Metric analysis

Global Diphenylmethane Diisocyanate (MDI) Market to Reach 8.7 Million Metric Tons by 2026

Editing: 17; Published: February 2022
Executive Pool: 3487
Companies: 21 – Players covered include BASF SE; Covestro SA; DHALOP CHEMICALS; Huntsman International LLC; Karoon Petrochemical Company; Kumho Mitsui Chemicals Corporation; Lanxess AG; Merck KGaA; Redox Pty Ltd. ; Sadara Chemical Company; TCI Chemicals Pvt. ltd. ; The Dow Chemical Company; Tosoh Company; Wanhua Chemical Group Co., Ltd. and others.
Blanket: All major geographies and key segments
segments: Application (Rigid Foams, CASE System, Flexible Foams, Other Applications); End use (construction, automotive, furniture and interiors, electronics and appliances, footwear, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of the world.

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Global Diphenylmethane Diisocyanate (MDI) Market to Reach 8.7 Million Metric Tons by 2026
Methyldiphenyl diisocyanate (MDI) is one of the raw materials used in the production of polyurethanes. After experiencing a slowdown in 2020 under the impact of the COVID-19 crisis, demand for metered-dose inhalers is expected to recover in 2021, driven by improvements in key end-use sectors including construction and construction, furniture and bedding, packaging and automotive. The resurgence of the construction sector and the increased demand for lightweight and fuel-efficient vehicles are expected to drive the growth of the polyurethane foam market, thereby accelerating the demand for MDI. In the building and construction industry, the adoption of polymeric foams is supported by its increasing use for insulation purposes. Produced using MDI, these foams are widely used in refrigerators and homes for insulation applications, allowing users to save on cooling and heating costs which account for approximately 48% of energy consumption. energy of an average household in the United States. The growing focus on sustainability is also expected to drive the demand for green building materials such as environmentally friendly polymer foams. Automotive is another important end-use market, with polyurethane foams being used in a wide variety of applications such as cables, gaskets, upholstery and headliners.

Amid COVID-19 Crisis, Global Diphenylmethane Diisocyanate (MDI) Market estimated at 6.7 Million Metric Tons in 2022 is expected to reach a revised size of 8.7 Million Metric Tons by 2026 , growing at a CAGR of 5.5% over the analysis period. Rigid Foams, one of the segments analyzed in the report, is expected to register a CAGR of 6.1% and reach 5 million metric tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and induced economic crisis, CASE System segment growth is readjusted to a revised CAGR of 5.2% for the next 7-year period. Rigid foams, which are the biggest market for MDI, are mainly used in insulation, packaging, refrigeration and construction. CASE urethanes (coatings, adhesives, sealants and elastomers) are widely used in the construction, furniture and automotive industries. Additional use also comes from textiles, fibers, electronics and machinery.

The growing preference for energy-efficient home appliances is expected to support the demand for PU foam, as the material is used for insulation applications in many of these appliances, especially refrigerators. The United States is one of the largest home appliance markets in the world, accounting for around 16.5% of total global sales in 2019. With around 96.5% of households already owning a range of home appliances such as vacuum cleaners, refrigerators, washing machines and microwave ovens, the American market is almost saturated. However, the growth of household appliances in the United States will be driven by technological improvements in the coming years.

In addition to product innovations, the energy efficiency of home appliances is a major factor influencing the buying decisions of US customers. Growing environmental concerns and an emphasis on energy conservation are encouraging the US government to impose strict energy efficiency regulations, which in turn is driving the demand for energy-efficient home appliances. For example, the government passed a federal energy law that sets energy efficiency standards for dishwashers and clothes washers used in homes. In addition, the bill incorporates certain limits on the water needs of these devices and also sets energy standards for dehumidifiers. In addition, government stimulus measures in the form of consumer tax benefits reducing energy consumption by 50% are expected to further increase the demand for energy efficient appliances in the near future.

The US market is estimated at 1.2 million metric tons in 2022, while China is expected to reach 2.7 million metric tons by 2026
The diphenylmethane diisocyanate (MDI) market in the United States is estimated at 1.2 million metric tons in 2022. China, the world’s second largest economy, is expected to reach a projected market size of 2.7 million metric tons by 2026 growing at a CAGR of 6.3% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.8% and 4.7% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 4.9%. Asia Pacific represents the main regional market, driven by the rapidly expanding building and construction and industrial sectors. Rising automobile sales, rapid urbanization trend, and emphasis on major infrastructure development initiatives are also supporting the growth of the market.

The flexible foam segment will reach 1 million metric tons
Flexible polyurethane foams find application in automobiles and housing, in addition to other durable goods. Due to their high impact resistance, flexible foams find wide use in furniture upholstery. Moreover, they are also used in mattresses and seat cushions, especially in more expensive furniture. In the global flexible foam segment, United States, Canada, Japan, China and Europe will drive the CAGR of 4.6% estimated for this segment. These regional markets representing a combined market size of 603.7 thousand metric tons will reach a projected size of 825.2 thousand metric tons by the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific is expected to reach 153.4 thousand metric tons by 2026, while Latin America will grow at a CAGR of 4.8% over the analysis period. Continued

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