Market Size of Europe Isocyanates Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Isocyanates Market Analysis
The isocyanates market in Europe is expected to register a CAGR of over 4% during the forecast period.
Lockdowns caused by COVID-19 hurt the construction industry, lowering demand for isocyanates. The European construction industry reached pre-COVID levels in 2022, and demand for isocyanates has increased due to the increased demand for insulation materials, coatings, and adhesives.
- Over the short term, the demand for isocyanates is anticipated to expand throughout the forecast period due to increased industrialization and manufacturing activities.
- However, it is anticipated that raw material prices, hazardous nature, and unpredictable crude oil prices will hinder the market.
- Nevertheless, the high efficacy of bio-based isocyanates will probably present a market expansion potential in the future.
