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 was worth 67.3 billion in 2020 and is anticipated to garner lucrative returns by the year 2026.

Global MDI, TDI, polyurethane market growth is attributed to widespread application in building and construction sector, as well as presence of properties like excellent strength-to-weight ratio, durability, insulation properties, and versatility.

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Furthermore, rising number of new households, increasing average spending on construction activities, growing disposable income of individuals across emerging nations, rapid urbanization, and mounting government spending on sustainable construction are expected to augment industry trends in the coming years.

Moreover, strong demand for polyurethanes is being fueled by numerous end-use sectors such as automotive, mining, construction, footwear, among others, which is aiding in market expansion.

Notably, the COVID-19 outbreak has diminished the demand for construction equipment, along with the disruption of supply chain, which in turn stifled the marketplace outlook in the recent past.

Based on type terrain, the industry is split into TDI (toluene diisocynate) and MDI (methylenediphenyl diisocyanate). In terms of application ambit, the market is divided into coatings, rigid foams, flexible foams, and others. On the basis of end-user spectrum, worldwide MDI, TDI, polyurethane marketplace is branched into electronic appliances, automotive, furniture & interiors, construction, and others.

Regionally speaking, Asia Pacific industry accounts for major revenue share at present and is reckoned to grow consistently over the forecast duration, owing to presence of trained labor, easy accessibility to raw materials, and local government assistance in the region.

Speaking of the competitive arena, Woodbridge Foam Corporation, DuPont de Nemours, Inc., Mitsui Chemicals, BASF SE, Wanhua Chemical Group Co., Ltd., Covestro AG, Huntsman Corporation, and The Dow Chemical Company are the leading players influencing global MDI, TDI, polyurethane market.