Global TDI & MDI Market (By End User & Region): Insights & Forecast (2022-2026)
The global TDI market is forecasted to reach US$7.96 billion in 2026, experiencing growth at a CAGR of 3.34% during the period spanning from 2022 to 2026. The global MDI market is forecasted to reach US$42.79 billion in 2026, experiencing growth at a CAGR of 4.83% during the period spanning from 2022 to 2026. Growth in the global TDI and MDI market was supported by factors such as rising disposable income, growing automotive sector and growth in the consumer electronic industry. However, the market growth is expected to be restrained by rising crude oil prices, rising environmental and health related concerns.
The global TDI market by end user can be segmented as follows: coatings, adhesives, sealants & elastomers (CASE), wood/ furniture, automotive and others. In 2021, the dominant share of global TDI market was held by coatings, adhesives, sealants & elastomers (CASE), followed by wood/ furniture.
The global TDI and MDI market by region can be segmented as follows: Asia Pacific, Europe, Middle East, Africa, NAFTA and Latin America. The largest share of the market was being held by Asia Pacific, followed by, Europe, Middle East, Africa, NAFTA and Latin America. Factors such as rapid urbanization, accelerating footwear industry and accelerating growth in construction industry helped in boosting market growth.
The COVID-19 pandemic affected global TDI and MDI market negatively. The market is highly dependent on the building & construction, automotive and consumer goods industries. Strict lockdowns across countries led to shutdowns of manufacturing units, leading to supply disruptions.
Scope of the report:
• The report provides a comprehensive analysis of the global TDI MDI market with potential impact of COVID-19.
• The major regional markets (Asia Pacific, Europe, Middle East, Africa, NAFTA and Latin America) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (BASF SE, DOW Chemical Company, DuPont de Nemours, Inc., Covestro AG, Wanhua Chemical Group Co., Ltd. and Huntsman Corporation) are also presented in detail.
For more Information:
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Content Source- Koncept Analytics