Isocyanates Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Global Isocyanates Market Report is Segmented by Type (MDI, TDI, Aliphatic, and Other Types), Application (Rigid Foam, Flexible Foam, Paints and Coatings, Adhesives and Sealants, Elastomers, Binders, and Other Applications), End-User Industry (Building and Construction, Automotive, Healthcare, Furniture, and Other End-User Industries (Aerospace, Electronics, Water Vessels, Etc. ), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Size and Forecasts in Volume (Kilotons) for all the Above Segments.

Isocyanates Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Isocyanates Market SIze

Isocyanates Market Summary
Study Period 2019 - 2030
Market Volume (2025) 17.59 Million tons
Market Volume (2030) 23.76 Million tons
CAGR 6.20 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Isocyanates Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Isocyanates Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

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Isocyanates Market Analysis

The Isocyanates Market size is estimated at 17.59 million tons in 2025, and is expected to reach 23.76 million tons by 2030, at a CAGR of greater than 6.2% during the forecast period (2025-2030).

  • Over the medium term, factors like growing applications of polyurethane foam, growing industrialization in Asia-Pacific, and growing demand from the construction industry are propelling the demand in the market studied.
  • However, shortages and increased prices of raw materials are likely to restrain the market's growth.
  • Growing investments by manufacturers in R&D activities and the high efficiency of bio-based isocyanates are expected to create opportunities for market growth in the future.
  • Due to increased industrialization, Asia-Pacific dominated the isocyanates market, which is likely to witness a high growth rate during the forecast period.

Isocyanates Industry Overview

The isocyanate market is partly consolidated as the global market share is divided among a few companies. Some of the key players in the market include Dow, BASF SE, Wanhua Chemical Group Co. Ltd, Huntsman Corporation LLC, and Mitsui Chemicals Inc. (not in any particular order).

Isocyanates Market Leaders

  1. BASF SE

  2. Mitsui Chemicals, Inc.

  3. Wanhua Chemical Group Co., Ltd

  4. Huntsman Corporation LLC

  5. Dow

  6. *Disclaimer: Major Players sorted in no particular order
Isocyanates Market Concentration
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Isocyanates Market News

  • February 2024: In response to the rising demand for hardeners in coatings, Mitsui Chemicals Inc. announced the expansion of its production capacity at its meta-xylylene diisocyanate (XDI) plant located in Omuta Works.
  • January 2023: BASF commenced the third and final phase of its methylene diphenyl diisocyanate (MDI) expansion project at the Verbund site in Geismar, Louisiana. By 2025, the company aims to boost its production capacity to around 600,000 metric tons annually, catering to the rising demands of its North American MDI clientele.

Isocyanates Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Huge Growth in the Polyurethane Foam Application
    • 4.1.2 Increase in Industrialization Activities in Asia-Pacific
    • 4.1.3 Increasing Demand from the Construction Industry
  • 4.2 Restraints
    • 4.2.1 Shortage and Increased Price of Raw Material
    • 4.2.2 Hazardous in Nature
  • 4.3 Industry Value-Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition
  • 4.5 Price Trend
  • 4.6 Regulatory Policy Analysis

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 By Type
    • 5.1.1 MDI
    • 5.1.2 TDI
    • 5.1.3 Aliphatic
    • 5.1.4 Other Types
  • 5.2 By Application
    • 5.2.1 Rigid Foam
    • 5.2.2 Flexible Foam
    • 5.2.3 Paints & Coatings
    • 5.2.4 Adhesives & Sealants
    • 5.2.5 Elastomers
    • 5.2.6 Binders
    • 5.2.7 Other Applications
  • 5.3 By End-user Industry
    • 5.3.1 Building and Construction
    • 5.3.2 Automotive
    • 5.3.3 Healthcare
    • 5.3.4 Furniture
    • 5.3.5 Other End-user Industries (Aerospace, Electronics, Water Vessels, etc.)
  • 5.4 By Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Malaysia
    • 5.4.1.6 Thailand
    • 5.4.1.7 Indonesia
    • 5.4.1.8 Vietnam
    • 5.4.1.9 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 Italy
    • 5.4.3.4 France
    • 5.4.3.5 Russia
    • 5.4.3.6 Spain
    • 5.4.3.7 Turkey
    • 5.4.3.8 Nordic Countries
    • 5.4.3.9 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Colombia
    • 5.4.4.4 Rest of South America
    • 5.4.5 Middle East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 Qatar
    • 5.4.5.4 Egypt
    • 5.4.5.5 Nigeria
    • 5.4.5.6 South Africa
    • 5.4.5.7 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Anderson Development Company
    • 6.4.2 Asahi Kasei Chemicals
    • 6.4.3 BASF SE
    • 6.4.4 BorsodChem
    • 6.4.5 China National Bluestar (Group) Co. Ltd
    • 6.4.6 Chemtura Corp.
    • 6.4.7 Covestro
    • 6.4.8 DowDuPont Inc.
    • 6.4.9 Evonik Industries
    • 6.4.10 Huntsman Corporation LLC
    • 6.4.11 Kemipex
    • 6.4.12 Korea Fine Chemical Co. Ltd
    • 6.4.13 Kumho
    • 6.4.14 MITSUI CHEMICALS AMERICA INC.
    • 6.4.15 Perstorp
    • 6.4.16 Tosoh Corporation
    • 6.4.17 Vencorex
    • 6.4.18 Wanhua Chemical Group Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Increasing Investments by the Manufactures in R&D Activities
  • 7.2 High-Efficiency Bio-based Isocyanates
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Isocyanates Industry Segmentation

