Kathiawad Today

Methylene Diphenyl Di-Isocyanate Market Size Forecast to Reach US$ 6.1 Billion by 2027

 Breaking News
  • No posts were found

Methylene Diphenyl Di-Isocyanate Market Size Forecast to Reach US$ 6.1 Billion by 2027

May 07
04:55 2022
Methylene Diphenyl Di-Isocyanate Market Size Forecast to Reach US$ 6.1 Billion by 2027
Methylene Diphenyl Di-Isocyanate Market | IndustryARC
The Growing Usage of the MDI for Electronic Goods Production Is Driving the Methylene Diphenyl Di-isocyanate Market

Methylene Diphenyl Di-Isocyanate market size is forecast to reach US$ 6.1 billion by 2027 after growing at a CAGR of 5.0% during 2022-2027 owing to the growing demand for polyurethane foam in the construction sector. Methylene Diphenyl Di-Isocyanate (MDI) is an aromatic diisocyanate reacting with aniline and placing isocyanate in its fourth position called 4,4’-MDI. It is most often used in the chemical production of polyurethane foams widely used as insulators in the construction sector. According to Global Construction Perspectives and Oxford Economics, the Global construction sector is expected to grow by US$ 8 trillion by 2030 driven by China, the US, and India. The volume of construction output is forecasted to grow by 85% to US$15.5 trillion worldwide by 2030, with three countries like China, the US, and India and accounting for 57% of global growth. It is also used in non-foam applications like paints and coating, elastomers, and adhesives and sealants, and other related products which are acting as a driver for the growth of the MDI market during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has impacted the global economy directly affecting the supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Currently, due to the COVID-19 pandemic, the core industries such as the construction, transportation sectors have been highly impacted. According to the Automotive industry association’s September 2021 outlook, there has been a 7.7% decline in the production of commercial vehicles and a 24.7declineed in motor vehicles as compared to the September 2020 outlook. There has been a sharped decline in the revenue of the different industries. The government and private sectors are taking necessary action to recover the loss of different industries which will help in the growth of the MDI market.

Methylene Diphenyl Di-Isocyanate Market Segment Analysis – By Product Type

The Pure MDI segments accounted for approximately 32% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The increasing demand for pure Methylene Diphenyl Di-Isocyanate in construction, automotive, paints & coating are driving the market. The Pure MDI is merged with polyols to obtain the products like sealants, adhesives, coating, Umbilicals, Rollers and centralizers, Others. According to British Coatings Federation, In 2019, US$ 403.92 billion has been spending in the United Kingdom on paint, printing inks, and wallcoverings which are widely used in the construction, home improvement, printing, automotive, aerospace, and other advanced manufacturing sectors are driving the market for pure Methylene Diphenyl Di-Isocyanate during the forecast period.

For More Information About Methylene Diphenyl Di-Isocyanate Market @

https://www.industryarc.com/Research/Methylene-Diphenyl-Di-Isocyanate-Market-Research-503179

Report Price: $ 4500 (Single User License)

Methylene Diphenyl Di-Isocyanate Market Segment Analysis – By Application

The rigid form segment accounted for more than 18% of the market share in 2021 and is estimated to grow significantly during the forecast period. The increasing demand for good thermal insulation and flexibility properties of rigid foams in the manufacturing of refrigerators, building, and automotive applications, are boosting the growth of the market. The rigid polyurethane foam is also used in insulated panels, wall & roof insulation, and gap fillers will increase its accessibility in the global market. According to US International Trade Administration, the U.S. consumer goods market was around US$ 635 billion in 2019. Therefore, the growing demand for consumer goods will increase the demand for Methylene Diphenyl Di-Isocyanate during the forecast period.

Methylene Diphenyl Di-Isocyanate Market Segment Analysis – By End-use Industry

The Construction segment accounted for more than 26% of the market share in 2021 and is estimated to grow significantly during the forecast period. According to the Associated General Contractors of America(AGC), Constructor is a major contributor to the US economy and US$ 1.4 Trillion is invested every year in the construction industry with an enrollment of 7 million employees. The Polymeric MDIs are used in manufacturing rigid and semi-rigid polyurethane foam which are widely used in construction panels, polymeric concrete components, seal nuts, and other insulating material. Therefore Construction segment will contribute to the growth of the Methylene Diphenyl Di-Isocyanate Market.

