Polyurethanes (MDI, TDI, polyols): Production
How Wanhua outran BASF and Covestro
What this tab covers Who makes it and how much: world capacity and output, utilisation, the top producing countries and companies globally and in India, concentration, new capacity coming, and each region's position.| Measure | Figure | Detail | Source |
|---|---|---|---|
| World capacity | MDI about 11-12 Mt/yr and TDI about 4 Mt/yr (2025, indicative) | indicative (basis: Wanhua 3.8 Mt MDI at about 30% of world capacity and 1.47 Mt TDI at over 35%, faxiangongchang 2026); the same report also cites 8.62 Mt as world MDI nominal capacity, which conflicts with its share figures | |
| World output | MDI demand about 8.62 Mt (2025, up about 5%); TDI about 3.3 Mt (indicative); polyols about 11 Mt (indicative) | faxiangongchang 2026; TDI and polyols indicative | |
| Capacity utilisation | MDI about 75-80% (2025), about 80% in Q1 2026 | MDI ran at about 85% in 2024. In 2025 Wanhua ran at about 90% while BASF and Covestro ran at about 70-75%. | faxiangongchang 2026 |
| Concentration | Top five MDI producers over 90% of capacity; Wanhua about 30% (MDI) and over 35% (TDI) | BASF holds about 17% of MDI and about 20% of TDI; Covestro about 17% of MDI. Huntsman and Dow form a third tier. | faxiangongchang 2026 |
| New capacity | about 1.2-1.9 Mt/yr of MDI to 2027-2030 | Wanhua Fujian 700 kt/yr MDI from Q2 2026 (faxiangongchang); Xinjiang Heshan Juli Yantai 0.4 Mt/yr (2027), BASF Geismar 0.3 Mt/yr (2026) and Tosoh Vietnam 0.13 Mt/yr (2026) (GlobalData). BorsodChem MDI-2 upgraded from 150 to 240 kt and TDI-2 at 160 kt (2025). No Indian MDI project was confirmed. | faxiangongchang 2026; GlobalData via Offshore Technology, 2025 |
Top producing countries
China 50% · about half of MDI capacity and about 45% of TDI capacity United States 15% · BASF, Covestro, Dow and Huntsman MDI on the Gulf Coast; BASF adds 0.3 Mt in 2026 Germany and rest of EU 18% · BASF, Covestro, Dow and BorsodChem (Hungary, about 400 kt MDI and 250 kt TDI) Japan and South Korea 7% · Tosoh, Mitsui Chemicals (new 100 kt MDI in 2025), Kumho Mitsui Saudi Arabia 4% · Sadara (Dow-Aramco) MDI and TDI faxiangongchang 2026 (TDI); MDI share indicative (basis: Wanhua, BASF, Covestro, Huntsman and Juli plants); GlobalData via Offshore Technology; share indicative; faxiangongchang 2026; share indicative; Alchempro Nov 2025 (Sadara as exporter); share indicativeLargest producers: global
| Company | Country | Volume | Year | Source |
|---|---|---|---|---|
| Wanhua Chemical rising to 4.5 Mt/yr MDI after Fujian expansion in 2026; owns BorsodChem in Hungary | China | 3.8 Mt/yr MDI (plus 1.47 Mt/yr TDI) | end-2025 | faxiangongchang 2026 |
| BASF Geismar MDI 2 (0.3 Mt/yr) due 2026 (GlobalData) | Germany | not published | 2025 | faxiangongchang 2026 |
| Covestro takeover by ADNOC agreed in 2024 (indicative) | Germany | not published | 2025 | faxiangongchang 2026 |
| Huntsman not published in sources reached | US | not published | 2025 | faxiangongchang 2026 |
| Dow (incl. Sadara JV with Aramco) not published in sources reached | US | not published | 2025 | faxiangongchang 2026; Alchempro Nov 2025 |
| Tosoh Japanese plants reduced (faxiangongchang) | Japan | 0.13 Mt/yr MDI (proposed Vietnam plant) | 2026 | GlobalData via Offshore Technology |
Largest producers: India
| Company | Country | Volume | Year | Source |
|---|---|---|---|---|
| Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) India's only TDI producer (indicative); protected by anti-dumping duty on TDI from the EU and Saudi Arabia | India | not published | 2025 | indicative |
| Manali Petrochemicals also India's only PO maker (PO tile) | India | not published | 2025 | PU Daily, 2025 |
| Expanded Polyols Systems | India | not published | 2025 | PU Daily, 2025 |
| Sheela Foam (Sleepwell) largest mattress foam maker (indicative); a TDI importer | India | not published | 2025 | Alchempro Nov 2025 (named in TDI review) |
| Covestro India and Wanhua International (India) no isocyanate production in India | India | not published | 2025 | Alchempro Nov 2025 |
India has no MDI plant and one TDI producer (indicative). Polyether polyol capacity is about 77 kt/yr, while imports were about 500 kt in 2024 and were projected at 550-600 kt in 2025, about 40% from China (PU Daily, 2025).
Position by region
| Region | Position |
|---|---|
| US | Large integrated MDI base on the Gulf Coast; BASF expanding Geismar. |
| EU | BASF and Covestro ran at about 70-75% in 2025 on high energy costs and Chinese competition (faxiangongchang). |
| India | Imports all MDI and most polyols; TDI protected by anti-dumping duty; demand driven by mattresses, appliances, cars and cold chain. |
| China | Wanhua sets the global cost floor and adds capacity; China's PO and polyol self-sufficiency is above 97% (faxiangongchang). |
| Japan | Tosoh and Mitsui cutting or shifting capacity offshore. |
| Middle East | Sadara exports MDI, TDI and polyols, much of it to India; Gulf shipping disruption in 2026 raised costs (MEG tile). |