Covestro’s synthetic polyether polyol business will exit the home appliance market in China, India and Southeast Asia
● Part of Product Portfolio Adjustment and Optimization of the Customized Polyurethanes Division
● Home appliances remain a key customer industry for Covestro for which the company will continue to provide high qualityMDI
Covestro announced a realignment of the product portfolio of its Asia Pacific (ex-Japan) Customized Polyurethanes business unit for the home appliance industry in response to changing customer needs in the region.
Polyurethane is an important thermal insulation material used in refrigerators and refrigeration equipment. Covestro is currently supplying customers in the household appliance industry with two-component polyurethane – a compound solution that combines synthetic polyether polyols and isocyanates (MDI).
Recent market analysis shows that most home appliance customers in Asia Pacific now prefer to buy polyether polyol and MDI separately. Based on the changing needs of the home appliance industry, the company has decided to exit the Asia Pacific (excluding Japan) business for the polyether polyol segment of the industry by the end of 2022. The company’s product adjustments to the home appliance industry in the Asia-Pacific region will not affect its business in Europe and North America.
Appliances remain a key customer industry for Covestro in Asia Pacific. After the portfolio has been optimized, Covestro will continue to sell MDI materials to the home appliance industry in China, India and Southeast Asia as a reliable supplier.
Globally, Covestro continues to develop polyurethane compound solutions and expand the polyurethane customer base. For the Asia-Pacific region, Covestro will continue to focus on customer needs in polyurethane composite applications such as automotive, wind turbine blades, pultrusion processes and refrigerated containers, and provide them with customized solutions and polyurethane composite products.