all exceeded their consumption. The polyether polyols sector saw the fastest growth in capacity and consumption, followed by MDI and TDI.
Subsequently, She gave a deep analysis on the price trends and downstream industries of the raw materials for polyurethane in major regions globally, including Europe, U.S., Southeast Asia, India, and China. Through a thorough research on the market dynamics in different regions, especially major markets like Asia-Pacific, Europe, and North America, she helped attendees gain deeper insights into the growth rates, consumption, and competitive landscape of the polyurethane industry in different regions.
Europe: The output of mattresses in Europe decreased, leading to an increasing reliance on imported mattresses. The upholstered furniture remained a major downstream industry of polyurethanes in Europe.
North America: 2023 was a challenging year for the US chemical industry. The U.S. mattress market shrank. Composite mattresses have been gradually replacing spring mattresses.
Asia-Pacific: Southeast Asia’s reliance on imported polyether polyols is increasing, and the region saw a slight increase in polyether polyols consumption in 2023. India’s polyether polyols market faced severe supply-demand imbalance and high dependence on imports. In China, the main downstream industries of polyether polyols were upholstered furniture, automobile, and home appliance, with the automobile industry experiencing significant growths in output, sales and exports in 2023.
This presentation made by PUdaily not only elaborated on the global isocyanates and polyols markets but also bridged the communication gap for polyurethane suppliers interested in understanding overseas markets and dedicated to developing export business.
We look forward to more communication and collaboration with you, jointly exploring the infinite possibilities of the polyurethane industry and creating a brighter future!