According to the research report titled ‘Global MDI, TDI, Polyurethane Market (Value, Volume) - Analysis By Type (MDI, TDI), Application (Flexible Foams, Rigid Foams, Coatings, Others), End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global MDI, TDI, polyurethane market had reached a valuation of USD 67.3 billion in 2020 and is likely to expand considerably through 2026.
 

Widespread product adoption in construction and industrial applications coupled with its exceptional versatility, durability, insulation, and strength-to-weight ratio properties are major factors driving the growth of global MDI, TDI, polyurethane market.
 

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Favorable regulatory outlook that promotes green infrastructure development, increasing number of new households, rapid urbanization, escalating construction expenditure, and rising per capita income are also stimulating the overall industry outlook.
 

Despite the several growth trends, the outbreak of COVID-19 has severely impacted global MDI, TDI, polyurethane industry growth. This can be attributed to supply chain disruptions across the globe and declining demand for construction equipment amidst the pandemic lockdowns.
 

From the regional point of view, Asia-Pacific accounts for the largest market share and is likely to observe continuous growth in the ensuing years. Factors such as availability of highly skilled labor and raw materials, favorable government regulations, and increasing adoption of MDI, TDI, and polyurethane for various purposes are facilitating the business scenario in Asia-Pacific.
 

The competitive landscape of global MDI, TDI, polyurethane industry is defined by companies including DuPont de Nemours Inc., Mitsui Chemicals Inc., BASF SE, Wanhua Chemicals Group Co. Ltd., Covestro AG, Huntsman Corporation, and  Dow Chemical Company.