Global Isocyanates Market to Reach US$ 49.8 Billion by 2032, Propelled by the Significant Increasing Building and Construction Activities

April 21, 2023 | Chemical & Materials

The latest report by IMARC Group, titled “Isocyanates Market Report by Type (Methylene Diphenyl Diisocyanate (MDI), Toluene Diphenyl Diisocyanate (TDI), Aliphatic Isocyanates, and Others), Manufacturing Process (Phosgenation Process, Nonphosgenation Process), Application (Rigid Foam, Flexible Foam, Paints and Coatings, Adhesives and Sealants, Elastomers, Binders, and Others), End-Use Industry (Building and Construction, Automotive, Healthcare, Furniture, and Others), and Region 2024-2032,” finds that the global Isocyanates market size reached US$ 30.4 Billion in 2023. Isocyanate is an organic compound generated through the reaction of phosgene and amines with water. It is produced from raw materials such as aniline, crude oil, propylene, toluene, and benzene. Some commonly used isocyanates include methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), and aliphatic isocyanate. They highly react to polyurethane polymers and are mainly used to produce polyurethane (PUR)-based foams, paints, coatings, binders, sealants, laminated fabrics, surface laminating products, cabinets, and polyurethane rubbers. At present, isocyanate is widely adopted in the automotive, furniture, construction, healthcare, and aerospace industries across the globe.

Global Isocyanates Market Trends:

The market is primarily driven by increasing building and construction activities. In addition, the surging demand for rigid polyurethane (PU) foam as insulated panels, roof and wall insulation, and gap fillers for windows and doors due to their exceptional insulation properties is contributing to the market growth. Moreover, various product innovations, such as the development of bio-based variants and the rising environmental awareness among individuals, resulted in an inclination toward green polyurethanes and renewable isocyanates, which represents another major growth-inducing factor. Besides this, the widespread product adoption in the automotive industry for producing exterior components of automobiles to lower vehicle weight, save energy, enhance fuel efficiency, and reduce emissions which is providing a positive thrust to the market growth. Furthermore, extensive research and development (R&D) activities conducted by the leading market players and the implementation of favorable policies to encourage the construction of energy-efficient structures are also propelling the global market outlook. Looking forward, IMARC Group expects the market value to reach US$ 49.8 Billion by 2032, exhibiting a CAGR of 5.5% during the forecast period (2024-2032).

Market Summary:

Based on the type, the market has been classified into methylene diphenyl diisocyanate (MDI), toluene diphenyl diisocyanate (TDI), aliphatic isocyanates and others.
On the basis of the manufacturing process, the market has been bifurcated into the phosgenation and nonphosgenation processes.
Based on the application, the market has been segregated into rigid foam, flexible foam, paints and coatings, adhesives and sealants, elastomers, binders, and others.
On the basis of the end use industry, the market has been categorized into building and construction, automotive, healthcare, furniture, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The report has also analyzed the competitive landscape of the market, with some of the key players being Anderson Development Company, Asahi Kasei Corporation, BASF SE, Bayer AG, Cangzhou Dahua Group Co. Ltd. (China National Agrochemical Corporation), Covestro AG, Evonik Industries AG, Huntsman Corporation, Mitsui Chemicals, The Dow Chemical Company, Wanhua Chemical Group Co. Ltd., etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Manufacturing Process, Application, End-Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Anderson Development Company, Asahi Kasei Corporation, BASF SE, Bayer AG, Cangzhou Dahua Group Co. Ltd. (China National Agrochemical Corporation), Covestro AG, Evonik Industries AG, Huntsman Corporation, Mitsui Chemicals, The Dow Chemical Company and Wanhua Chemical Group Co. Ltd.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Isocyanates Market to Reach US$ 49.8 Billion by 2032, Propelled by the Significant Increasing Building and Construction Activities

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.