Isocyanates Market Research Report - Forecast to 2030

Isocyanates Market: By Type (Aromatic Diisocyanate and Aliphatic), By Application (Rigid Foam, Flexible Foam, Adhesives & Sealants, Paints and Coatings, Elastomers, Binders and Others), By End-Use (Building & Construction, Automotive, Furniture, Footwear, Electronics, Packaging, and Others) and By Region-Forecast till 2030

ID: MRFR/CnM/0458-CR | January 2019 | Region: Global | 274 Pages         

Isocyanates Market

Isocyanates Market is projected to be worth USD 16 Billion by 2027, registering a CAGR of 7.03% during the forecast period (2021-2030).

Segmentation

By Type Aromatic Diisocyanate Aliphatic
By Application Rigid Foam Flexible Foam Adhesives & Sealants Paints And Coatings Elastomers Binders Others
By End Use Building & Construction Automotive Furniture Footwear Electronics Packaging Others

Key Players

  • Asahi Kasei Corporation
  • Metsui Chemicals America Inc.
  • Evonik Industries AG
  • LANXESS
  • DowDuPont Inc.
  • Tosoh Corporation
  • Covestro AG
  • BASF SE
  • Wanhua Chemical Group Co. Ltd
  • Huntsman International LLC
  • Vencorex
  • Cangzhua Dahua Group Co. Ltd
  • Komho Mitsui Chemicals Corp
  • China National Bluestar (Group) Co.Ltd.

Drivers

  • Rising consciousness about environment and increased focus on innovation paving the way
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Isocyanates Market Overview


Isocyanates Market is expected to CAGR of 7.03% during the forecast period (2021 - 2030). Isocyanate is produced by treating amines with phosgene. Growing demand in the construction industry getting to its highly reactive chemical property is anticipated to be a key factor driving the market growth. These are utilized in rigid foams, adhesives, and coating. These are used in the electronic industry as insulators and as vehicle exteriors to reduce vehicle weights in the automotive industry. Polyurethane consumption is increasing day by day, and consumer and industrial applications are expected to increase the global market over the foreseeable future.


Increasing demand from the furniture industry, like carpet cushions and mattress padding, is exponentially boosting the isocyanates market. Crude oil pricing is a major thinkable factor in the global oil industry since crude oil is used to produce MDI and TDI. Highly volatile crude oil pricing helps in increasing the isocyanate market all over the world. The global market of isocyanates will depend on the bio-based isocyanates development and bio-based isocyanates will be the new driver of this market.


Synopsis


This MRFR report offers an all-round analysis on the global isocyanates market along with a revenue forecast, which ends in 2023. Forecast on various key sub-markets is available in the report. It also includes impact analysis of all the pertinent market factors. A section of the report offers a detailed analysis of aromatic diisocyanate and aliphatic form a market point of view. Analysis based on scope of application covers rigid foam, flexible foam, paints and coatings, adhesives and sealants, elastomers, binders and others.


Report Coverage


Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the isocyanates market.


Companies Covered


Asahi Kasei Corporation, Metsui Chemicals America, Inc., Evonik Industries AG, LANXESS, DowDuPont, Inc., Tosoh Corporation, Covestro AG, BASF SE, Wanhua Chemical Group Co. Ltd, Huntsman International LLC, Vencorex, Cangzhua Dahua Group Co. Ltd, Komho Mitsui Chemicals Corp, China National Bluestar (Group) Co., Ltd, and Anderson Development.


Research Methodology


Market Research Future implements a range of cautiously chosen methods to create a robust research model. Focusing on veracity, the expert analysts use primary methods such as first-hand interviews with industry decision makers to get an inside look at the industry. After this, the findings from primary methods are affirmed by secondary research methods such as annual reports, SEC filings, and others. To ensure transparency in order to provide reliable market reports, the experts integrate top-down and bottom-up approaches into the research model. This allows data analysts to provide confirmation of many vital market figures to the clients. These figures are then used to provide logical analysis accompanied with apposite industry insights.


