Global Toluene Diisocynate Market By Forms (2,4-Toluene Diisocynate; 2,6-Toluene Diisocynate); Application (Flexible Foam; Rigid Foam; Coatings; Adhesives & Sealants; Binders; Elastomers); End-Users (Wood/Furniture; CASE; Automotive; Diverse Industries); Geography (North America; Europe; Asia-Pacific; South America; Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Toluene Diisocynate Market
Global toluene diisocynate market is expected to register a steady CAGR of 4.45% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the various innovations in the production cycle developed by various manufacturers of toluene diisocynate.
Market Definition: Global Toluene Diisocynate Market
Toluene diisocynate is a type of organic chemical compound that is used in the various forms of production of polyurethane. Although, its application is not just limited in the production of polyurethane it is also used as an octane booster for gasoline, as well as production of other chemical compounds ranging from phenol, nitrobenzene and benzoic acid.
- High growth of the automobile demand is expected to have a positive impact on the growth of the market
- Increasing utilization of the product from mattresses and other associated products manufacturing is expected to boost the market growth
- Growth in demand for polyurethane foams and other forms of polyurethane product is also driving the market growth
- Growing utilization of polyurethanes in furniture construction due to the growth of residential urbanization activities is also expected to propel the market growth
- Concerns regarding the vulnerable nature of crude oil prices which is expected to hinder the growth of the market
- Increasing presence of strict regulatory compliances regarding the environment due to the prevalence of harmful substances in the composition of toluene diisocynates is expected to restrict the market growth
Segmentation: Global Toluene Diisocynate Market
- 2,4-Toluene Diisocynate
- 2,6-Toluene Diisocynate
- Flexible Foam
- Rigid Foam
- Adhesives & Sealants
- Diverse Industries
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- Polyurethanex – 2020, 12th Edition of the exhibition designed to promote the awareness between various market players dealing in polyurethane regarding the availability of raw materials, equipment and technologies for its production will be held in Moscow, Russia from April 21-23, 2020
- In January 2018, GNFC Limited announced that they had restarted their TDI (toluene diisocynate) – II plant situated at Dahej, Gujarat. The plant had been shut down indefinitely due to incidence of gas leakage occurring in the facility, although no loss of life or other resources had been reported. This will help the company in improving the reduced production capability of toluene diisocynate that had been suffered due to this incident
Global toluene diisocynate market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of toluene diisocynate market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global toluene diisocynate market are BASF SE; Dow; Tosoh Corporation; Wanhua Chemical Group Co.,Ltd.; Yantai Juli Fine Chemical Co., Ltd.; Vencorex Holding SAS; OVERSEAS POLYMERS PVT. LTD.; GNFC Limited; OCI COMPANY Ltd.; Hanwha Group; LANXESS; Covestro AG; China National Bluestar (Group) Co,Ltd. and Anderson Development among others.
Research Methodology: Global Toluene Diisocynate Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved