Isocyanates Market Size 2022-2030
As per the analysis conducted by Market Research Future (MRFR), the global isocyanates market is estimated to procure the market value of USD 37,906.6 million, while growing at a CAGR of 7.03% during the evaluation period from 2018 to 2023. The extensive application of diisocyanate in methylene toluene diisocyanate (TDI) and diphenyl diisocyanate (MDI) is estimated to be one of the most significant factors expanding the global isocyanates market in 2022-2030.
Key Players
The renowned players of the global isocyanates market are Metsui Chemicals America, Inc., Asahi Kasei Corporation, Evonik Industries AG, DowDuPont, Inc., LANXESS, Tosoh Corporation, BASF SE, Covestro AG, Wanhua Chemical Group Co. Ltd, Vencorex, Cangzhua Dahua Group Co. Ltd, Huntsman International LLC, Komho Mitsui Chemicals Corp, Ltd, Anderson Development, and China National Bluestar (Group) Co.
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The growing demand for energy-efficient and lightweight construction materials is likely to enhance market growth during the forecast period. Further, the growing environmental concerns are projected to increase the demand for rigid polyurethane foams globally. The market is also anticipated to benefit from the development of high-efficiency bio-based isocyanates, along with the increasing investment in R&D.
In addition, the fast expansion of the flourishing building and construction industry, with the rising demand for residential construction, is projected to be a significant factor in market growth during the forecast period. Besides, the increased demand for primary end-use industries like furniture, automotive, building and construction, and electrical and electronics are anticipated to fuel the market at a global front. Also, the emerging economies are projected to play an efficient role in fueling the market in the forthcoming period.
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Market Segmentation
The segment analysis of the global isocyanates market is done by type, application, and end-use.
The type-based segments of the global isocyanates market are aromatic diisocyanates, aliphatic, and others.
The application-based segments of the global isocyanates market are rigid foam, flexible foam, paints & coatings, adhesive & sealants, elastomers, binders, and others
The end-user based segments of the global isocyanates market are building & construction, furniture, automotive, packaging, electronics, footwear, and others.
Regional Analysis
Based on the region, the global market for the Isocyanates Market Size is segmented into Europe, Asia-Pacific, North America, Latin America, and the Middle East and Africa.
As per the analysis, the APAC region dominated the global market by acquiring a notable market share of 47.80% in 2017. Further, the region is projected to expand at the highest CAGR with a substantial market value of USD 18,800.4 million by 2023. The presence of developing countries like India, China, Japan, and their constant effort to advance their countries with strapping urbanization and industrialization are predominant factors strengthening the regional market. Further, the magnification of industries such as automotive in India and China is predicted to boost the regional market efficiently. Also, the growing disposable income in developing countries is estimated to strengthen the regional market further.
The second position is projected to be taken by Europe. Europe acquired a market value of USD 5,788.0 million in 2017 and propelled at a significant CAGR. The market may be negatively impacted owing to the strict environmental regulations and sluggish growth in end-use industries.
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North America is likely to witness a decent record during the forecast period owing to the increased regulatory intervention from agencies such as EPA regarding environmental and health impact associated with MDI and TDI.
On the other hand, the MEA is estimated to procure the least market share owing to the presence of underdeveloped economies.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 25
