One.
Table 1. The first half of 2017 – the first half of 2018 China’s export of polymerized MDI to Southeast Asian countries
At present, there are 6 MDI manufacturers in China, namely BASF, Covestro, Huntsman, Shanghai Lianheng, Tosoh (Ruian) and Wanhua. Among them, Shanghai Lianheng only produces crude MDI, and Shanghai BASF, Shanghai Huntsman and Tosoh (Ruian) only have MDI distillation units. Roughly estimated, by the end of 2017, China’s production capacity of polymeric MDI was about 2.3 million tons/year.
Among the MDI manufacturers in China, those who export to Southeast Asia mainly include Covestro, Wanhua and Huntsman.
In the first half of 2018, China exported a total of 38,000 tons of polymerized MDI to Southeast Asia, accounting for 12% of the total export volume. During the same period, it decreased by nearly 3,000 tons. However, China’s total export volume in the first half of 2018 has increased compared with 2017, indicating that under the adjustment of the market strategies of various manufacturers, Southeast Asia’s share of China’s polymerized MDI‘s share has declined.
Among export destination countries, Vietnam, Thailand and Indonesia are still the main polymerized MDI markets in Southeast Asia. Among them, Vietnam still accounts for the largest share, and has a year-on-year growth of 4%. In Thailand and Indonesia, sales declined compared to the first half of 2017. It is worth noting that with the production of Dow Sadara polymeric MDI, it is also gradually exploring overseas markets. Dow Thailand, as the largest manufacturing base of Dow in the Asia-Pacific region, has relatively more advantages in developing the polymerized MDI market locally; in Indonesia, Also due to some cooperative refrigerator and freezer companies, the market share of Dow’s polymeric MDI has gradually increased. In addition, the number of China’s polymerized MDI to Malaysia and Singapore has decreased significantly, while the Philippines and Cambodia are relatively small in size, but compared with last year Great growth and great potential for future development.
Two. Comparison of export of polymerized MDI to Southeast Asia in the first half of 2018 between China, Japan and South Korea
Figure 1. From the first half of 2017 to the first half of 2018, China, Japan and South Korea exported polymerized MDI to Southeast Asian countries STRONG>
As can be seen from the above figure, in the first half of 2018, among China, Japan and South Korea, China still accounted for the polymerized MDI market in Southeast Asia More than half of the share, and an increase of 4 percentage points over last year. South Korea’s market share decreased, while Japan’s market share increased slightly.
In the first half of 2018, China, Japan and South Korea exported nearly 70,000 tons of polymeric MDI to Southeast Asia, a year-on-year decrease of 12 %. In the first half of the year, the demand for polymeric MDI in Southeast Asia did not decrease, while the decrease in the total volume of China, Japan and South Korea was mainly due to the market strategies of various manufacturers Adjustments and new players taking part of the market share.
In the second half of this year, the operation of each device was stable, but the traditional peak season did not appear as expected, the economic downturn, the depreciation of currencies of various countries, and the Sino-US trade war and many other influences, it is expected that the Southeast Asian market will continue to slump in the second half of the year.
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