Segmented By Type (Polymeric MDI, Pure MDI & Modified MDI), By Application Type (Rigid Foams, Flexible Foams, CASE Systems & Others), By End-use Industry (Electronic Appliances, Building & Construction, Transportation & Others) By Region, and Competition.
New York, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Methylene Diphenyl Diisocyanate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" - https://www.reportlinker.com/p06377481/?utm_source=GNW
Global Methylene Diphenyl Diisocyanate Market is projected to grow at an impressive rate through 2028 due to increasing demand from construction industry. China’s construction work sector is growing steadily, reaching a total output value of around USD 3.71 trillion in 2021.
The manufacturing of rigid polyurethane foam, used in various industries, including construction, insulation, refrigeration, and packaging, is predicted to increase demand for methylene diphenyl diisocyanate over the forecast period.For the forecast, expanding end-use industries are anticipated to drive the market.
Demand for MDI is anticipated to be driven by rising isocyanate-containing product usage throughout the projected period.For the forecast period, rising polyurethane demand is anticipated to fuel the market.
Throughout the projection period, the product’s distinctive features and practical adaptability are expected to grow the market. The MDI market is expected to be constrained over the forecast period since excessive exposure to MDI can cause dermatitis, asthma, and rashes on the skin and respiratory tract.
Due to the rising demand for electronic products, including refrigerators, air conditioners, washing machines, cellphones, televisions, and many more, the electrical and electronic sectors experienced tremendous growth.During the anticipated period, the Methylene Diphenyl Di-Isocyanate market will be driven by MDI’s expanding use in electronic goods production.
The global electronic market is worth over US$ 2 trillion, with India accounting for the highest share with a market worth US$ 118 billion and projected to grow to US$ 125 billion by 2025, according to Invest India. Therefore, between 2022 and 2028, the Methylene Diphenyl Di-Isocyanate market will experience growth due to the expanding electronic market.
Growing Demand of Polyurethane
Methylene diphenyl diisocyanate is one of the primary isocyanates used in synthesizing polyurethanes, which are produced by reacting isocyanates with polyols (MDI).There are two different varieties of polyurethane: polyurethane elastomers and polyurethane foams.
Both stiff and flexible foams have uses in various industries, including mattresses, automobiles, and furniture, which leads to a market for the products.MDI chemicals are employed in several industrial and consumer applications, including those involving transportation, rubber and plastic products, paints and coatings, lubricants, and greases.
In addition to their common functions as commercial applicators to insulate building walls and roofs, they can also be used to create molds, create sculptures for art exhibitions, and design movie and theater sets.Concrete, walls, and floors can all be waterproofed and sealed with polyurethane coatings.
One of the most often used uses for PUs in building and construction is protective coatings. They are used in creating many industrial and consumer goods, including wood flooring, basements, structures, and bridges.
Growing Demand from Automotive Industry
In headrests, armrests, seats, and other interior components, cushioning and insulation, are developed with the help of polyurethane, which is manufactured via methylene diphenyl diisocyanate (MDI). The China Association of Automobile Manufacturers reports that between January 2021 and September 2021, production and sales of new energy cars climbed by 11.6%. Therefore, the polyurethane MDI will be driven by the rising demand for energy-efficient automobiles during the projection period.
• In February 2022, Covestro AG launched a climate-neutral MDI. Covestro used alternative raw materials based on plant waste assigned to the products with the aid of certified mass balancing by ISCC PLUS to make the new MDI climate neutral. Numerous applications in the construction, cold chain, and automotive industries are possible for the new MDI grades.
• In April 2021, Kumho Mitsui Chemicals Inc. increased the manufacturing capacity of its facility in Yeosu, Jeonnam, South Korea, from 410,000 tonnes per year to 610,000 tonnes per year, an increase of 200,000 metric tonnes per year (m.t./yr) of MDI.
The global Methylene Diphenyl Diisocyanate market is segmented by type, by application type, and by end use.Based on type, the market is segmented into polymeric MDI, pure MDI & modified MDI.
Based on application type, the market is segmented into rigid foams, flexible foams, case systems & others. Based on end use, the market is segmented into electronic appliances, building & construction, transportation & others.
Wanhua Chemical Group Co. Ltd., Covestro AG, DowDuPont Inc., Kumho Mitsui Chemicals Inc., Tosoh Corporation, BASF SE, Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Wanhua-BorsodChem, and Sadara Chemical Company are some of the key market players.
In this report, Global Methylene Diphenyl Diisocyanate Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Global Methylene Diphenyl Diisocyanate market, by type:
o Polymeric MDI,
o Pure MDI
o Modified MDI
• Global Methylene Diphenyl Diisocyanate market, by application type:
o Rigid Foams
o Flexible Foams
o CASE Systems
• Global Methylene Diphenyl Diisocyanate Market, by end use industry:
o Electronic Appliances
o Building & Construction
• Global Methylene Diphenyl Diisocyanate Market, by region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies in Global Methylene Diphenyl Diisocyanate Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06377481/?utm_source=GNW
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