Mitsubishi Chemical will accelerate the development of bio-based polyurethane plastics business in 2018. Under the background of high environmental awareness in various countries, biodegradable non-polluting bio-based materials are increasingly welcomed by overseas markets. In this area, Mitsubishi Chemical will We will vigorously promote the development of bio-based polyurethane plastic products. It is expected that the relevant production bases will be established overseas during the year. The initial plan is to produce 100 tons of annual production. After the development, it is expected to reach an annual output of 10,000 tons in 2025 with an annual sales target of 10 billion yen. .
Polyurethane material is an abbreviation of polyurethane. It is a kind of polymer material. As an emerging organic polymer material, it is known as the 'fifth largest plastic' and it is widely used in nationals because of its excellent performance. In many fields of economy, products are applied in light industry, chemical, electronics, textile, medical, construction, building materials, automotive, defense, aerospace, aviation, etc.
The global bio-based polyurethane market is highly concentrated. Market participants are trying to maintain their market share through the innovative development of patented manufacturing processes that combine the use of polyol-based bio-based polyurethanes. Major market participants include Lubrizol, BASF, Dow Chemical Company, Lampuff Ecosystem, Bio-based Technology, Mitsui Chemicals, Hitachi Chemicals, etc.