Global isocyanate market research information: type (methylene diphenyl diisocyanate, toluene diisocyanate, aliphatic isocyanate), application (rigid foams, flexible foams,) end-user industry (automobiles, construction, electronics) – Forecast till 2023
November 9, 2018 —
Isocyanate Market Research Report- Forecast to 2023
Among the various application type in isocyanate market, rigid foam is anticipated to grow at an expanding CAGR followed by the flexible foam segment. Among the type segment, methylene diphenyl diisocyanate is mainly used in the production of rigid polyurethane foams and is also used in other applications such as paints & coatings, sealants and adhesives, and elastomers. Toluene diisocyanate product type segment is mainly used in the manufacturing of flexible polyurethane foams. The automotive, building & construction and electronic industry are the major end-use industries driving the growth of the global market.
Global Top 10 Key Players
Some of the prominent players operating in the Global isocyanate market are Ashai Kasei (Japan), BASF SE (Germany), Bayer MaterialScience (Germany), Chemtura Corporation (U.S.), Dow Chemical Company ( U.S.), Evonik Industries (Germany), Hebei Cangzhou Dahua Group Co. Ltd (China), Huntsman Corporation (U.S.), Kumho Mitsui Chemicals Inc ( South Korea), Mitsui Chemicals Inc ( Japan), Vencorex (France), and Yantai Wanhua Polyurethanes Co. Ltd. (China)
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The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Isocyanate market manufacturers
Traders and Distributors of Isocyanate market
Production Process Industries
Raw Material Suppliers
The isocyanate market is spanned across five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these, Asia Pacific is the leading region in the market and is expected to grow at an encouraging CAGR during the forecast period. The rapid growth of the industries and urbanization is fuelling the growth of the isocyanate in the developing countries of Asia Pacific. Moreover, the favorable government regulations such as tax benefits and incentives in the region have attracted many industry players to enter the market of Asia Pacific, which, in turn, is fuelling the market growth.The European market is a lucrative market mainly driven by the developed automobile and electrical sector. The growing use of isocyanate in paints & coatings, additives and sealants, and flexible & rigid foams has propelled the demand for the automotive and electrical & electronic sector.
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Furthermore, the presence of most populated economies such as China and India has surged the construction and automobile sector, which is further contributing to the market growth. China, India, and Japan are the largest consumers of isocyanate in this region. North America is another dominant region in the global isocyanate market. The developed end-user industries such as construction, transportation and electronics among others are significantly contributing to the growth of the market. Moreover, growing investment in the construction and remodeling of infrastructure mainly in the U.S. and Canada boost the demand further.
The global isocyanate market is segmented into product type, application, and end-user industry. On the basis of the product type, the market is segmented into methylene diphenyl diisocyanate, toluene diisocyanate, an aliphatic isocyanate, and another isocyanate. On the basis of the application, the global isocyanate market is segmented into rigid foams, flexible foams, paints & coatings, elastomers & binders, adhesives & sealants, and others. On the basis of the end-use industry, the market is further segmented into automotive, building & construction, electrical and electronics, and others.
Organization: Market Research Future
This news is published on Reuters.