China PU (Polyurethane) 2024


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Market Overview

In 2022, China’s consumption of polyurethane products (including solvents) was 12 million tons, slightly lower than the previous year. After experiencing a slump in 2022, the production volume of polyurethane raw materials and the consumption of polyurethane products in China showed an improved growth rate in 2023.

Polyurethane foam plastics can be divided into soft foam and rigid foam. Soft foam is mainly used in furniture, automotive, and clothing industries, while rigid foam finds applications in refrigerators, freezers, cold storage, pipe insulation, panels, and building insulation. According to Tanalyze analysis, the consumption of polyurethane foam plastics in China was approximately 4.45 million tons in 2022.

Polyurethane coatings offer simple curing and excellent performance, and they are primarily used in wood coatings, automotive repair paints, and waterproof coatings. Polyurethane wood coatings dominate the market for wood coatings, while polyurethane automotive repair paints account for approximately 40% of the market share. Polyurethane waterproof coatings have shown significant growth in recent years and have ample room for future expansion. Polyurethane elastomers, including thermoplastic elastomers (TPU), castable elastomers (CPU), and blend-type elastomers (MPU), exhibit excellent comprehensive properties. TPU has experienced the most rapid demand growth in recent years, becoming a substitute for materials such as PVC and EVA in various fields. The consumption of various elastomers in 2022 was approximately 1.57 million tons. Polyurethane adhesives/sealants demonstrate superior performance and are widely used in footwear, packaging, construction, automotive, and other industries. They have been one of the fastest-growing polyurethane products in recent years, with a consumption of approximately 1.13 million tons in 2022, representing an increase of about 6% compared to the previous year.

Table of Contents

Preface 3
Part 1. Consumption of Polyurethane Products in China 4
Part 2. Production and Consumption of Polyurethane Raw Materials in China 7
TDI (Toluene Diisocyanate) 7
MDI (Methylene Diphenyl Diisocyanate) 11
HDI (Hexamethylene Diisocyanate) 18
PO (Propylene Oxide) and Polyether Polyols 21
Polyester Polyols (Hexanedioic Acid) 24
IPDI (Isophorone Diisocyanate) 25
Part 3. Technological Competence in China’s Polyurethane Industry 28
Part 4. Prospects for the Development of China’s Polyurethane Industry 29
Disclaimer 31
China Polyurethane Consumption (Including Solvents), 2018-2022 (Million Tons)
China Polyurethane Consumption (Including Solvents), by Application, 2018-2022 (Million Tons)
China Polyurethane Consumption (Including Solvents) Share (%), by Application, 2018/2022
China TDI Capacity, Production, and Consumption, 2018-2022 (Million Tons)
China TDI Price (RMB/ton), 2017-2023
Global TDI Demand, 2018-2022 (Million Tons)
Global TDI Capacity Location, 2023 (Million Tons)
China MDI Capacity, Production, and Consumption, 2018-2022 (Million Tons)
China MDI (Polymeric and Pure) Consumption Share (%), by Application, 2022
China MDI Price (RMB/ton), 2017-2023
Global MDI Demand, 2018-2022 (Million Tons)
Global MDI Capacity Share (%), by Region, 2023
Global MDI Capacity Location, 2023 (Million Tons)
Global and China MDI Capacity Expansion Plans (Million Tons)
China HDI Price (RMB/ton), 2020-2023
Global HDI Capacity and Planned Capacity Distribution, 2022 (Thousand Tons)
China Polyether Polyols Capacity, Production, and Consumption, 2018-2022 (Million Tons)
China IPDI Consumption (Thousand Tons), 2019-2023
China IPDI Consumption Share, by Application, 2023
Global China IPDI Market Share, by Competitor, 2023

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