Global Toluene Diisocyanate Market: Snapshot

Toluene diisocyanate is a key raw material in polyurethane products. The global toluene diisocyanate market has thus gained a steady revenue generation channel due to the widespread use of polyurethane in various manufacturing industries. The physical properties of polyurethane have made it the perfect material in various consumer goods, which has become the key driver for the global toluene diisocyanate market. Development of the consumer goods industry in developing regions is likely to present the toluene diisocyanate market with favorable growth prospects in the coming years.

According to Transparency Market Research (TMR), the global toluene diisocyanate market is likely to exhibit a steady 4.8% CAGR between 2015 and 2023. The market is likely to be valued at close to US$10.3 bn by 2023.

Rising Residential Construction Leads to Rising Demand from Toluene Diisocyanate Market

One of the key factors driving the global toluene diisocyanate market is the booming construction industry in developing regions and, particularly the rising demand for residential construction. This has led to rising demand for various household items, many of which are made from polyurethane, and thus necessitate demand from the toluene diisocyanate market. The steady demand for mattresses and bedding materials is the prime driver for the global toluene diisocyanate market, as an increasing number of modern bedding products contain polyurethane components due to the advantages it provides in terms of structural integrity and thermal insulation.

The rapid growth of the automotive industry is also a major driver for the global toluene diisocyanate market. Like residential construction, automotive design includes several items designed for comfort, such as automotive cushions. These are usually made from polyurethane and have thus become a steady demand avenue for the global toluene diisocyanate market. The automotive industry’s rising focus on consumer comfort is thus likely to contribute significantly to the global toluene diisocyanate market, as providing sufficient comfort at economic prices has emerged as a dominant revenue channel for automotive industry players due to the rising demand for cheap, low-end automobiles.

Flexible Foam Likely to Dominate Global Toluene Diisocyanate Market

The global toluene diisocyanate market is segmented by application into flexible foam, rigid foam, elastomers, adhesives and sealants, and coatings. Of these, flexible foam is likely to dominate demand from the global toluene diisocyanate market in the coming years due to its widespread utility in the consumer goods sector. Most automotive fittings made from polyurethane use flexible foam, leading to consistent demand from the global toluene diisocyanate market. Flexible foam products are expected to account for more than 86% of the global toluene diisocyanate market by 2023.

Geographically, Europe and Asia Pacific are likely to account for dominant shares in the global toluene diisocyanate market in the coming years. The toluene diisocyanate market in Asia Pacific has been driven by the steady growth of the construction industry in the developing region, while the automotive industry’s firm presence has been at the heart of the toluene diisocyanate market’s growth in Europe. The automotive industry’s growth in Asia Pacific in the recent past is likely to boost the toluene diisocyanate market in the region.

Key players in the global toluene diisocyanate market include Mitsui Chemicals Inc., The Dow Chemical Company, BASF SE, Huntsman Corporation, and Bayer MaterialScience LLC.

Demand for toluene diisocyanate is primarily fueled by growth in bedding and mattresses and automotive industries across the globe. Asia Pacific dominates the global market for toluene diisocyanate. This report by Transparency Market Research analyzes, estimates, and forecasts the demand for toluene diisocyanate on a global and regional level for an eight-year period from 2015 to 2023 in terms of volume and revenue. The study also provides information on restraints, drivers, and opportunities along with their impact on the global toluene diisocyanate market during the forecast period. The report segments the market based on application and region and offers estimates and forecast of the toluene diisocyanate market for each segment. 
The study analyzes the product value chain, beginning with feedstock up to end-use. Additionally, it evaluates the market based on Porter’s five forces model, which analyzes the degree of competition in the market by considering factors such as bargaining power of buyers and suppliers and threat from substitute products and new entrants. The report includes a detailed competitive landscape of the toluene diisocyanate market. It comprises market share analysis of companies and profiles of key market participants.
The market has been forecast based on constant currency rates. Prices of toluene diisocyanate vary across each region. Considering that different end-users utilize different types of products, pricing for each application varies according to regions while estimating and forecasting market revenue on the global basis. The regional average price has been considered while breaking down the market by end-application in each region. The market size of the global toluene diisocyanate market has been presented in terms of both volume as well as revenue. Market volume is provided in kilo tons, while market revenue is in US$ Mn. Market numbers are provided based on applications in the context of the global as well as regional market. Market size and forecast for each major application is also provided in the context of the global as well as regional market. Numbers provided in the report are derived based on demand for toluene diisocyanate in various end-user industries across different regions. All the prices have been considered as FOB prices. Market revenue has been calculated based on sales and consumption trends. All US$ exchange rates are as of 2014. Price has been kept constant throughout the forecast period for calculating the market size.
The report provides a decisive view of the toluene diisocyanate market by segmenting the market based on applications. Applications analyzed in this report include flexible foam, rigid foam, coatings, adhesives & sealants, and elastomers. These application segments have been analyzed based on present and future trends, and the market has been estimated from 2015 to 2023.
The toluene diisocyanate market is segmented based on geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In terms of revenue and consumption, the toluene diisocyanate market for each application for each of these regions has been forecast for the period from 2015 to 2023.
Leading manufacturers profiled in the report include BASF SE, Bayer MaterialScience LLC, Mitsui Chemicals, Inc., Huntsman Corporation, and The Dow Chemical Company. These companies are profiled in detail with features such as company overview, financial overview, business strategies, mergers and acquisitions, and recent developments.
Global Toluene Diisocyanate Market – Application Analysis
  • Flexible Foam
  • Rigid Foam
  • Coatings 
  • Adhesive & Sealants
  • Elastomers
Global Toluene Diisocyanate Market – Regional Analysis
  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA