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class="container"><div class="PageIntroduction_row__DH0rm row"><div class="col-12 col-lg-8"><div class="qa-pageintroduction-section"><h2 class="qa-pageintroduction-title">Overview</h2><div class="PageIntroduction_description__hOYK7"><div class="qa-pageintroduction-textfield"><p>Polyurethanes are a feature of everyday life. They’re present in our furniture, bedding, clothes, shoes, buildings, and cars. The journey from base chemicals such as propylene or benzene to end-use polyurethanes involves multiple steps and chemical products. Argus can help you to navigate this complex and volatile value chain and make better commercial decisions around sales, marketing, distribution and procurement. </p> <p>Argus’ polyurethanes services give you in-depth global and regional pricing insight, including feedstock analysis, in single, concise and integrated reports. In addition to pricing, you get access to global industry news and analysis of key economic drivers on a weekly basis. We cover isocyanates, propylene oxide, propylene glycols and polyols.</p></div></div></div></div></div></div></div></div><div class="component component-padding grey position-left" id="video"><div class="component-content"><div class="container"><div class="row"><div class="qa-video-left-gradient col-12 col-lg-4 gradient Video_angledGradient__KLTXE"><div class="Video_introGradient__olg7i"><h2 class="qa-video-left-gradient-title">Video: Argus polyurethanes services</h2></div></div><div class="Video_video__X3GQQ"><img alt="" class="vidyard-player-embed" src="https://play.vidyard.com/wCNqWApCUUz7LQAxryytHq.jpg" data-uuid="wCNqWApCUUz7LQAxryytHq" data-v="4" data-type="inline"/></div></div></div></div></div><div class="component component-padding navy " id="news"><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-7"><h2 class="qa-combinedfeed-title section-heading">Latest polyurethanes news</h2><p class="qa-combinedfeed-description">Browse the latest market moving news on the global polyurethanes industry.</p></div></div><div aria-live="polite" class="Tabs_tabs__tVXxO secondary"><div class="qa-tabspanel-list Tabs_panel__uEe2n current" role="tabpanel"><div class="row"><div class="col-12 col-lg-6"><a class="qa-combinedfeed-primary-item News_link__TcfaC News_primary__Fop2j white" href="/ja/news-and-insights/latest-market-news/2624676-lyondell-reports-po-co-products-slowdown-in-3q"><div class="News_primaryInner__9SOga"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">Latest polyurethanes news</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/11/01</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr h2 d-none d-lg-block">Lyondell reports PO, co-products slowdown in 3Q</h3><h3 class="qa-combinedfeed-item-title News_headline__JsnZr d-lg-none">Lyondell reports PO, co-products slowdown in 3Q</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Houston, 1 November (Argus) — LyondellBasell reported a slowdown in its propylene oxide (PO) and co-products sales in the third quarter, on modest demand and lower derivatives and export margins. LyondellBasell's intermediates and derivatives segment reported operating income of $210mn in the third quarter, down by 65.5pc from $611mn a year earlier. This segment includes propylene oxide (PO) and derivatives and co-products derived from PO production, including oxyfuels (MTBE/ETBE), styrene monomer (SM) and isobutylenes. The company did not disclose sales volumes for its PO business but did note difficult market conditions during the third quarter, as its PO and derivatives results decreased by $35mn from a year prior. "Our propylene oxide and derivatives business encountered headwinds due to volatile prices for propylene feedstocks and volume impacts from Hurricane Beryl and planned maintenance," said executive vice president Kim Foley in an earnings call on Friday. LydondellBasell's newest 470,000 metric tonnes (t)/yr PO and tertiary butyl alcohol (TBA) plant in Channelview, Texas, operated at nameplate capacity during the third quarter, the company said. The company is continuing to target a 75pc operating rate in the fourth quarter for its intermediates and derivatives assets, as its Bayport, Texas, facility undergoes planned maintenance. LyondellBasell expects softer seasonal demand in the fourth quarter, with second half results lower than the first half of the 2024. The potential for lower borrowing costs may drive recovery and PO demand from durable goods, the company said, but it does not expect markets to materially improve in the last part of the year. The company's total operating income dropped by 23pc to $573mn in the third quarter from a year earlier. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div><span class="qa-combinedfeed-item-cta cta d-none d-lg-inline-flex"></span></a></div><div class="col-12 col-lg-6"><div class="News_secondaryGroup__CVF5i"><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A white" href="/ja/news-and-insights/latest-market-news/2623620-basf-materials-unit-sales-higher-despite-price-declines"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">Latest polyurethanes news</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">BASF materials unit sales higher despite price declines</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/30</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">Latest polyurethanes news</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/30</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">BASF