New Jersey, NJ, Jan. 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Methylene Diphenyl Diisocyanate (MDI) market is expected to grow from USD 31.22 Billion in 2018 to USD 48.25 Billion by 2026 at a CAGR of 5.7% during the forecast period 2019-2026. Rising adoption of polyurethane foam for insulations and rising number of isocyanate containing products use is likely to spur the growth of the market.
Methylenediphenyl diisocyanate (MDI) is defined as a type of aromatic isocyanate that has wide application base in large-scale commercial and consumer sector. For the production of MDI, the condensation of aniline is done with formaldehyde to form methylenedianiline (MDA), which gets reacted with phosgene to form MDI. It is generally used to produce 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.
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Global Methylene Diphenyl Diisocyanate (MDI) Market Key Findings:
- Rising adoption of polyurethane foam for insulations has stimulated the growth. Growing number of isocyanate containing products use is also stimulating the growth of the market. But strict shipping rules and regulations for Methylene Diphenyl Diisocyanate (MDI) may pose a major threat to the product.
- However, growing initiatives for expansion of Methylene Diphenyl Diisocyanate (MDI) production capacity is likely to propel the growth of the market globally in the coming years. The rise in raw material prices due to crude oil dynamics is the major challenge for the market.
- Methylene Diphenyl Diisocyanate (MDI) are high production volume chemicals that are predominantly used in the production of polyurethanes. In 2008, the U.S. demand for pure MDI was 192.1 million pounds and for polymeric Methylene Diphenyl Diisocyanate (MDI) was 1,418 million pounds (ACC, 2009). The Methylene Diphenyl Diisocyanate (MDI) has low acute toxicity via the oral and dermal routes, but is considered toxic via the inhalation route in animals. It may causes skin, eye, and lung irritation, progressive impairment of lung function with long-term inhalation exposure and is a respiratory sensitizer via both the dermal and inhalation routes of exposure in animals.
- The end user industry segment is segmented into construction, furniture and interior, electronics and appliances, automotive, footwear and other end-user industries. The construction segment is dominating the global Methylene Diphenyl Diisocyanate (MDI) market with the highest share in 2018. Methylene Diphenyl Diisocyanate’s (MDIs) are highly used by building and construction industry in various household, commercial, and industrial applications including rubber& plastic products, transportation products, lubricants, fuel additives, paints & coatings, and grease.
- The application segment is segmented into rigid foam, flexible foam, coating, elastomer, adhesive and sealant and other applications. The rigid foam segment is dominating the global Methylene Diphenyl Diisocyanate (MDI) market with the highest share in 2018 due to their good thermal insulation properties. The rigid foam are used in insulation and in manufacturing process of refrigerators and freezers, automotive and buildings. They have several significant environmental benefits, including increased energy efficiency and reduced project weight. Given the widespread use of rigid PU foam in construction, these savings are multiplying at an increasing rate, worldwide.
- The regions analysed for the global Methylene Diphenyl Diisocyanate (MDI) market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Europe region dominated the global Methylene Diphenyl Diisocyanate (MDI) market with USD 13.54 Billion in 2018 where as the Asia Pacific region is growing rapidly in the market.
- Europe region is dominating the market due to harsh weather condition in the region which is expected to drive the market growth in the form of insulation agent. Also, market participants are carrying out research & development activities to produce biobased products, complying with environment protection regulations so as to increase product demand in the region.
- Asia Pacific is anticipated to grow rapidly owing to an increase in demand from emerging economies such as China and India. MDI demand in China is expected to rise due to the availability of low-cost raw material labor & land and moderately stringent regulatory framework. Growing end-use industries such as construction, electronics and automotive are also believed to drive the MDI market in the region.
- For instance, in April 2019, BASF is investing €70 million in US expansion. BASF SE will proceed with the second phase of its production expansion for methylene diphenyl diisocyanate (MDI) at its Geismar chemical complex.
- For instance, in 2018, Shengxiang Polyurethane Polymer Material built a 15 kilo metric ton/year polyurethane flexible foam plant in Meishan, Sichuan province. This new production capacity, along with the growing demand for polyurethane, will maintain China’s position as the leader in the MDI market.
- Key players in the global Methylene Diphenyl Diisocyanate (MDI) market are The Dow Chemical Company, Bayer Material Science, BASF SE, Du Pont de Nemours and Company, Sumitomo Chemical Co., Ltd., Wanhua Chemical Group Co. Ltd., Jilin Connell Chemical Industry Co. Ltd., and among others.
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global Methylene Diphenyl Diisocyanate (MDI) market on the basis of below mentioned segments:
Global Methylene Diphenyl Diisocyanate (MDI) Market, By End User Industry:
- Construction
- Furniture and Interior
- Electronics and Appliances
- Automotive
- Footwear
- Other End-user Industries
Global Methylene Diphenyl Diisocyanate (MDI) Market, By Application:
- Rigid Foam
- Flexible Foam
- Coating
- Elastomer
- Adhesive and Sealant
- Other Applications
Global Methylene Diphenyl Diisocyanate (MDI) Market, By Regions:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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