The polyurethane industry is currently undergoing a critical phase

Global M&A​

ADNOC Acquires Covestro: Abu Dhabi National Oil Company completed its acquisition of the German chemical giant Covestro. This is the year's most significant merger, signaling deep involvement of oil capital in high-end materials.

The global supply landscape and pricing strategies for PU raw materials (MDI/TDI) will undergo profound changes.

Trade Environment​

Tariffs & Anti-Dumping: The U.S. has initiated anti-dumping investigations on Chinese MDI, and India on Chinese TPU protective films, with determined dumping margins reaching up to 511.75%.

Chinese PU exports face higher barriers; companies must respond through technological upgrades and capacity relocation (e.g., building plants in Southeast Asia).

Tech Trends​

Bio-based & Low-Carbon: Bio-based polyurethane raw materials are achieving large-scale implementation, and the industrialization of CO₂-based polyurethane technology is accelerating.

This is the core path for the industry to meet "Dual Carbon" goals; future high-end products will increasingly use renewable feedstocks.

Application Expansion​

New Energy & Infrastructure: The proportion of PU used in new energy vehicles (lightweighting, battery potting), wind turbine blades (structural adhesives), and high-speed railways (waterproofing materials) is rapidly increasing.