materials unit sales higher despite price declines</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Houston, 30 October (Argus) — German-based chemical company BASF reported a gain in total material sector business sales in the third quarter, as volume increases in the monomers division offset lower performance materials prices. Materials division sales rose by 1.9pc to €3.4bn ($3.69bn) from a year prior. A 3.5pc increase in volumes helped to negate a 0.5pc decline in prices during the quarter. Increases in the MDI, propylene oxide and ammonia value chains drove higher overall volumes in the third quarter, and the sector benefitted from a stable market environment, BASF said in an earnings call on Wednesday. The company's materials sector has a performance materials division, which includes engineering plastics, thermoplastic polyurethane and polyurethane systems, and a monomers division that encompasses isocyanates, adipic acid, chlorine, ammonia and other products. Performance materials volumes were stable, rising by just 0.2pc in the third quarter, while sales declined by 3.3pc. This sales decline was driven by lower performance materials prices, down by 2pc on the year, primarily in Europe and North America. The monomers division reported a 7.2pc increase in volumes, contributing to a 7.8pc rise in sales year over year. A 1.2pc price increase in the monomers division and improving demand partially compensated for price declines in performance materials. BASF's total sales remained flat at €15.7bn in the third quarter from a year prior. BASF's outlook for the full year remained unchanged, with slight growth in chemical production expected. The company also noted that it expects overall volumes to maintain steady through the fourth quarter. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A white" href="/ja/news-and-insights/latest-market-news/2623145-covestro-reports-higher-q3-sales-chemical-volumes"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">Latest polyurethanes news</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Covestro reports higher Q3 sales, chemical volumes</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/29</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">Latest polyurethanes news</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/29</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Covestro reports higher Q3 sales, chemical volumes</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Houston, 29 October (Argus) — German chemical firm Covestro reported an increase in both group sales and volumes sold in the third quarter on improving global demand. Group sales rose by 1pc to €3.6mn ($3.88mn) in the third quarter, despite lower selling price levels across all regions, Covestro said in an earnings call on Tuesday. An increase in volumes across the Asia-Pacific and Europe, Middle East, Africa and Latin America (EMLA) regions buoyed sales and offset declining prices. Total product volumes rose by 6.1pc year over year, driven by higher demand and improved internal ability. Product volume numbers by region were not provided. Sales in the performance materials segment, which includes standard MDI, TDI, long chain polyols, standard polycarbonate resins and basic chemicals, rose by 4.1pc from the prior year to €1.77mn driven by an increase in volumes sold. Performance materials volumes increased by 8.6pc in the third quarter, led by the EMLA region. Abu Dhabi's state-owned Adnoc agreed to buy Covestro on 1 October for €62/share. Adnoc published its offer document on 25 October, marking the start of the initial acceptance period that will last until 27 November. There is also the possibility of an additional acceptance period, the company said, which would last through the middle of December. For 2024, Covestro is forecasting declines in all major regions across industries that drive customer demand, except for the electrical, electronics and household appliances industry in which it expects 4.2pc growth. The company also narrowed full-year sales expectations from €14-15bn to €14-14.5bn. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A white" href="/ja/news-and-insights/latest-market-news/2622182-carlisle-3q-sales-up-in-challenging-environment"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">Latest polyurethanes news</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Carlisle 3Q sales up in challenging environment</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/25</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">Latest polyurethanes news</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Carlisle 3Q sales up in challenging environment</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Houston, 25 October (Argus) — US building materials supplier Carlisle Companies reported an increase in revenue in the third quarter but expects soft residential demand to continue through the end of the year. Carlisle Companies lowered its 2024 guidance from 12pc to 10pc revenue growth, partly due to the challenging construction environment. Two hurricanes along the Gulf Coast and a port strike that limited work in the third quarter also led the company to lower guidance. Revenue in the third quarter rose by 6pc to $1.3bn compared with a year prior, led by sales in the Carlisle Construction Materials (CCM) segment, which grew by 9pc to $998mn. CCM growth was driven by continued contractor backlogs, commercial re-roofing demand and inventory normalization, the company said. The company