Covestro, one of the world’s leading polymer providers, announced today the completion of thermoplastic polyurethane (TPU) capacity expansion at its Changhua manufacturing site in Taiwan. This comes after the successful expansion in New Martinsville in the US and the takeover of the majority of the Japan Joint Venture, all happening within 12 months. With the expansion, the site’s production capacity increased by 30%, an important step to benefit from the growing demands in the APAC region. TPU is a highly versatile elastomer that offers both superior performance as well as flexibility. It has various applications from footwear, automotive all the way to IT. Changhua site’s proximity to ASEAN is also an advantage as it gives Covestro the upper hand, especially in industries such as footwear.
The global TPU market is expected to grow at 6% in the forecast period 2017 to 2022, and the majority of such growth will come from the APAC region. “One of our strategies is to participate in this growth with our capacity expansion,” said Dr. Stephan Ehlers, Head of TPU Production & Technology. “It will allow us to better serve our customers, meet the rising market demands and also sustain our strong presence in the APAC region.”
“The Changhua site is Covestro’s largest TPU production site in Asia, supported by Covestro’s APAC TPU Research and Development Center,” said Dr. Thomas Roemer, Global Head of Thermoplastic Polyurethanes. “With the capacity expansion, we will cater to the market’s needs in APAC with diverse and innovative products, such as bio-based TPU.”
The global TPU market is expected to grow at 6% in the forecast period 2017 to 2022, and the majority of such growth will come from the APAC region. “One of our strategies is to participate in this growth with our capacity expansion,” said Dr. Stephan Ehlers, Head of TPU Production & Technology. “It will allow us to better serve our customers, meet the rising market demands and also sustain our strong presence in the APAC region.”
“The Changhua site is Covestro’s largest TPU production site in Asia, supported by Covestro’s APAC TPU Research and Development Center,” said Dr. Thomas Roemer, Global Head of Thermoplastic Polyurethanes. “With the capacity expansion, we will cater to the market’s needs in APAC with diverse and innovative products, such as bio-based TPU.”