Global polyether polyol production capacity has expanded significantly over the past 5 years, by 2.8 million metric tons, while demand growth, primarily led by the bedding, automotive and construction industries, has only achieved less than half of this amount, increasing by only 1.1 million metric tons from 2010-2015. Most capacity growth has taken place in China, far in excess of domestic demand, which has led to a global oversupply situation. This has depressed polyols prices significantly.
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