MARKET DYNAMICS
The global TDI (Toluene Diisocyanate) market witnessed significant changes in 2023. Leading stalwart production entities such as BASF opted to shutter their 300,000-ton/year production facility in Ludwigshafen Harbor. Simultaneously, Japan's Tosoh Corporation closed its production unit as scheduled, and Mitsui Chemicals resolved to reduce its existing 120,000-ton TDI capacity to 50,000 tons by 2025. Traditional TDI industry leaders initiated strategic contractions.
Concurrently, Wanhua Chemical's newly constructed 250,000-ton TDI facility in Fujian had just commenced production when the announcement of a second-phase 330,000-ton unit under construction was made, scheduled for production by 2025. Additionally, expansions were planned by Cangzhou Dahua, BASF (Shanghai), Covestro (Shanghai), and Gansu Yinguang. Notably, agrochemical company Guangxin Group unveiled an astonishing plan for a 600,000-ton/year TDI project. It is foreseeable that the future TDI production capacity in the Asia-Pacific region, particularly in China, will continue to rise, amplifying the influence of the Asia-Pacific TDI market on a global scale.
Our observations indicate a growing interest from European, Middle Eastern, and American clients in monitoring price intelligence within the Asia-Pacific market, underscoring the increasing global relevance of the TDI market dynamics in the Asia-Pacific region. PUdaily's 2023 Asia-Pacific TDI Market Research Report is a comprehensive analysis centered on the Asia-Pacific market. It delves deep into aspects such as the supply and demand landscape, market price trends, costs and profits, potential growth, industry opportunities and potential threats, as well as the investment environment. This report is designed to aid our clients in strategically navigating the constantly evolving sub-markets in the years to come, empowering stakeholders to make informed decisions that facilitate growth and development.
2023 vs 2022, WHAT'S NEW?
Sustainable Development: New contents on TDI zero carbon/mass balance TDI, bio-based TDI, polyurethane flexible foam recycling, and analysis of the impact of carbon tariffs on TDI are added.
Downstream Application: Unveiling a comprehensive analysis of upholstered furniture industry, including market shares of mainstream products, corresponding TDI consumption, and industry development trends. Developments in applications such as thermal conductive adhesives for power batteries and polyurethane composite materials will be presented.
Export Trade: Detailed analysis of the export situation of main downstream applications, such as foam mattress, and the expanded impact of US anti-dumping measures on mattress on the development of the TDI and mattress industry in China.
MARKET OVERVIEW: SUPPLY & DEMAND
In 2023, China is poised to produce approximately 1.15 million tons of TDI (Toluene Diisocyanate), reflecting a notable year-on-year growth of around 8%.
Examining the supply dynamics, the Chinese TDI market witnessed substantial shifts in 2023. In February, Wanhua Chemical announced the permanent cessation of its 100,000-ton legacy production unit in Fujian. By the end of May, Wanhua Chemical Fujian's newly commissioned 250,000-ton facility seamlessly commenced operations. Furthermore, after an extensive year-and-a-half-long maintenance period, the 120,000-ton unit at Yinguang in Gansu successfully recommenced production in June. The operationalization of these pivotal units significantly mitigated the previously observed TDI supply constraints.
On the demand front, despite challenges faced by major domestic TDI downstream industries, including the real estate downturn, macroeconomic deceleration, and industrial activity slowdown, overall growth has remained robust and consistent. Within the upholstered furniture sector, while the overall demand experienced limited incremental growth amid real estate challenges, industry leaders and premium-quality upholstered furniture products exhibited substantial growth. This was propelled by both competitive dynamics and the prevailing trend of "big home," contributing to a steady uptick in TDI consumption. Concurrently, in the automotive industry, sustained high growth in production and the development of new energy vehicles have elevated the average TDI consumption within the sector.
In summation, the anticipated apparent consumption of TDI in China for the entirety of 2023 is estimated to hover around 800,000 tons, signaling a 7% increase compared to the preceding year of 2022.
Taking a global view...
Sample: Different Regions’ Shares of Global TDI Capacity in 2023 (kT, %)
DOWNSTREAM MARKETS SEMENTATION
Breaking down the TDI market into specific downstream applications, our report examines these subcategories from a geographical standpoint in detail. This allows strategists to acquire nuanced insights, empowering them to craft tailored strategies aimed at specific markets. The granularity of information encourages a targeted methodology, ultimately facilitating the discernment of more favorable opportunities.
Sample: China Automobile Output & Year-on-Year Changes in 2023 (1,000 units, %)
Major TDI downstream sectors include:
MAJOR COMPETITORS IN GLOBAL TDI MARKET
We provide a holistic analysis of major competitors in the Global TDI market, with an emphasis on the Asia-Pacific market, which involves 1) delving into the TDI industry chain dynamics, 2) understanding the intricacies of marketing strategies, and 3) staying abreast of relevant company news. This multifaceted approach enables a comprehensive understanding of the competitive landscape and aids in strategic decision-making.
Sample: BASF’s TDI Capacity Layout in 2023 (kT, %)
The key players we focus on are:
IN-DEPTH ANALYSIS BY REGION
Our report incorporates a geographical segmentation, placing emphasis on critical factors such as outputs review, demand review and outlook, consumption, market price forecast, imports and exports for TDI in China, Southeast Asia, India, Japan and South Korea.
Armed with an abundance of rich and comprehensive data, our report transcends the conventional, providing you with not just information, but a strategic compass.
WHY PUDAILY’S REPORT?
Robust Research Methodology: PUdaily’s commitment to delivering insightful market intelligence is underpinned by a meticulous two-phase methodology: Phase I – Data Mining, and Phase II - Business Analysis. We have a network of industry experts to guarantee the authenticity and objectivity of the presented data.
Comprehensive Coverage: Our report leaves no stone unturned, providing a 360-degree view of the Asia-Pacific TDI market.
Strategic Decision Support: Empower your decision-making with data-backed insights, giving you a competitive edge.
DISCOVER MORE
PUdaily’s collection of reports comprehensively covers the entire spectrum of the Polyurethane industry in Asia-Pacific:
1. 2023 Asia-Pacific MDI Market Research Report
2. 2023 Asia-Pacific Polyether Polyols Market Research Report
3. 2023 Asia-Pacific Propylene Oxide Market Research Report
4. 2023 China ADI Market Research Report
5. 2023 China Adipic Acid-Polyester Polyols Market Research Report
6. 2023 China BDO-THF-PTMEG Market Research Report
7. 2023 China Modified MDI Market Research Report
8. 2023 China Polyurethane Elastomers Market Research Report
9. 2023 China Rigid Blended Polyols Market Research Report
CONTACT US
PUdaily’s Asia-Pacific TDI Market Research Report 2023 is nPUdaily's Latest Release: 2023 Asia-Pacific TDI Market Research Report Unveiledow available for purchase. For more details, place an order or to obtain free samples, please contact:
Ms. Lucy Tang
Telephone: 0086-021-61250980
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