11 March 2011 04:52 [Source: ICIS news]
By Ong Sheau Ling
This year, the south Asian country’s demand for PU for use in its footwear, automotive, furniture and construction sectors is expected to grow between 15-20%, they said at the sidelines of the PU Tech 2011 Exhibition and Conference in
The conference runs from 9-11 March.
The country currently has a low PU per capita ratio of only 0.25kg against 20kg in developed countries, industry sources said.
“We can see that in order for
Recognising India’s potential as a strong MDI market, Huntsman is currently building a new PU system house at Pune, India, that is due to be completed in April 2012.
“Opportunities are everywhere for PU applications. We will see the Indian appetite for TDI, MDI and polyols to be bigger year on year,” said a northeast Asian isocyanates producer.
“We are seeing more small foamers entering the market. That shows the growing market for PU,” said a northeast Asian isocyanates producer.
Existing local foamers are looking at expanding their capacities by 30-50% this year, with emphasis on producing more flexible foams, in which TDI and flexible polyether polyols slabstocks are the raw materials, industry sources said.
“Both our automotive and furniture customers are telling us that their [projected] orders this year [are] at least more than 15% [higher than] last year['s], so we are expanding together with our customers’ need,” said a south India-based foamer.
Meanwhile, a number of northeast Asian manufacturers of home appliances like refrigerators have set up operations in India since last year, expecting strong sales going forward as the country moves forward with industrialisation, sources said.
“This is not a short-term trend and we are expecting more projects to come in[to India] within the next few years,” said the northeast Asian isocyanates producer, adding that investors see
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