MDI, TDI, and Polyurethane Market to Reach $90 Billion by 2021

Research and Markets has announced the addition of the "MDI, TDI, and Polyurethane Market by Application, End-Use - Global Forecast to 2021" report to their offering.

The market for MDI, TDI, and polyurethane is expected to grow from an estimated USD 69.28 Billion in 2016 to USD 90.34 Billion by 2021, at a CAGR of 5.45%. This market is growing because of the increase in demand for polyurethane from various end-use industries such as construction, automotive, and electronics. This growth in the consumer industry is expected to drive the demand for polyurethane as it is predominantly used in refrigerators, freezers, televisions, and other consumer electronics.

The MDI, TDI, and polyurethane market is segmented by application, end-use industry, and region. Based on application, the rigid foams segment is projected to grow at the highest rate during the forecast period. Rigid foams find uses across various applications, primarily as insulating foams and structural foams in the construction industry.

There are certain factors that restrain the growth of the MDI, TDI, and polyurethane market. Some of these include the increasing environmental concerns and availability of eco-friendly substitutes such as epoxy-based coatings. However, the polyurethanes industry is continuously striving for sustainability in business practices and is focused on developing renewable feedstocks for polyurethanes as well as finding alternative production methods to exclude the use of highly toxic and hazardous chemicals.