Toluene Diisocyanate is the organic chemical compound used as a raw material for the production of polyurethane products. The rising demand for polyurethane across various manufacturing industries is projected to drive the growth of the toluene diisocyanate market. The increasing consumption of polyurethane across the production furniture, bed mattress, sofa etc. is other major factor fueling the toluene diisocyanate market.
FLEXIBLE FOAM LEAD THE APPLICATION SEGMENT
Flexible foam is dominating the market over the forecast period and is likely to bring USD XX.X MN by the end of 2030 Whereas, in terms of volume, the market is projected to touch XX.X KT by 2030. Also, the demand for flexible foams is driven by increasing application in furniture as cushioning material. The flexible foams are utilized in the automotive seat fitting that further boost the demand for flexible foam products. In terms of revenue, the flexible foam products market is expected to reach MN by 2030.
GROWING RESIDENTIAL ACTIVITIES ACCELERATING THE DEMAND OF TOLUENE DIISOCYANATE IN ASIA–PACIFIC REGION
APAC region is dominating the global TDI market. In terms of revenue, APAC is expected to reach XX.X MN at the end of 2030. Whereas, in terms of volume, the market is projected to trace XX KT by the end of 2030 The growing construction activities and the strong presence of the automotive industry in the developing nation of the Asia-Pacific region have driven the toluene diisocyanate market growth. Also, the rise in residential construction is rising the demand for various household products such as mattresses, bedding materials, etc. made from polyurethane is anticipated to drive the market growth of the toluene diisocyanate market.
MAJOR COMPETITORS IN THE GLOBAL TOLUENE DIISOCYANATE MARKET
BASF SE, The Dow Chemical Company, Bayer Material Science LLC, Tosoh Corporation, BorsodChem Zrt, Yantai Juli Fine Chemical Co., Ltd., Cangzhou Dahua Group Co. Ltd., Mitsui Chemicals, Inc., and Vencorex Holding SAS are the prominent players in the global toluene diisocyanate market.
As per this study the Global Toluene Diisocyanate Market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of XX%. By volume, the market was estimated toluene diisocyanate XX KT in 2022 and is expected to reach XX KT by 2030 with a CAGR of XX%.
Toluene Diisocyanate (TDI) with chemical formula CH3C6H3 (NCO) 2 is a synthetic mixture of the 2, 4- and 2, 6-isomers, colorless to pale yellow liquid with a pungent smell. TDI is volatile in nature and soluble in many organic solvents. It is a key ingredient in the production of polyurethanes, primarily for flexible foam, which has numerous application in different industries such as furniture, bedding and carpet underlay, automotive, as well as packaging. These foams are used as high resiliency foams in bedding for wadding and padding and upholstery in the furniture industry, in paints, as coatings & adhesives for the construction industry, insulators in the appliance industry.
Market Dynamics
Growing demand for luxurious furniture coupled with the rising purchasing power of the consumer is likely to boost the TDI market growth. Besides, emerging sectors especially constructions, automotive, and electronics have resulted as a leading consumer of TDI. Moreover, expansion of chemical industry coupled with the development of infrastructure are also contributing towards the growth of TDI market. On the other hand, the fluctuating price of raw material coupled with the toxic nature of TDI is likely to hamper the growth of the market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of toluene diisocyanate.
Market Segmentation
The broad toluene diisocyanate market has been sub-grouped into application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application
- Flexible Foam
- Rigid Foam
- Coatings
- Adhesive & Sealants
- Elastomers
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for toluene diisocyanate in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Toluene Diisocyanate Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the toluene diisocyanate market includes BASF SE, The Dow Chemical Company, Bayer Material Science LLC, Tosoh Corporation, BorsodChem Zrt, Yantai Juli Fine Chemical Co., Ltd., Cangzhou Dahua Group Co. Ltd., Mitsui Chemicals, Inc., and Vencorex Holding SAS. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.