Other Description



  • Market Denomination- USD Mn

  • Base Year- 2017

  • Forecast Period- from 2018 to 2023


For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global isocyanates market;


By Type



  • Aromatic diisocyanate

  • Aliphatic


By Application



  • Rigid Foam

  • Flexible foam

  • Paints and coatings

  • Adhesives and Sealants

  • Elastomers

  • Binders

  • Others


By End-Use



  • Building & Construction

  • Furniture

  • Automotive

  • Electronics

  • Packaging

  • Footwear

  • Others


By Region



  • North America

  • Europe

  • Asia Pacific

  • The Middle East & Africa (MEA)

  • Latin America


Intended Audience:



  • Isocyanate market manufacturers

  • Traders and distributors of isocyanate market

  • Production process Industries

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory


Recent Development

The global isocyanates market has an annual growth rate of 7.03% during the 2018-2023 assessment period. There are so many important players in this market like North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Isocyanates market report 2022 has shown industry challenges and risk factors analysis. Isocyanates market reports include revenue by manufacturers and an analysis of the competitive landscape. The global isocyanates market size is estimated to be worth USD 30470 million in 2022 due to the covid pandemic. And this market is forecasted to have an adjusted size of USD 27820 million by 2028 with a CAGR of 1.5% during the review period. The market has been affected by considering the economic change of the health crisis through the pandemic. The market is projected to value USD million NY 2028, growing at a revised CAGR in the post- covid-19 period.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   7.03%
  Base Year   2020
  Forecast Period   2021-2030
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   application, end use and region
  Geographies Covered   Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa
  Key Vendors   Asahi Kasei Corporation, Metsui Chemicals America, Inc., Evonik Industries AG, LANXESS, DowDuPont, Inc., Tosoh Corporation, Covestro AG, BASF SE, Wanhua Chemical Group Co. Ltd, Huntsman International LLC, Vencorex, Cangzhua Dahua Group Co. Ltd, Komho Mitsui Chemicals Corp, China National Bluestar (Group) Co., Ltd
  Key Market Opportunities   The construction sector is playing an important role in boosting the global sales
  Key Market Drivers   Rising consciousness about environment and increased focus on innovation paving the way


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Frequently Asked Questions (FAQ) :

The global isocyanate market has the opportunity to score a CAGR of 7.03% between 2021-2030 (the forecast period).

The isocyanate market would surpass a valuation of USD 37,906.6 million by 2023.

The aromatic diisocyanate would dominate the global isocyanate market.

The rigid foam segment would get a chance to dominate the global isocyanate market.

The building and construction segment would dominate the global isocyanate market.

Global Isocyanates Market: Competitive Landscape


The major players operating in the global isocyanates are DowDuPont, Inc., Asahi Kasei Corporation, Huntsman International LLC, Evonik Industries AG, Vencorex, China National Bluestar (Group) Co., Ltd, Mitsui Chemicals America, Inc., Tosoh Corporation, LANXESS, BASF SE, Covestro AG, Wanhua Chemical Group Co. Ltd, Cangzhou Dahua Group Co. Ltd, Anderson Development, and Kumho Mitsui Chemicals Corp.


The manufacturing companies which collectively account for the majority share of the isocyanates market are Asahi Kasei Corporation, Evonik Industries AG, Mitsui Chemicals America, Inc., Tosoh Corporation, and LANXESS. The market is fragmented and comprises of players which are operational in the Japan, Germany, France, the US, and China. Various strategies such as investment, R&D, expansion, joint venture, and acquisition are adopted by various market players to gain maximum revenue. There is a growing demand from various end-use applications such as rigid and flexible foams, paints and coating, elastomers, binders, and adhesives and sealant among others. There is a strong competition between companies as there are large number of companies manufacturing isocyanates.


Asahi Kasei Corporation under its strategy, Cs for Tomorrow 2018, focuses on creating new businesses through combinations among multifaceted business models, core technologies, and diverse human resources. In addition, it analyses strengths and core technologies for the transformation of its business portfolio.


Evonik Industries AG aims at increasing the value of the company by focusing on three areas—product portfolio, innovation, and corporate culture. Under its portfolio strategy, the company strives to continuously expand its growth in business areas, including specialty additives, healthcare, smart materials, and animal nutrition. It has a presence in more than 100 countries, with production facilities in 28 countries.


Mitsui Chemicals America, Inc. is focusing on market development of specialty products and strives to offer competitive products and technologies. The company is developing new technologies and ground-breaking innovations for developing their product portfolio. Its products are marketed using the global distribution network of its parent company, Mitsui Chemicals, Inc.


Tosoh focuses on a medium-term business plan to continuously generate value for customers, investors, and other stakeholders. It aims at market growth through R&D and acquisitions to cater to the increase in demand in developing economies. Tosoh comprises over 100 companies in Asia-Pacific, Europe, and North America.


In May 2018, LANXESS revealed plans to build a new prepolymers production facility at its site in Porto Feliz, Brazil. This facility is expected to become operational in the first half of 2019. This new investment will enable it to sustainably offer excellent product quality and fast and reliable product supply to the Brazilian and South American markets. The portfolio will include the production of conventional and low free isocyanate prepolymers.