anticipates significant pent up re-roofing demand to drive growth over the next few years, specifically in the commercial building space. Carlisle Weatherproofing Technologies (CWT) revenue declined 3pc to $335mn in the third quarter from a year earlier. Softer residential end markets in a high interest rate environment and low housing turnover impacted the CWT business segment, said Carlisle President, Chris Koch. The US Federal Reserve cut its target interest rate in September, the first rate cut since 2020, with the expectation of more to come. Most market participants do not expect economic factors to impact orders until one to two quarters after such movements. Construction is one of the largest demand sectors for MDI and polyols for use in insulation board and polyurethane coatings. The construction industry is the most active in the summer and demand for chemicals like MDI into insulation board tends to be steady through the third quarter and taper off into the fourth. By Catherine Rabe Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A white" href="/ja/news-and-insights/latest-market-news/2621498-dow-to-review-european-polyurethane-assets"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">Latest polyurethanes news</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Dow to review European polyurethane assets</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/24</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">Latest polyurethanes news</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">24/10/24</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Dow to review European polyurethane assets</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">London, 24 October (Argus) — US chemicals firm Dow is undertaking a strategic review of its European polyurethanes assets, the company said today. Dow will consider whether there are divestment opportunities. The assets under review are not loss-making and have "good cost positions in the European market", chief executive Jim Fitterling said during the firm's third-quarter results call. The review "really isn't driven primarily by shutdowns", he said. Dow has a 635,000 t/yr chlorohydrin PO production plant in Stade, Germany, as well as related derivatives capacity at the site including 280,000 t/yr of propylene glycol production. The firm has 330,000 t/yr of HPPO capacity in Belgium as part of a join-venture with BASF and 684,000 t/yr of polyether polyols production capacity across three sites in Belgium, the Netherlands and Spain. It also has 380,000 t/yr of installed MDI production capacity across two sites in Germany and Portugal as part of its polyurethanes portfolio. "I don't believe shutting down MDI assets is going to be a value-creating opportunity, but we're going to look at everything," Fitterling said. The firm's chlor-alkali and vinyl (CaV) assets will be included in the review. "Chlorine-PO integration is critical for us," Fitterling said. "They are not [separable], we are not going to do anything without close contact with not only our own chlorine assets but also with our partners in Europe." Dow has two chlorine assets in Europe including 1mn t/yr of diaphragm capacity and 600,000 t/yr of membrane capacity at Stade, as well as 250,000 t/yr of membrane capacity at Schkopau in Germany. Fitterling did not discuss the firm's upstream assets but said the review in Europe "is around polyurethanes". The assets under review account for around 20pc of Dow's sales in Europe, the Middle East and Africa. Dow expects to complete the review by mid-2025. The firm pointed to "key competitiveness issues" and "the higher cost position" in Europe. It said it has concerns around the "need for clear and consistent long-term regulatory policies for our industry". In the current environment, demand recovery is "unlikely to be enough" to provide swift growth in Europe, it said. LyondellBasell launched a similar strategic review of some European assets in May, although it has not yet announced any conclusions. Sales down Sales volumes in Dow's Industrial Intermediates & Infrastructure segment, which includes its polyurethanes business, fell by 2pc in the third quarter compared with a year earlier. This was driven by lower volumes in the Polyurethanes & Construction Chemicals business, "primarily from a force majeure in MDI following a third-party supplier outage", the company said. Net sales revenue for the Industrial Intermediates & Infrastructure segment was $3bn in July-September, down by 2pc from a year earlier. Local prices were flat year on year, the firm said. By Laura Tovey-Fall Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . 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White Paper: The Methodology Behind MDI Assessments","Description":"Argus launched monthly methylene diphenyl diisocyanate (MDI) contract price assessments on a delivered basis for Europe and the US in October, in response to growing interest from producers and consumers in navigating this market.","Category":"WhitePaper","CreatedDate":"2024-02-04T11:02:00Z","ImageUrl":"/-/media/project/argusmedia/mainsite/images/14-generic-hero-banners/herobanner_1600x530_generic-c.jpg?rev=2cf023b4e0484c1bb091b9f72dbf7771\u0026la=ja\u0026hash=D5EDAB9A3A94892366EDC06A581042E7","ExternalLink":null,"ItemUrl":"/ja/news-and-insights/market-insight-papers/argus-isocyanates-white-paper-the-methodology-behind-mdi-assessments"}]},"b8c35964-4f91-4a70-9c65-b0cee88b3c9a":{"data":[{"totalHitCount":24,"hitCount":5,"items":[{"type":"News","datePublished":"2024-11-01T20:19:02Z","headline":"Lyondell