2.2 Scope Of The Study 25
2.3 List Of Assumptions 25
2.4 Market Structure 26
2.5 Key Takeaways 26
3 Market Insights
4 Research Methodology
4.1 Research Process 32
4.2 Primary Research 33
4.3 Secondary Research 33
4.4 Market Size Estimation 34
4.5 Forecast Model 35
5 Market Dynamic
5.1 Global Isocyanates Market 37
5.1.1 Introduction 37
5.1.2 Drivers 38
5.1.2.1 Strong Growth In PU Foam Application Areas 38
5.1.2.2 Significant Growth Of Industrial Base In Emerging Markets 39
5.1.2.3 Rising Demand In Construction Industry 39
5.1.2.4 Drivers Impact Analysis 40
5.1.3 Restraints 41
5.1.3.1 Growing Environmental Regulations 41
5.1.3.2 Availability Of Isocyanate-Free Polyurethane Foam 41
5.1.3.3 Restraints Impact Analysis 42
5.1.4 Opportunities 42
5.1.4.1 High-Efficiency Bio-Based Isocyanates And Continuous Spending In R&D Activities 42
5.1.4.2 Capacity Expansion To Meet Global Demand 43
5.1.5 Challenge 43
5.1.5.1 Raw Material Availability And Price Instability 43
5.2 Europe Isocyanate Market 44
5.2.1 Introduction 44
5.2.1 Drivers 45
5.2.1.1 Growth Of The Polyurethane Market In Eastern Europe 45
5.2.1.2 Increased Residential Construction 45
5.2.1.3 High Adoption Rate Of Electric Vehicles 45
5.2.1.4 Drivers Impact Analysis 46
5.2.2 Restraints 46
5.2.2.1 Stringent Environmental Regulations 46
5.2.2.2 Shift To The Use Of High-Performance And Isocyanate-Free Polyurethane Foam 46
5.2.2.3 Restraints Impact Analysis 47
5.2.3 Opportunities 47
5.2.3.1 Development Of Bio-Based Isocyanates 47
5.2.3.2 Increased Civil Engineering Construction 48
5.2.4 Challenges 48
5.2.4.1 Volatility In Raw Material Availability And Price 48
5.2.4.2 Sluggish Growth Of The Construction Industry In Western And Northern Europe 48
6 Market Factor Analysis
6.1 Global Supply Chain Analysis 50
6.1.1 Raw Material Suppliers 50
6.1.2 Isocyanates Manufacturers 50
6.1.3 Distribution Channel 51
6.1.4 End-Use Industry 51
6.2 Europe Supply Chain Analysis 51
6.2.1 Raw Material Suppliers 51
6.2.2 Isocyanates Manufacturers 52
6.2.3 Distribution Channel 52
6.2.4 End-Use Industry 52
6.3 Global Porter’s Five Forces Model 52
6.3.1 Threat Of New Entrants 53
6.3.2 Threat Of Rivalry 53
6.3.3 Threat Of Substitutes 53
6.3.4 Bargaining Power Of Suppliers 53
6.3.5 Bargaining Power Of Buyers 53
6.4 Europe Porter’s Five Forces Model 54
6.4.1 Threat Of New Entrants 54
6.4.2 Threat Of Rivalry 54
6.4.3 Threat Of Substitutes 54
6.4.4 Bargaining Power Of Suppliers 55
6.4.5 Bargaining Power Of Buyers 55
6.5 Pricing Analysis, 2015 – 2018 (USD/TON) 55
6.6 Raw Material Pricing Trends, 2015–2020 (USD/TON) 58
7 Global Isocyanates Market, By Type
7.1 Introduction 60
7.2 Aromatic Diisocyanates 61
7.2.1 MDI 63
7.2.2 TDI 65
7.3 Aliphatic 66
7.4 Others 67
8 Global Isocyanate Market, By Application
8.1 Introduction 70
8.2 Rigid Foam 72
8.3 Flexible Foam 73
8.4 Paints & Coatings 74
8.5 Adhesive & Sealants 75
8.6 Elastomers 76
8.7 Binders 77
8.8 Others 78
9 Global Isocyanate Market, By End-Use
9.1 Introduction 80
9.2 Building & Construction 82
9.3 Furniture 83
9.4 Automotive 84
9.5 Packaging 85
9.6 Electronics 86
9.7 Footwear 87
9.8 Others 88
10 Global Isocyanate Market, By Region
10.1 Introduction 90
10.2 North America 96
10.2.1 US 100
10.2.2 Canada 104
10.3 Europe 107
10.3.1 Germany 113
10.3.2 UK 116
10.3.3 Russia 120
10.3.4 France 123
10.3.5 Spain 127
10.3.6 Italy 130
10.3.7 Poland 134
10.3.8 Hungary 137
10.3.9 Turkey 141
10.3.10 Croatia 144
10.3.11 The Czech Republic 148
10.3.12 Rest Of Europe 151
10.4 Asia-Pacific 155
10.4.1 China 160
10.4.2 Japan 163
10.4.3 India 167
10.4.4 South Korea 170
10.4.5 Australia & New Zealand 174
10.4.6 Malaysia 177
10.4.7 Thailand 181
10.4.8 Indonesia 184
10.4.9 Rest Of Asia-Pacific 188
10.5 Middle East & Africa 191
10.5.1 Saudi Arabia 196
10.5.2 UAE 199
10.5.3 Israel 203
10.5.4 Egypt 206
10.5.5 Rest Of The Middle East And Africa 210
10.6 Latin America 213
10.6.1 Mexico 218
10.6.2 Brazil 221
10.6.3 Argentina 225
10.6.4 Rest Of Latin America 228
11 Competitive Landscape
11.1 Competitive Landscape 233
11.1.1 Introduction 233
11.1.2 Key Development Analysis 233
11.1.3 Market Strategy Analysis 235
12 Company Profile
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