According to the recent study the MDI based polyurethane market is projected to reach an estimated $27.8 billion by 2028 from $22.5 billion in 2022, at a CAGR of 3.6% from 2022 to 2028. Growth in this market is primarily driven by increasing demand for higher thermal insulating materials in building and construction, home appliances, and transportation sectors, increased production growth of lightweight vehicles and an increase in regulatory pressure for energy efficiency and lowering CO2 emissions.
Browse 107 figures / charts and 68 tables in this 198 -page report to understand trends, opportunities and forecast in MDI based polyurethane market by application (rigid foam, flexible foam, coating, adhesive and sealant and elastomer), end use (construction, appliance, transportation, furniture and bedding, footwear, packing, general/ industrial engineering and others), region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Construction market is expected to remain the largest segment during the forecast period.”
Based on end use, the MDI based polyurethane market is segmented into construction, appliance, transportation, furniture and bedding, footwear, packing, general/ industrial engineering and others. Lucintel forecasts that the construction market is expected to remain the largest segment due to increasing demand of rigid foam for thermal and acoustic insulation in exterior and interior walls.
“Within the MDI based polyurethane market, the rigid foam segment is expected to remain the largest application”
Based on application the rigid foam segment is expected to witness the highest growth over the forecast period due to growing demand of PU foam in building & construction and appliances industries for thermal insulation and energy savings.
“Asia pacific will dominate the MDI based polyurethane market in near future”
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing investment in building and construction, and increasing production of automotive and appliances.
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Major players of MDI based polyurethane market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF, Covestro, Huntsman Corporation, Dow Chemicals, Wanhua Chemical Group Co. Ltd., Mitsui Chemicals Inc., Tosoh Corporation, Sadara Chemical Compan are among the major MDI based polyurethane providers.
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