In the first quarter of this year, eachMDICompanies are facing a challenging business environment, such as inflation, high energy prices in Europe, and weak demand in many markets around the world. During the reporting period, MDI and other polyurethane products have achieved good performance in revenue, sales price and profit different degrees of decline. In these difficult times, these international MDIFor enterprisesMDIHow do you view the future market prospects of polyurethane? What development trends and growth drivers will the industry have?
Recently, Covestro, Huntsman, Dow and other international companiesMDIEnterprises have released2023The financial report for the first quarter of 2019, and the financial report conference call (2023Q1 Earnings call), this article We have simply excerpted and compiled relevant meeting minutes, especially for the recent global MDI and views on the performance and outlook of major polyurethane downstream markets.
Covestro
2023 In the first quarter of 2019, mainly affected by the decline in sales volume and sales price, Covestro achieved group sales37100 million euros, a year-on-year decrease20.1% . EBITDAProfit2.86100 million euros, a year-on-year decrease64.5% .
Covestro believes that the company’s core products<span style="font-family:"Arial&quoMDISupply Market Outlook:“MDIProducts belonging to the cycle category, as we said before, I am MDIThe supply and demand situation feels good. In the short term, (MDI ) operating rate at75% – 80% span>. It all depends on the Chinese (MDI) views on production capacity growth. We believe that over time, the industry will operate at 70-80% range.
YesMDI Demand Market Outlook: “Inflationary pressures are present in many markets around the world and will continue for a longer period of time. Commodity prices are falling , but the decline has not been transmitted to the consumer side. The manufacturing confidence index is not that good. Until recently, the economy of many countries has been in contraction. :9.0pt”>PMISome positive signs are seen in the data, such as China. The situation in North America is still somewhat complicated, but several regions of the Federal ReservePMIIt’s starting to move into positive territory. So I think we’ll get back to normal as sentiment improves. What drives our business growth is usuallyGDP and the growing middle class. We believe both of these factors will continue to drive their long-term growth.
Polyurethane products are driven by housing starts and home sales, whether for insulation, appliances, durable goods or Dow Industrial Solutions Markets like agriculture and pharmaceuticals, every day, there are positive trends in the consumer goods you buy, household goods, cleaning supplies. So I think it’s a matter of timing. There have been many programs, incentives and policies to drive this capital to invest in infrastructure, but it will take a while for growth to really materialize. “
In terms of mobility, global automobile production is expected to grow steadily. Our high-value polyurethane systems and EPDM technologies contribute to the lightweighting of vehicles. “
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