The global MDI based polyurethane market was valued at US$21.249 billion in 2018 and is estimated to grow at a substantial rate during the forecast period. Methylenediphenyl diisocyanate (MDI) is a chemical used in the production of polyurethanes for many applications. It is majorly used in the production of rigid polyurethane foam used for providing insulation in buildings, refrigerators, and other applications. Burgeoning demand for energy efficient buildings is playing an important role in the augmented demand for this material since they are energy efficient. Growing regulation related to the energy conservation on commercial buildings in both developed and developing countries is driving the MDI based polyurethane market growth. Geographically, Asia Pacific is expected to grow at a good rate due to growing industrialization and construction activities in the region.
Rising investments in Green buildings
Burgeoning building and construction activities in emerging regions
Fluctuation in petroleum prices
In April 2019, BASF SE launched the second phase of its production capacity for MDI at its Geismar, Louisiana.
In October 2018, Covestro AG invested $1.7 billion in MDI so as to strengthen its position in MDI globally
The major players profiled in the global MDI based polyurethane market include Covestro AG, BASF SE, The Dow Chemical Company, Huntsman International LLC, Tosoh Corporation, Wanhua Chemical Group Co., Ltd., Mitsui Chemicals, Inc., Karoon Petrochemical Company, KUMHO MITSUI CHEMICALS CORP., BorsodChem.
The global MDI based polyurethane market has been analyzed through the following segments:
CASE (Coatings, Adhesive, Sealants, and Elastomers)
By End-User Industry
Building and Construction
Middle East and Africa