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The global Diphenylmethane Diisocyanate (MDI) market size was USD 28.26 Billion in 2021 and is expected to register a revenue CAGR of 5.1% during the forecast period, according to latest analysis by Emergen Research.
Growing adoption of diphenylmethane diisocyanate in the construction industry is the key factor driving market revenue growth.
Rising growth of the construction sector across the world creates high demand for MDI, which is used for production of rigid polyurethane foam and has a wide application in the construction industry. It is used in insulated panels, roof installation, and filling gaps around windows and doors. Rigid polyurethane foams, such as spray, pour-in-place, and one-component foams, can be used to fill gaps and cover complex shapes. Rigid polyurethane foam has significant environmental benefits including increased energy efficiency and lower construction load. The construction industry is booming across the world, especially in the U.S., China, and India. According to research, the global construction industry will expand to USD 15.5 trillion by 2030 and added USD 900 billion to the U.S. economy in first three months of 2020. China, the U.S., and India are leading the way, accounting for 57% of global growth.
Market Size – USD 28.26 Billion in 2021, Market Growth – at a CAGR of 5.1%, Market Trends – Rising trend for phosgene-free MDI production
In addition, rising trend to produce phosgene-free MDI or non-toxic phosgene is expected to drive revenue growth during the forecast period. The strategy is to create a non-toxic phosgene-free alternative production process for Methyl Diphenyl Diisocyanate (MDI). Phosgene-free MDI helps to support government health-related standards. Some of the companies are producing climate-friendly MDI and introduced it to the market. For instance, in February 2022, German multinational chemical company BSAF introduced Lupranat ZERO, which is climate-friendly diphenylmethane diisocyanate. The product is useful for production of rigid polyurethane foam and as thermal insulation in the construction industry.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Diphenylmethane Diisocyanate market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Diphenylmethane Diisocyanate market and pinpoint the fundamental growth trends.
The major companies Covered in the report are:
BASF SE, Dow Chemical Company, Huntsman Corporation, Covestro AG., Everchem Specialty Chemicals, Wanhua Chemical Group Co. Ltd., Kumho Mitsui Chemicals, Lanxess AG., Tosoh Corporation, Hexion Inc., and TCI Chemicals (India) Pvt. Ltd
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