In Dec xxxx, the regional producers decreased their Hexamethylene Diisocyanate quotations in the European region slightly by x.xx. The Hexamethylene Diisocyanate supply rates remained stable in the market. Meanwhile, the market did not showcase any significant improvement in inquiries amid the ongoing economic slowdown in the region, and consumption rates remained moderately low in the Polyurethane segment.
Sources say that the Wood Furniture market in the European region was negatively impacted due to the bursting of a housing bubble, causing a decline in the demand for wood furniture. Consequently, the orders declined for Polyurethane foam from the manufacturing sector negatively impacted Hexamethylene Diisocyanate consumption rates during the month. On the contrary, the demand for Polyurethane slightly picked up the pace in the Automotive industries after Tesla’s announcement that the company is going to compensate for the withdrawn subsidies by the European Government on EV vehicles.
