London – Polyurethane production in the Asia Pacific (APAC) region could reach almost 16.6m tonne/year by 2023, according to the latest research from IAL Consultants.
The consultants said in the report Polyurethane Chemicals and Products in Asia Pacific (APAC) 2019, that the market in the region is structured differently to other parts of the world.
It will grow at about 4.9%/year between 2018 and 2023.
Elastomers form the largest end use group of materials. This is because of the ‘huge amounts of PU raw materials consumed by the synthetic leather, fibre/spandex and footwear industries’, IAL explained.
Elastomers accounted for 36%, or almost 4.9m tonne, consumption in 2018. Flexible foam is the next largest segment. A total of 2.8m tonne/year was consumed in 2018. The vast majority was conventional polyether slabstock.
Almost 2.6m tonne PU was consumed in rigid foam in 2018. Domestic refrigeration takes about half of this, and the rest goes into building insulation. There is growth in continuous rigid panel production and consumption in the region, said IAL.