10 July 2019 –
The Global Isocyanate Market is anticipated to
grow at a CAGR of 6.56% in the upcoming period as the scope, product types, and
its applications are increasing across the globe. The factors that propel the
growth of the market include increasing demand for spray polyurethane foam,
rising demand for energy effective structures coupled with government
guidelines, and endorsements to help energy efficient structures. On the other
hand, there are factors that may hamper the growth of the market including huge
investments required in R&D and technology and high cost of raw material.
The market may be explored by type, application, reaction
type, end users and geography. The market may be explored by type as aliphatic
isocyanates, toluene diphenyl diisocyanate (TDI), and methylene diphenyl
diisocyanate (MDI). The “Methylene diphenyl diisocyanate (MDI)” segment led the
Isocyanate Market in 2016 and is anticipated to maintain its dominance by 2022
owing to its use in freezers, refrigerators, and for manufacturing vehicle
& seats interiors.
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The key applications that could be explored in the
Isocyanate Market include flexible foam, rigid foam, insulation, adhesives,
paints & coating, and others may include binders, and elastomers. The
market could be explored based on reaction type as phosgene and amines. The
“Phosgene” segment led the Isocyanate Market in 2016 and is anticipated to
maintain its dominance by 2022.
Asia-Pacific accounted for the major share of the Isocyanate
Market Size in 2016 and will continue to lead in the forecast period. The factors
that could be attributed to the growth include high usage of isocyanate-based
applications in several end-user industries. Although the European economy has
still not improved from the Euro crisis, it will continue to be the second
largest market, followed by Middle East, Africa, and North America.
Some of the key players that fuel the growth of the
Isocyanate Market comprise Huntsman Corporation, The Dow Chemical Company,
Bayer Material Science, Yantai Sanjiang Chemical Industry Material Co., Ltd.,
Anderson Development Company, and BASF SE. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
On the basis of
product, this report displays the production, revenue, price, market share and
growth rate of each type, primarily split into
• MDI
• TDI
• ADI
On the basis on the
end users/applications, this report focuses on the status and outlook for major
applications/end users, (sales), market share and growth rate of Isocyanates
for each application, including
• Polyurethane Foam
• Paints & Coatings
• Adhesives & Sealants
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