- The key vendors in the Global Isocyanates Market 2015-2019 are Bayer MaterialScience AG, The Dow Chemical Company, Huntsman International LLC and Yantai Sanjiang Chemical Industry Material Co. Ltd.
London, 02 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Isocyanates Market 2015-2019. One of the major trends upcoming in this market is the increased investment in isocyanate production, primarily in the TDI and Aliphatic sectors. There is also an increase in demand for other isocyanates such as NDI as a result of the increase in demand for paint and coating. The majority of the capacity additions in the Global Isocyanates market are expected to be in the APAC region because of rapid industrialization and the development of infrastructure during the forecast period. The overall market is expected to grow at a CAGR of 7.10 percent during the period of 2014-2019.
Isocyanates are used in a number of applications such as adhesives and sealants, insulating material, paint and coating, and rigid and flexible foams. The increased demand for isocyanate-based rigid foam in the Building and Construction industry from the emerging as well as mature markets is expected to open up huge opportunities in the Global Isocyanates market. Isocyanate-based rigid foams are increasingly being used as insulating material in the Building and Construction industries.
“An increase in awareness about sustainability and stringent government regulations on the production of isocyanates have enabled many vendors to shift to bio-based processes of production,” says Faisal Ghaus, Vice President of TechNavio Research.
“The products of the bio-based production process use eco-friendly and renewable resources such as sugarcane and wheat, which cause less harm to the environment.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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