Isocyanates are chemicals that belong to the isocyanate group (NCO). They react with polyurethane polymers, thermoplastic elastomers, spandex fibers and polyurethane coatings containing alcohol (hydroxyl) compounds in polyurethane spraying. Isocyanate is the raw material for all polyurethane products. Isocyanates can be used in the paint, foam and manufacturing tasks of a variety of polyurethane products, such as chemicals, foams, insulation materials, surface laminate products, car seats, cabinets, foam mattresses, underwear materials, shoes, laminated fabrics, polyurethane rubber and adhesive.
COVID-19 Impact Analysis
- At the beginning of 2020, the COVID-19 pandemic began to spread around the world. Millions of people worldwide are infected with the COVID-19 disease. The major economies in the world have issued permanent bans and orders to stop operations. Most life support industries have been hit hard, and the Isocyanate industry has also been hit hard.
- Due to the lockdown in major parts of the world, the manufacturing unit faced lack of manpower for production work.
- Decline in construction industry during the pandemic, leads to the sink in the demand for the Isocyanate which overall decreased the growth of the Isocyanate market.
Top Impacting Factors
- Isocyanates are widely used in paints and varnishes, and the growing demand for upholstered furniture and other furniture is expected to greatly promote the development of the global isocyanate market.
- Compared with conventional mineral oil, unpredictable prices and availability of raw materials and isocyanate compounds are extremely toxic and dangerous, which is a serious restraint of the Isocyanate market.
- The factors hindering the growth of this market are the high cost of raw materials and the need for huge investments in R&D and technology. Since the main raw material of isocyanate is crude oil, recent fluctuations in crude oil prices have affected commodity prices. Due to the increase in raw material costs, major manufacturers are increasing the prices of is ocyanates.
- With the increase in the number of sealants, adhesives and elastomers, the demand for metered-dose inhalers is expected to increase over time and is the main driver of isocyanate demand and leads the market toward the significant growth.
Market Trends
- In November 2019, Specialty chemicals company Lanxess offers a new generation of low free (LF) isocyanate-urethane prepolymers that can be converted into resins for 3D printing (additive manufacturing). Based on Adiprene LF pPDI (p-phenylene diisocyanate) prepolymer, these high-performance resins are easy to use and safe for industrial manufacturers as well as homes, offices and occasional retail consumers.
- In April 2021, specialty chemicals company Lanxess is expanding its unique range of trixene aqua blocked water-based isocyanate dispersions. The product line now includes new brands designed to expand applications and meet the most demanding customer needs.
Key Benefits of the Report
- This study presents the analytical depiction of the Isocyanate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Isocyanate market share.
- The current market is quantitatively analyzed to highlight the Isocyanate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Isocyanate market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Isocyanate Report
- Who are the leading market players active in the Isocyanate market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
Isocyanates Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | Bayer AG, DOW, KUMHO MITSUI CHEMICALS CORP, Anderson Development, Covestro AG, Huntsman International LLC, China National Blue Star (Group) Co. Ltd, Evonik Industries AG, BASF SE, Wanhua Chemical Group Co. Ltd., Asahi Kasei Corporation, Yantai Sanjiang Chemical Industry Material Co. Ltd., Tosoh Corporation, Vencorex, Hebei Cangzhou New Century Foreign Trade Co., Ltd., GNF Limited, Chemtura Corporation, Dahua (Group) Co. Ltd., Mitsui Chemicals, Inc. |
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