Isocyanates Market type Phenomenal Growth, Booming Share, Key Players Review, Industry Segments and Business Development by 2027
The isocyanates market is exhibiting an increasing level of demand due to the escalating use of isocyanates that are commonly used as a raw material in the production of polyurethane. The market for isocyanates is projected to achieve revenue levels worth USD 37,906.6 million while expanding with a CAGR of 7.03% in the duration of the forecast period from 2018 to 2023. The expansion of the application base of the isocyanates market is projected to boost the progress of the market in the coming years. The prominent use of diisocyanates in methylene toluene diisocyanate (TDI) and diphenyl diisocyanate (MDI) is expected to alter the progress of the isocyanates market in the coming years. The growth in demand for major end-use industries such as automotive, furniture, building and construction, electrical and electronics, and apparels are key drivers projected to spur the progress of the isocyanates market in the forecast period. Furthermore, the demand for lightweight and energy effic