Isocyanates are basically organic compounds consist of the -N=C=O group. When these two of these groups are attached to a compound, the group is known as a di-isocyanate. There are mainly two types of isocyanate compounds, such as aromatic isocyanates and aliphatic isocyanates. Aromatic isocyanates mainly involve direct attachment of an NCO group along with aromatic rings. Aromatic isocyanates are used in the production of polyurethane foam, which is further formed by a reaction between aromatic isocyanates as well as polyols in the presence of a catalyst. Aromatic Isocyanates are also used in the production of flexible or rigid foam, elastomers, and protective coatings. These compounds are also highly reactive & toxic in nature. Due to their toxic nature, special care is taken while handling and during production. Raw materials used for the production of aromatic isocyanates include toluene, benzene, aniline, and among others. Toluenediisocyanate (TDI) and Methylenediphenyl diisocyanate (MDI) these two aromatics which are mostly utilized in construction industry applications for manufacturing rigid foam.
MARKET DYNAMICS
The aromatic isocyanates market has witnessed a significant growth owing to factors such as wider application in polyurethane foam, elastomers, adhesive & sealant, coating, and others in various end-use industries, including construction, packaging, furniture, transportation, chemical, and others. The demand for aromatic isocyanates is increasing due to a rise in demand for polyurethane foam, especially in the construction industry. The demand for adhesives as well as protective coatings and their growing applications are expected to, in turn, propel the growth in demand for aromatic isocyanates over the forecast period. However, fluctuating prices of raw materials utilized to produce aromatic isocyanates may hamper the growth of the aromatic isocyanates market. Also, various stringent regulations from government associations such as OSHA, REACH, among others, on the production of aromatic isocyanates restrict the growth of this market. Nevertheless, aromatic isocyanates are generally available in small quantities; if bulk production is made possible, it will create a new opportunity for the growth of the market.
MARKET SCOPE
The "Global Aromatic Isocyanates Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aromatic isocyanates market with detailed market segmentation by type, application, end-use, and geography. The global aromatic isocyanates market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading aromatic isocyanates market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global aromatic isocyanates market is segmented on the basis of type, application, and end-use. On the basis of type, the aromatic isocyanates market is segmented into toluenediisocyanate (TDI), methylenediphenyl diisocyanate (MDI), naphthalene 1,5-diisocyanate (NDI), P-phenylene diisocyanate (PPDI), and others. The aromatic isocyanates market on the basis of the application is classified into polyurethane foam, elastomers, adhesive & sealant, coating, and others. On the basis of end-use, global aromatic isocyanates market is bifurcated into construction, packaging, furniture, transportation, chemical, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global aromatic isocyanates market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The aromatic isocyanates market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the aromatic isocyanates market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the aromatic isocyanates market in these regions.
MARKET PLAYERS
The reports cover various key developments in the global aromatic isocyanates market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aromatic isocyanates market are anticipated to lucrative growth opportunities in the future with the rising demand for aromatic isocyanates in the global market. Below mentioned is the list of few companies engaged in the aromatic isocyanates market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aromatic isocyanates market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Vencorex
- BASF SE
- Cangzhou Dahua Group Co., Ltd.
- Chemtura Corporation
- Covestro AG
- Dow Chemicals
- Gujarat Narmada Valley Fertilizers & Chemicals Limited
- Mitsui Chemicals Inc.
- Wanhua Chemical Co., Ltd
- Others
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