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Diphenylmethane Diisocyanate Market

Diphenylmethane Diisocyanate (MDI) Market Size Analysis, By Product Type (Monomeric, Polymeric & Modified MDI), By Application (Rigid, Flexible, Coatings, Elastomers, Adhesives & Sealants), By End-use Industry (Construction, Automotive, Footwear, Others) - Global Market Insights 2022 to 2032

Diphenylmethane Diisocyanate (MDI) Market Outlook (2022-2032)

The market for diphenylmethane diisocyanate (MDI) at US$ 27.8 billion in 2022 and forecasts it to surpass US$ 45 billion by the end of 2032. Worldwide sales of MDI products are anticipated to increase at a CAGR of 5% over the next ten years.

Rising demand for polyurethane in several industries such as automotive, furniture, and packaging is anticipated to be a major prospect that will drive the demand for diphenylmethane diisocyanate over the coming years since it is used for polyurethane foam production.

Diphenylmethane diisocyanate is also used to manufacture rigid polyurethane foams for home insulation and refrigeration since it allows better energy conservation. Increasing adoption of pure MDI in the coatings and sealants industry vertical is also expected to play a crucial role in overall market development over the coming years.

Increasing demand for eco-friendly diphenylmethane diisocyanate (MDI) products, rising use in the construction industry, growing investments in research and development of new materials, and rising adoption of MDI products in automotive applications are other factors that will favor market expansion in the long run.

On the flip side, excessive exposure to diphenylmethane diisocyanate glue and other MDI products could lead to skin irritation, allergies, and breathing difficulties if inhaled. Ingestion of MDI could also lead to nausea, vomiting, and a burning sensation in the digestive tract. These health risks are expected to have a constraining effect on market evolution in the long run. Moreover, fluctuations in raw material pricing and shortage of chemicals to produce this particular aromatic diisocyanate are also expected to impede the sales growth of diphenylmethane diisocyanate products.

Demand for diphenylmethane diisocyanate in the Asia Pacific region is anticipated to be significant over the coming years owing to rising investments in infrastructure development and increasing focus on the growing manufacturing sector in prime economies such as India, Japan, and China.

The market for diphenylmethane diisocyanate in China is expected to be an especially rewarding one owing to robust automotive manufacturing and the presence of an extensive manufacturing sector that utilizes MDI products. Demand for diphenylmethane diisocyanate products in China is projected to increase at 6.5% CAGR through 2032.

This latest diphenylmethane diisocyanate industry research analysis by Fact.MR, a market research and competitive intelligence provider, provides a detailed account of all key prospects, opportunities, challenges, and restraints affecting market development over the coming years.

Report Attributes

Details

Diphenylmethane Diisocyanate Market Size (2022)

US$ 27.8 Billion

Projected Market Value (2032F)

US$ 45.3 Billion

Global Market Growth Rate (2022-2032)

5% CAGR

United States Market Volume (2022)

1.4 Million Metric Tons

Rigid Foams Segment Growth Rate (2022-2032)

6.1% CAGR

Canada Market Growth Rate (2022-2032)

4.7% CAGR

China Market Volume (2032F)

3.2 Million Metric Tons

Key Companies Profiled

  • BASF SE
  • Huntsman International LLC
  • Bayer
  • Jilin Connell Chemical Industry Co.
  • Karoon Petrochemical Company
  • Lanxess AG
  • Kumho Mitsui Chemicals Corporation
  • Covestro AG
  • Sumitomo Chemical Company Limited
  • Sadara Chemical Company
  • TCI Chemicals Pvt. Ltd.
  • The Dow Chemical Company
  • Tosoh Corporation
  • Merck KGaA
  • Redox Pty Ltd.

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How Can New Companies Make a Mark in the MDI Market?

“New Market Entrants Could Focus on Product Innovation & Collaborations to Make a Space for Themselves”

Upcoming diphenylmethane diisocyanate companies could focus on investing in the research and development of novel products to create a space for themselves in the global diphenylmethane diisocyanate (MDI) market. Start-ups could collaborate with other established market players to understand and expand their business scope and also could explore new start-up incubation programs that could help them establish their business model in the best way possible.

  • In May 2022, BASF SE, a German multinational chemical organization announced the launch of its new hub program in collaboration with AHK Romania (Chamber of Commerce & Industry Romanian-German). The program is aimed to bring together new companies and innovators from eleven Southeast and Central European nations to serve as a launching pad for new businesses by providing guidance and financial assistance.

Diphenylmethane diisocyanate market forecast by Fact.MR

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Country-wise Insights

Which is the Most Bankable Market for MDI in the North American Region?

“United States MDI Market to Have Bright Outlook”

The market for methylene diphenyl diisocyanate in the United States is currently the biggest in the North American region and is expected to maintain a similar position across the forecast period as well. The rapid adoption of polyurethane foams and other MDI products in several industries such as automotive, construction, and electronics is expected to be a prime factor driving market growth in this region.

