Global MDI market expected to reach US$ 16 bln in 2016

21-Mar-12

Global MDI market was worth US$11.9 bln in 2011 and is expected to reach US$16 bln in 2016, growing at a CAGR of 6.1% from 2011 to 2016. Asia Pacific is expected to maintain its lead position in terms of revenue with 37.4% of global MDI market share in 2016 followed by Europe, as per Transparency Market Research. MDI is mostly used for manufacturing rigid polyurethane foams, which are widely used as insulators in construction, consumer appliances, industrial applications, packaging and other such applications. It is also used in non-foam applications such as elastomers, paints & coating, and adhesives & sealants. Rigid foams was the largest application segment of MDI market, which accounted for 56.1% of the global MDI Market revenue in 2011. The segment is expected to grow at a CAGR of 6.2% from 2011 to 2016. The Adhesive & Sealants segment of MDI application market will have a growth rate of 6.2% from 2011 to 2016. The Flexible Foams application segment of MDI market will grow at a CAGR of 5.2% from 2011 to 2016 to attain a market value of USD 1.1 billion in 2016.