PUNE, India, March 16, 2017 /PRNewswire/ --
The report "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) - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from an estimated USD 69.28 Billion in 2016 to USD 90.34 Billion by 2021, at a CAGR of 5.45%.
Browse 112 market data Tables and 56 Figures spread through 185 Pages and in-depth TOC on "MDI, TDI, and Polyurethane Market"
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The market is mainly driven by the growth in emerging economies, especially China and India. The growth in the emerging economies is backed by the increased demand from automotive, transportation, and construction applications, as well as technological and infrastructural developments.
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The rigid foams segment is projected to grow at the highest CAGR during the forecast period.
The rigid foams segment is projected to be the fastest-growing segment from 2016 to 2021. The growth is expected to be driven by the increasing demand from residential and commercial construction for board and laminate insulation and foam roofing.
The construction segment to account for the largest share of the MDI, TDI, and Polyurethane Market
The construction segment accounted for the largest market share in 2015, owing to the increasing construction activities in the emerging economies of Asia-Pacific, South America, and Middle East & Africa. The rebound in construction activities in matured markets such as the U.S. and Europe is also expected to drive the market during the forecast period. The most important application of polyurethane in buildings is insulation.
The Asia-Pacific region to play a key role in the growth of the market for MDI, TDI, and polyurethane
Based on region, the MDI, TDI, and Polyurethane Market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia-Pacific region is a key market for MDI, TDI, and polyurethane. Development in the economies and the rapid growth in the construction, electronics, and automotive industry in this region have led to the high growth of this market. Many automotive and footwear manufacturers are setting up or expanding their manufacturing bases in this region to benefit from the low manufacturing cost.
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The key players in the MDI, TDI, and Polyurethane Market include BASF SE (Germany), The Dow Chemical Company (U.S.), Covestro AG (Germany), Huntsman Corporation (U.S.), Mitsui Chemicals, Inc. (Japan), E.I. du Pont de Nemours & Company (U.S.), Chemtura Corporation (U.S.), Wanhua Chemicals Group Co., Ltd. (China), Woodbridge Foam Corporation (Canada), and Chematur Engineering AB (Sweden)
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