NEW YORK, United States, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Isocyanate Market Size, Share, Growth Analysis Report By Type (Aromatic Diisocyanate, Aliphatic), By Application (Rigid Foam, Flexible Foam, Adhesives & Sealants, Paints And Coatings, Elastomers, Binders, Others), By End-Users (Building & Construction, Automotive, Furniture, Footwear, Electronics, Packaging, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Isocyanate Market size & share in terms of revenue was valued at USD 12,942.10 million in 2021 and it is expected to surpass around USD 19,313.94 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.90% during the forecast period 2022 to 2028.”
Market Overview:
When water combines with the isocyanate group of phosgene and amines, an organic molecule is created. It is created when phosgene and amines interact. Benzene, crude oil, propylene, toluene, aniline, and aniline are the main ingredients of this extremely reactive compound. Aliphatic isocyanates, toluene diisocyanate (TDI), and methylene diphenyl diisocyanate (MDI) are a few isocyanates that are commonly used. A few industries that use them are furniture, aerospace, automotive, healthcare, and construction. They are generally employed in producing paints, varnishes, sealants, and binders containing polyurethane (PUR).
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 227+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
Market Dynamics
The current and upcoming markets have a strong demand for isocyanate, and technological advancement adds to the market's quick expansion. In particular, it is anticipated that construction and automotive isocyanate-using industries will grow over the next few years, driving up demand for various isocyanate-based products. As a result, isocyanate-based stiff foams, coatings, adhesives, and sealants will be more popular. High prices for raw materials and significant outlays for R&D are a few factors limiting this market's expansion. One important basic ingredient made from crude oil is isocyanate. As a result, the volatility of crude oil prices has affected the cost of raw materials. Major producers are hiking the price of isocyanate in reaction to the growing costs of feedstock.
Isocyanate Market: COVID-19 Impact Analysis
The COVID-19 epidemic started to spread over the globe at the start of 2020. Millions of individuals all across the world were impacted. Globally significant economies have ordered a halt to activities and issued permanent prohibitions. Both the isocyanate sector and the majority of life support industries have had difficult times. There was a labour shortage in the manufacturing unit during the locking down in many parts of the world. During the pandemic, the construction sector suffered which decreased isocyanate demand and slowed the market's expansion for the chemical.
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Segmentation Analysis
The isocyanate market is segregated based on type, application, and end-use. Based on type, the market is divided into aromatic diisocyanate and aliphatic. Among these, the aromatic diisocyanate segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on application, the market is classified into rigid foam, flexible foam, adhesives & sealants, paints and coatings, elastomers, binders, and others. In 2021, the rigid foam category dominated the global market. Based on the end-users, the market is classified into building & construction, automotive, furniture, footwear, electronics, packaging, and others. The building & construction segment dominated the market in 2021.
The global Isocyanate market is segmented as follows:
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
Competitive Landscape
The report contains qualitative and quantitative research on the global isocyanate market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main competitors dominating the global Isocyanate market include -
- 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
- CangzhuaDahua Group Co. Ltd
- Komho Mitsui Chemicals Corp
- China National Bluestar (Group) Co.Ltd.
Browse the full “Isocyanate Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/isocyanate-market
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Isocyanatemarket is likely to expand at a CAGR of around 6.90% during the forecast period (2022-2028).
- In terms of revenue, the Isocyanate market size was valued at around US$ 12,942.10 million in 2021 and is projected to reach US$ 19,313.94 million by 2028.
- By type, the aromatic diisocyanate category dominated the market in 2021.
- By application, the rigid foam category dominated the market in 2021.
- On the basis region, The Asia Pacific dominated the global isocyanate market in 2021.
Regional Analysis:
The isocyanate market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific is anticipated to have a dominating position in the worldwide market for Isocyanate in 2021. China dominates the region as one of the world's top producers and consumers of polyurethane. Most methylene diphenyl diisocyanate (MDI) is used in China to manufacture polyurethanes and their products, including rigid and flexible foam. The expansion of the middle class, rising disposable incomes, and increasing urbanization, alongside strong infrastructure investments, make polyurethane one of MDI's primary applications in India. There is an increase in polyurethane production in Japan. As the market for isocyanates grows, it is likely to be driven by increased production of polyurethane and demand from the construction and automotive industries. Asia-Pacific is therefore likely to dominate the market over the forecast period.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- November 2019: In the field of additive manufacturing (additive manufacturing), Lanxess offers low-free (LF) isocyanate-urethane prepolymers suitable for 3D printing.
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 12,942.10 Million |
| Projected Market Size in 2028 | USD 19,313.94 Million |
| CAGR Growth Rate | 6.90% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market 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, CangzhuaDahua Group Co. Ltd, Komho Mitsui Chemicals Corp, China National Bluestar (Group) Co.Ltd., and Others |
| Key Segment | By Type, Application, End Use, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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