Covestro's synthetic polyether polyol business to exit the appliance market in China, India and Southeast Asia

Part of the optimization of the portfolio of the Customized Polyurethanes Business Unit.

Appliances remain a key customer industry for Covestro n and the company will continue to provide high-quality MDI to them.

Covestro announced a product portfolio change in its Customized Polyurethanes business unit for the appliance industry in Asia Pacific (excluding Japan) to respond to changing customer needs in the region.

Polyurethane is an important insulation material used in refrigerators and freezer equipment. Covestro currently offers customers in the appliance industry two-component polyurethanes - a combination solution combining synthetic polyether polyol (PET) and isocyanate (MDI).

Recent market analysis shows that most appliance customers in the Asia Pacific region now prefer to purchase both PET and MDI materials separately. Based on the changing needs of the appliance industry, the company has decided to exit the PET segment of the industry in Asia Pacific (excluding Japan) by the end of 2022. The company's product repositioning for the appliance industry in Asia Pacific will not affect its European and North American operations.

Appliances remains a key customer sector for Costain in Asia Pacific. After portfolio optimization, Covestro n will remain a reliable supplier and continue to sell MDI materials to the appliance industry in China, India and Southeast Asia.

Globally, Covestro n continues to work on developing polyurethane portfolio solutions and expanding the polyurethane customer base. For Asia Pacific, Covestro n will continue to focus on customer needs for customized solutions and polyurethane compound products for polyurethane compound applications such as automotive, wind turbine blades, pultrusion processes and refrigerated containers.