Market Size of Isocyanates Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
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?
Isocyanates Market Analysis
The isocyanates market is expected to grow at a CAGR of over 6% during the forecast period.
COVID-19 impacted the isocyanates industry negatively due to the temporary shutdown of the production facilities and the supply chain disruption. However, the demand for isocyanates in the paints and coatings market propelled the consumption post-pandemic.
- One of the major factors driving the market study is the huge growth in the polyurethane foam application.
- However, shortages and increased prices of raw materials are likely to restrain the market's growth.
- High-efficiency of bio-based isocyanates is likely to act as an opportunity for market growth in the future.
- Asia-Pacific dominated the isocyanates market due to increased industrialization and is likely to witness a high growth rate during the forecast period.
