BASF INOAC Polyurethanes

What BASF INOAC Polyurethanes does

BASF INOAC Polyurethanes (BASF INOAC ポリウレタン株式会社) is a 50/50 joint venture between BASF Japan and INOAC Corporation, founded in 1965 and headquartered in Shinshiro, Aichi Prefecture, Japan. The company develops, manufactures, and sells polyurethane raw materials, formulation systems, molded elastomer products, and related manufacturing equipment through three business divisions: Form Systems (FS), Elastomer (EL), and Basic Materials (BM). Its registered capital is JPY 495,092,000, and it operates additional sales offices in Shinagawa (Tokyo), Nagoya, and Higashimatsushima (Tohoku), serving customers across Japan.

The product portfolio is anchored on four branded lines: FOAMLITE® (rigid polyurethane foam systems for construction insulation, transportation, consumer products, and infrastructure), CELLASTO® (micro-cellular polyurethane elastomers for automotive suspensions, including bump stoppers), LOGLLAN® (thermoplastic polyurethane elastomers for industrial applications), and LUPRANATE® (MDI and TDI isocyanate raw materials). The company supplies major Japanese automotive OEMs for interior and suspension components, and has secured specification placements in residential housing catalogs of LIXIL and YKK AP, alongside a co-developed combined seismic-plus-insulation solution with Ideal Brain Co., Ltd.

Commercially, BASF INOAC Polyurethanes operates a direct enterprise field sales model with proposal-based selling supported by in-house technical teams providing on-site guidance and customization. Revenue is generated through one-time sales of raw materials, formulation systems, and molded products, supplemented by technical services and equipment sales. The company holds ISO 9001 (since 1999) and ISO 14001 (since 2002) certifications, has targeted a 38% Scope 1 & 2 CO2 emissions reduction by 2030 versus a 2013 baseline, and pursues carbon neutrality by 2050. A new manufacturing facility (Building No. 8) was completed at the Shinshiro factory in March 2022 to support growth across all three divisions.

Name

BASF INOAC Polyurethanes

Legal name

BASF INOAC Polyurethanes Ltd.

Website

https://bip-jp.com

Company type

Private

Founded year

1965

Operating status

Operating

Short description

BASF INOAC Polyurethanes is a 1965-founded 50/50 joint venture between BASF Japan and INOAC Corporation that manufactures polyurethane raw materials (LUPRANATE), rigid foam systems (FOAMLITE), and elastomer products (CELLASTO, LOGLLAN) for Japanese automotive OEMs, building materials companies, and industrial customers.

Ownership category

akta.pro rank

Product category

Polyurethane Foam Systems

NAICS

Urethane and Other Foam Product (except Polystyrene) Manufacturing (32615), Plastics Material and Resin Manufacturing (325211), Resin and Synthetic Rubber Manufacturing (32521)

SIC

Plastics Foam Products (3086), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Industrial Organic Chemicals (2860)

akta.pro primary industry

Polyurethanes (MDI/TDI, Polyols, PU Systems) (IMAEADAH)

akta.pro secondary industries

Polyurethane (PU) Rigid Foam Manufacturing (IMANAIAD), Spray Polyurethane Foam (SPF) Systems Manufacturing (IMANAIAL), Construction Foams & Gap Fillers (PU Foams, Low-Expansion) (IMADAOAM), Polymer Foams & Cellular Materials (PU Foams, EPS/XPS, Structural Foams) (IMAEANAL)

Keywords

• Polyurethane foam systems
• MDI isocyanate production
• Rigid foam insulation
• Thermoplastic polyurethane resins
• Polyurethane elastomer components

Headquarters

HQ city

Shinshiro

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Polyurethane Raw Material Sales: Sale of polyurethane raw materials (MDI, TDI, polyols) to manufacturers and processors. Includes polymeric MDI, monomeric MDI, modified MDI, and TDI products under the LUPRANATE brand.
2. Polyurethane Formulation Systems: Sale of complete polyurethane foam formulation systems (フォームライト) for construction, automotive, consumer products, and infrastructure applications. Includes technical services and on-site support.
3. Molded Elastomer Products: Manufacture and sale of molded polyurethane elastomer products including CELLASTO (micro-cellular polyurethane elastomer) for automotive suspensions and LOGLLAN (thermoplastic polyurethane elastomer) for various industrial applications.
4. Manufacturing Equipment Sales: Sale of polyurethane production equipment including foam molding systems, mixing equipment, and processing machinery. Includes specification consultation, manufacturer coordination, production setup, and maintenance services.
5. Technical Services: Technical support, on-site guidance, application data collection, and collaborative product development with customers. Part of the integrated system offering for polyurethane solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels7 records

Core offering

BASF INOAC Polyurethanes develops and manufactures polyurethane foam systems and related polyurethane materials through three business divisions: Form Systems (FS) serving construction and insulation applications, Elastomer (EL) producing polyurethane elastomer components, and Basic Materials (BM) supplying isocyanate raw materials. The company offers branded products such as FOAMLITE, CELLASTO, LOGLLAN, and LUPRANATE to industrial customers.

