1,6-diisocyanate (HDI) Market share, Market trends, and forecasts from 2024 to 2031.

Market Overview and Report Coverage

1,6-diisocyanate (HDI) is a chemical compound used primarily in the synthesis of polyurethane coatings, adhesives, and elastomers. It is widely utilized in various industries including automotive, aerospace, construction, and textiles due to its excellent mechanical properties and resistance to chemicals and weathering. The global HDI market has been witnessing steady growth in recent years and is expected to continue on a positive trajectory in the future.
The future outlook of the HDI market appears promising, with an expected Compound Annual Growth Rate (CAGR) of 0.20% during the forecasted period. Several factors contribute to this growth projection. Firstly, the rising demand for high-performance polyurethane coatings and adhesives from end-user industries such as automotive and construction is driving the market growth. These sectors utilize HDI-based products extensively for their durability, corrosion resistance, and aesthetic appeal.
Moreover, increasing environmental regulations and the growing focus on sustainable practices are also boosting the demand for HDI-based products. The compound has low VOC emissions and complies with various environmental regulations, making it a preferred choice among manufacturers and end-users.
Additionally, the growing construction industry, fueled by urbanization and infrastructure development in emerging economies, is expected to drive the demand for HDI-based products. The compound finds applications in various construction activities like flooring, protective coatings, and sealants for its high-performance characteristics.
However, the HDI market is not without challenges. Fluctuating raw material prices, particularly for benzene and toluene, used in the production of HDI, may impact the overall cost of production and profitability for manufacturers. Additionally, the market faces competition from alternative materials and technologies that offer similar properties.
Overall, the 1,6-diisocyanate (HDI) market is poised for steady growth in the coming years. The increasing demand from key end-user industries, along with the focus on sustainable practices, is expected to fuel market growth. However, challenges in terms of raw material prices and competition from alternatives remain factors that industry participants will need to address for sustained success.

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Market Segmentation
The 1,6-diisocyanate (HDI) Market Analysis by types is segmented into:
• 0.995
• Others

1,6-diisocyanate (HDI) is a chemical compound used in various industries, such as automotive, construction, and electronics. It is primarily utilized as a raw material in the production of polyurethane coatings and adhesives. HDI is available in different market types, with "0.995" indicating high purity grade, commonly preferred by paint manufacturers due to its superior quality and performance. On the other hand, "Others market" refers to HDI products that do not fall in the specific category of high purity grade, possibly including lower grade variants or mixtures with other compounds, which may find applications in specific niche industries.

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The 1,6-diisocyanate (HDI) Market Industry Research by Application is segmented into:
• Polyurethane Coatings
• Adhesive
• Inks

1,6-diisocyanate (HDI) is widely used in various applications, including polyurethane coatings, adhesives, and inks. In the context of polyurethane coatings, HDI acts as a cross-linking agent, contributing to the film's durability, toughness, and resistance to chemicals and weathering. Similarly, HDI is employed as a reactive ingredient in adhesives, promoting strong bonding properties and enhancing the adhesive's overall strength. In the inks market, HDI is utilized as a component in high-performance inks, providing excellent adhesion, flexibility, and resistance to abrasion. Thus, HDI plays a crucial role in improving the quality and performance of polyurethane coatings, adhesives, and inks.

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In terms of Region, the 1,6-diisocyanate (HDI) Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


What are the Emerging Trends in the Global 1,6-diisocyanate (HDI) market?
The global 1,6-diisocyanate (HDI) market is witnessing several emerging trends. One notable trend is the increasing demand for HDI in the automotive industry, driven by the growing production of lightweight and fuel-efficient vehicles. Additionally, the construction industry is experiencing a surge in the use of HDI in paints and coatings due to its high durability and weather resistance properties. Moreover, the market is witnessing a shift towards bio-based HDI, as it offers a sustainable alternative to petroleum-based products. Furthermore, the rising demand for adhesives and sealants in various industries is also contributing to the market's growth.

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Major Market Players
One of the key players in the 1,6-diisocyanate (HDI) market is Covestro. Covestro is a leading producer of high-performance polymers and chemical solutions, headquartered in Germany. It was formerly the Material Science division of Bayer until it became an independent company in 2015. With a history dating back over 150 years, Covestro has built a reputation for innovation and a commitment to sustainability. The company has a diverse product portfolio that includes coatings, adhesives, and foams, with HDI being one of its key offerings.
Vencorex is another significant player in the HDI market. It is a global leader in aliphatic isocyanates, with a particular focus on HDI derivatives. Vencorex was formed in 2012 as a joint venture between PTT Global Chemical, a Thai petrochemical company, and the Japanese company Perstorp. Vencorex has production facilities in France and Thailand, enabling it to serve customers worldwide. The company's HDI-based solutions find applications in a wide range of industries, including automotive, industrial coatings, and adhesives.
Tosoh is a well-established chemical company based in Japan that also manufactures and supplies HDI. Founded in 1935, the company has grown to become one of the leading chemical manufacturers in the world, with a focus on inorganic and organic chemicals, as well as specialty materials. Tosoh's HDI products are known for their high quality and purity, catering to the stringent requirements of various end-use industries.
Wanhua Chemical, headquartered in China, is a key player in the global HDI market. It is a leading manufacturer of polyurethane raw materials, including HDI, and operates multiple production sites across China and other countries. Wanhua Chemical's HDI products are widely used in coatings, adhesives, and other industries. The company has experienced significant growth in recent years, benefiting from the expanding polyurethane market and its own efforts to expand its product offerings.
BASF is a dominant player in the chemical industry and also supplies HDI. Founded in Germany in 1865, BASF has a long history and operates globally, with a diverse portfolio of products. HDI is an important product within BASF's Coatings division, which offers various solutions for automotive, industrial, and decorative applications. The company's strong research and development capabilities have enabled it to develop innovative HDI-based products and stay competitive in the market.
As for sales revenue, according to reported figures for the fiscal year 2020, Covestro generated sales revenue of approximately €10.70 billion. For Vencorex, its 2020 sales revenue reached €775 million. The sales revenue of Tosoh for the fiscal year 2020 was approximately ¥840 billion. Wanhua Chemical reported sales revenue of approximately ¥120 billion (CNY) for the same year. Finally, BASF reported sales revenue of approximately €59.14 billion in 2020.
Overall, the 1,6-diisocyanate (HDI) market is witnessing significant growth, driven by its high demand in various end-use industries such as automotive, construction, and furniture. The key market players, including Covestro, Vencorex, Tosoh, Wanhua Chemical, and BASF, have established strong market positions and continue to invest in research and development to expand their product portfolios and maintain competitiveness in the industry.

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