The global methylene diphenyl diisocyanate market is expected to grow over the forecast period owing to increasing utilization in rigid polyurethane foam production which is further used in various industries such as construction, insulation, refrigeration, and packaging. Methylene diphenyl diisocyanate (MDI) demand is also anticipated to rise over the next seven years due to its application in adhesives, sealants, elastomers, coatings, and binders. Growing end-use industries are expected to fuel the market over the forecast period. An increasing number of isocyanate-containing product consumption is expected to fuel MDI demand over the forecast period. Increasing polyurethane demand is expected to drive the market over the forecast period. Unique features and functional versatility of the product is anticipated to augment the market over the forecast period. Excessive exposure to MDI causes skin & respiratory tract irritation, asthma, and dermatitis, which is anticipated to restrain the MDI market over the forecast period. An increase in raw material prices due to crude oil dynamics is also expected to hold back market growth over the next seven years.
Polyurethanes are manufactured by reacting isocyanates with polyols and one of the important isocyanates utilized for production is methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI). Polyurethane occurs in two types that are polyurethane elastomers and polyurethane foams. Foams can be categorized 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, mold 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 the 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 the availability of low-cost raw material labor & land and moderately stringent regulatory framework. Growing end-use industries such as construction, electronics, and automotive are also believed to drive the methylene diphenyl diisocyanate market in the region over the forecast period. Europe is estimated to be the second-largest market. The harsh weather condition in the region is anticipated to drive the market over the next seven years in the form of insulation agent. Stringent environment protection regulations prevailing in the region are expected to restrain the 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 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 market players over the next seven years. Efforts are also being taken to develop substitute raw materials 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 the 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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