Global Isocyanates Market Size study & Forecast, 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, Au

Global Isocyanates Market Size study & Forecast, 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 Regional Analysis, 2023-2030

Global Isocyanates Market is valued at approximately USD 29.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.03% over the forecast period 2023-2030. The isocyanates refer to chemical compounds used in the production of polyurethane materials, such as foams, coatings, adhesives, and sealants. The Isocyanates market is expanding because of factors such as increasing construction activities and rising demand of automobiles. Moreover, the rising automotive industry has a significant impact on the isocyanates market, increasing demand for polyurethane materials in the production of lightweight components, foams, and coatings.

According to Statista in 2021, the global automotive manufacturing market had a value of approximately USD 2.86 trillion and reached around USD 2.95 trillion in 2022. Moreover, car sales grew to around 67.2 million automobiles in 2022, up from around 66.7 million units in 2021. Furthermore, the increasing demand from the construction industry has a significant impact on the isocyanates market, as isocyanates are widely used in the production of polyurethane materials for construction applications such as insulation, coatings, adhesives, and sealants. According to Statista in 2023, the global construction industry is anticipated to reach a value of USD 14.4 trillion in 2030, showing significant growth from its 2020 value of USD 6.4 trillion. In addition, advancements in formulation of isocyanates and increasing focus on energy efficient solutions would create a lucrative growth opportunity. However, growing environmental & health concerns and complex manufacturing processes stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Isocyanates Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific dominates the market during the forecast period owing to the increase construction activities, and rising number of automobiles in the region. North America is the fastest growing region during the forecast period, owing to factors such as growing emphasis on energy efficient solutions and increase in stringent environmental restrictions is expected to further increase the market growth in the region.

Major market player included in this report are:
Asahi Kasei Corporation
Stahl Holdings B.V.
Badische Anilin & Sodafabrik (BASF) SE
Cangzhou Dahua Co., Ltd
Chemtura Corporation
Yantai Wanhua Polyurethanes Co. Ltd.
Mitsui Chemicals Inc.
Dow, Inc.
Huntsman Corporation
Kumho Mitsui Chemicals Inc

Recent Developments in the Market:
 In July 2022, BASF is completing the final phase of the expansion project for its Verbund facility in Geismar, Louisiana's methylene diphenyl diisocyanate plant. BASF raise its production capacity to 600,000 metric tonnes per year by the middle of the decade with this third phase of its multiphase capacity development, supporting the continuous growth of its North American MDI clients. The company began the expansion project in 2018 with a phased approach that included three investment rounds. The last expansion phase, from 2022 to 2025, will cost $780 million.


Global Isocyanates Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Application, End-Use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

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

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
Asahi Kasei Corporation
Stahl Holdings B.V.
Badische Anilin & Sodafabrik (BASF) SE
Cangzhou Dahua Co., Ltd
Chemtura Corporation
Yantai Wanhua Polyurethanes Co. Ltd.
Mitsui Chemicals Inc.
Dow, Inc.
Huntsman Corporation
Kumho Mitsui Chemicals Inc

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.