Aromatic Isocyanates Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2033

Aromatic Isocyanates Market are organic compounds containing -N=C=O groups. When two of these functional groups are bonded to a compound, in this case the group is known as an isocyanate. There are two types of isocyanate compounds. Aromatic isocyanates and aliphatic isocyanates. Aromatic isocyanates contain a direct attachment of an NCO group and an aromatic ring.

Aromatic isocyanates are mainly used in the production of polyurethane foam. It is formed by the reaction between an aromatic isocyanate and a polyol in the presence of a catalyst. Aromatic isocyanates are commonly used in the production of particularly flexible or rigid foams, elastomers and protective coatings. These compounds are highly reactive and toxic in nature. Because it is toxic, special care is taken during handling and production. The raw materials used for the production of aromatic isocyanates are usually toluene, benzene, aniline, etc. Toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI) are two aromatics mainly used in the construction industry for the manufacture of rigid foams.

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Global Aromatic Isocyanates Market: Dynamics

The demand for aromatic isocyanates is driven by the growing demand for polyurethane foam, especially in the construction industry. Second, increasing demand for adhesives and protective coatings and their applications is expected to drive the growth in demand for aromatic isocyanates over the forecast period. These two factors are expected to fuel the growth of the aromatic isocyanates market.

The price of raw materials used in the production of aromatic isocyanates is highly dependent on the price of crude oil. This means that the price volatility is relatively large, which is a major constraint on the aromatic isocyanate market. Various stringent regulations for the production of aromatic isocyanates by governmental associations such as OSHA, REACH, etc. restrict the growth of this market. Growing demand for bio-based chemicals and initiatives in developed countries such as the United States and EU-5 countries are expected to influence the demand for aromatic isocyanates. Aromatic isocyanates are also produced through complex processes that require a controlled environment for operator safety and process operation. Aromatic isocyanates are generally available in small amounts.

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Global Aromatic Isocyanates Market: Regional Outlook

North America is expected to dominate the global aromatic isocyanates market during the forecast period owing to increasing demand from the construction industry and adhesives market. Europe is projected to be the second largest market in terms of consumption owing to the strong presence of major end users. Europe is expected to record relatively weak growth.

In the Asia Pacific region, the presence of emerging economies such as China and India and growing demand from the aromatic isocyanates industry are expected to boost the demand over the forecast period. Asia Pacific is expected to register a healthy CAGR during the forecast period. China is expected to be a major consumer and thus will hold a major market share. Japan, Middle East and Africa are expected to register relatively slower growth over the forecast period.

Examples of some of the market participants in the global aromatic isocyanates market identified across the value chain include:

• Vencorex
• Dow Chemical Company
• BASF SE
• Wanhua Chemical Co. Ltd.
• Covestro AG
• Huntsman Corporation
• Cangzhou Dahua Group Co. Ltd.
• Mitsui Chemicals Inc., Chemtura Corporation
• and Gujarat Narmada Valley Fertilizers & Chemicals Limited.

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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using appropriate assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, compound types, end uses and applications.

TABLE OF CONTENT FOR THIS REPORT

• Aromatic Isocyanates Market Overview and Analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
• Aromatic Isocyanates Market Overview and Analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
• Global Aromatic Isocyanates Market Analysis and Forecast By Product Type
• Global Aromatic Isocyanates Market Analysis and Forecast By Application Type
• Global Aromatic Isocyanates Market Analysis and Forecast By Region [ Europe | North America | APAC | Middle East and Africa]
• Global Aromatic Isocyanates Market Company Share, Competition Landscape and Company Profiles
• Research Methodology
• Secondary and Primary Sources
• Assumptions and Acronyms

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