Increase in application of Methylene Diphenyl Diisocyanate (MDI) in construction, packaging, refrigeration, and insulation is boosting the growth of the market.
Market Size – USD 28.74 Billion in 2018, Market Growth - CAGR of 4.8%, Market Trends –
Rising demand from construction and paint industries.
NEW YORK, April 23, 2019 (GLOBE NEWSWIRE) -- The Global Methylene Diphenyl Diisocyanate (MDI) Market is forecasted to reach USD 42.41 Billion by 2026, according to a new report by Reports and Data.
MDI is generally used to manufacture rigid polyurethane foams which find its application in consumer electronics, insulators, packaging, industrial and other applications. It is also utilized in non-foam applications like paints & coating, elastomers, and adhesives & sealants. Increase in demand for MDI in end-use industries is fueling its demand. Products containing a high number of isocyanate is forecasted to fuel the market of MDI. MDI’s functional versatility and unique features are forecasted to encourage the growth of the market.
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The Asia Pacific region is forecasted to witness the highest growth in the coming years. The escalation in demand from emerging nations like China and India will contribute towards the growth of the market. Demand from China is forecasted to grow owing to the availability of cheap labor and land, and moderate regulatory framework. Growing end-user industries like automotive, construction, and electronics are forecasted to drive the market.
Further key findings from the report suggest
- MDI finds its application in the insulation of roofs and walls of buildings, arts arena sculpture, designing movie and theatre sets and mold making.
- The market is segmented on the basis of Applications into rigid foam, flexible foam, coatings, elastomers, adhesives and sealants, and others.
- Rigid Foam dominates the methylene diphenyl diisocyanate (MDI) market. It holds a market share of 21% in the year 2018. These foams have application in insulation and are also used during the manufacturing process of refrigerators and freezers, automotive and buildings.
- PU rigid foams are the leading material used to insulate major appliances like freezers, refrigerators, vending machines, and hot water heaters.
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- Adhesives and Sealants hold a market share of 15% in the year 2018 while coatings have the highest growth rate of 5.6% throughout the forecast period.
- Expansion of automotive has also encouraged the growth of the market. It holds a market share of 21% in the year 2026.
- The market is segmented on the basis of raw materials into crude oil, aniline, propylene, and benzene. Benzene holds a market share of 22% in the year 2018.
- Crude oil is a crucial raw material for MDI. It holds a market share of 27% in the year 2018. Fluctuation in the prices of crude oil and Benzene has led to a rise in the prices of MDI.
- The market is segmented on the basis of raw materials into Polymeric MDI, Pure MDI, and Modified MDI.
- Harsh weather condition is forecasted to drive the market. Europe holds a market share of 22% in the year 2018.
- R&D is being carried out by the market players to increase the demand for the product in Europe and North America. Efforts are also being taken to develop substitute raw materials so as to make MDI eco-friendly.
- Key participants include BASF SE, Covestro, DowDuPont, Huntsman Corp, Everchem Specialty Chemicals, Jilin Connell Chemical Industry Co. Ltd., Kumho Mitsui Chemicals, Lanxess, Sadara Chemical Company, Tosoh, among others.
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For the purpose of this report, Reports and Data have segmented the global Methylene Diphenyl Diisocyanate (MDI) Market on the basis of Type, Raw Material, Applications, End-User Industry, and Region:
Types Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- Polymeric MDI
- Pure MDI
- Modified MDI
Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- Crude Oil
- Propylene
- Aniline
- Benzene
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- Rigid Foam
- Flexible Foam
- Coatings
- Elastomers
- Adhesives and Sealants
- Others
End User Industry Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- Construction
- Furniture & Interiors
- Electronics & Appliances
- Automotive
- Footwear
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- U.S.
- Europe
- UK
- France
- UK
- Asia Pacific
- China
- India
- Japan
- China
- MEA
- Latin America
- Brazil
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