H1 2023: In H1 2023, the price of Methylene Diphenyl Diisocynate (MDI) fluctuated in the Asia Pacific region. Prices increased till half of February as a result of low inventory levels and high demand from the downstream construction industry. Due to the industrial sector's robust orders for PU foam and the retail sector's increasing demand for furniture, prices surged till February. Concurrently, rising feedstock benzene costs resulted from tight supply and fluctuating upstream prices in light of the unstable price of crude oil. However, as a result of fewer orders, MDI prices levelled off in March 2023 in Asia. April 2023 onwards, the price trend for methylene diphenyl diisocyanate began to show unfavourable movement. The lacklustre activity in the polyurethane industry and the smooth supply of the material contributed to the low prices trend. Low demand from foreign importers also supported this weak price trend. Additionally, the hazy construction industry meant that polyurethane elastomer and coating manufacturers' consumption rates stayed low. In June 2023, MDI prices marginally increase in China as a result of increased purchasing activity ahead of the Dragon Boat Festival in China. The net production cost of MDI rose as the prices of feedstock Benzene rose in China and affected the production costs of MDI.
The global Methylene Diphenyl Diisocynate (MDI) market stood at approximately 4900 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.10% during the forecast period until 2032.
Methylene Diphenyl Diisocyanate, or MDI, is one of the diisocyanates that is produced most frequently worldwide. MDI is a very adaptable product that is used to create elastomers, foams of all kinds, including molding foams and thermostat foams, as well as polyurethane goods. In addition, the product is utilized in the manufacturing of sports goods and footwear. Polyurethane (PU), which is in high demand by furniture producers, is the main product of MDI. Two processes are involved in the commercial manufacturing of MDI. The first step involves the reaction of aniline and formaldehyde with HCl acting as a catalyst. To get the finished product, phosgene is added to the isocyanate mixture that was created. The primary application of MDI is in polyurethane foams. The main applications for rigid forms are in insulation, packing, refrigeration, and building. Additionally, binders, elastomers, adhesives, sealants, and coatings are made with MDI.
Rigid polyurethane foam is widely used in insulated panels, gap fillers for the areas surrounding doors and windows, and wall and roof insulation. Rigid PU foam is mostly utilized for wall and roofing insulation. It is also used to fill uneven forms and gaps with firm PU foams. Significant environmental advantages of rigid polyurethane foam include lower project weight and enhanced energy efficiency. One of the most often uses of PUs in the architecture and construction industry is protective coatings. In addition to many other consumer and commercial goods, they are utilized in the construction of bridges, buildings, cellars, and wood flooring. PU adhesives are utilized in flooring, wallboard, window and door installations, roofing, and wallboard because of its quick cure time, strong binding, and resistance against weather. The building industry is expanding rapidly as a result of increased urbanization and infrastructure development, especially in emerging economies. The demand for MDI is driven by the wide range of uses of MDI-based polyurethane foams in roofing, flooring, insulation, and other building materials. MDI-based polyurethane foams are also used in the automotive sector for a variety of purposes, such as soundproofing, interior trimmings, and seating. The introduction of MDI in automotive manufacturing has been driven by strict pollution restrictions and the growing demand for lightweight and energy-efficient vehicle. The global Methylene Diphenyl Diisocynate (MDI) market is likely to reach approximately 8000 thousand tonnes in 2032.
In terms of consumption, the Asia Pacific region leads the world market for Methylene Diphenyl Diisocynate (MDI). Due to growing demand from sectors including construction, furniture, electronics, and automotive in nations like China, India, and Japan, the Asia-Pacific region is anticipated to lead the market. In the area, MDI is becoming more and more popular. Furthermore, since China is the world's largest manufacturer and consumer of polyurethane, the material is predominantly used in MDI applications in that nation. China is the world's largest producer and user of polyurethane products, and the country mostly uses MDI for polyurethane. Over 40% of the world market for polyurethane products is supplied by China, which is expected to continue to grow in the coming years. The MDI market is expanding in Europe due to consumer demand for sustainable building methods and energy-efficient insulating materials.
Based on the end-user industry, the global Methylene Diphenyl Diisocynate (MDI) market is segmented into Construction Industry, Furniture Industry, Electronics Industry, Automotive, and Others. However, Construction Industry is the leading segments and held about 41% of the global Methylene Diphenyl Diisocynate (MDI) market in 2022 and is anticipated to prevail the similar trend in the upcoming years. MDI's principal end uses are foam insulation for buildings and appliances, binders for goods made of composite wood, and sealants and adhesives for laminate floors.
Major players in the Global Methylene Diphenyl Diisocynate (MDI) market are Wanhua Chemical Co. Ltd, Covestro AG, Tosoh Corporation, Huntsman International LLC, BASF SE, Redox Pty Ltd, Wanhua Chemical Group Co., Dow and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Methylene Diphenyl Diisocynate (MDI) which covers production, demand and supply of Methylene Diphenyl Diisocynate (MDI) market in the globe.
• To analyse and forecast the market size of Methylene Diphenyl Diisocynate (MDI)
• To classify and forecast Global Methylene Diphenyl Diisocynate (MDI) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methylene Diphenyl Diisocynate (MDI) market in the globe.
To extract data for Global Methylene Diphenyl Diisocynate (MDI) market, primary research surveys were conducted with Methylene Diphenyl Diisocynate (MDI) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Methylene Diphenyl Diisocynate (MDI) market over the coming years.
ChemAnalyst calculated Methylene Diphenyl Diisocynate (MDI) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Methylene Diphenyl Diisocynate (MDI). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Methylene Diphenyl Diisocynate (MDI) manufacturers and other stakeholders
• Organizations, forums and alliances related to Methylene Diphenyl Diisocynate (MDI) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Methylene Diphenyl Diisocynate (MDI) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Methylene Diphenyl Diisocynate (MDI) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
|
Details
|
Market size Volume in 2022
|
4900 thousand tonnes
|
Market size Volume in 2032
|
8000 thousand tonnes
|
Growth Rate
|
CAGR of 5.10% from 2023 to 2032
|
Base year for estimation
|
2023
|
Historic Data
|
2015 – 2022
|
Forecast period
|
2024 – 2032
|
Quantitative units
|
Demand in thousand tonnes and CAGR from 2023 to 2032
|
Report coverage
|
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
|
Segments covered
|
By End-Use: (Construction Industry, Furniture Industry, Electronics Industry, Automotive, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
|
Regional scope
|
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
|
Pricing and purchase options
|
|
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com