Tosoh plans to invest and build MDI distillation units overseas, and the medium and long-term development of Southeast Asia & India is promising

Tosoh plans to invest and build overseasMDIDevice, expanding in Southeast Asia and India

Recently, Tosoh Trading Co. 2023-2025 mentioned in the medium-term business plan in 2018 that they will build polyurethane raw material diphenylmethane diisocyanate (MDI) rectification device.

According to the report of the Chemical Industry Daily, this set of proposed MDIThe rectification unit is expected to be in2024-2025It will be put into operation at the beginning of the fiscal year. This will be Tosoh’s second overseas rectification plant after China. At the same time, Tosoh will also consider adding JapaneseMDIDebottlenecking capability of the mother liquor device. As of now, the installation site of the rectification unit has not been determined, but the unit will be used by Tosoh to expand its presence in Southeast Asia and IndiaMDI business.

In recent years JapanMDIThe overall export volume remains stable, to Southeast Asia&India exports accounted for the total35%

JapaneseMDIThe manufacturers are Tosoh and Covestro. Among them, Tosoh’sMDIProduction capacity4010,000 tons, accounting for Japan’s total production capacity85%, at the same time Supplying the Japanese local market and overseas markets. The production capacity of Covestro’s Japanese factory is relatively small, basically supplying the Japanese local market.

According to Japanese customs data,2019-2021Year, JapanMDIThe total export volume remained stable overall. AggregationMDIhe pureMDIThe total export volume is 30 Nearly 10,000 tons.

2022year1-8Month, JapanMDIThe cumulative export volume is18.510,000 tons, year-on-year2021year Growth over the same period7.2%. Among them, aggregationMDIaccumulated export volume13.110,000 tons, year-on-year growth1.7%;pureMDIaccumulated export volume5.410,000 tons, year-on-year growth23.3%.

In terms of regions,2022year1-8 Month, JapanMDIThe total export volume to Southeast Asian countries and India is6.510,000 tons, accounting for its total exports35.2%. Vietnam, Malaysia and Singapore are its main Southeast Asian markets.

In view of the overall downward pressure on the global economy,9At the end of the month, the Asian Development Bank released a new version of “2022 The Asian Development Outlook for 2019 lowered the forecast for Asian economic growth this year, but the overall economic growth forecast for Southeast Asia was revised from4monthly forecast4.9%Upgraded to5.1%. This shows that ADB is optimistic about economic recovery in Southeast Asia. This one of Tosoh overseas MDIThe investment plan is also for Southeast Asia &IndiaMDIThe mid- and long-term development of the downstream demand market is promising.

ADB’s economic growth forecast for Southeast Asian countries (latest)

>1-8Month, JapanMDIThe total export volume to Southeast Asian countries and India is6.510,000 tons, accounting for its total exports35.2%. Vietnam, Malaysia and Singapore are its main Southeast Asian markets.

In view of the overall downward pressure on the global economy,9At the end of the month, the Asian Development Bank released a new version of “2022 The Asian Development Outlook for 2019 lowered the forecast for Asian economic growth this year, but the overall economic growth forecast for Southeast Asia was revised from4monthly forecast4.9%Upgraded to5.1%. This shows that ADB is optimistic about economic recovery in Southeast Asia. This one of Tosoh overseas MDIThe investment plan is also for Southeast Asia &IndiaMDIThe mid- and long-term development of the downstream demand market is promising.

ADB’s economic growth forecast for Southeast Asian countries (latest)