In-depth analysis: current situation and prospects of polyurethane industry at home and abroad

my country's polyurethane industry started in the late 1950s and has now become the largest producer and consumer of polyurethane. At present, my country's polyurethane production is regionally concentrated, and has formed four regions: the Yangtze River Delta centered on Shanghai, the Pearl River Delta centered on Guangdong, the Bohai Rim and the Northeast region centered on Huludao, and the Northwest region centered on Lanzhou. In the future, the southwest region centered on Chongqing and the Hercynian region centered on Quanzhou will be added in the future.

As the industry develops, many problems have emerged, such as overcapacity, few high-end products, and serious product homogeneity. These problems have seriously affected the international competitiveness of my country's polyurethane industry and need to be resolved urgently.

Polyurethane (PU) is an organic polymer product produced by the chemical reaction of isocyanate and active hydrogen. Its properties can be adjusted in a wide range, such as from sponge to elastomer, from paint to sealant, from shoe sole slurry to spandex and more.

1. The status of the international polyurethane industry
1.1 Development History of International Polyurethane Industry
In 1937, German Otto Bayer first discovered that polyurethane could be produced by the addition polymerization of polyisocyanates and polyol compounds. After World War II, the United States, Britain, Japan and other countries introduced German technology for the production and development of polyurethane.

In 1945, the American Dupont Company and Monsanto Company built a 2,4-toluene diisocyanate test workshop for the production of rigid polyurethane foam.

In 1946, the United States carried out research on rigid polyurethane foam, and the products were used in aircraft sandwich panels.

In 1952, Bayer conducted a pilot test of polyester-based flexible polyurethane foam. From 1952 to 1954, it developed a continuous method to produce polyester-based flexible polyurethane foam, and developed corresponding production equipment.
In 1955, Japan introduced German and American technology and began the production of polyurethane resin.

In 1957, the British company ICI developed polyester-type rigid polyurethane foam using diphenylmethane diisocyanate as raw material.

In 1961, Bayer Company used polyisocyanate PAPI with low vapor pressure to prepare rigid polyurethane foam, which improved the performance of rigid products and reduced the toxicity during construction, and applied it to the on-site spraying process, expanding the application of rigid foam scope.

In the early 1970s, thermoplastic PU elastomer (TPU) was successfully researched.

In the early 1980s, PU engineering plastics came out, and the PU industry showed a new look.

In the 1990s, polyurethane spray elastic materials developed rapidly and became a coating for large-area painting projects.
1.2 International Polyurethane Production
International polyurethane production has been rising steadily. According to statistics, the total global polyurethane output in 2014 was about 21.5 million tons, and the proportions of various products are shown in Figure 1. Materials accounted for 16.28%, polyurethane coatings accounted for 15.12%, polyurethane elastomers accounted for 9.30%, spandex accounted for 2.33%, and polyurethane sealants and adhesives accounted for 3.49%.
The development of fine chemical products such as polyurethane products has been regarded by various countries, especially developed countries, as one of the key strategies for upgrading and adjusting the traditional chemical industry structure, and diversification and refinement are regarded as the development direction of the chemical industry. By 2018, the global polyurethane production is about 23.07 million tons. At present, the growth of polyurethane is stable, and the global polyurethane production will exceed 25.7 million tons in 2022.

According to data from BCC Research, the global proportion of various types of polyurethane products in 2021 is shown in Figure 2. Polyurethane foam still accounts for the largest proportion, about 61% (flexible foam 37% / rigid foam 24%), and polyurethane elastomers account for 15%, coating agents accounted for 10%, polyurethane sealants and adhesives accounted for 8%, polyurethane synthetic leather pulp, spandex, etc. accounted for 6%.

Comparing the production situation in 2021 with that in 2014, the proportion of polyurethane foam, elastomers, adhesives and sealants production increased by more than 5%, while the proportion of coatings decreased.
1.3 International Polyurethane Sales Volume

In 2014, foam plastics accounted for 63% of the total global polyurethane consumption, concentrated in Western Europe (18%), the United States (15%) and China (30%); elastomers accounted for approximately 800,000 tons, concentrated in China, Western Europe and the United States ; The consumption of shoe resin exceeds 3 million tons, concentrated in China; the consumption of coatings (including solvents) is approximately 3.5 million tons, concentrated in China (41%), Western Europe (23%) and the United States (17%). It can be seen that the global polyurethane consumption areas are concentrated in China, the United States and Western Europe. From 2019 to 2022, the global polyurethane consumption scale will generally maintain an upward trend year by year, with an average annual growth rate of about 6.7%.

According to data from Agilentel Research, the global polyurethane market size is shown in Figure 3. It increased steadily from 2016 to 2019, declined slightly in 2020, and then showed an upward trend. From 2016 to 2021, the average annual compound growth rate was 7.1%, reaching 665 million yuan in 2022.