The US MDI market experienced soft end-of-year conditions as the volume of available supply rose while the interest of consumers remained lethargic, resulting in a fall in MDI prices. Demand across sectors was uneven. Furniture and bedding stayed soft as tepid retail sales and cautious consumer spending cut production of flexible foam. The construction sector offered solid support in part due to civil and infrastructure projects, which kept demand strong for rigid foams and insulation despite a slowdown in residential housing activity. The automotive industry gave moderate support due to strong car sales and increased interest in electric and hybrid vehicles. US production remained stable, underpinned by reliable feedstock availability, even though soaring energy prices continued to put margins under pressure. Exports have also remained steady amid shifting global shipping patterns.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
