Mumbai, India - Rapidly growing polyurethane consumption is driving growth for Wanhua here, with potential for more, according to a senior manager.
'We are growing in between 20-30% annually; supplying about 1,000 tons each month to India from our sites based in China,' said Michael Zhang. Zhang is general manager, Wanhua International (India). The company was exhibiting at the PU Tech Innovation Day 2018. The Indian Polyurethane Association organised the event on 28th September.
Zhang continued, 'India has huge population and continues to grow fast for the next decade. The PU industry growth is aligned with country’s GDP growth rate.' The Chinese major opened its subsidiary in Mumbai in 2012. It supplies MDI and polyols.
Outside India, Zhang confirmed that Wanhua is investing $1.12 bn in a 400 kT/year MDI plant in Louisiana, US. 'We have acquired land and the site is likely to be fully operational in the next five years', he said.