Toluene Diisocynate Market Projected to Show Strong Growth by 2026

Posted by Andre on October 15th, 2019

Toluene diisocynate is a type of organic chemical compound that is used in the various forms of production of polyurethane. Although, its application is not just limited in the production of polyurethane it is also used as an octane booster for gasoline, as well as production of other chemical compounds ranging from phenol, nitrobenzene and benzoic acid. Global toluene diisocynate market is expected to register a steady CAGR of 4.45% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. Some of the leading key players profiled in this study: BASF SE; Dow; Tosoh Corporation; Wanhua Chemical Group Co.,Ltd.; Yantai Juli Fine Chemical Co., Ltd.; Vencorex Holding SAS; OVERSEAS POLYMERS PVT. LTD.; GNFC Limited; OCI COMPANY Ltd.; Hanwha Group; LANXESS; Covestro AG; China National Bluestar (Group) Co,Ltd. and Anderson Development among others.

Segmentation: Global Toluene Diisocynate Market

By Forms

  •          2,4-Toluene Diisocynate
  •          2,6-Toluene Diisocynate

By Application

  •          Flexible Foam
  •          Rigid Foam
  •          Coatings
  •          Adhesives & Sealants
  •          Binders
  •          Elastomers

By End-Users

  •          Wood/Furniture
  •          CASE
  •          Automotive
  •          Diverse Industries

By Geography

North America

  •          U.S.
  •          Canada
  •          Mexico

Europe

  •          Germany
  •          France
  •          Italy
  •          U.K.
  •          Belgium
  •          Spain
  •          Russia
  •          Turkey
  •          Netherlands
  •          Switzerland
  •          Rest of Europe

Asia-Pacific

  •          Japan
  •          China
  •          India
  •          South Korea
  •          Australia
  •          Singapore
  •          Malaysia
  •          Thailand
  •          Indonesia
  •          Philippines
  •          Rest of Asia-Pacific

South America

  •          Brazil
  •          Argentina
  •          Rest of South America

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Market Drivers:

  •          High growth of the automobile demand is expected to have a positive impact on the growth of the market
  •          Increasing utilization of the product from mattresses and other associated products manufacturing is expected to boost the market growth
  •          Growth in demand for polyurethane foams and other forms of polyurethane product is also driving the market growth
  •          Growing utilization of polyurethanes in furniture construction due to the growth of residential urbanization activities is also expected to propel the market growth

Market Restraints:

  •          Concerns regarding the vulnerable nature of crude oil prices which is expected to hinder the growth of the market
  •          Increasing presence of strict regulatory compliances regarding the environment due to the prevalence of harmful substances in the composition of toluene diisocynates is expected to restrict the market growth

Competitive Analysis:

Global toluene diisocynate market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of toluene diisocynate market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Andre

About the Author

Andre
Joined: August 28th, 2019
Articles Posted: 300

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