The Methylene Diphenyl Di-isocyanate Market size is estimated at 8.09 Million tons in 2024, and is expected to reach 10.46 Million tons by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The market witnessed growth in 2021 after recovering from the dip caused by the COVID-19 pandemic in 2020. The consumption of MDI increased in various end-user industries, such as construction, automotive, and others. In these end-user industries, MDI is used in various applications, including PU foam, coatings, adhesives, elastomers, and binders.
The methylene diphenyl diisocyanate (MDI) market is consolidated in nature, with top players accounting for a major share of the market. Some of the key players in the market include Wanhua Chemical Co. Ltd, BASF SE, Covestro AG, Dow, and Huntsman Corporation.
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