Product overview

BASF INOAC Polyurethanes operates as a joint venture between BASF Japan and INOAC Corporation, organized into three divisions: Form Systems (FS), Elastomer (EL), and Basic Materials (BM). The company's product portfolio centers on four core polyurethane product lines: FOAMLITE® for rigid foam systems serving construction insulation, transportation, and infrastructure applications; CELLASTO® for foamed elastomer products primarily in automotive suspension; LOGLLAN® for thermoplastic polyurethane elastomers; and LUPRANATE® for MDI and TDI isocyanate raw materials. This integrated structure enables the company to supply raw materials, formulation systems, and finished molded parts across automotive, construction, and industrial sectors.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• CO2 emissions reduction target of 38% by 2030 (vs 2013 baseline)
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Sekiya Brewing Co., Ltd. (関谷醸造株式会社)minorOthers · 1 February 2025Collaboration to produce special 60th anniversary sake as a commemorative project expressing gratitude to customers and partners who have supported the company's growth.関谷醸造 is a long-established local sake brewery in Shita-cho, Shitara, Aichi Prefecture.
• Ideal Brain Co., Ltd. (アイディールブレーン株式会社)coreStrategic or Co-development Partner · 1 October 2024Strategic collaboration to develop combined thermal insulation and seismic protection solutions. Joint development of full-scale performance verification testing combining Form Light SL-100 spray polyurethane insulation with Muedam seismic dampers. Testing confirmed compatibility of thermal insulation retention with seismic performance in actual-scale testing.
• BASF Japan Corporation (BASFジャパン株式会社)coreOthers50% joint venture partner providing global polyurethane technology, research and development capabilities, and international market access. BASF is headquartered in Ludwigshafen, Germany, with approximately 110,000 employees worldwide.
• INOAC Corporation (株式会社イノアックコーポレーション)coreOthers50% joint venture partner and Japan's first polyurethane foam producer (since 1954). Provides local Japanese market expertise, customer relationships, and domestic manufacturing capabilities. Headquartered in Nagoya with 100 group companies worldwide.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• BASF SE: Parent company of BIP (via BASF Japan, 50% owner) and one of the world's largest chemical companies with a global polyurethanes business. Directly comparable in MDI/TDI/polyol production and PU systems, though BIP focuses exclusively on the Japanese market.
• INOAC Corporation: Parent company of BIP (50% owner) and a broader Japanese polyurethane products group (since 1954) with a much wider product range across foams, elastomers, and rubber goods. Comparable as a Japanese PU incumbent with overlapping customers and technology base.

Direct peers

• Covestro AG: Global polyurethane raw materials and systems producer (MDI, TDI, polyols) and a direct competitor to BIP's BM and FS divisions. Comparable in serving automotive and construction PU end-markets with overlapping product portfolios.
• Wanhua Chemical: World's largest MDI producer and a major force in TDI and polyols. Competes directly with BIP in polyurethane raw materials and increasingly in downstream PU systems for construction and automotive.
• Huntsman Corporation: Major producer of MDI, TDI, polyols and polyurethane systems globally. Direct competitor to BIP's raw materials and formulation businesses, particularly in automotive elastomers and rigid foam insulation.
• Mitsui Chemicals: Japanese chemical manufacturer producing polyurethane raw materials and specialty foams. A direct domestic competitor in MDI/TDI and PU systems for automotive, construction, and industrial applications in Japan.
• Stepan Company: North American producer of polyurethane polyols and specialty chemicals, including rigid foam systems. Comparable to BIP's BM division in supplying polyols and other PU raw materials to downstream foam manufacturers.
• Kaneka Corporation: Japanese chemical company producing polyurethane raw materials, foams, and elastomers. Overlaps with BIP across rigid PU foam insulation, automotive interior foams, and specialty polyurethane elastomers.
• JSP Corporation: Japanese manufacturer of expanded polystyrene (EPS) and other foam products, including some PU foam offerings. Comparable as a Japanese foam specialist serving automotive, construction, and packaging markets.

Regional players

• Recticel NV: European polyurethane foam specialist serving automotive, construction, and bedding markets. Comparable in PU foam product portfolio and end-market focus but does not directly compete in Japan, making it a regional rather than direct peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BASF INOAC Polyurethanes