Prismane

Global Methylene Diphenyl Diisocyanate (MDI) Market Demand & Forecast Analysis, 2018-2034

MDI Market Overview

The global MDI market size was valued at USD 20 billion in 2022, with projected to grow with a CAGR of 5% to reach USD 35 billion by 2032. The demand for MDI is linked to the performance of the rigid polyurethane foam. More than 80% of MDI produced is used as raw material for production of polyurethane foams, which in turn find extensive applications in the construction, furniture, and automotive sectors. With anticipated growth in demand of polyurethane foams, particularly in emerging countries, the MDI market is expected to grow in long term forecast. 
Global MDI Demand Supply Analysis 2016-2032 (Kilo Tons)
Global MDI Demand Supply Analysis 2016-2032 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Introduction

Methylene Diphenyl Diisocyanate is an aromatic diisocyanate commonly abbreviated as MDI. MDI is one of the largest consumed diisocyanate in world, almost accounting more than 60% of global diisocyanate market. MDI is primarily used in manufacturing of polyurethane foams such as rigid foams & molded flexible foams. It is also used for making flexible plastics. Aniline, usually derived from nitrobenzene is reacted with formaldehyde, to produce MDI which is further reacted with a polyol to form polyurethanes. Excellent insulating properties and rigidity of MDI makes it ideal for use in construction, automobile and refrigeration industry as not only does the material protect and dampens noise, but also helps in saving energy through heat insulation. Other applications of MDI are in packaging, paints & adhesives, and others.

MDI Capacity Overview

In 2022, the global MDI capacity was around 10,00 Kilo tons and is estimated to cross  13,200 kilo tons by 2032. In terms of capacity share, Asia Pacific accounts for more than 50% followed by Europe and North America together accounting for 45% share .Countries like USA, Germany, Japan, Korea and China are the leading suppliers of MDI with China having largest capacity share of 40%. Wanhua is the largest producer of MDI in the world with total capacity of exceeding 2,600 Kilo tons with manufacturing facility in Hungary and China. Wanhua is closely followed by BASF and Covestro with capacity share around 17% each. Others prominent supplier for MDI are Huntsman, Dow Chemical, Tosoh, SADARA and Shanghai Lianheng Isocyanate. 
Global MDI Demand, By Region - 2022 (Kilo Tons)
Global MDI Demand, By Region - 2022 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

MDI Demand Overview

Global MDI market stood at 8,148 Kilo tons in 2022 and is further projected to grow at CAGR of 4.1% to cross 11,500 Kilo tons by 2032. Asia Pacific, Americas, and Europe are major region together accounting for more than 90% of global demand. Asia Pacific is by far the largest consumer of MDI having total demand of more than 50% of global MDI demand in 2022. Developing economies such as China and India are anticipated to drive the regional MDI demand on the back of strong demand of MDI from building & construction and automotive end use industries. 
Global MDI Demand Analysis, By Application 2016-2032 (Kilo Tons)
Global MDI Demand Analysis, By Application 2016-2032 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Market Dynamics

Drivers: Growing demand from End Use Industries 

MDI is a critical raw material in the production of Polyurethane foam, , a commonly employed material in automotive and construction industries.. Polyurethane foams are used in insulating floors, roofs, and walls, as well as in adhesives and sealants within the construction industry.
Polyurethane based foam, adhesives and coatings are widely used in automotive seating systems, interior design, and automotive paints. The expected growth in these end-use industries is poised to drive increased demand for Polyurethane and, consequently, MDI. 
China, India, the USA, Japan, and South Korea are expected to witness strong growth in in automotive manufacturing, which will subsequently drive higher consumption of Polyurethane and its derivatives. By the end of 2030, the collective annual vehicle production across these nations is projected to surpass 60 million vehicles. 
Likewise, Construction industry in developing economies is set to flourish, owing to rising incomes and improvements in the standard of living. Countries like India will experience significant growth in building & construction due to infrastructure and development activities by the country to bolster its economy during forecast period.

Restraints: Hazardous Properties of Isocyanates.

MDI like any other isocyanates is high hazardous material, even with small quantity of exposure it may cause fatal reactions in human body which may lead to loss of life. MDI comes under member chemicals of International Isocyanate Institute which aims to promote guidelines and handling protocols for MDI in workplace to ensure safety of community and environment. Many producers of MDI are part of these institute. Thus, the hazardous nature of MDI may negatively impact the growth of MDI market.

