MDI, TDI, and Polyurethane Market worth $105.3 billion by 2026 Globally, at a CAGR of 6.2%, says MarketsandMarkets™
Chicago, Aug. 29, 2023 (GLOBE NEWSWIRE) — The MDI, TDI, and Polyurethane Market size is projected to reach USD 105.3 billion by 2026 from USD 77.9 billion in 2021, at a CAGR of 6.2% between 2021 and 2026 as per the recent study by ™. Growing investments in precious metals in emerging countries of Asia Pacific, low recycling rates of e-waste, and refining through bio-metallurgy, are the key opportunities for the precious metals e-waste recovery market.
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List of Key Players in MDI, TDI, and Polyurethane Market:
- Shell Plc. (Netherlands)
- BASF SE (Germany)
- The Dow Chemical Company (US)
- DuPont De Nemours, Inc. (US)
- Huntsman Corporation (US)
- Covestro AG (Germany)
- LANXESS AG (Germany)
- Mitsui Chemicals Inc. (Japan)
- Wanhua Chemical Group Co. Ltd. (China)
- Woodbridge Foam Corporation (Canada)
Drivers, Opportunities and Challenges in MDI, TDI, and Polyurethane Market:
- Drivers: Compliance with energy regulations
- Restraint: Toxicity and environmental concerns
- Opportunity: Phosgene-free MDI production
Key Findings of the Study:
- Rigid Foams is projected to be fastest-growing application for MDI, TDI & Polyurethane market between 2021 and 2026
- Electronic & appliances is projected to be the fastest-growing end-use industry in polyurethane market between 2021 and 2026.
- APAC projected to be fastest growing region for the MDI, TDI & Polyurethane market during the forecast period
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Based on application, the MDI, TDI & Polyurethane market is segmented as rigid foam, flexible foam, paints & coatings, elastomers, adhesives & sealants, and others. Flexible foam accounted for the largest share in this segment. With flexible polyurethane foams, manufacturers of furniture, bedding, and automotive sectors can address the issues of sustainability and energy conservation more efficiently. Flexible foam is one of the most widely used materials in the bedding & furniture industry. It is mainly used in home & office furniture, bedding, mattresses, pillows, seating, and carpet underlay. Packaging and automotive are other growing end-use industries for flexible foams. Flexible polyurethane foams help automobile manufacturers with weight reduction, vibration absorption, fuel efficiency, and durability of vehicles. As cushioning materials, flexible polyurethane foams provide support, resiliency, comfort, durability, and handling strength. All of these benefits result in better gas mileage and a more comfortable ride. The demand growth of flexible polyurethane foams is expected to be driven by increasing energy efficiency requirements globally, as the governments and organizations have to comply with international norms and regulations.
Based on end-use industry, the polyurethane market has been segmented into footwear, automotive, construction, furniture & interior, electronics & appliances and others. Construction accounted for the largest share. Polyurethane finds multiple applications in the construction industry. Flexible and semi-rigid foams are used in paints, coatings, and adhesives. These products are extensively used in construction. Rigid foams are widely used as structural and insulation foams in buildings. Construction has the largest share in the polyurethane market. Polyurethane finds high demand for building or remodeling homes, offices, and other buildings. The high demand is backed by its lightweight, ease of installation, durability, reliability, and versatile nature. The most important application of polyurethane in buildings is insulation. The rigid foam has unique insulating properties that make it ideal for walls and roofs of new homes and remodeling of existing homes. Insulation is usually required in cavity walls, roofs, floors, around pipes, and boilers. Polyurethane is an affordable, durable, and safe method of reducing carbon emissions that lead to global warming. Polyurethane can dramatically reduce heat loss in homes and offices in cold weather. During summer, they play an important role in keeping buildings cool, reducing the need for air conditioning.
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On the basis of region, APAC is projected to be the largest market for MDI, TDI & Polyurethane during the forecast period. Asia-Pacific is one of the most crucial markets of MDI, TDI, and Polyurethane. In terms of global plastic consumption. Owing to the current economic conditions in mature markets such as the U.S. and Western Europe and rapidly increasing domestic consumption, Asia-Pacific has emerged as the leading produces as well as consumer of MDI, TDI, and polyurethane. The construction and bedding & furniture sectors of the region have a leading share in the polyurethane market. Transportation, automotive, and footwear manufacturers are setting up or expanding their manufacturing bases in this region to leverage from the low manufacturing cost. China dominates the MDI, TDI, and polyurethane market in Asia-Pacific. The growing construction industry in the country as well as rebound in construction activities are the main drivers for the MDI, TDI, and polyurethane market.
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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com
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