Global MDI, TDI, Polyurethane Market To Expand Substantially By 2026

May 11, 2022

According to the industry analysis report titled ‘Global MDI, TDI, Polyurethane Market (Value, Volume) - Analysis By Type (MDI, TDI), Application (Flexible Foams, Rigid Foams, Coatings, Others), End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global MDI, TDI, polyurethane market, which generated revenues worth USD 67.3 billion in 2020, is estimated to expand exponentially by 2026.

Mounting number of new households, rising average construction spending, surging government expenditure on sustainable building development, rapid urbanization, and growing disposable income are some of the major factors driving the growth of the global MDI, TDI, polyurethane market.

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The overall market is witnessing lucrative growth on account of growing demand for MDI, TDI, and polyurethane in the building & construction sector where it is used in various commercial, household, and industrial applications due to its excellent weight ratio, durability, insulation properties, and versatility.

However, the COVID-19 outbreak has disrupted the global supply chain which in turn has impacted the building & construction, consumer goods, & automotive industry, even the demand for construction equipment had significantly declined at the beginning of 2020, thus acting as a major bottleneck for the overall market growth

Worldwide MDI, TDI, polyurethane industry is fragmented in terms of type, application type, end-user spectrum, and regional contribution.

Based on type, the market is fragmented into Toluene Diisocyanate (TDI) and Methylenediphenyl diisocyanate (MDI).

Moving on to application scope, the market is segmented on the basis of rigid foams, flexible foams, coatings, and others.

The end-user reach of this business domain include including construction, furniture & interiors, automotive, electronic appliances, and others.

Geographically, Asia-Pacific is estimated to capture the largest market share in the ensuing years,  owing to availability of skilled labor, widespread raw material accessibility, and regional government support.

The leading companies operating in the global MDI, TDI, polyurethane market are Dow Chemical Company, Covestro AG, BASF SE, DuPont de Nemours Inc., Huntsman Corporation, Wanhua Chemical Group Co. Ltd., Mitsui Chemicals Inc., and Woodbridge Foam Corporation.

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