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China Market Insider China Aims to Conquer the Global MDI Market
China's largest MDI producer, Wanhua Chemical, continues to expand its market share. The company already dominates the global MDI market ahead of Covestro and BASF. It will continue to expand its capacities in the coming years, reports the Chinese chemical newspaper Zhongguo Huagong Xinxi Zhoukan. What does this mean for the global market?
Beijing/China – MDI (methylene diphenyl diisocyanate) is an important component of polyurethane foam used, among other things, to insulate refrigerators and freezers. Production is technically challenging, hence only about a dozen producers worldwide are active in this market.
Wanhua Chemical is already the world's largest MDI producer, with a global market share of 23.73 %, ahead of Covestro at 18.86 % and BASF at 18.08 %. The other major producers are Dow (13.22 %), Huntsman (10.96 %), SLIC (6.67 %), Tosoh (4.52 %) and Kumho Mitsui Chemicals (3.96 %). The Chinese Chemical Newspaper cites these figures from a report by the Qianzhan Industrial Research Institute in Beijing.