Global methylene diphenyl diisocyanate (MDI) market is expected to grow over the forecast period owing to increasing utilization in rigid polyurethane foam production which are further used in various industries such as construction, insulation, refrigeration and packaging. MDI demand is also anticipated to rise over next seven years due to its application in adhesives, sealants, elastomers, coatings and binders. Growing end-use industries are expected to fuel the MDI market over the forecast period. Increasing number of isocyanate containing products consumption is expected to fuel MDI demand over the forecast period. Increasing polyurethane demand is expected to drive the MDI market over the forecast period. Unique features and functional versatility of the product is anticipated to augment MDI market over the forecast period. Excessive exposure to MDI causes skin & respiratory tract irritation, asthma and dermatitis, which is anticipated to restrain MDI market over the forecast period. Increase in raw material prices due to crude oil dynamics are also expected to hold back market growth over next seven years.
Polyurethanes are manufactured by reacting isocyanates with polyols and one of the important isocyanates utilized for production are methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI). Polyurethane occurs in two types that are polyurethane elastomers and polyurethane foams. Foams can be categorised rigid and flexible and these foams have applications in various industries such as bedding, automotive and furniture, thus creating product demand. MDI chemicals are used in certain commercial and consumer applications such as transportation products, rubber& plastic products, paints & coatings, lubricants, fuel additives and greases. Apart from conventional uses as commercial applicators to insulate roofs and walls of buildings, they have other applications such as, arts arena sculpture, mould making and for designing movie and theatre sets. Polyurethane coatings are used for seal concrete, waterproof walls and refinish floors.
Asia Pacific region is expected to witness highest methylene diphenyl diisocyanate demand over the forecast period. MDI market in the region is anticipated to grow on account of escalation in demand in emerging countries such as China and India. MDI demand in China is expected to rise due to availability of low cost raw material labour & land and moderately stringent regulatory framework. Growing end use industries such as construction, electronics and automotive is also believed to drive the MDI market in the region over the forecast period. Europe is estimated to be the second largest MDI market. Harsh weather condition in the region is anticipated to drive market over next seven years in the form of insulation agent. Stringent environment protection regulations prevailing in the region are expected to restrain the MDI market over the forecast period. North America is also expected to witness sluggish growth over the forecast period.
Market participants are carrying out research & development activities to produce bio based products, complying with environment protection regulations so as to increase product demand in North America and Europe. R&D is also being conducted to explore new applications. This is expected to create opportunities for the market players over next seven years. Efforts are also being taken to develop substitute raw materials so as to develop eco-friendly MDI. This is expected to propel the market over the forecast period. Increasing efforts towards increasing market penetration in nascent markets such as Middle East & Africa and Central & South America is expected to provide opportunities to the market players.
Major market players operating 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. and Jilin Connell Chemical Industry Co. Ltd.
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