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Entering the fourth quarter, domestic and foreign demand rebounded, the MDI market experienced a retaliatory rebound, and prices rose sharply
.
However, as the supply increased at the end of the year, the MDI market began to drop
Regarding the later trend of the MDI market, the industry believes that driven by the strong demand in the downstream refrigerator and freezer, building insulation and adhesive industries, the MDI market is expected to get rid of the trough, or it will be very late
.
China's MDI is mainly used in the fields of home appliances, building insulation, automobiles and adhesives
.
Chinese home appliances have a strong competitive advantage overseas.
In June of this year, the European Union announced a new principle for the application of energy labels for refrigeration equipment, which will be implemented on March 1, 2021
.
This policy may eliminate a large number of obsolete refrigeration products, further stimulating the growth of demand in the freezing industry
In addition to the refrigerator and freezer industry, compared with the consumption structure of foreign countries, there is still potential for the application of MDI in building insulation in China
.
At the same time, the real estate industry at home and abroad is expected to be restored in 2021, which is also positive for the MDI market
What is not commensurate with the growth of MDI demand is the stagnation of the supply side
.
As we all know, due to high technical barriers and large initial investment, the MDI industry has been known for years of high performance and few
Affected by the epidemic this year, many MDI projects have been postponed.
Only BASF's 200,000-ton/year capacity expansion project in Germany has been put into operation
.
In addition, the epidemic has had a greater impact on the global economy.
To sum up, under the game of supply and demand, the MDI industry will be out of the trough in the fourth quarter, and it is expected that it will come to the fore in 2021
