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Toluene Diisocyanate Market - Global Industry Analysis 2023

12-21-2016 10:23 AM CET | Industry, Real Estate & Construction

Press release from: Transparency Market Research

Toluene Diisocyanate Market

Toluene Diisocyanate Market

Transparency Market Research has released a new market report titled “Toluene Diisocyanate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global toluene diisocyanate market was valued at US$ 6.72 Bn in 2014 and is likely to reach US$ 10.27 Bn in 2023, expanding at a CAGR of 4.8% from 2015 to 2023. In terms of volume, demand for toluene diisocyanate stood at 2,231.5 kilo tons in 2014.

Toluene diisocyanate is one of the primary raw materials used in the production of polyurethane products across the globe. The toluene diisocyanate market is segmented based on product types such as flexible foam, rigid foam, coatings, adhesives & sealants, and elastomers. Flexible foam was the largest application segment in the global toluene diisocyanate market, accounting for about 80% share in 2014.

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In terms of volume, demand for flexible foam stood at 1,909.3 kilo tons in 2014 and is expected to reach 2,815.0 kilo tons in 2023, increasing at a CAGR of approximately 4.4% between 2015 and 2023. Demand for flexible foam is due to rising demand for bedding and mattress across the globe. Furthermore, demand for toluene diisocyanate, used in the production of automotive seats, is projected to witness strong growth in the next few years.

Similarly, the market for rigid foam was valued at US$ 315.4 Mn and is anticipated to reach US$ 465.6 Mn in 2023, expanding at a CAGR of about 4.4% between 2015 and 2023. In terms of both volume and revenue, Asia Pacific was the largest market for toluene diisocyanate. The region accounted for about 40% share of the global toluene diisocyanate market in 2014.

In terms of volume, the market for toluene diisocyanate in Asia Pacific stood at 897.5 kilo tons in 2014 and is likely to reach 1,380.3 kilo tons in 2023, expanding at a CAGR of 4.9% from 2015 to 2023. Asia Pacific is estimated to dominate the market due to growth in the bedding and mattress industry coupled with increasing demand for automotives in the region.Major players in the toluene diisocyanate market include The Dow Chemical Company, Mitsui Chemicals, Inc., and Huntsman Corporation.

Global Toluene Diisocyanate Market – Application Analysis

-Flexible Foam
-Rigid Foam
-Coatings
-Adhesive & Sealants
-Elastomers

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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