This project is still on target for mid-2022. Margins held up well.
But I think that you'll see a more fulsome retail recovery by that point. And if I could just follow-up geographically on the Polyurethanes business. And I think that affected consumer sentiment. Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. You may begin.Thank you, Laura, and good morning, everyone. So real positive trends here, as Peter said, in automotive, in construction and insulation.And our furniture business, mattresses have been selling like hotcakes in North America, particularly over Amazon and Internet sales, we've seen a very significant uptick in our viscoelastic foam business. I don't want to say we're averse to adding more pounds. Our people-centered company offers incredible opportunities for those prepared to take responsibility for their future.We see chemistry as a means of solving some of the most pressing societal challenges of our time. We still expect to spend approximately $175 million in total to construct MDI splitter at our Geismar, Louisiana site, that will provide us meaningfully more flexibility to further expand a mix of higher-margin differentiated products within our North American business.
This leaves me to believe that we are seeing a real recovery, that while we may still have a long road ahead of us, that we are coming off the bottom. It's very helpful.Our next question comes from the line of Aleksey Yefremov with KeyBanc Capital Markets. I think that you might see some component price improvement in Europe, where we're trying to push for some price improvements. You may proceed with your question.In your construction businesses, did June and July benefit from pent-up demand that accumulated during the shutdowns? I think it's just going to be a grind forward and upward. Huntsman Corp. is a leading maker of chemical products that include polyurethanes, amines, surfactants, adhesives, resins, dyes, and inks. But I'll just say that as we look about what I would say are some of our stronger areas and areas of concern when I look at year-over-year second quarter. But clearly, as I alluded to in my script, the lion's share of that entire margin variance does come from Polyurethanes, and it does come from that polymeric end of the equation, that kind of 1/3 portion of the business that we sell that has much more less resilience in terms of pricing in the downstream. Looks like Covestro's pushed back some projects and IHS is now showing some longwall projects also pushed back.
We have about $500 million of debt coming due, and it's callable in January. Are you expecting any major MDI capacity to come online from now until the end of 2021?No. Company Participants. But I think that of all of our areas of concern within the business, I think that that's probably the one where I have the most pessimism.And I think about footwear, I think about apparel, I think about even oilfield services. In North America, our fastest-growing business is our relatively new spray polyurethane foam insulation business that we have recently rebranded to be Huntsman Building Solutions, a global leader in spray polyurethane foam insulation. I'm curious, can you speak to the forward-looking outlook for the insulation growth, in particular, and sort of compare and contrast what you expect there in residential versus some of the challenges you mentioned in non-res on the office side?Yes. And as a result, we estimate a related incremental cost of nearly $5 million during the second half of 2020 as we approximate right size the inventory. Turning now to Slide 9.
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