PUBLISHER: The Business Research Company | PRODUCT CODE: 1426374
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426374
Methylene diphenyl diisocyanate (MDI)-based polyurethane is a polyurethane material created by utilizing MDI, a diisocyanate compound, as a key raw material. This substance plays a crucial role in the synthesis of polyurethane, where it reacts with polyols to form the polyurethane polymer. Known for its protective and adhesive properties, MDI-based polyurethane finds widespread use in coatings and adhesives across diverse industries.
The primary types of MDI-based polyurethane include mixed monomeric MDI, higher molecular weight species, and other variants. Mixed monomeric MDI involves blending different isomers and oligomers of MDI to create a versatile product used in applications spanning packaging, insulation, automotive, construction, and more. MDI-based polyurethane is employed in various forms such as rigid foam, flexible foam, coatings, adhesives and sealants, elastomers, catering to end-user industries such as automotive, construction, furniture, electronics, packaging, textiles, among others.
The methylene diphenyl diisocyanate (MDI)-based polyurethane market research report is one of a series of new reports from The Business Research Company that provides methylene diphenyl diisocyanate (MDI)-based polyurethane market statistics, including methylene diphenyl diisocyanate (MDI)-based polyurethane industry global market size, regional shares, competitors with methylene diphenyl diisocyanate (MDI)-based polyurethane market share, detailed methylene diphenyl diisocyanate (MDI)-based polyurethane market segments, market trends and opportunities, and any further data you may need to thrive in the methylene diphenyl diisocyanate (MDI)-based polyurethane industry. This methylene diphenyl diisocyanate (MDI)-based polyurethane market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The methylene diphenyl diisocyanate (mdi)-based polyurethane market size has grown strongly in recent years. It will grow from $19.5 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The observed growth in the historic period for MDI-based polyurethane can be attributed to several factors. These include the growth in the construction industry, expansion of the automotive sector, increased manufacturing of consumer goods, consumer preferences for comfort in various products, and regulatory support for insulation materials. These factors collectively contributed to the historical growth of MDI-based polyurethane, making it a significant material in various industrial applications.
The methylene diphenyl diisocyanate (mdi)-based polyurethane market size is expected to see steady growth in the next few years. It will grow to $24.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated growth in the forecast period for MDI-based polyurethane is expected to be driven by various factors. These include the increasing demand for sustainable and bio-based polyurethanes, growth in electronics manufacturing, ongoing infrastructure development, rapid urbanization, and the expanding medical device manufacturing sector. Additionally, major trends in the forecast period are expected to include digitalization in manufacturing processes, increased investments in research and development, a focus on sustainability and green chemistry practices, advancements in MDI production technology, and a growing market for customization and specialty products. These trends collectively indicate a dynamic and evolving landscape for MDI-based polyurethane applications.
The expansion in the manufacture of lightweight vehicles is anticipated to drive the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market in the future. Lightweight vehicles, which aim to enhance fuel efficiency and vehicle performance, are increasingly employing MDI-based polyurethane due to its versatile characteristics that combine durability and lightweight properties. For instance, data from the Federal Reserve Board in August 2023 showed a surge in the industrial production of light trucks in the US, reaching 9.73 million units from 8.30 million units in 2022, signifying the potential growth of this market segment.
The rise in the construction industry is expected to propel the future growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market. This industry, encompassing various activities related to building infrastructure and facilities, extensively uses MDI-based polyurethane in insulation, flooring, roofing, and other applications. Its adaptability and distinct properties make it a popular choice within the construction sector. For example, reports from Oxford Economics in September 2021 indicated a projected increase of 42%, approximately $4.5 trillion, in global construction output between 2020 and 2030, reaching a total of $15.2 trillion, emphasizing its potential impact on the MDI-based polyurethane market.
Environmental concerns are poised to impede the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market in the coming years. The ecological impact arising from the production, usage, and disposal of MDI-based polyurethane products has led to substantial regulatory challenges and environmental worries. The disposal of polyurethane is particularly concerning, as it releases numerous hazardous compounds into the environment. For instance, data from Elsevier, published in 2021, highlighted the Asia Pacific region and the United States as contributors to approximately half of the global polyurethane waste, totaling 24.72 million metric tons, indicating the challenges posed by environmental concerns to the MDI-based polyurethane market.
Major players in the methylene diphenyl diisocyanate (MDI)-based polyurethane market are directing their efforts towards developing innovative solutions, such as climate-neutral MDI, to drive their market competitiveness. Climate-neutral MDI, a derivative of methylene diphenyl diisocyanate, is characterized by a net-zero carbon footprint achieved in its production process at the factory level. For example, in February 2022, Covestro AG, a German-based polyurethane manufacturer, introduced climate-neutral MDI. This specific MDI variant is utilized in combination with polyurethane rigid foam, enabling the creation of highly efficient building insulation materials that find applications across construction, cold chain, and automotive sectors. Covestro AG also employs plant waste in the production process of climate-neutral MDI, contributing to the reduction of carbon emissions.
In June 2022, Covestro AG, forged a partnership with Pearl Polyurethane Systems LLC, a chemical and polyurethane foam manufacturer based in the United Arab Emirates. This collaboration underscores Covestro AG's objective to offer climate-neutral MDI grades as raw materials specifically tailored for use in construction, cold chain, and automotive applications. This joint venture amplifies Covestro AG's commitment to providing sustainable solutions and enhancing the availability of climate-neutral MDI within key market segments.
Major companies operating in the methylene diphenyl diisocyanate (mdi)-based polyurethane market report are Mitsui Chemicals Inc., BASF SE, The Dow Chemical Company, Wanhua-BorsodChem, Wanhua Chemical Group Co. Ltd., Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Sika AG, Tosoh Corporation, Huntsman Corporation, Sadara Chemical Company, Trelleborg AB, Woodbridge Foam Corporation, Recticel N.V., PCC Rokita SA, Vencorex, Coim Group Srl, Chematur Engineering AB, Kumho Mitsui Chemicals Co. Ltd., Lanxess AG, Karoon Petrochemical Company, Green View Technology and Development Co. Ltd., Shandong Chemichase Chemical Co. Ltd, Shandong INOV Polyurethane Co. Ltd., Springfeel Polyurethane Foams Private Limited, HeBei KuaiXin Biotechnology Co. Ltd, Qingdao Exceed Fine Chemicals Co.Ltd., Ningbo Best Polyurethane Co. Ltd.
North America was the largest region in the methylene diphenyl diisocyanate (MDI)-based polyurethane market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the methylene diphenyl diisocyanate (mdi)-based polyurethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the methylene diphenyl diisocyanate (mdi)-based polyurethane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The methylene diphenyl diisocyanate (MDI)-based polyurethane market consists of sales of elastomers, insulation panels, and medical devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on methylene diphenyl diisocyanate (MDI)-based polyurethane market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for methylene diphenyl diisocyanate (MDI)-based polyurethane? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The methylene diphenyl diisocyanate (MDI)-based polyurethane market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.