International. According to Emergen Research's analysis, the global Diphenylmethane Diisocyanate (MDI) market size was $28.26 trillion in 2021 and is expected to register a CAGR of 5.1% during the forecast period.
The growth of the construction sector worldwide, with the United States, China and India leading the way, creates a high demand for MDI, which is used for the production of rigid polyurethane foam and has a wide application in this industry. This is used in insulating panels, installation of ceilings and filling of gaps around windows and doors.
Rigid polyurethane foams can be used to fill gaps and cover complex shapes. It has significant environmental benefits including greater energy efficiency and a lower construction load.
According to the report, the growing trend to produce MDI without phosgene or non-toxic phosgene is expected to drive revenue growth during the forecast period. The strategy is to create an alternative production process free of phosgene and non-toxic to the MDI.
Phosgene-free MDI helps support government health-related standards. Some of the companies are producing climate-friendly MDI and introduced it to the market.
In February 2022, the German multinational chemical company BSAF introduced Lupranat ZERO, a climate-friendly diphenylmethane diisocyanate. The product is useful for the production of rigid polyurethane foam and as a thermal insulator in the construction industry.
Some of the major companies in the global market report include BASF SE, Dow Chemical Company, Huntsman Corporation, Covestro AG., Everchem Specialty Chemicals, Wanhua Chemical Group Co., Ltd., Kumho Mitsui Chemicals, Lanxess AG., Tosoh Corporation, Hexion Inc., and TCI Chemicals (India) Pvt. Ltd.
