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MDI Based Polyurethane Market Prospect Is Optimistic.
- Sep 25, 2018 -

The global market outlook for MDI-based polyurethane is optimistic, with huge opportunities in the construction, household appliances, transportation, furniture and bedding, footwear, packaging, general purpose and industrial engineering industries, according to a study released on September 10 by Lucintel, a market consultancy and research firm. The company expects the global market value of MDI-based polyurethane to reach $22.9 billion by 2023, with a compound annual growth rate of 4.0% from 2018 to 2023.

The report points out that the growing demand for high-quality insulation materials in the construction, household appliances and transportation industries is the main driving force for the growth of the MDI-based polyurethane market. MDI based polyurethane can be used to make rigid foam, soft foam, paint, binding agent and sealant and elastomers and other materials. Research shows that polyurethane foam is increasing demand for insulation / energy saving materials in the construction and household electrical appliances industry. In terms of value and sales volume, MDI based rigid foam will become the largest application market in the forecast period.

Lucintel noted in its report that demand for this material continues to rise in the footwear and industrial end-use industries and that elastomer applications are expected to achieve the highest growth during the forecast period. In the MDI based polyurethane market, the construction industry is still the most valuable end use of sales, because the demand for thermal insulation and sound insulation of exterior walls and interior walls is increasing.

The company predicts a blowout of end-use demand for high-quality sneakers as demand increases. In terms of value and sales volume, the Asia Pacific region will remain the largest share. At the same time, the Asia-Pacific region will witness the highest growth from 2018 to 2023 due to increasing investment in the construction sector and sustained growth in automotive and household appliances production. The new trend of developing high flame retardant polyurethane foam and biologically based MDI will directly affect the future trend of the industry.