With the emergence and long-term Impact of COVID-19, the Global Isocyanates Market is to reach USD 50.46 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Isocyanates Market is poised to raise up to USD 50.46 Billion by 2030. Isocyanates refer to chemical compounds used in the production of polyurethane materials, such as foams, coatings, adhesives, and sealants. The Isocyanates market is expanding because of factors such as increasing construction activities and rising demand of automobiles. Moreover, the rising automotive industry has a significant impact on the isocyanates market, increasing demand for polyurethane materials in the production of lightweight components, foams, and coatings.
According to Statista in 2021, the global automotive manufacturing market had a value of approximately USD 2.86 trillion and reached around USD 2.95 trillion in 2022. Moreover, car sales grew to around 67.2 million automobiles in 2022, up from around 66.7 million units in 2021. Furthermore, the increasing demand from the construction industry has a significant impact on the isocyanates market, as isocyanates are widely used in the production of polyurethane materials for construction applications such as insulation, coatings, adhesives, and sealants.
According to Statista in 2023, the global construction industry is anticipated to reach a value of USD 14.4 trillion in 2030, showing significant growth from its 2020 value of USD 6.4 trillion. In addition, advancements in formulation of isocyanates and increasing focus on energy efficient solutions would create a lucrative growth opportunity. However, growing environmental & health concerns and complex manufacturing processes stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Isocyanates Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific dominates the market during the forecast period owing to the increase construction activities, and rising number of automobiles in the region. North America is the fastest growing region during the forecast period, owing to factors such as growing emphasis on energy efficient solutions and increase in stringent environmental restrictions is expected to further increase the market growth in the region.
The global Isocyanates Market is highly competitive owing to the presence of several key manufacturers such as Asahi Kasei Corporation, Stahl Holdings B.V., Badische Anilin & Sodafabrik (BASF) SE, Cangzhou Dahua Co., Ltd, Chemtura Corporation, Yantai Wanhua Polyurethanes Co. Ltd., and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global Isocyanates Market is anticipated to grow with a healthy growth rate of more than 7.03% over the forecast period 2023-2030.
- In the End-use segment, building & construction emerged as the leading market segment in 2022.
- Asia-Pacific is anticipated to drive regional growth owing to an increase in construction activities.
- North America is expected to grow at a high CAGR followed by Asia-Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Type:
- Aromatic Diisocyanate
- Aliphatic
By Application:
- Rigid Foam
- Flexible Foam,
- Adhesives & Sealants
- Paints and Coatings
- Elastomers
- Binders
- Others
By End-Use:
- Building & Construction
- Automotive
- Furniture
- Footwear
- Electronics
- Packaging
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone : +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
