Polyurethanes
Overview
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.
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.
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Latest polyurethanes news
Browse the latest market moving news on the global polyurethanes industry.
EU conditionally clears Adnoc-Covestro deal under FSR
EU conditionally clears Adnoc-Covestro deal under FSR
London, 14 November (Argus) — The European Commission has given conditional approval to plans by Abu Dhabi's state-owned Adnoc to acquire German chemicals group Covestro under the EU's foreign subsidies regulation (FSR). Adnoc, to address the commission's competition concerns relating to state subsidies, offered to adapt its articles of association to make sure they align with UAE insolvency law, thereby removing unlimited guarantee from the state. It will also share Covestro's sustainability patents with certain market participants. "Clear, predefined access to these patents will enable others to innovate and advance research in an area that is critical for Europe's future," commission executive vice president Teresa Ribera said. The commission said these commitments "will balance out the negative effects" of the €12bn ($13.9bn) Adnoc-Covestro deal in the EU market. During an in-depth investigation, the commission found that "Adnoc and Covestro received foreign subsidies from the UAE that are liable to distort the EU internal market." These subsidies include an unlimited state guarantee to Adnoc, as well as a committed capital increase from Adnoc into Covestro. "As a result, the merged entity could have engaged in more aggressive investment strategies than absent the subsidies, to the detriment of other market participants and competitive conditions in the internal market," the commission said. The commission gave the green light to the acquisition in May, but decided to launch an in-depth probe in July under the FSR because of competition concerns relating to state subsidies. The FSR began in July 2023 and allows the commission to address distortion caused by foreign subsidies as a way of ensuring a laying playing field for all companies in the EU market. By Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Whirlpool sees 2025 appliance market flat to down
Whirlpool sees 2025 appliance market flat to down
Houston, 28 October (Argus) — Appliance maker Whirlpool anticipates the appliance market to be flat to down slightly, by three percentage points, both overall and for North America this year, Whirlpool said in its third quarter earnings release. Whirlpool's third quarter net sales rose by 1pc to $4bn up from $3.9bn in the prior year because of new product releases, specifically in North America. Whirlpool plans to launch over 100 new products globally in 2025. North American net sales rose by 3pc year over year in the third quarter, strengthened by new product sales. Net sales in Latin America and Asia were down 6pc and 7pc, respectively, because of volume declines. Whirlpool's small domestic appliances (SDA) segment sales increased 10pc in the third quarter supported by new product launches. Of Whirlpool's major appliance products sold in the US, 80pc are produced in the US, lessening the strain poised by tariffs. The company is still battling imports that were front loaded prior to tariffs but is starting to see import inventories and arrivals decline. Appliance makers us polyurethanes for insulation and sealants. Polyurethane demand has been below historic levels this year as tariffs and economic uncertainty have slowed consumer demand, according to market participants. Many polyurethane participants expect next year to look similar to 2025 for appliance application demand. Whirlpool expects recovery in the housing market to benefit the appliance maker as they have a high home builder relationship allowing Whirlpool appliances to be placed in new builds. The US has a shortfall of three to four million housing units, the company said. The company delayed its expectation of the US housing market recovery in 2025 moving it into 2026 to begin a multi-year rebound once interest rates ease. Despite a challenging 2025, the company views its North America business well placed for future growth. Whirlpool reported a $73mn profit in the third quarter, a decrease from $109mn recognized last year. By Catherine Rabe Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Dow to shut Belgian polyols plant by March 2026
Dow to shut Belgian polyols plant by March 2026
London, 2 October (Argus) — US chemical firm Dow will shut its 94,000 t/yr polyether polyols production site at Tertre, Belgium, by the end of March next year, it confirmed to Argus today. The move is part of a broader review of the company's European assets aimed at addressing "the structural challenges of high costs, driven by high energy costs and a burdensome regulatory environment", Dow said. The site is likely to be dismantled after closure, workers' union FGTB said. The plant has three production lines, but two were already idled as part of a restructuring that began in 2023, according to the union. The closure will affect 37 roles and eight contractor positions. Dow said it does not expect any impact to customers and will continue delivering the same product mix. The firm has 530,000 t/yr of polyether polyols capacity at its Terneuzen site in the Netherlands and a further 60,000 t/yr in Tarragona, Spain. Europe's polyether polyols market has been pressured by weak demand and excess production capacity, compounded by rising imports, mainly from Asia. Dow said a loss of competitiveness in the face of increased imports was a key factor in the decision to close the Tertre site. Imports of all polyethers, including polyether polyols, into the EU averaged 286,000 t/yr in 2020–24, with record deliveries of 323,000t last year. Imports in January–July this year were 6.3pc higher than the same period a year earlier. China is the leading supplier, followed by South Korea and Saudi Arabia. Demand from key polyether polyol sectors — including automotive, appliances and soft furnishings — has been hit by limited consumer confidence and lower spending on durable goods. Demand from the construction sector has also faltered on economic uncertainty and a weak investment environment. Argus assessed the September contract price for flexible slabstock polyether polyols at €1,030–1,100/t, down from a midpoint of €1,225/t in January and 24pc lower than the September 2024 price. Early indications for October suggest continued softening in the polyols market. By Laura Tovey-Fall Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US government shutdown delays construction data
US government shutdown delays construction data
Houston, 1 October (Argus) — The US government's shutdown that started today will delay the release of monthly domestic construction spending data closely watched by a number of commodity markets, including polyvinyl chloride (PVC), polyurethane, asphalt, steel and non-ferrous metals. The partial government shutdown started today and marks the first in six years after talks among lawmakers and the White House to reach a last-minute funding agreement failed. The US Census Bureau, which was expected to release its monthly residential and commercial construction data today, anticipates 7pc of its 11,100 staff will be exempted from furloughs during the shutdown, but "most activities will cease", according to the bureau's updated shutdown plan. The bureau's website today posted a message saying information would not be updated due to the lapse of funding and inquiries not answered until after funding has resumed. The monthly report is a critical dataset for domestic PVC market participants and others because it provides insight into construction activities that consume large volumes of certain commodities, especially in the residential market. Domestic PVC and polyurethane demand have remained under pressure this year on a weaker housing market. Participants are closely monitoring construction spending, housing starts and permits for a fundamental shift to stimulate demand, especially after the US Federal Reserve cut its target interest rate and announced a series of cuts during the fourth quarter. The building blocks of polyurethanes, such as isocyanates including polymeric MDI (PMDI), go into insulation, roofing applications and carpet underlay. It is unclear which other government agencies will delay releases or maintain operations. The US Bureau of Labor Statistics, which publishes key data on employment, prices and inflation, plans to "completely cease operations" if funding lapses, according to a shutdown plan dated 26 September. The US Department of Agriculture today added it will not update information on its website during the shutdown. By Catherine Rabe and Gordon Pollock Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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