Isocyanates Market Size 2021 Industry Share, Global Trend, Development Growth, Upcoming Demand, Regional Outlook till 2027

Overview

The global Isocyanates market, during the forecast period 2018-2023, will register growth at a CAGR of 7.03%. The market for isocyanates is set to reach US$37,906.6 million by 2023. As per market analysts, the global market is anticipated to witness growth owing to the factors such as tremendous growth across end-use industries as well as emerging economies. However, the market will face challenges and restraints due to market slowdown and poor economic conditions during the forecast period 2018-2023.

Rising consciousness about the environment in the market is set to play a key role in determining the growth potential during 2018-2023 years. Analysts have also studied the isocyanates market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across application, end-use industry, and type segments, factors such as economic slowdown across different countries could slow down the isocyanates market's growth worldwide.

Market Segmentation

The isocyanates market has been segmented into application, end-use industry, and type. Based on the segment which is application, the market is categorized on the basis of adhesives & sealants, binders, elastomers, flexible foam, paints and coatings, rigid foam, and others. The global market for isocyanates is further segmented based on the end-use industry into automotive, building & construction, electronics, footwear, furniture, packaging, and others. Furthermore, the market, on the basis of type, is segmented into aromatic diisocyanate and aliphatic.

The global market research report covers all the aspects of the Isocyanates Market based on the segmental analysis of these application, end-use industry, and type segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The application, end-use industry, and type segments along with their sub-segments have been analyzed and companies functioning in the isocyanates market across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the isocyanates market.

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Regional Overview

Decreasing demand for the product across certain industry channels may hinder the market growth. The market research report suggests that companies in the market could be supported by increased focus on innovation paving the way for market players as well as construction and automotive industry growth during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional isocyanates markets will dominate the global market for isocyanates during the forecast period 2018-2023. As per market analysts, the market is set to witness tremendous growth across automotive, building & construction, and electronics segments in North America which covers isocyanates markets across the United States, Canada, Mexico and several other regional markets. Companies active in the isocyanates market are also analyzed and studied in the market research report.

Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering isocyanates markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Isocyanates have seen increased demand over the years, due to rising consciousness about the environment and increased focus on innovation. Companies functioning in the global market are also being challenged due to slow demand across industry segments and environmental concerns. Mergers and acquisitions by isocyanates market companies are anticipated to help the market during the forecast period 2018-2023. As the market is set to register a high CAGR of 7.03% and is also anticipated to reach a US$37,906.6 million by 2023, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2023. Based on SWOT analysis and isocyanates market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by isocyanates market companies are anticipated to help the market during the forecast period 2018-2023.

Industry News

Dow has chosen Univar Inc. (Univar Solutions) as a primary North American channel to market, selling Dow's diverse commodity line of polyols and isocyanates. Univar Solutions, a new company formed by the merger of Univar and Nexeo Solutions, is ready to act as an approved distributor for Dow's breakthrough polyurethane products in the United States and Canada. The synergy needed to help downstream formulators evolve and expand is the strength of Dow's broad solution sets combined with Univar Solutions' consumer experience.

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