The Toluene Diisocyanate Market size is estimated at 2.45 Million tons in 2024, and is expected to reach 2.69 Million tons by 2029, growing at a CAGR of 1.98% during the forecast period (2024-2029).
Toluene Diisocyanate is a synthetic mixture of the 2,4- and 2,6-isomers, a volatile, colorless pale yellow liquid soluble in many organic solvents. They mainly make polyurethane products, such as rigid and flexible foams, coatings, adhesives, sealants, and elastomers. The growing demand for flexible foam is driving the market growth.
The global toluene diisocyanate market is fragmented due to numerous players with no significant market share. Some major companies are Tosoh Corporation, Simel Chemical Industry Co., Ltd., BASF SE, Covestro AG, and TSE Industries, Inc.
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