Global Hydrogenated MDI Market growing at a CAGR of 5.4% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Jul 2023
Key Market Overview
Consegic Business Intelligence analyzes that the hydrogenated MDI market is predicted to grow at a compound annual growth rate of 5.4% from 2023 to 2030 and is expected to reach USD 655.69 million in 2030 which was valued at USD 432.77 million in 2022.
The report highlights the increasing adoption of hydrogenated MDI in the building & construction industry, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the hydrogenated MDI market.
Global Hydrogenated MDI Market By Overview
The hydrogenated MDI market is bifurcated into application and end-use industry. Based on application the market is segmented into polyurethane elastomers, radiation curable urethane acrylates, polyurethane dispersions (PUDs), thermoplastic polyurethanes (TPUs), resins, and others. In 2022, the polyurethane dispersions (PUDs) panel segment dominate in the overall hydrogenated MDI market. The end-use industry segment is categorized into building & construction, textile, chemicals, and others. In 2022, the building & construction segment accounted for the highest market share in the hydrogenated MDI market.
Get Free SampleMarket Dynamics
Driver:
- Booming building and construction activities are benefiting the hydrogenated MDI market growth.
- The growth of the chemical sector is boosting the hydrogenated MDI growth of the market.
Restraints:
- Health hazards associated with hydrogenated MDI are restraining market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Application | Polyurethane Elastomers, Radiation Curable Urethane Acrylates, Polyurethane Dispersions (PUDs), Thermoplastic Polyurethanes (TPUs), Resins, and Others |
| By End-use Industry | Building & Construction, Textile, Chemicals, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Covestro AG, Merck KGaA, Evonik Industries AG, and MITSUI CHEMICALS which has a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more durable, ensure superior functioning, and others. Furthermore, the hydrogenated MDI market is expected to witness substantial growth in the coming years due to the growing investment in new building & construction projects in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Covestro AG
- Merck KGaA
- Evonik Industries AG
- MITSUI CHEMICALS
- Ashland
- Wanhua Chemical
- BASF SE