The "Toluene Diisocyanate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The market for toluene diisocyanate is expected to grow at a CAGR of more than 4.5% globally during the forecast period.
Alfa Aesar, Thermo Fisher Scientific
Mitsui Chemicals, Inc.
SIMEL Chemical Industry Co., Ltd.
TSE Industries, Inc.
Key Market Trends
Foams to Dominate the Market
Foam has been widely used in various industrial applications due to its reliability in the sector. Besides the excellent properties, the reduction of the cost of raw material is a significant advantage in using these materials.
Flexible foam is one of the most promising materials due to its outstanding overall performance, such as durability, better insulation, high resistance towards chemicals, easy recycling, and thermal stability at high temperatures for a variety of applications.
Growing furniture demand owing to increasing purchasing power combined with an increase in the durability and longevity of the products is expected to increase the growth of the foam.
Polyurethane-based foams are used as insulating materials in homes, refrigerators, as well as for several other purposes. With the rising number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run.
All the aforementioned factors are expected to drive the toluene diisocyanate market during the forecast period.
Asia-Pacific Region to Dominate the Market
Asia Pacific region is expected to dominate the market for the toluene diisocyanate market over the forecast period. The surge in demand for foam products from diverse applications like furniture, paints & coatings, and packaging is expected to influence market growth in the region.
According to the publisher, the furniture market in the Asia-Pacific is anticipated to grow at a CAGR of more than 5.4% during the forecast period.
Owing to the rising demand from the industrial and infrastructural sectors, the production of paints and coatings is increasing in the Asia-Pacific region. Additionally, due to a positive outlook in the construction industry in the Asia-Pacific region, various major coatings manufacturers are setting up newer plants in the region.
Furthermore, the growing usage of flexible foam in the packaging industry are providing growth in the large population areas like India and China.
Hence, all such market trends are expected to drive the demand for toluene diisocyanate market in the region during the forecast period.
However, the Asia-Pacific automotive industry is declining coupled with the outbreak of COVID-19 disease is affecting the growth of the toluene diisocyanate market.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from Flexible Foam
4.1.2 Other Drivers
4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.3 Adhesives and Sealants
5.2 End-user Industry
5.2.1 Furniture and Interiors
5.2.2 Building and Construction
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alfa Aesar, Thermo Fisher Scientific
6.4.3 Covestro AG
6.4.4 Dow Group
6.4.5 Hanwha Group
6.4.6 KH Chemicals
6.4.7 Mitsui Chemicals, Inc.
6.4.9 SIMEL Chemical Industry Co., Ltd.
6.4.11 Tosoh Corporation
6.4.12 TSE Industries, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application of Toluene Diisocyanate in Coating Industry
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/xbmfxx
View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005711/en/
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