The per capita consumption of polyurethane has skyrocketed: the Asia Pacific region has become the home market
Release time:
2023-03-21 10:40
Jon Penrice, global market director for Dow's polyurethanes division, expects per capita polyurethane consumption to increase by 50 percent over the next decade.
Jon Penrice, global marketing director for Dow's polyurethanes division
On the first day of UTECH Europe 2015, Penrice said that the average annual consumption of polyurethane is currently 4 pounds (1.8kg) per person, and it is expected to rise to 2025 pounds per person in 6.
This value is only based on the average of the global population, with higher consumption in developed countries and lower consumption in developing countries. Developing countries will be the main growth regions in the future.
Referring to Sadara, a joint venture between Saudi Aramco and Dow Chemical Company, Penrice said: "If the insulation sector grows by 7% in the future, we will need to build another Sardar plant every year." ”
But in addition to capacity expansion, Penrice also emphasized the importance of innovation. "If you're focused on expanding capacity and ignoring innovation, you destroy value." Penrice said.
80% of the world's population is concentrated in the Asia-Pacific region. Penrice said that as the community population continues to grow, so does the demand for polyurethane products, such as bedding, refrigeration equipment and automobiles, which are key areas driving the growth of the polyurethane industry.
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