On September 21, Covestro announced that it would adjust the product portfolio of its customized polyurethane business unit in the Asia Pacific region (excluding Japan) for the household appliance industry to meet the changing customer needs in this region. Recent market analysis shows that most home appliance customers in the Asia Pacific region now prefer to buy polyether polyols and isocyanates separately. Based on the changing needs of the household appliance industry, the company decided to withdraw from the polyether polyol business in the Asia Pacific region (excluding Japan) for this industry by the end of 2022. The company's product adjustment to the household appliance industry in the Asia Pacific region will not affect its business in Europe and North America. After achieving portfolio optimization, Covestro will continue to sell MDI materials to the home appliance industry in China, India and Southeast Asia as a reliable supplier.

Editor's note:
The predecessor of Covestro is Bayer, who is the inventor and pioneer of polyurethane. MDI, TDI, polyether polyol and polyurethane catalyst also appear because of Bayer.