CIS (Russia, Ukraine, Others) MDI (Methyl Diphenyl Diisocyanate) Market: Industry Analysis, Raw Material, Consumption Trends, Size, Share and Forecast 2010 - 2018
Albany, New York (PRWEB) August 30, 2014
According to a new market report published by Transparency Market Research, "CIS (Russia, Ukraine, Others) MDI (Methyl Diphenyl Diisocyanate) Market - Industry Analysis, Raw Material, Consumption Trends, Size, Share and Forecast, 2010 - 2018," the CIS demand for MDI growing at a CAGR of 5.8% for the period from 2013 to 2018 was valued at 265.9 kilo tons in 2011. It is predicted to reach 391.9 kilo tons in 2018. Considering in terms of revenues, the MDI market was expected to be worth $744.4 million in 2011 and is further expected to reach $1,116.9 million in 2018. The market is growing at a CAGR of 6% from 2013 to 2018.
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Geographically, Russia is the largest consumer in the CIS MDI market. This is mainly due to the availability of crude oil and natural gas resources in the country. Russia accounted for over 83% of the total MDI consumed in 2011. The growth of this market is increasing in Russia due to rapid industrialization and rising foreign investments for MDI across the nation. Russian MDI demand is growing at a CAGR of 6.1% between 2013 and 2019, making it the rapidly growing market for MDI in the CIS region.
One of the prominent factors boosting the MDI market is the demand from end-user industry segments such as furniture, construction, and home appliances. The market is inhibited by pricing characteristics of benzene too. Also, phosgene-free MDI production process minimizes the sustainability and impact of MDI on environment at the same time.
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MDI as a material is used to manufacture rigid polyurethane foams widely implemented in consumer appliances, insulators in construction, packaging, industrial applications, and other industrial applications. It is also utilized in adhesives & sealants, paints & coatings, and elastomers as non-foam applications. Rigid foams are accounted to be the largest application segment of MDI globally—it accounted for 56.1% of MDI market revenue in 2011. However, the segment is expected to increase with CAGR of 6.2% in the forecast period. In comparison to rigid foam polyurethanes, the paints & coatings market for MDI is a small-scale market, but still it emerges as the industry’s second largest segment consuming MDI.
Due to the increasing demand for MDI from emerging economies such as China and India in Asia-Pacific, a positive volume growth is expected to stir the MDI industry at a CAGR of 5.5% during the forecast.
The research stated through this report was primarily carried out to measure and analyze the consumption trend of MDI for CIS region. This includes geographies such as Ukraine, Russia, and other countries in the CIS region. The MDI consumption revenues and volumes for the CIS region stated in this report were conducted through secondary research and primary interviews that involved top level managers and executives of leading MDI producers in CIS.
Furthermore, the report also analyzes the company market share analysis, as well as the company profiles of top leading market players effective in the CIS MDI market. Some of the major players in MDI market segment profiled in this report include Dow Chemical Company, Yantai Wanhua, BASF, Bayer, Huntsman, and Mitsui Chemicals.
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