Top Industry Leaders in the Isocyanate Market
March 2023
By July 2025, Mitsui Chemicals is planning to reduce the manufacturing capacity of its toluene diisocyanate (TDI) plant at Omuta, Japan, from the present 120,000 tonnes/year to 50,000 tonnes/year. In light of domestic and international trends in supply and demand, Mitsui Chemicals has determined that a decreased output of roughly 50,000 tonnes annually will be ideal moving ahead.
With the new configuration, the business will still be able to provide the local market's need for TDI, a raw chemical used to make polyurethane (PU). As part of its long-term plan, Mitsui Chemicals has identified PU as one of several businesses in the that may undergo restructuring.
The reorganisation will include the creation of high value-added goods like high-performance methylene diphenyl diisocyanate and high-performance polyols such polypropylene glycol in addition to the upcoming optimisation of TDI manufacturing capacity.
February 2023
Vencorex is making investments at its Freeport facility in Texas to meet the rising demand for specialised aliphatic isocyanates required to produce low VOC polyurethane paints and adhesives. The new factory is planned to begin operations in the second half of 2023. This project's improved supply reliability will meet the rising demand for specialty aliphatic polyisocyanates on the US market.
January 2023
The third and final phase of BASF's methylene diphenyl diisocyanate (MDI) expansion project, which was first announced in July 2022, has started construction at its Verbund factory in Geismar, Louisiana. By the middle of the decade, the company will increase manufacturing capacity to around 600,000 metric tonnes yearly in order to keep up with the continuous growth of its North American MDI customers.
Major players in the Isocyanates market, including Asahi Kasei Corporation, Metsui Chemicals America, Inc., Evonik Industries AG, LANXESS, DowDuPont, Inc., Tosoh Corporation, Covestro AG, BASF SE, Wanhua Chemical Group Co. Ltd, Huntsman International LLC, Vencorex, Cangzhua Dahua Group Co. Ltd, Komho Mitsui Chemicals Corp, China National Bluestar (Group) Co., Ltd