MDI, TDI, and Polyurethane Market Research Study

Burgeoning urbanization and industrialization, to drive the global MDI, TDI and Polyurethane Market to $XX Billion by 2024.

Polymers are the extremely varied class of products available through biomedical applications, biosensor systems, drug delivery systems, tissue engineering, cosmetics, and many more in all areas of avionics engineering. The applications of polymeric materials and their composites continue to grow quickly, owing to their below-average cost and ease of manufacture. Polyurethane is a polymer manufactured by reacting Toluene diisocyanate (TDI) and methylene diphenyl diisocyanate (MDI) with a polyol. These materials are used primarily in the production of flexible foams and a variety of polyurethane products like elastomers, sealants, adhesives, and coatings.

According to IndustryARC, the MDI, TDI, and Polyurethane market is expected to reach $XX billion by 2024, growing at a CAGR of X%. The MDI, TDI, and Polyurethane industry is being largely driven by growth in the construction industry. In particular, the Asia-Pacific and North America regions are expected to witness rapid growth owing to high investments in construction projects, fueled by strong government support for residential and commercial development.

Polyurethane Market MDI and TDI are versatile isocyanates that can be used to make flexible foams as well as semi-rigid and rigid polyurethane plastics. On a similar note, BASF is offering Ultrasim® simulation tool, for polyurethane systems in automotive interiors, which predicts the behavior of PU systems during foaming for both open and closed molds. For other components such as steering wheels and engine hoods, i.e., for integral and flexible foams, the latest simulation service is presently being used in client projects. Furthermore, the growth of the electronics sector is expected to increase the market, as MDI, TDI, Polyurethane are used in many consumer electronic devices.

 Key Insights on MDI, TDI and Polyurethane Market

· The rigid foams segment is projected to be the fastest-growing segment from 2019 to 2024. The growth is expected to be driven by the increasing demand from residential and commercial construction for the board and laminate insulation and foam roofing.

· The construction segment accounted for the largest market share in 2018, owing to the increasing construction activities in the emerging economies of Asia-Pacific, South America, and Middle East & Africa. The rebound in construction activities in matured markets such as the U.S. and Europe is also expected to drive the market during the forecast period. The most important application of polyurethane in buildings is insulation.

· There is also a growing demand for polyaspartic technology in the industry, owing to its weather-resistant capabilities, Polyaspartic coatings are a logical supplement to fast-setting polyurethane technology.

· A significant influencing factor for polyurethane production is the increasing focus on energy efficiency. Climate change, the increasing mobility, and the necessity for conserving of resources are the main reasons. Especially in the segment of construction, this leads to increased use as insulation. Here, the country-specific measurements of government aid for an increase in energy efficiency is a major influencing factor.

· Asia Pacific accounted for the largest market share, with revenue of $XX billion, in 2018. Moreover, the North American market held a regional share of xx% in the global market. The region has not witnessed any major uptrends for the past few years due to sluggish growth in building construction. Moving ahead, the outlook for both residential and non-residential constructions have improved.

Further, capacity expansions by leading vendors, including BASF SE, Chematur Engineering AB, Lanxess, Covestro AG, DowDuPont, and others will fuel the market growth during the forecast period. MDI, TDI, and Polyurethane manufacturers have utilized mergers and acquisitions (Chematur Technologies AB: acquired by Wanhua Chemical Group Co., Ltd.) to augment entry into related markets and enhance core competencies through additions to product portfolio and leveraging capabilities of acquired companies to gain a foothold in the markets.

MDI, TDI, and Polyurethane market industrial growth was supported by a high rate of construction activity globally. According to the Construction Products Association (CPA), construction output is forecast to remain flat in 2018 before the growth of 2.7% in 2019. Construction expenditure in the U.S. increased by 3.5% in the first quarter of 2019 as compared to 4.5% during the same period in 2018. Similar trends would be followed in the EU, where the rate of construction activity will slow slightly from a 3.5% growth rate in 2018 to a 2.5% growth rate during 2019. The construction market in China and other Asian countries is estimated to continue growing at high rates; although not equal to the growth seen in 2018. On a global basis, the construction market will continue to grow in 2019, but it will not be quite as strong as that in 2018.