Methylene Diphenyl Di-Isocyanate Market Segment Analysis – By Geography

Asia Pacific region held the largest share in the Methylene Diphenyl Di-Isocyanate market in 2021 up to 38%, owing to the presence of a large amount of construction activity in this region. The growing commercial and presential construction project in the countries like China, South Korea, Japan, and India due to the increasing population driving the market growth in the region. According to Global Construction Perspectives and Oxford Economics, the global construction market is estimated to grow US$ 8 trillion by 2030 driven by China, US, and India. The increasing demand for MDI in Automotive, electronic appliances, furniture, and other are also helping in the growth of the Methylene Diphenyl Di-Isocyanate Market in this region during the forecast period.

Methylene Diphenyl Di-Isocyanate Market Drivers:

Growing Demand for Polyurethane MDI in Automotive

The methylene diphenyl diisocyanate (MDI) is widely used in the Automotive sector as interior parts for cushioning and insulation purposes in headrests, armrests, seats, and others. According to the China Association of Automobile Manufacturers, The production and sales of new energy vehicles have increased to 11.6% from January 2021 to September 2021. Therefore the growing demand for energy-efficient vehicles is driving the Polyurethane MDI during the forecast period.

Increasing demand for MDI in Electrical and Electronic

The Electrical and Electronic sector showed significant growth owing to increase demand for electronic appliances like refrigerators, air conditioners, washing machines, smartphones, television, and many more across the globe. The growing usage of the MDI for Electronic goods production is driving the Methylene Diphenyl Di-Isocyanate market during the forecast period. According to Invest India, the global electronic is estimated at around US$ 2 Trillion and India is the largest contributor holding US$ 118 Billion of Electronic Market and is estimated to reach US$ 125 Billion by 2025. Therefore, the growing electronic market will boost the Methylene Diphenyl Di-Isocyanate market between 2022-2027.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=503179

Methylene Diphenyl Di-Isocyanate Market Challenges:

Growing Environment concern due to usage of Methylene Diphenyl Di-Isocyanate

Environmental concern has always been a major challenge in the Methylene Diphenyl Di-Isocyanate market. The increasing demand for eco-friendly products is restraining the growth Methylene Diphenyl Di-Isocyanate market. It is highly toxic to the environment, especially to aquatic life forms like fish and crustaceans. Excessive exposure to MDI causes skin & respiratory tract irritation, asthma, and dermatitis, which is restraining the MDI market during the forecast period. The other factor to restrain the MDI Market is the increasing price of raw materials like crude oil. The fluctuation in the prices of raw materials and growing environmental concerns are restraining the market growth.

Methylene Diphenyl Di-Isocyanate Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Methylene Diphenyl Di-Isocyanate market. The Major players in the Methylene Diphenyl Di-Isocyanate 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.,
Jilin Connell Chemical Industry Co. Ltd.
Huntsman Corporation
Kumho Mitsui Chemicals
Tosoh Corporation
Everchem Specialty Chemicals
Sadara Chemical Company
Other Companies

Recent Development

In December 2020, the first phase of construction of MDI capacity expansion project in Geismar, Louisiana has been completed and is into operation and BASF targets to double the capacity from 300,000 metric tons per year to approximately 600,000 metric tons per year into two phases of construction. The second phase construction activity is underway is expected to complete by end of 2021

Key Takeaways

The Asia Pacific is expected to register a CAGR of 6.5% during the forecast period (2022-2027). The increasing construction activities in Asian countries such as China, India, Japan, and South Korea are driving the market demand for Methylene Diphenyl Di-Isocyanate.

Growing electrical & electronics industry with consumption of domestic appliances like Air Conditioners, Refrigerators, washing machines, kitchen stoves and many more is driving the market growth the methylene diphenyl di-isocyanate market in between the forecast period.

The growing automotive sector is helping in the growth of the Methylene diphenyl diisocyanate (MDI) market due to its usage in Hybrid and Electric Vehicles, Powertrain and Chassis, Interior & Exterior parts by providing protection, comfort, and energy conservation

Relevant Reports

Isocyanates Market

https://www.industryarc.com/Report/16150/isocyanates-market.html

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/