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.
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.
Ineos to close European PO, PG production
Ineos to close European PO, PG production
London, 18 September (Argus) — UK-based Ineos will indefinitely shut down propylene oxide (PO) and propylene glycol (PG) production in Europe even if chlorine supply resumes to its idled 210,000 t/yr chlorohydrin-based PO production plant in Germany. The firm has notified clients, in a letter dated 8 September, it would cease production of PO and PG with immediate effect. Argus understands Ineos has also withdrawn from industry association Cefic's PO and PG working group from 2026. Ineos' PO production plant at Cologne supplies its 120,000 t/yr PG production unit nearby. Both plants have been offline since a fire on 12 July caused a power outage at Germany's Chempark Dormagen. That in turn prompted German chemical firm Covestro on 15 July to declare force majeure on a range of products, including chlorine. Covestro provides chlorine to Ineos' Cologne PO production plant, which then had to shut down, and Ineos declared force majeure on its PG production on 18 July. Ineos did not declare force majeure on its PO production, which is mainly for captive use. Repairs are underway at Chempark Dormagen but the damage was extensive and full operations are unlikely to resume before the first quarter of 2026. But Ineos has told clients it will not resume PO or PG production. The decision may predate the fire in July, as some downstream users of Ineos' PO have been seeking alternative sources since at least the middle of the second quarter. Ineos has this week declined to comment. By Laura Tovey-Fall Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EU opens in-depth probe into Adnoc-Covestro deal
EU opens in-depth probe into Adnoc-Covestro deal
London, 28 July (Argus) — The European Commission has opened an in-depth investigation under the Foreign Subsidies Regulation (FSR) to assess the acquisition by Abu Dhabi's state-controlled Adnoc of German chemical manufacturer Covestro. The commission said it has "preliminary concerns" that subsidies granted by the UAE could distort the EU internal market, it said today. It flagged an unlimited guarantee from the UAE, as well as a committed capital increase from Adnoc into Covestro, as possible foreign subsidies. These "may have enabled Adnoc to acquire Covestro at a valuation and financial terms that would not be in line with market conditions, and which could not have been matched by unsubsidised investors," the commission said. It also expressed concerns that the deal could allow Adnoc to adopt investment strategies following the transaction that would affect competitive conditions in the EU's internal market. The commission cleared the around around €12bn ($14.1bn) deal on 13 May , saying it would not raise competition concerns. Companies must notify the commission under the EU's foreign subsidies regulation when certain conditions are met. The transaction was notified to the commission on 15 May, it said. Following a preliminary investigation, the commission will now begin an in-depth investigation, aiming to take a decision by 2 December 2025. At the end of the investigation the commission may either issue a no-objection decision, accept commitments proposed by the company to remedy any distortion, or prohibit the deal. Adnoc subsidiary XRG and Covestro "continue to be in constructive discussions with the European Commission and are working co-operatively towards a conclusion of the authority's FSR review," Covestro said today. By Laura Tovey-Fall Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US home building weak in June, PU buyers cautious
US home building weak in June, PU buyers cautious
Houston, 18 July (Argus) — US housing permits and starts in June remained below already depressed year-earlier levels, keeping polyurethane (PU) buyers cautious. Permits for privately-owned units, a sign of future construction, were at a seasonally-adjusted annual rate of 1.397mn units in June, according to the US Census Bureau and Department of Housing and Urban Development (HUD) data. This is down by 4.4pc from the same time a year prior but marks a slight 0.2pc increase from revised figures in May. Housing starts saw less of a decline, slipping by 0.5pc to an annual rate of 1.321mn units in June from a year earlier. Starts in June jumped by 4.6pc from May, led by a near 31pc monthly rise in new buildings of five or more units. Single-family housing starts in June declined by 10pc to 883,000 units from June 2024 and retracted by 4.6pc from the prior month. The latest builder sentiment survey for July sustained a weak view for the single-family housing market despite a nominal increase. The reading reversed the downward sentiment registered in June, rising by 1 point to 33, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is still well below builder confidence at the start of the year when January registered at 47. Residential construction has lagged all year whereas commercial and government construction projects have driven summer PU demand, according to market participants. The building blocks of polyurethanes, such as isocyanates, go into insulation, roofing applications and carpet underlay. Market participants saw the usual uptick for public school projects in June as students are out on summer holiday and anticipate it to slow by August. Renovation and re-roofing projects for polymeric MDI (PMDI) into insulation board rose in June while demand into spray foam insulation, typically used in residential settings, declined. Overall, many participants reported demand was up from the spring but not at normal levels for this time of year. A few price increase announcements came out in May for PMDI for June or July implementation depending on contracts. The announcements were out with the idea that tariffs would slow imported volumes and tighten domestic supply during the peak demand season. However, this did not occur in June as participants saw a smaller than normal lift in demand and ample domestic supply available. Argus assessed June PMDI contract prices flat from the month before. By Catherine Rabe Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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