According to a market report by Lucintel, the future of the global MDI based polyurethane market looks promising with opportunities construction, appliance, transportation, furniture & bedding, footwear, packaging, and general & industrial engineering industries. The global MDI based polyurethane market is expected to reach an estimated $13 billion by 2030 from $10.4 billion in 2023, at a CAGR of 4% from 2023 to 2030. The major drivers for this market is 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 205 –page report to understand trends, opportunity and forecast in MDI based polyurethane market to 2030 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).
Lucintel forecasts that building and construction will remain the largest end use over the forecast period due to increasing demand of rigid foam for thermal and acoustic insulation in exterior and interior walls. Transportation is expected to witness highest growth over the forecast period.
Rigid foam will remain the largest segment over the forecast period due to of growing demand of PU foam in building & construction and appliances industries for thermal insulation and energy savings. Flexible foam is expected to witness highest growth over the forecast period.
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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Wanhua Chemical Group, BASF, Covestro, Huntsman Corporation, Dow Chemicals are the major suppliers in the MDI based polyurethane market.
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