Asia-Pacific Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market, By Type (Toluene Diisocyanate (TDI), Methylene Diphenyl Diisocyanate (MDI)), Raw Material (Crude Oil, Natural Gas, Toluene, Benzene, Nitric Acid, Methanol, Chlorine, Others), Application (Polyurethane Foam, Polyurethane Elastomers, Polyurethane Adhesives and Sealants, Polyurethane Coatings, Others), End Use (Footwear, Furniture, Automotive, Building And Construction, Home Appliances, Textile, Healthcare, Electrical and Electronics, Packaging, Industrial Machinery, Others) – Industry Trends and Forecast to 2029.
Market Analysis and Size
Over the last few years, there has been immense growth in the building and construction, industry. Additionally, there has been strong development across the automotive and consumer goods industries, which have significantly contributed to the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market. The market is estimated to show the same growth pace over the forecasted period.
Asia-Pacific Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market was valued at USD 13056.65 million in 2021 and is expected to reach USD 21608.7 million by 2029, registering a CAGR of 6.50% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Polyurethane is a thermoplastic polymer that is composed of organic units that are joined together via carbamate links. These are manufactured in the form of rigid and flexible foam and are used in a wide range of commercial and industrial applications. Methylenediphenyl diisocyanate (MDI) is a polyurethane utilized in various applications, including stiff polyurethane foams for home and refrigerator insulation. Toluene diisocyanate (TDI) is a chemical that is used to make polyurethanes, which are largely employed in flexible foam applications such as beds and furniture, carpet underlay, and packaging.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Toluene Diisocyanate (TDI), Methylene Diphenyl Diisocyanate (MDI)), Raw Material (Crude Oil, Natural Gas, Toluene, Benzene, Nitric Acid, Methanol, Chlorine, Others), Application (Polyurethane Foam, Polyurethane Elastomers, Polyurethane Adhesives and Sealants, Polyurethane Coatings, Others), End Use (Footwear, Furniture, Automotive, Building And Construction, Home Appliances, Textile, Healthcare, Electrical and Electronics, Packaging, Industrial Machinery, Others)
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Countries Covered
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Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific
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Market Players Covered
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Dupont (U.S.), SOLVAY (Belgium), DAIKIN (Japan), Dow (U.S.), Huntsman International LLC (U.S.), Bostik (France), H.B. Fuller Company (U.S.), Sika AG (Switzerland), Cardolite Corporation (U.S.), Kukdo Chemical Co., Ltd., (South Korea), BASF SE(Germany), Freudenberg SE (Germany), Covestro AG (Germany), LANXESS (Germany), Mitsui Chemicals Inc. (Japan), Wanhua (China), Arkema (France), Hexion (U.S.) and Woodbridge (Canada)
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Market Opportunities
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Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand Across End Users
The growing utilization of the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethanes across the building and construction industry, where it is used in various household, commercial, and industrial applications and also owing to its excellent strength-to-weight ratio, insulation properties, durability, and versatility. The increased utilization further boosts the market growth.
The versatility and unique physical properties of polyurethane products coupled with the easy raw material accessibility will further propel the growth rate of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market. Additionally, the increase in new households, rapid urbanization, and growth in disposable income are other market growth determinants projected to bolster the market's growth.
Opportunities
- Sustainable and Bio-based Products and Compliance
Furthermore, the rising government spending on sustainable building development combined with the compliance with environment protection regulations extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the research and development activities by the manufacturers to produce bio-based products will further expand the future growth of the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market.
Restraints/Challenges
- Fluctuations In The Prices
The fluctuations in the prices of crude oil will create hindrances for the growth of the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market.
- Environmental Risks
Also, the environmental risks associated with polyurethane products are estimated to prove as a demerit for the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market. Therefore, this will challenge the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market growth rate.
Moreover, the high exposure to methylene diphenyl diisocyanate (MDI) causes skin and respiratory tract irritation, asthma and dermatitis, which is also expected to hamper growth of the global methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market.
This methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market
The recent outbreak of coronavirus had a negative impact on the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market. The building and construction, automobile, and consumer goods industries are all heavily reliant on the market. The emergence of COVID-19 caused a major drop in demand for construction equipment in the first quarter of 2020. The severe disruptions in various manufacturing, as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease, led to huge financial setback for the market. Moreover, the consumer demand has largely decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.
On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the market is estimated to expand.
Asia-Pacific Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market Scope
The methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market is segmented on the basis of type, raw material, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Toluene Diisocyanate (TDI)
- Methylene Diphenyl Diisocyanate (MDI)
Raw Material
- Crude Oil
- Natural Gas
- Toluene
- Benzene
- Nitric Acid
- Methanol
- Chlorine
- Others
Application
- Polyurethane Foam
- Polyurethane Elastomers
- Polyurethane Adhesives and Sealants
- Polyurethane Coatings
- Others
End Use
- Footwear
- Furniture
- Automotive
- Building and Construction
- Home Appliances
- Textile
- Healthcare
- Electrical and Electronics
- Packaging
- Industrial Machinery
- Others
Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market Regional Analysis/Insights
The methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market is analysed and market size insights and trends are provided by country, type, raw material, application and end use as referenced above.
The countries covered in the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Polyurethane Market Share Analysis
The methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market.
Some of the major players operating in the methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyurethane market are
- Dupont (U.S.)
- SOLVAY (Belgium)
- DAIKIN (Japan)
- Dow (U.S.)
- Huntsman International LLC (U.S.)
- Bostik (France)
- H.B. Fuller Company (U.S.)
- Sika AG (Switzerland)
- Cardolite Corporation (U.S.)
- Kukdo Chemical Co., Ltd., (South Korea)
- BASF SE (Germany)
- Freudenberg SE (Germany)
- Covestro AG (Germany)
- LANXESS (Germany)
- Mitsui Chemicals Inc. (Japan)
- Wanhua (China)
- Arkema (France)
- Hexion (U.S.)
- Woodbridge (Canada)
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