MDI, TDI, and Polyurethane Market by Application, End-use and Region – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global 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), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global MDI, TDI & Polyurethane market is estimated to be USD 77.9 billion in 2021 and is projected to reach USD 105.3 billion by 2026, at a CAGR of 6.2% between 2021 and 2026.

Factors such as compliance with energy regulation, environmental sustainability need, and versatility & unique properties will drive the MDI, TDI & polyurethane market. The major restraint for the market will be toxicity and environmental concern and eco-friendly substitutes. However, increasing demand for bio-based polyurethane will act as an opportunity for the market.

Flexible foam is the largest application for MDI, TDI & polyurethane market in 2020

With flexible polyurethane foams, manufacturers of furniture, bedding, and automotive sectors can address the issues of sustainability and energy conservation more efficiently. Flexible foam is one of the most widely used materials in the bedding & furniture industry. It is mainly used in home & office furniture, bedding, mattresses, pillows, seating, and carpet underlay. Packaging and automotive are other growing end-use industries for flexible foams.

Flexible polyurethane foams help automobile manufacturers with weight reduction, vibration absorption, fuel efficiency, and durability of vehicles. As cushioning materials, flexible polyurethane foams provide support, resiliency, comfort, durability, and handling strength. All of these benefits result in better gas mileage and a more comfortable ride. The demand growth of flexible polyurethane foams is expected to be driven by increasing energy efficiency requirements globally, as the governments and organizations have to comply with international norms and regulations.

Construction is estimated to be the largest end-use industry of Polyurethane market between 2021 and 2026

Polyurethane finds multiple applications in the construction industry. Flexible and semi-rigid foams are used in paints, coatings, and adhesives. These products are extensively used in construction. Rigid foams are widely used as structural and insulation foams in buildings. Construction has the largest share in the polyurethane market. Polyurethane finds high demand for building or remodeling homes, offices, and other buildings. The high demand is backed by its lightweight, ease of installation, durability, reliability, and versatile nature.

The most important application of polyurethane in buildings is insulation. The rigid foam has unique insulating properties that make it ideal for walls and roofs of new homes and remodeling of existing homes. Insulation is usually required in cavity walls, roofs, floors, around pipes, and boilers. Polyurethane is an affordable, durable, and safe method of reducing carbon emissions that lead to global warming. Polyurethane can dramatically reduce heat loss in homes and offices in cold weather. During summer, they play an important role in keeping buildings cool, reducing the need for air conditioning.

APAC is estimated to be the largest MDI, TDI & Polyurethane market during the forecast period, in terms of value and volume

Asia-Pacific is one of the most crucial markets of MDI, TDI, and Polyurethane. In terms of global plastic consumption. Owing to the current economic conditions in mature markets such as the U.S. and Western Europe and rapidly increasing domestic consumption, Asia-Pacific has emerged as the leading produces as well as consumer of MDI, TDI, and polyurethane.

The construction and bedding & furniture sectors of the region have a leading share in the polyurethane market. Transportation, automotive, and footwear manufacturers are setting up or expanding their manufacturing bases in this region to leverage from the low manufacturing cost. China dominates the MDI, TDI, and polyurethane market in Asia-Pacific. The growing construction industry in the country as well as rebound in construction activities are the main drivers for the MDI, TDI, and polyurethane market.

Market Dynamics

Drivers

• Growth in End-use Industries
• Compliance with Energy Regulations
• Environment Sustainability Needs
• Versatility and Unique Properties

Restraints

• Toxicity and Environmental Concerns
• Stringent Regulations by the Governing Bodies
• Eco-Friendly Substitutes

Opportunities

• Phosgene-Free MDI Production
• Increasing Demand for Bio-Based Polyurethane

Challenges

• Fluctuation in the Prices due to High Cost of Raw Materials and Logistics

Companies Mentioned

• Arian Polyurethane JSC
• BASF SE
• Cangzhou Dahua Group Co. Ltd
• Chematur Engineering AB
• Coim S.p.A.
• Covestro AG
• DuPont De Nemours, Inc.
• Fix Holdings Inc.
• Huntsman Corporation
• ITWC Inc.
• Kumho Mitsui Chemicals Inc.
• Kuwait Polyurethane Industries Co.
• Lanxess AG
• Manali Petrochemicals Ltd.
• Mitsui Chemicals Inc.
• Ningbo Best Polyurethane Co. Ltd.
• Recticel
• Shandong Inov Polyurethane Co. Ltd.
• Springfeel Polyurethane Foams Private Limited
• The Dow Chemical Company
• Tosoh Corporation
• Trelleborg AB
• Wanhua Chemicals Group Co. Ltd.
• Woodbridge Foam Corporation

For more information about this report visit https://www.researchandmarkets.com/r/uqcear

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