MDI Based Polyurethane Market - Forecasts from 2019 to 2024

The global MDI based polyurethane market was valued at US$21.249 billion in 2018 and is estimated to grow at a substantial rate during the forecast period. Methylenediphenyl diisocyanate (MDI) is a chemical used in the production of polyurethanes for many applications. It is majorly used in the production of rigid polyurethane foam used for providing insulation in buildings, refrigerators, and other applications. Burgeoning demand for energy efficient buildings is playing an important role in the augmented demand for this material since they are energy efficient. Growing regulation related to the energy conservation on commercial buildings in both developed and developing countries is driving the MDI based polyurethane market growth. Geographically, Asia Pacific is expected to grow at a good rate due to growing industrialization and construction activities in the region.

Drivers

Rising investments in Green buildings
Burgeoning building and construction activities in emerging regions

Restraints

Fluctuation in petroleum prices

Industry Update

In April 2019, BASF SE launched the second phase of its production capacity for MDI at its Geismar, Louisiana.

In October 2018, Covestro AG invested $1.7 billion in MDI so as to strengthen its position in MDI globally

The major players profiled in the global MDI based polyurethane market include Covestro AG, BASF SE, The Dow Chemical Company, Huntsman International LLC, Tosoh Corporation, Wanhua Chemical Group Co., Ltd., Mitsui Chemicals, Inc., Karoon Petrochemical Company, KUMHO MITSUI CHEMICALS CORP., BorsodChem.

Segmentation

The global MDI based polyurethane market has been analyzed through the following segments:

By Application
Rigid Foam
Flexible Foam
CASE (Coatings, Adhesive, Sealants, and Elastomers)

By End-User Industry
Building and Construction
Automotive
Retail

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others