Huntsman Corp. is likely to build a new
polyurethanes systems facility in Dubai. The facility, located within the Jebel
Ali Free Trade Zone, is likely to strengthen Huntsman’s distinguished
downstream capabilities in the Middle East and is anticipated to finish the end
of 2019.
United
States: Huntsman
Corp. has announced plans to build a new polyurethanes facility in Dubai, to
strengthen its downstream capabilities in the Middle East. The company already has two facilities in the
Middle East, one Huntsman EMA in Turkey and HAPC which is a joint venture with
the BCI Group of Companies in Saudi Arabia.
The facility is expected to
be completed by the latter half of 2019. Huntsman’s investment will increase
the company’s systems production capacity in the region and add a new dimension
to its polyester polyol capabilities.
The president for Huntsman’s
polyurethanes division claimed that the investment will serve as a strategic
platform to expand business in the Middle East and North Africa and enable the
company to lead the market.
According to Huntsman, the
methylene diphenyl diisocyanate-based (MDI) systems market in the Middle East
has delivered strong growth in the last five years and is expected to witness
growth at estimated rates of 7% annually. The construction of the new facility will
enable the company to supply traditional and high-end rigid polyurethane
formulations from a local source, while leveraging development and production knowledge
in polyester polyol and polyol blends for the fast-growing flexible foam and
footwear markets, as well as pre-polymers for adhesives, coatings and
elastomers applications.
Huntsman, headquartered in
Texas operates in more than 75 manufacturing, R&D and operations facilities
in almost 30 countries.
According to TechSci Research, the new facility in
Dubai will enable Huntsman to strengthen its position in the Middle Eastern
Market. The move is also expected to have a positive impact on the coatings and
adhesive industry as the facility will allow the chemical maker to supply traditional
and new polyurethane formula and leverage development and production knowledge,
which is in turn expected to have a positive impact on Waterborne Polyurethane
as well as Polyurethane Elastomers. Polyurethane has versatile applications
across various end-use industries.
According to the recently
published report by TechSci Research, “Global Waterborne Polyurethane Market, By Application (Coating, Sealant,
Adhesive & Elastomer), Competition Forecast & Opportunities, 2013 –
2023”, Global waterborne polyurethane market is projected to grow at a CAGR
of over 5%, in value terms, during 2018-2023. Increasing usage waterborne
polyurethane, stringent environmental regulations, ease of manufacturing,
technological advancement and high demand from petrochemical industry are some
factors, that will propel the demand for waterborne polyurethane over the next
five years. Europe is anticipated to remain a strong contributor in the
waterborne polyurethane market in the forecast period, owing to high production
WPU. APAC is expected to register faster CAGR than any other region, backed by
increasing demand from developing economies India, China and Vietnam etc.
According to the
recently published report by TechSci
Research, “Global Polyurethane Elastomers Market, By Type (Thermoset Polyurethane Elastomer
and Thermoplastic Polyurethane Elastomer), By Application (Automotive &
Transportation, Footwear, Building & Construction, Industrial Machinery and
Others), By Company and By Geography, Forecast & Opportunities, 2023”, Global Polyurethane
Elastomers Market is projected to reach USD 16.88 Billion by 2023, at a CAGR of
over 6% during the forecast period owing to the excellent properties of PU
elastomers, such as heat resistance, aging resistance, huge variety,
flexibility, durability and chemical resistance. Moreover, rising demand from
the automotive industry, footwear and transportation industries further drives
the Polyurethane Elastomers market. Based on type, the market has been
categorised into Thermoset Polyurethane Elastomer and Thermoplastic Polyurethane
Elastomer. The thermoset polyurethane elastomers dominated the market in 2017
and is expected to maintain its dominance over the next five years as well due
to its various properties like high impact strength, greater load bearing
capacity, excellent resistance to oil and grease, and high resilience. Owing to
these properties they are used in specific applications such as automotive
& transportation, footwear, and building & construction. The key
players in the market are BASF SE, The Dow Chemical Company, Huntsman
International LLC, Mitsui Chemicals, Inc., among others.Please follow our LinkedIn and Twitter pages to get live updates on market research insights and analysis.