“Increasing scope in end-use industries such as automotive, appliances, and construction, across the globe to drive the market for MDI, TDI, and polyurethane”
The global market for MDI, TDI, and polyurethane is projected to grow from an estimated USD 69.28 billion in 2022 to USD 90.34 billion by 2031, at a CAGR of 5.45%.
The increased use of polyurethane is boosted by the fact that they are recyclable, safe, and environment-friendly. It is also used as in insulation in various electronics & appliances and buildings. Increased energy efficiency needs drive the demand for polyurethane-based materials which are expected to grow at a very high growth rate in the coming years. However, increasing environmental concerns and eco-friendly substitutes such as epoxy-based coatings may restrain the growth of the market.
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“The flexible foams segment to gain a major share during the forecast period”
The flexible foams segment is projected to hold the largest share in the MDI, TDI, and polyurethane market during the next five years. This large share is attributed to the energy efficiency requirements globally, as the governments and organizations have to comply with international norms and regulations. Flexible polyurethane foams help the manufacturers to address issues such as weight reduction, vibration absorption, fuel efficiency, and durability.
“Asia-Pacific region accounted for the largest market share in 2022”
The market for MDI, TDI, and polyurethane is segmented based on regions into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific accounted for the largest share of the total demand generated by the global MDI, TDI, and polyurethane market in 2022, and is also projected to grow at the highest CAGR between 2022 and 2031. This growth is due to the growth in the economies and the rapid growth of the major end-use industries such as construction, furniture & interiors, automotive, and electronics.
Breakdown of primaries:
Primary interviews were conducted with several industry experts to collect data related to different aspects of the MDI, TDI, and polyurethane market. The distribution of primary interviews is as follows:
• By Company: Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
• By Designation: C level – 21%, Director level – 23%, and Others – 56%
• By Region: North America – 30%, Europe – 18%, Asia-Pacific – 41%, and South America and Middle East & Africa – 11%
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The various companies supplying MDI, TDI, and polyurethane and related products are as follows:
• BASF SE (Germany)
• The Dow Chemical Company (U.S.)
• Covestro AG (Germany)
• Huntsman Corporation (U.S.)
• Mitsui Chemicals, Inc. (Japan)
• E.I. du Pont de Nemours & Company (U.S.)
• Chemtura Corporation (U.S.)
• Wanhua Chemicals Group Co., Ltd. (China)
• Woodbridge Foam Corporation (Canada)
• Chematur Engineering AB (Sweden)
This report segments the market for MDI, TDI, and polyurethane by application, end-use industry, and region, and provides the estimations for the overall value of the market and its subsegments across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product & technology launches, mergers & acquisitions, partnerships, agreements, joint ventures, and other recent developments in the market.
REASONS TO BUY THE REPORT:
This report will help the leaders/new entrants in this market in the following ways:
• To analyze and have a better understanding of the MDI, TDI, and polyurethane market
• To provide them information on key market drivers, restraints, challenges, and opportunities
• To gain more insights regarding their competitors and their position in the market
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