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Isocyanates Market Overview, Industry Top Manufactures, Size, Industry Growth Analysis by 2023
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Increasing awareness of energy crisis leading to increasing demand for energy efficient structures coupled with incentives and government regulations to promote energy efficient structures are the major factors driving demand for isocyanates market. Increasing demand for spray polyurethane foam is expected to drive demand for methylene diphenyl isocyanate and toluene di-isocyanate.
Organic compounds that contain an isocyanate group are referred to as isocyanates. Isocyanate is the functional group with the formula R–N=C=O. An isocyanate that has two isocyanate groups is known as a di-isocyanate and those with multiple isocyanate groups are known as polisocyanates.
The global isocyanates market is consolidated and dominated by few major players. Asia-Pacific dominates the global isocyanates market due to high usage of isocyanate in various end-user industries such as construction, electronics and automotive.
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Major competitors in the global isocyanates market are Ashai Kasei Corporation, BASF SE, Bayer MaterialScience AG, Chemtura Corporation, Huntsman International LLC., The Dow Chemical Company, Mitsui Chemicals, Inc., Hebei Cangzhou New Century Foreign Trade Co., Ltd., Evonik Industries Ag, DAHUA GROUP CO., LTD.., Wanhua Chemical Group Co., Ltd. and Vencorex.
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