Insulation industry news from Global Insulation

US: Revenue from Huntsman’s Polyurethane division rose by 35% year-on-year to US$1.39bn in 2021 from US$1.03bn in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 8% to US$218m from US$201m. The group said that price increases offset higher raw material and logistic costs. Overall group revenue and adjusted EBITDA increased by 40% to US$8.45bn and 107% to US$1.34bn respectively.

"We concluded 2021 with the best year in our history with our current portfolio of businesses. The transformation of our portfolio has enabled our company to generate not only our highest ever adjusted EBITDA margins but consistent profit margins quarter on quarter throughout 2021, a hallmark of a more differentiated chemical business,” said chairman, president and chief executive officer Peter R Huntsman.

Huntsman produces a range of chemicals including polyisocyanurate (PIR) and polyurethane (PUR) building insulation products.

World: US-based Huntsman has announced a natural gas surcharge of Euro125/t on its sales of methylene diphenyl diisocyanate (MDI) in Europe, India and the Middle East and Africa (MEAF), in response to an ‘unprecedented’ rise in natural gas prices in the region. The measure entered effect on 1 October 2021. The company says that this has adversely affected the energy inputs, intermediates and multiple feedstock costs incurred in its MDI production.
The new surcharge will operate in conjunction with any previously announced MDI price increases.

Huntsman's Polyurethanes president Tony Hankins said "Huntsman is already working with its customers to manage the impact of the surcharge, which was necessary to respond to the unexpected and unprecedented increase in our production costs."

Austria: Austrotherm has raised the prices of its extruded polystyrene (EPS) insulation and expanded polystyrene (XPS) insulation products. The price rise will take place on 12 March 2018. It has blamed a ‘very tense’ situation in the raw materials market.