Press release
Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Global Market Expected to Reach $24.17 Billion By 2028 with CAGR of 4.2%
Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market
The Business Research Company presents an extensive market research report on the Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The methylene diphenyl diisocyanate (mdi)-based polyurethane market size has grown strongly in recent years. It will grow from $19.5 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to growth in construction industry, expansion of automotive sector, increased consumer goods manufacturing, consumer preference for comfort, regulatory support for insulation materials..
The methylene diphenyl diisocyanate (mdi)-based polyurethane market size is expected to see steady growth in the next few years. It will grow to $24.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to sustainable and bio-based polyurethanes, growth in electronics manufacturing, infrastructure development:, rapid urbanization, medical device manufacturing.. Major trends in the forecast period include digitalization in manufacturing, investments in research and development, sustainability and green chemistry, advancements in mdi production technology, customization and specialty products..
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Key Market Players:
Mitsui Chemicals Inc., BASF SE, The Dow Chemical Company, Wanhua-BorsodChem, Wanhua Chemical Group Co. Ltd., Asahi Kasei Corporation, Covestro AG, DuPont de Nemours Inc., Sika AG, Tosoh Corporation, Huntsman Corporation, Sadara Chemical Company, Trelleborg AB, Woodbridge Foam Corporation, Recticel N.V., PCC Rokita SA, Vencorex, Coim Group Srl, Chematur Engineering AB, Kumho Mitsui Chemicals Co. Ltd., Lanxess AG, Karoon Petrochemical Company, Green View Technology and Development Co. Ltd., Shandong Chemichase Chemical Co. Ltd, Shandong INOV Polyurethane Co. Ltd., Springfeel Polyurethane Foams Private Limited, HeBei KuaiXin Biotechnology Co. Ltd, Qingdao Exceed Fine Chemicals Co.Ltd., Ningbo Best Polyurethane Co. Ltd. are prominent players in the industry.
Market Drivers:
The increased production of lightweight vehicles is expected to propel the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market going forward. Lightweight vehicles refer to vehicles designed and constructed to be as light as possible in weight as associated with the automotive industry to increase fuel efficiency, reduce emissions, and improve the performance of vehicles. The MDI-based polyurethane is an attractive choice for producing lightweight vehicles due to its versatility, combining lightweight properties with durability for various automotive components and applications. For instance, in August 2023, according to the Federal Reserve Board, a US-based central banking system, the industrial production of light trucks in the US increased from 8.30 million units in 2022 to 9.73 million units in July 2023. Therefore, the increased production of lightweight vehicles will drive the growth of the methylene diphenyl diisocyanate (MDI)-based polyurethane market.
More Information About The Global Methylene Diphenyl Diisocyanate (MDI)-Based Polyurethane Market Report -
https://www.thebusinessresearchcompany.com/report/methylene-diphenyl-diisocyanate-mdi-based-polyurethane-global-market-report
Market Segments Include:
1) By Type: Mixed Monomeric MDI, Higher Molecular Weight Species, Other Types
2) By Application: Rigid Foam, Flexible Foam, Coatings, Adhesives And Sealants, Elastomers, Other Applications
3) By End-User Industry: Automotive, Construction, Furniture, Electronics, Packaging, Textile, Other End User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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