Hengguangda claims to be China’s only polyurethane catalyst maker that covers all three major additive types, tin, amine and silicone. It also claims to be the largest one in flexible foam catalysts, accounting for 16% of the China market.
The price for modified MDI in China has tripled to CNY 30,000/ton ($4,391/ton) over the past three years, the company said.
It hopes to develop more synergetic effects between catalysts and its newly started business for slow recovery foam, said Li.
Hengguangda has been supercharging its growth over the past few years. In 2017, it recorded CNY 260m revenue, up by nearly 40% from 2016, and sales jumped 60% year on year during the first half of 2018.