A family of compounds with low molecular weight and high reactivity is known as isocyanates. These chemicals, characterized by the isocyanate group (-NCO), react with alcohol (hydroxyl) groups to produce polyurethane polymers.

The isocyanates market is segmented into type, application, end-user industry, and geography. By type, the market is segmented into MDI, TDI, aliphatic, and other types. By application, the market is segmented into rigid foam, flexible foam, paints and coatings, adhesives and sealants, elastomers, binders, and other applications. By end-user industry, the market is segmented into building and construction, automotive, healthcare, furniture, and other end-user industries. The report also covers the market size and forecasts for the isocyanates market in 27 countries across major regions. The market sizing and forecasts for each segment are provided based on volume (kilotons).

By Type MDI
TDI
Aliphatic
Other Types
By Application Rigid Foam
Flexible Foam
Paints & Coatings
Adhesives & Sealants
Elastomers
Binders
Other Applications
By End-user Industry Building and Construction
Automotive
Healthcare
Furniture
Other End-user Industries (Aerospace, Electronics, Water Vessels, etc.)
By Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
Italy
France
Russia
Spain
Turkey
Nordic Countries
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa Saudi Arabia
United Arab Emirates
Qatar
Egypt
Nigeria
South Africa
Rest of Middle East and Africa
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Isocyanates Market Research FAQs

How big is the Isocyanates Market?

The Isocyanates Market size is expected to reach 17.59 million tons in 2025 and grow at a CAGR of greater than 6.20% to reach 23.76 million tons by 2030.

What is the current Isocyanates Market size?

In 2025, the Isocyanates Market size is expected to reach 17.59 million tons.

Who are the key players in Isocyanates Market?

BASF SE, Mitsui Chemicals, Inc., Wanhua Chemical Group Co., Ltd, Huntsman Corporation LLC and Dow are the major companies operating in the Isocyanates Market.

Which is the fastest growing region in Isocyanates Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Isocyanates Market?

In 2025, the Asia Pacific accounts for the largest market share in Isocyanates Market.

What years does this Isocyanates Market cover, and what was the market size in 2024?

In 2024, the Isocyanates Market size was estimated at 16.50 million tons. The report covers the Isocyanates Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Isocyanates Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Isocyanates Industry Report

The Global Isocyanates Market Report provides a comprehensive analysis of the market trends and industry analysis. The market is segmented by type, application, end-user industry, and geography, offering a detailed market overview and market forecast. The report highlights the market growth driven by various end-user industries such as building and construction, automotive, and healthcare.

The industry analysis includes a thorough examination of the market segmentation, providing insights into the market size and market value across different regions. The market report also discusses the market leaders and their market share, offering a clear market outlook for the coming years.

Additionally, the report includes a detailed market review and market predictions, supported by industry statistics and industry research. The market data and industry information are presented in an easy-to-read format, making it accessible for market research and industry reports.

The report also addresses the industry trends and market trends, providing a comprehensive industry overview. The market forecast and industry outlook are supported by growth rate and market growth analysis, ensuring a complete understanding of the market dynamics.

For further details, the report is available as a free report PDF download, offering a report example and in-depth research companies' insights. The report is a valuable resource for understanding the isocyanates market, including industry sales and market segmentation.