Worldwide Isocyanates Market 2030 by Regional Analysis, Classification, Applications, Development Factors | Cropenergies AG (Germany),Cristal Union (France)
Research Reports
May 25, 2022
Isocyanates Market Overview –
Because of its chemically reactive characteristics and use in the production of adhesives, foams, and elastomers, the worldwide isocyanates market is seeing consistent demand in the construction industry. One of the major drivers of isocyanate sales is the increase in vehicle production in countries such as China, Mexico, Japan, the United States, and Germany, as well as vehicle aging. The industry makes a number of intermediate chemicals that are used in numerous applications.
The global isocyanates market is expected to post a compound annual growth rate of 7.03% during the assessment period (2020-2028). Most high-quality, long-lasting coatings contain isocyanates, which are present in a significant portion of the structured and industrial products available. The current situation of high demand for this futuristic material encourages manufacturers to invest more and expand their product portfolio in order to build a large customer base and gain a significant market share in the isocyanates market.
Over the next few years, the possible uses for these products in end-use industries are expected to be a key factor in the global isocyanates market’s growth. Isocyanates are currently widely used in paints and varnishes, and growth of the market from the furniture industry, such as carpet cushioning, is expected to propel the global isocyanate market to new heights.
Because crude oil is used to make MDI and TDI, highly volatile crude oil pricing is a major factor limiting global market growth over the forecast period. The highly toxic and hazardous nature of isocyanates, combined with polyurethane’s heavy reliance on fossil fuels, may limit global market growth. Furthermore, the use of certain polyurethane coatings, glues, and foams causes asthma symptoms, which is expected to restrain market growth over the forecast period.
Over the forecast period, Asia Pacific is expected to grow significantly, with China and India driving the majority of demand. Growing end-use sectors in China and India, such as building projects, electronics, and automobiles, are predicted to supplement Asia Pacific market growth during the forecast period. North America is expected to have moderate demand over the forecast period, owing to increased regulatory action from organizations such as the Environmental Protection Agency (EPA) regarding the environmental and health effects of MDI and TDI. Because of strict environmental regulations and low growth in end-use industries, Europe is expected to grow slowly. The global isocyanates industry is moderately centralized, with major players competing for leadership positions in Asia Pacific through capacity growth. Vencronex, for example, has begun expanding its aliphatic isocyanate plant in Thailand, which will be operational by 2016.
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Isocyanates Market: Prominent Players
Cropenergies AG (Germany),Cristal Union (France),Archer Daniels Midland Company (U.S.),Petrobras (Brazil), Tereos (France),Alcogroup (Serbia),DowDuPont (U.S.),BlueFire Renewables Inc. (U.S.),Pannonia Bio (Hungary),Valero Marketing and Supply Company (U.S.),BP PLC (U.K.), and others.
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Market Segmentation
Breakup by Type:
- Methylene Diphenyl Diisocyanate (MDI)
- Toluene Diphenyl Diisocyanate (TDI)
- Aliphatic Isocyanates
- Others
Breakup by Manufacturing Process:
- Phosgenation Process
- Non Phosgenation 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
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Regional Classification
The global isocyanates industry is fragmented into regions such as Europe, North America, Asia-Pacific, the Middle East, Latin America, and Africa.
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