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MDI, TDI & Polyurethane Market to Reach USD 90.34 Bn by 2021: MarketsandMarkets

Published on 2017-03-17. Author : SpecialChem

MarketsandMarkets has published new report "MDI, TDI, and Polyurethane Market by Application (Flexible Foams, Rigid Foams, Paints & Coatings, Elastomers, Adhesives & Sealants), End-Use (Construction, Furniture & Interiors, Electronics & Appliances, Automotive, Footwear) - Global Forecast to 2021", which reveals the market for MDI, TDI, and polyurethane is projected to grow from an estimated USD 69.28 Billion in 2016 to USD 90.34 Billion by 2021, at a CAGR of 5.45%.

MDI, TDI & Polyurethane Market to Reach USD 90.34 Bn by 2021
MDI, TDI & Polyurethane Market to Reach USD 90.34 Bn by 2021

Emerging Economies Drive Market

The market is mainly driven by the growth in emerging economies, especially China and India. The growth in the emerging economies is backed by the increased demand from automotive, transportation, and construction applications, as well as technological and infrastructural developments.

Rigid Foams Segment

The rigid foams segment is projected to be the fastest-growing segment from 2016 to 2021. The growth is expected to be driven by the increasing demand from residential and commercial construction for board and laminate insulation and foam roofing.

Construction Segment

The construction segment accounted for the largest market share in 2015, 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.

Asia Pacific Region

The Asia-Pacific region to play a key role in the growth of the market for MDI, TDI, and polyurethane.

Based on region, the MDI, TDI, and polyurethane market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia-Pacific region is a key market for MDI, TDI, and polyurethane. Development in the economies and the rapid growth in the construction, electronics, and automotive industry in this region have led to the high growth of this market. Many automotive and footwear manufacturers are setting up or expanding their manufacturing bases in this region to benefit from the low manufacturing cost.

The key players in the MDI, TDI, and polyurethane market include BASF SE (Germany), The Dow Chemical Company (U.S.), Covestro AG (Germany), Huntsman Corporation (U.S.), Mitsui Chemicals, Inc. (Japan), E.I. du Pont de Nemours & Company (U.S.), Chemtura Corporation (U.S.), Wanhua Chemicals Group Co., Ltd. (China), Woodbridge Foam Corporation (Canada), and Chematur Engineering AB (Sweden).

About MarketsandMarkets

MarketsandMarkets is one of the largest market research firms worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. It specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in the reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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Source: MarketsandMarkets
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