Isocyanates Market Research Report, Market Share, Size, Trends, Forecast and Analysis of Key players 2024

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The global isocyanates market grew at a CAGR of around 7% during 2014-2019. Isocyanate is a highly reactive organic compound containing isocyanate group (-NCO) molecules. It is formed by the reaction of phosgene and amine with water. Isocyanates are produced from raw materials, including crude oil, propylene, toluene, aniline, and benzene. Few common types of isocyanates include aliphatic isocyanate, methylene diphenyl diisocyanate (MDI), and toluene diisocyanate (TDI). They are extensively used across various industries for producing polyurethane (PUR)-based foams, paints, coatings, sealants, binders, and sealants.

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The surging demand for isocyanate-based products in the automotive and construction industry has augmented the product demand. They are used on the exterior components of automobiles to reduce the overall vehicular weight and improve the fuel-efficiency. In the construction industry, isocyanates are used in rigid PU foams for insulating panels, and gap fillers in the spaces around doors and windows. Furthermore, numerous advancements, such as the introduction of bio-based variants, are also driving the market for isocyanates. Additionally, rising environmental concerns have led to the emergence of green polyurethanes and renewable isocyanates. In line with this, the implementation of favorable government policies for promoting the need for energy-efficient infrastructures is also fostering the growth of the isocyanates market.

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Breakup by Type:

  • Methylene Diphenyl Diisocyanate (MDI)
  • Toluene Diphenyl Diisocyanate (TDI)
  • Aliphatic Isocyanates
  • Others

Breakup by Manufacturing Process:

  • Phosgenation Process
  • Nonphosgenation Process

Breakup by Application:

  • Rigid Foam
  • Flexible Foam
  • Paints and Coatings
  • Adhesives and Sealants
  • Elastomers
  • Binders
  • Others

Breakup by End-Use Industry:

  • Building and Construction
  • Automotive
  • Healthcare
  • Furniture
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Anderson Development Company, Asahi Kasei Corporation, BASF SE, Bayer AG, Cangzhou Dahua Group Co. Ltd. (China National Agrochemical Corporation), Covestro AG, Evonik Industries AG, Huntsman Corporation, Mitsui Chemicals, The Dow Chemical Company, Wanhua Chemical Group Co. Ltd., etc.

Browse Related Report

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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