Isocyanate Market Overview:
Isocyanate is widely used in the end-user industries such as automobile, building and construction, electronics, and electrical & electronics among others. The global isocyanate market is spanned across five regions of the world namely Asia Pacific, Latin America, Europe, North America and the Middle East & Africa.
Among these, Asia Pacific holds a major share of the global market and is projected to lead the market owing to the growing urbanization and industrialization in the developing countries of the region. The key countries attributing to this growth are India and China. The presence of the most populated economies has augmented the construction and automotive sector which in turn is expected to boost the market growth during the forecast years. Moreover, the growing electrical and electronic sector mainly in Japan and China has positively impacted the isocyanate market.
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Isocyanate Competitive Analysis:
Some of the prominent players operating in the global isocyanate market are Asahi Kasei (Japan), BASF SE (Germany), Bayer MaterialScience (Germany), Chemtura Corporation (U.S.), Dow Chemical Company ( U.S.), Evonik Industries (Germany), Hebei Cangzhou Dahua Group Co. Ltd (China), Huntsman Corporation (U.S.), Kumho Mitsui Chemicals Inc ( South Korea), Mitsui Chemicals Inc ( Japan), Vencorex (France), and Yantai Wanhua Polyurethanes Co. Ltd. (China).
Isocyanate Report Coverage:
Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the isocyanates market.
Isocyanate Research Methodology:
Market Research Future implements a range of cautiously chosen methods to create a robust research model. Focusing on veracity, the expert analysts use primary methods such as first-hand interviews with industry decision makers to get an inside look at the industry. After this, the findings from primary methods are affirmed by secondary research methods such as annual reports, SEC filings, and others. To ensure transparency in order to provide reliable market reports, the experts integrate top-down and bottom-up approaches into the research model. This allows data analysts to provide confirmation of many vital market figures to the clients. These figures are then used to provide logical analysis accompanied with apposite industry insights.
The global isocyanate market is segmented into product type, application, and end-user industry. On the basis of product type, the market is segmented into methylene diphenyl diisocyanate, toluene diisocyanate, an aliphatic isocyanate and another isocyanate. On the basis of the application, the global isocyanate market is segmented into rigid foams, flexible foams, paints & coatings, elastomers & binders, adhesives & sealants and others. On the basis of the end-use industry, the market is further segmented into automotive, building & construction, electrical and electronics, and others.
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Isocyanate Geographical Analysis:
North America is a dominant region in the isocyanate market and is expected to retain its dominance over the forecast years. The developed construction and automobile sector coupled with the increasing adoption rate are the major factors driving the market growth. The growing investment in the construction sector mainly in the U.S. and Canada is further expected to surge the market growth during the forecast years.
European market of isocyanate is set to grow at a steady pace during the forecast period. The presence of the developed automobile sector and the electronics industry are the major factors driving the market growth. The Middle Eastern market of isocyanate is expected to grow during the forecast years. The growing constructions of stadia, hotels, and other public infrastructure mainly in Qatar and Saudi Arabia are expected to boost the isocyanate market in the region.
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