Moreover, the presence of key manufacturers and supportive government funding to bolster the manufacturing sector are other factors that drive the market potential in this country. The United States market for diphenylmethane diisocyanate in 2022 accounts for a volume of around 1.4 million metric tons.

Why Could Japan Prove to Be an Opportune Market for Diphenylmethane Diisocyanate Suppliers?

“Robust Automotive Production in Japan”

Japan is home to some of the most prominent automotive manufacturers in the world and this is expected to be a prime factor that generates key business opportunities for manufacturers of diphenylmethane diisocyanate products. Moreover, the presence of prominent chemical manufacturing companies in the country is also expected to supplement sales of MDI products over the next ten years. Investments in infrastructure development in the country are also expected to pave new opportunities for methylene diphenyl diisocyanate suppliers in Japan.

Sales of diphenylmethane diisocyanate in Japan are anticipated to increase at 4.8% CAGR from 2022 to 2032. The market for diphenylmethane diisocyanate in Korea is also expected to evolve by the presence of similar factors that incite market growth in Japan.

Which European Countries are Remunerative Markets for MDI Manufacturers?

“Germany & United Kingdom Expected to be Prime European Markets”

The presence of key automotive manufacturers such as BMW, Mercedes, Volkswagen, Fiat, Audi AG, etc., in Germany, makes it a highly attractive market for MDI products. The market for diphenylmethane diisocyanate in Germany is set to evolve at 4.9% CAGR through 2032. The growing use of polyurethane foams in the automotive industry is a key factor that is expected to govern market potential in the European region.

The United Kingdom is also expected to see rewarding business opportunities owing to the increasing use of polyurethane foams in several industry verticals and supportive government initiatives to strengthen the country’s weak economic stance.

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Category-wise Insights

How is Rising Demand for Polyurethane Foams Shaping Market Expansion?

“Increasing Use of Polymeric MDI to Produce Polyurethane Foams”

Based on product, the market for diphenylmethane diisocyanate is segmented into polymeric MDI, modified MDI, and monomeric MDI.

Demand for polymeric diphenylmethane diisocyanate accounts for a dominant market share and is projected to maintain a similar stance throughout the forecast period as well. Increasing demand for rigid, flexible, and semi-rigid polyurethane foams is anticipated to drive polymeric MDI over the coming years. Increasing use of these polyurethane foams in several industries such as automotive, furniture, carpets, home insulation, etc., is also expected to bolster market potential in the future.

Demand for rigid foams is anticipated to progress at a CAGR of 6.1% over the next ten years. Meanwhile, sales of flexible foams are slated to rise at 4.5% CAGR from 2022 to 2032.

How is Sustainability Shaping the Future of Companies in the Diphenylmethane Diisocyanate Market?

Owing to the rapid climatic changes and increased awareness among the general population, it has become necessary for all companies to provide sustainable and eco-friendly products to keep their business afloat and this is shaping up the MDI market in a unique way as well.

Key players in the diphenylmethane diisocyanate industry are focusing on launching new eco-friendly and sustainable products to meet their high demand and focusing on reducing their carbon footprint to gain a sustainable reputation in the marketplace.

  • In February 2022, BASF, a leading chemical manufacturing company based in Germany announced the expansion of its portfolio of pure methylene diphenyl diisocyanate by launching Lupranat ZERO. The Lupranat ZERO is a greenhouse gas-neutral aromatic isocyanate launched to add sustainability to its polyurethane value chain.
  • In February 2022, Covestro, a prominent name in the chemical industry announced the launch of climate-friendly MDI for use in industry verticals such as automotive, construction, and cold-chain. The new MDI is produced at the company’s Krefeld-Uerdingen, Antwerp, and Shanghai plants, which are ISCC PLUS-certified.

Segmentation of MDI Industry Research

  • By Product Type:

    • Monomeric MDI
    • Polymeric MDI
    • Modified MDI
  • By Application:

    • Rigid Foams
    • Flexible Foams
    • Coatings
    • Elastomers
    • Adhesives & Sealants
    • Other Applications
  • By End-use Industry:

    • Construction
    • Furniture & Interiors
    • Automotive
    • Electronics & Appliances
    • Rubber & Plastics
    • Footwear
    • Other Industries
  • By Region:

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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Currently, the market for diphenylmethane diisocyanate is valued at US$ 27.8 billion.

By 2032, the market for diphenylmethane diisocyanate is predicted to reach US$ 45.3 billion.

The market for MDI is slated to progress at 5% CAGR through 2032.

Rising demand for polyurethane foam production, increasing demand for eco-friendly MDI products, and growing use in the construction industry are key factors expected to drive market growth.

Lanxess AG, Kumho Mitsui Chemicals Corporation, Covestro AG, Sumitomo Chemical Company Limited, Sadara Chemical Company, TCI Chemicals Pvt. Ltd., The Dow Chemical Company, Tosoh Corporation, Merck KGaA, and Redox Pty Ltd. are key MDI manufacturers.

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