Press release
Global Methylene Diphenyl Diisocyanate (MDI) Market is expected to grow at a CAGR of 5.7% during the forecast period from 2019-2026
Global Methylene Diphenyl Diisocyanate (MDI) Market 2019, Global Methylene Diphenyl Diisocyanate (MDI) Market Growth,
Methylene DiphenylDiisocyanate (MDI) Market by End User Industry (Construction, Furniture and Interior, Electronics and Appliances, Automotive, Footwear and Others),Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019to 2026.
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Leaders in the industry include The Dow Chemical Company, Bayer Material Science, BASF SE, Du Pont de Nemours and Company, Sumitomo Chemical Co., Ltd., Wanhua Chemical Group Co. Ltd. and Jilin Connell Chemical Industry Co. Ltd among many others which are offering greater opportunities and major players are continuously focusing on new product developments and venture capital investments to obtain the market share.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.
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 market with the highest share of 30.10% in 2018. MDIs are highly used by building and construction industryin various household, commercial, and industrial applications.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 market and valued aroundUSD 10.02 Billion in 2018. These foams 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.
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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. Butstrict shipping rules and regulations for MDI may pose a major threat to the product. However, growing initiatives for expansion of MDI production capacity is likely to propel the growth of the market globallyin the coming years.
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