Covestro’s synthetic polyether polyol business will withdraw from the home appliance market in China, India and Southeast Asia

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· Part of the product portfolio adjustment and optimization of the customized polyurethane business unit

· Home appliances are still a key customer industry for Covestro, and the company will continue to provide them with high-quality MDI

Covestro announced a realignment of the product portfolio of its Customized Polyurethanes business unit for the home appliance industry in Asia Pacific (excluding Japan) 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 polyurethanes – a combination solution combining a synthetic polyether polyol (PET) and an isocyanate (MDI).

Recent market analysis shows that most home appliance customers in the Asia-Pacific region now prefer to purchase PET 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 targeting the PET segment of the industry by the end of 2022. The company's product adjustments for the home appliance industry in the Asia-Pacific region will not affect its business in Europe and North America.

Home appliances are still a key customer industry for Covestro in the Asia Pacific region. After achieving portfolio optimization, 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 composite solutions and expand polyurethane customer base. For the Asia-Pacific region, Covestro will continue to focus on the needs of customers in polyurethane composite applications such as automobiles, wind blades, pultrusion processes and refrigerated containers, and provide them with customized solutions and polyurethane composite products.

Source of article: Covestro