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NEW YORK, Sept. 13, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global diisocyanates and polyisocyanates market size is estimated to grow by USD 13.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.64% during the forecast period. Exponential growth in construction sector is driving market growth, with a trend towards technological advancements in production of diisocyanates and polyisocyanates. However, fluctuations in prices of crude oils poses a challenge. Key market players include Anhui Sinograce Chemical Co. Ltd., Asahi Kasei Corp., BASF SE, Bogao Synthetic Material Co. Ltd., BorsodChem, Cosmos Plastics and Chemicals, Covestro AG, DIC Corp., Dow Inc., Evonik Industries AG, Huntsman Corp., Jiahua Chemical Co. Ltd., Merck KGaA, Mitsui Chemicals Inc., N Shashikant and Co., Prakash Chemicals International Pvt. Ltd., Parsol chemicals Ltd., Shandong INOV Polyurethane Co. Ltd., Super Urecoat Industries, and Tosoh Corp..

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Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Type (Diisocyanates and Polyisocyanates), Application (Coating, Foam, Adhesive, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) Region Covered APAC, North America, Europe, Middle East and Africa, and South America Key companies profiled Anhui Sinograce Chemical Co. Ltd., Asahi Kasei Corp., BASF SE, Bogao Synthetic Material Co. Ltd., BorsodChem, Cosmos Plastics and Chemicals, Covestro AG, DIC Corp., Dow Inc., Evonik Industries AG, Huntsman Corp., Jiahua Chemical Co. Ltd., Merck KGaA, Mitsui Chemicals Inc., N Shashikant and Co., Prakash Chemicals International Pvt. Ltd., Parsol chemicals Ltd., Shandong INOV Polyurethane Co. Ltd., Super Urecoat Industries, and Tosoh Corp.

Key Market Trends Fueling Growth

The global diisocyanates and polyisocyanates market is witnessing significant advancements in production technologies, leading to increased efficiency and safety. Vendors are investing in research and development to create safer and sustainable alternatives, such as bio-based isocyanates. Digital technologies and Industry 4.0 principles are transforming the market, with the adoption of data analytics, artificial intelligence, and automation to optimize production processes and enhance supply chain efficiency. For instance, BASF SE uses digital technologies like supercomputer Quriosity, quantum computing, and artificial intelligence to improve safety, quality, productivity, and cost efficiency. Manufacturers are also developing specialized diisocyanates and polyisocyanates with unique properties to meet specific application demands. Innovations in formulation and application are expanding the use of diisocyanates and polyisocyanates in various industries, such as insulation and coatings and adhesives. Technological advancements in diisocyanates and polyisocyanates production are driving market growth, with the development of high-performance diisocyanates and polyisocyanates offering improved thermal stability, chemical resistance, or adhesion properties.

The Diisocyanates and Polyisocyanates market is witnessing significant growth in various industries. Key applications include Polyurethane foam for Building and Construction sectors, insulation in Electronics, and coatings, paints, adhesives, and sealants. Sustainability is a major trend, with the development of bio-based isocyanates. Amines and Phosgene are essential raw materials, while MDI and TDI are common types of Diisocyanates. Rigid foams are used in Electrical and Consumer applications, such as insulation and upholstered furniture. Flexible foams are found in Furniture, Flooring, Decorations, and Metered-dose inhalers. Isocyanates are also used in Epoxy coatings, Elastomers, Binders, Footwear, and various specialty chemicals. Crude oil prices impact the market, and alternatives like Bio-based isocyanates are being explored. Other applications include Solvents, Surfactants, Fuel additives, Electronic chemicals, Food additives, Fungicides, and Herbicides. Aromatic Diisocyanates like Methylene diphenyl diisocyanate are widely used in Plastics and Specialty chemicals.

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Market Challenges

The diisocyanates and polyisocyanates market is heavily influenced by the volatility of crude oil prices. Fluctuations in crude oil prices result in uncertainty in pricing and profitability for manufacturers due to the impact on raw material costs. Crude oil prices can be affected by various factors, including political instability in oil-producing regions, weak global economic activity, and steady production and exports. For instance, geopolitical tensions with Russia and the invasion of Ukraine in 2022 led to a significant increase in crude oil prices, averaging around USD100 /b in 2022. This volatility poses a substantial challenge to the diisocyanates and polyisocyanates market. As crude oil prices rise, the affordability of isocyanates-based products may be negatively impacted, potentially hindering market growth. Therefore, the unpredictable nature of crude oil prices is expected to hamper the growth of the global diisocyanates and polyisocyanates market during the forecast period.

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Segment Overview

This diisocyanates and polyisocyanates market report extensively covers market segmentation by

Type

1.1 Diisocyanates

1.2 Polyisocyanates

Application

2.1 Coating

2.2 Foam

2.3 Adhesive

2.4 Others

Geography

3.1 APAC

3.2 North America

3.3 Europe

3.4 Middle East and Africa

and 3.5 South America

1.1 Diisocyanates- Diisocyanates are essential chemical building blocks for producing polyurethanes, a versatile class of polymers used in various industries. The most common types include Toluene Diisocyanate (TDI), Methylene Diphenyl Diisocyanate (MDI), Hexamethylene Diisocyanate (HDI), and Naphthalene Diisocyanate (NDI). These diisocyanates are used in creating rigid polyurethane foam for insulation in appliances like refrigerators and freezers, improving their performance and reducing energy usage. In healthcare, medical-grade polyurethanes made from diisocyanates are used in non-allergenic gloves, medical garments, and wound dressings. The construction industry's demand for insulation and energy-efficient materials and the automotive sector's focus on lightweight components are expected to drive the growth of the diisocyanates market. The growing healthcare sector and increasing demand for energy-efficient buildings are also significant factors. Diisocyanates are vital for manufacturing various products such as foams, coatings, adhesives, elastomers, and insulation materials. Their unique properties make them indispensable in various industries, ensuring their continued demand in the global market.

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Research Analysis

Market Research Overview

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

Type

Diisocyanates

Polyisocyanates

Application

Coating

Foam

Adhesive

Others

Geography

APAC

North America

Europe

Middle East And Africa

South America

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

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