Market Size of Methylene Diphenyl Di-isocyanate (MDI) Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 28.99 Billion |
| Market Size (2029) | USD 42.55 Billion |
| CAGR (2024 - 2029) | 7.98 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players_Market-major_players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Methylene Diphenyl Diisocyanate Market Analysis
The Methylene Diphenyl Di-isocyanate Market size is estimated at USD 28.99 billion in 2024, and is expected to reach USD 42.55 billion by 2029, growing at a CAGR of 7.98% during the forecast period (2024-2029).
The market witnessed growth in 2021 after recovering from the COVID-19 pandemic in 2020. The consumption of MDI has increased in various end-user industries, such as construction, automotive, and others. In these end-user industries, MDI is used in various applications, including PU foam, coatings, adhesives, elastomers, and binders.
- Over the short term, the growing demand for PU in insulation in the construction industry is expected to drive the market's growth.
- On the flip side, stringent regulations associated with MDI and the toxic effects of MDI may act as barriers to the growth of the market studied.
- The phosgene-free MDI production process is expected to offer lucrative opportunities for the growth of the market.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries like China, Japan, and South Korea, and it is likely to witness the highest CAGR during the forecast period.