Challenges: Raw Material Price Fluctuation

MDI Prices are highly dependent of raw material such as Aniline (mainly Benzene) and Formaldehyde. Both of these materials are produce form petroleum products like Naphtha and Natural Gas. Hence prices fluctuation of Crude Oil and Natural Gas plays pivotal role in pricing of products like MDI. In 2022 the global average trade price of MDI remained between 2.3 USD/Kg to 2.5 USD/Kg.

Scope of Report 

The Methylene Diphenyl Diisocyanate report describes the global Methylene Diphenyl Diisocyanate market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand-Supply Analysis
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply Demand Balance 
•  Methylene Diphenyl Diisocyanate Market data in terms of volume and value for each end-use 
   at regional and country level
•  Methylene Diphenyl Diisocyanate Market analysis for Production, Capacity and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Application
          -  End Use Industry
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2018 – 2023
          -  Base - 2024
          -  Forecast Period - 2025 – 2034
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand-Supply Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      •  Automotive
      •  Electronic
      •  Home Furnishings
      •  Building & Construction
      •  Footwear
      •  Packaging
      •  Sporting Goods
      •  Others
5.  Plants & Projects Analysis
      •  Methylene Diphenyl Diisocyanate (MDI) Production Capacity, by Company
      •  Methylene Diphenyl Diisocyanate (MDI) Production Capacity, by Country and by region
6.  Introduction to Methylene Diphenyl Diisocyanate and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
7.  Market Dynamics and Industry Trends 
      •  Market Dynamics 
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
8.  Global Methylene Diphenyl Diisocyanate (MDI) Demand-Supply Analysis, By Applications, By End Use Industry (Volume, Value) (2018–2034)
      •  Strategic Issues
      •  Demand-Supply Analysis and Forecast (2018 – 2034)
          -  Capacity
          -  Capacity Utilization (%)
          -  Production
          -  Imports
          -  Exports
          -  Net Trade
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Methylene Diphenyl Diisocyanate (MDI) Market, By Application 
          -  Polyurethane Foams
             -  Rigid Foam
             -  Flexible Foam
          -  Adhesives & Sealants
          -  Surface Coatings
          -  Polyurethane Elastomers
          -  Others
      •  Global Methylene Diphenyl Diisocyanate (MDI) Market, By End Use Industry
          -  Construction
          -  Furniture
          -  Automotive
          -  Electronics and Appliances
          -  Footwear
          -  Others
9.  Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2018– 2034)
      •  Strategic Issues
      •  Capacity
      •  Capacity Utilization (%)
      •  Production
      •  Imports
      •  Exports
      •  Net Exports
      •  Demand
      •  Demand Growth Rate (%)
      •  Methylene Diphenyl Diisocyanate (MDI) Market, By Application
      •  Methylene Diphenyl Diisocyanate (MDI) Market, By End Use Industry
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand-supply (consumption) split by Applications, has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the applications to arrive at the regional/global demand growth for the forecast period (2025 – 2034)
10.  Pricing Analysis
      •  Average Methylene Diphenyl Diisocyanate Prices, USD/Kg
      •  Average Methylene Diphenyl Diisocyanate  Prices, by Country 
      •  Average Methylene Diphenyl Diisocyanate Prices, by Region
      •  Price Forecast
11.  Key Strategic Issues
12.  Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
13.  Strategic Recommendation & Suggestions
14.  Company Analysis and Market Share Analysis
      •  Methylene Diphenyl Diisocyanate (MDI) Manufacturers Profiles/ Company Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             -  BASF SE
             -  Nippon Polyurethane
             -  Bluestar Tianjin Chemical Materials Co., Ltd
             -  SADARA
             -  Dow Chemical Company
             -  Huntsman Corporation
             -  Wanhua Chemicals Group Co.
             -  Covestro AG
             -  Kumho Mitsui Chemicals
             -  Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
15.  Appendices
      •  Demand-Supply - Regions
      •  Demand-Supply– Countries
      •  Capacities, 2018-2034

Scope of Report 

The Methylene Diphenyl Diisocyanate report describes the global Methylene Diphenyl Diisocyanate market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand-Supply Analysis
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply Demand Balance 
•  Methylene Diphenyl Diisocyanate Market data in terms of volume and value for each end-use 
   at regional and country level
•  Methylene Diphenyl Diisocyanate Market analysis for Production, Capacity and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment