MDI, TDI, and Polyurethane Market Surges Towards $105.3 Billion by 2026, with a Remarkable 6.2% CAGR
The MDI, TDI & polyurethane market size is estimated to be USD 77.9 billion in 2021 and is expected to reach USD 105.3 billion by 2026, at a CAGR of 6.2% during the forecast period. Factors such as compliance with energy regulation, environmental sustainability need, and versatility & unique properties will drive the MDI, TDI & polyurethane market. The major restraint for the market will be toxicity and environmental concern and eco-friendly substitutes. However, increasing demand for bio-based polyurethane will act as an opportunity for the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=381
The key market players profiled in the report include BASF SE (Germany), The Dow Chemical Company (US), DuPont De Nemours, Inc. (US), Huntsman Corporation (US), Covestro AG (Germany), LANXESS AG (Germany), Mitsui Chemicals Inc. (Japan), Wanhua Chemical Group Co. Ltd. (China), and Woodbridge Foam Corporation (Canada).
Players in the MDI, TDI & polyurethane market are mainly concentrating on new product launches, acquisition, and expansion to meet the growing demand for MDI, TDI & polyurethane for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the MDI, TDI & polyurethane market has been largely influenced by new product launches that were undertaken between 2016 and 2020. BASF SE has adopted new product launches to enhance their market position.
BASF SE is one of the major players in the MDI, TDI & polyurethane market. In order to strengthen their product portfolio, the company is focusing on expansion for meeting client’s requirements. For instance, In May 2020, started construction of the Zhanjiang plant to serve the increasing needs of various growth industries in the southern China market and in other Asian market. In Jan 2020, the company has expanded its production capability for water based polyurethane dispersion at its castellbisbal site in Spain to meet the rising demand. In November 2019, groundbreaking ceremony was held in Zhanjiang, Southern Chinese production site to produce engineering plastics and TPU to serve growing demand.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=381
The companies also adopted acquisition as a strategy to increase their share and market presence. For instance, in February 2020, LANXESS acquired the 100 percent shares in biocide manufacturer IPEL – Itibanyl productos Especiais Ltd., Brazil which increased the facilities of Engineering Materials segment. In September 2019, Woodbridge has signed an agreement to acquire all shares in Woodbridge GSK high polymers technologies from GSK corporation which enables Woodbridge in enhancing the growth opportunities in China.
In September 2020, Covestro AG signed an agreement to acquire Resins & Functional Materials (RFM) from Koninklijke DSM NV., Heerlen (Netherlands) to build a sustainable and innovative business activities. In March 2020, Wanhua chemicals is setting up a Joint Venture with Fujian Petrochemicals group to advance the expansion of MDI plant and TDI facilities.
Read Our Trending Press Release Below:
Rubber Repair Adhesives Market – Global Forecast to 2025
Liquid Adhesives Market – Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/mdi-tdi-polyurethane-market-381.html