reports PO, co-products slowdown in 3Q","summary":"Houston, 1 November (Argus) — LyondellBasell reported a slowdown in its propylene oxide (PO) and co-products sales in the third quarter, on modest demand and lower derivatives and export margins. LyondellBasell's intermediates and derivatives segment reported operating income of $210mn in the third quarter, down by 65.5pc from $611mn a year earlier. This segment includes propylene oxide (PO) and derivatives and co-products derived from PO production, including oxyfuels (MTBE/ETBE), styrene monomer (SM) and isobutylenes. The company did not disclose sales volumes for its PO business but did note difficult market conditions during the third quarter, as its PO and derivatives results decreased by $35mn from a year prior. \"Our propylene oxide and derivatives business encountered headwinds due to volatile prices for propylene feedstocks and volume impacts from Hurricane Beryl and planned maintenance,\" said executive vice president Kim Foley in an earnings call on Friday. LydondellBasell's newest 470,000 metric tonnes (t)/yr PO and tertiary butyl alcohol (TBA) plant in Channelview, Texas, operated at nameplate capacity during the third quarter, the company said. The company is continuing to target a 75pc operating rate in the fourth quarter for its intermediates and derivatives assets, as its Bayport, Texas, facility undergoes planned maintenance. LyondellBasell expects softer seasonal demand in the fourth quarter, with second half results lower than the first half of the 2024. The potential for lower borrowing costs may drive recovery and PO demand from durable goods, the company said, but it does not expect markets to materially improve in the last part of the year. The company's total operating income dropped by 23pc to $573mn in the third quarter from a year earlier. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2624676"}],"tags":null,"taxonomy":null,"id":2624676,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-10-30T20:28:48Z","headline":"BASF materials unit sales higher despite price declines","summary":"Houston, 30 October (Argus) — German-based chemical company BASF reported a gain in total material sector business sales in the third quarter, as volume increases in the monomers division offset lower performance materials prices. Materials division sales rose by 1.9pc to €3.4bn ($3.69bn) from a year prior. A 3.5pc increase in volumes helped to negate a 0.5pc decline in prices during the quarter. Increases in the MDI, propylene oxide and ammonia value chains drove higher overall volumes in the third quarter, and the sector benefitted from a stable market environment, BASF said in an earnings call on Wednesday. The company's materials sector has a performance materials division, which includes engineering plastics, thermoplastic polyurethane and polyurethane systems, and a monomers division that encompasses isocyanates, adipic acid, chlorine, ammonia and other products. Performance materials volumes were stable, rising by just 0.2pc in the third quarter, while sales declined by 3.3pc. This sales decline was driven by lower performance materials prices, down by 2pc on the year, primarily in Europe and North America. The monomers division reported a 7.2pc increase in volumes, contributing to a 7.8pc rise in sales year over year. A 1.2pc price increase in the monomers division and improving demand partially compensated for price declines in performance materials. BASF's total sales remained flat at €15.7bn in the third quarter from a year prior. BASF's outlook for the full year remained unchanged, with slight growth in chemical production expected. The company also noted that it expects overall volumes to maintain steady through the fourth quarter. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2623620"}],"tags":null,"taxonomy":null,"id":2623620,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-10-29T20:32:56Z","headline":"Covestro reports higher Q3 sales, chemical volumes","summary":"Houston, 29 October (Argus) — German chemical firm Covestro reported an increase in both group sales and volumes sold in the third quarter on improving global demand. Group sales rose by 1pc to €3.6mn ($3.88mn) in the third quarter, despite lower selling price levels across all regions, Covestro said in an earnings call on Tuesday. An increase in volumes across the Asia-Pacific and Europe, Middle East, Africa and Latin America (EMLA) regions buoyed sales and offset declining prices. Total product volumes rose by 6.1pc year over year, driven by higher demand and improved internal ability. Product volume numbers by region were not provided. Sales in the performance materials segment, which includes standard MDI, TDI, long chain polyols, standard polycarbonate resins and basic chemicals, rose by 4.1pc from the prior year to €1.77mn driven by an increase in volumes sold. Performance materials volumes increased by 8.6pc in the third quarter, led by the EMLA region. Abu Dhabi's state-owned Adnoc agreed to buy Covestro on 1 October for €62/share. Adnoc published its offer document on 25 October, marking the start of the initial acceptance period that will last until 27 November. There is also the possibility of an additional acceptance period, the company said, which would last through the middle of December. For 2024, Covestro is forecasting declines in all major regions across industries that drive customer demand, except for the electrical, electronics and household appliances industry in which it expects 4.2pc growth. The company also narrowed full-year sales expectations from €14-15bn to €14-14.5bn. