Hydrogenated MDI Market Expected to Reach $655.69 Million in 2023
The hydrogenated MDI is witnessing significant growth due to the rising demand for polyurethane products across various industries. Hydrogenated MDI is a crucial component in the production of polyurethane, which finds applications in construction, automotive, furniture, and many other sectors. Hydrogenated MDI Market was valued at USD 432.77 Million in 2022 and is projected to reach USD 655.69 Million by 2030, growing at a CAGR of 5.4% during the forecast period. Market Drivers: The construction sector is witnessing significant growth globally, driving the demand for hydrogenated MDI-based polyurethane products. These products find extensive use in insulation, flooring, and roofing applications, contributing to the overall market expansion. The automotive industry is a major consumer of hydrogenated MDI, utilizing it in manufacturing lightweight and durable components. As the automotive sector continues to grow, the demand for hydrogenated MDI-based polyurethane foams for...