GVR Report cover Toluene Diisocyanate Market Size, Share & Trends Report

Toluene Diisocyanate Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Report ID: GVR1261
  • Number of Pages: 0
  • Format: Electronic (PDF)
  • Historical Data: ---
  • Industry: Research

Global toluene diisocyanate (TDI) is expected to witness strong growth over the forecast period on account of increasing demand for flexible polyurethane foams. Demand for flexible polyurethane foams is expected to grow on account of its increasing application scope in furniture and transportation as a cushioning material. Growing demand for comfortable seating in automobiles and furniture is expected to drive market growth for TDI over the forecast period. Raw materials used in the production of TDI are crude oil, propylene, aniline, and toluene. Rise in raw materials prices may hamper market growth for TDI over the forecast period.

End-user industries of the TDI market include furniture, transportation, rigid foams, coatings, adhesives & sealants and elastomers. Furniture was one of the largest application segments for TDI in 2013. Increasing demand for luxurious beds, sofas, and chairs resulted in the high consumption of polyurethane foams over the past few years and the trend is anticipated to continue over the forecast period. Increasing production of luxurious automobiles coupled with rising competition in automobile industry encouraging the use of polyurethane foams in cars is expected to drive toluene diisocyanate market growth over the forecast period. Growing demand for sealants and coatings to reduce leakages is expected to have a positive impact on TDI market growth. Increasing demand for rigid foams in the packaging industry and subsequent growth of the packaging sector is expected to propel market growth over the forecast period.

Asia Pacific accounted for the largest market share within the toluene diisocyanate market followed by North America in 2013. Growing demand for automobiles in Asia Pacific is anticipated to be one of the key driving factors for TDI market in this region over the forecast period. Growing demand for luxurious furniture coupled with rising purchasing parity of consumers in this region is likely to boost the TDI market growth over the forecast period. North America and Europe regions are also expected to witness significant growth over the forecast period owing to the increasing demand for luxurious cars in these regions.

Major players in TDI market include BASF SE, The Dow Chemical Company, Bayer AG, ChemChina Petrochemicals Co. Ltd., Nan Ya Plastics, and BorsodChem.

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