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2623145"}],"tags":null,"taxonomy":null,"id":2623145,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-10-25T17:44:27Z","headline":"Carlisle 3Q sales up in challenging environment","summary":"Houston, 25 October (Argus) — US building materials supplier Carlisle Companies reported an increase in revenue in the third quarter but expects soft residential demand to continue through the end of the year. Carlisle Companies lowered its 2024 guidance from 12pc to 10pc revenue growth, partly due to the challenging construction environment. Two hurricanes along the Gulf Coast and a port strike that limited work in the third quarter also led the company to lower guidance. Revenue in the third quarter rose by 6pc to $1.3bn compared with a year prior, led by sales in the Carlisle Construction Materials (CCM) segment, which grew by 9pc to $998mn. CCM growth was driven by continued contractor backlogs, commercial re-roofing demand and inventory normalization, the company said. The company anticipates significant pent up re-roofing demand to drive growth over the next few years, specifically in the commercial building space. Carlisle Weatherproofing Technologies (CWT) revenue declined 3pc to $335mn in the third quarter from a year earlier. Softer residential end markets in a high interest rate environment and low housing turnover impacted the CWT business segment, said Carlisle President, Chris Koch. The US Federal Reserve cut its target interest rate in September, the first rate cut since 2020, with the expectation of more to come. Most market participants do not expect economic factors to impact orders until one to two quarters after such movements. Construction is one of the largest demand sectors for MDI and polyols for use in insulation board and polyurethane coatings. The construction industry is the most active in the summer and demand for chemicals like MDI into insulation board tends to be steady through the third quarter and taper off into the fourth. By Catherine Rabe Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2622182"}],"tags":null,"taxonomy":null,"id":2622182,"language":"en-GB","body":null},{"type":"News","datePublished":"2024-10-24T15:42:36Z","headline":"Dow to review European polyurethane assets","summary":"London, 24 October (Argus) — US chemicals firm Dow is undertaking a strategic review of its European polyurethanes assets, the company said today. Dow will consider whether there are divestment opportunities. The assets under review are not loss-making and have \"good cost positions in the European market\", chief executive Jim Fitterling said during the firm's third-quarter results call. The review \"really isn't driven primarily by shutdowns\", he said. Dow has a 635,000 t/yr chlorohydrin PO production plant in Stade, Germany, as well as related derivatives capacity at the site including 280,000 t/yr of propylene glycol production. The firm has 330,000 t/yr of HPPO capacity in Belgium as part of a join-venture with BASF and 684,000 t/yr of polyether polyols production capacity across three sites in Belgium, the Netherlands and Spain. It also has 380,000 t/yr of installed MDI production capacity across two sites in Germany and Portugal as part of its polyurethanes portfolio. \"I don't believe shutting down MDI assets is going to be a value-creating opportunity, but we're going to look at everything,\" Fitterling said. The firm's chlor-alkali and vinyl (CaV) assets will be included in the review. \"Chlorine-PO integration is critical for us,\" Fitterling said. \"They are not [separable], we are not going to do anything without close contact with not only our own chlorine assets but also with our partners in Europe.\" Dow has two chlorine assets in Europe including 1mn t/yr of diaphragm capacity and 600,000 t/yr of membrane capacity at Stade, as well as 250,000 t/yr of membrane capacity at Schkopau in Germany. Fitterling did not discuss the firm's upstream assets but said the review in Europe \"is around polyurethanes\". The assets under review account for around 20pc of Dow's sales in Europe, the Middle East and Africa. Dow expects to complete the review by mid-2025. The firm pointed to \"key competitiveness issues\" and \"the higher cost position\" in Europe. It said it has concerns around the \"need for clear and consistent long-term regulatory policies for our industry\". In the current environment, demand recovery is \"unlikely to be enough\" to provide swift growth in Europe, it said. LyondellBasell launched a similar strategic review of some European assets in May, although it has not yet announced any conclusions. Sales down Sales volumes in Dow's Industrial Intermediates \u0026 Infrastructure segment, which includes its polyurethanes business, fell by 2pc in the third quarter compared with a year earlier. This was driven by lower volumes in the Polyurethanes \u0026 Construction Chemicals business, \"primarily from a force majeure in MDI following a third-party supplier outage\", the company said. Net sales revenue for the Industrial Intermediates \u0026 Infrastructure segment was $3bn in July-September, down by 2pc from a year earlier. Local prices were flat year on year, the firm said. By Laura Tovey-Fall Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . 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