Global Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Methylene diphenyl diisocyanate (MDI)-based polyurethane is a type of polyurethane material synthesized using MDI, a chemical compound that belongs to the family of diisocyanates, as a raw ingredient. It is a crucial component of polyurethane synthesis as it combines with polyols to create the polyurethane polymer. It is widely used as a coating and adhesive in various industries because of its protective and bonding properties.

Sizing and Forecast

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 growth in the historic period can be attributed to growth in construction industry, expansion of automotive sector, increased consumer goods manufacturing, consumer preference for comfort, regulatory support for insulation materials..

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 growth in the forecast period can be attributed to sustainable and bio-based polyurethanes, growth in electronics manufacturing, infrastructure development:, rapid urbanization, medical device manufacturing.. Major trends in the forecast period include digitalization in manufacturing, investments in research and development, sustainability and green chemistry, advancements in mdi production technology, customization and specialty products..

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Segmentation & Regional Insights

The methylene diphenyl diisocyanate (mdi)-based polyurethane market covered in this report is segmented –

1) By Type: Mixed Monomeric MDI, Higher Molecular Weight Species, Other Types
2) By Application: Rigid Foam, Flexible Foam, Coatings, Adhesives And Sealants, Elastomers, Other Applications
3) By End-User Industry: Automotive, Construction, Furniture, Electronics, Packaging, Textile, Other End User Industries

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

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Major Driver Impacting Market Growth

The increased production of lightweight vehicles is expected to propel the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market going forward. Lightweight vehicles refer to vehicles designed and constructed to be as light as possible in weight as associated with the automotive industry to increase fuel efficiency, reduce emissions, and improve the performance of vehicles. The MDI-based polyurethane is an attractive choice for producing lightweight vehicles due to its versatility, combining lightweight properties with durability for various automotive components and applications. For instance, in August 2023, according to the Federal Reserve Board, a US-based central banking system, the industrial production of light trucks in the US increased from 8.30 million units in 2022 to 9.73 million units in July 2023. Therefore, the increased production of lightweight vehicles will drive the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market.

Key Industry Players

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.

The methylene diphenyl diisocyanate (mdi)-based polyurethane market report table of contents includes:

1. Executive Summary
2. Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Characteristics
3. Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Trends And Strategies
4. Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market – Macro Economic Scenario
5. Global Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Size and Growth
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32. Global Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Competitive Benchmarking
33. Global Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market
35. Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Future Outlook and Potential Analysis
36. Appendix