Diisocyanates & Polyisocyanates Market Analysis By Demand, By Region, By Applications and Forecast Report Till 2032

Diisocyanates & Polyisocyanates Market Overview

Isocyanates are a group of highly reactive chemicals. An organic compound containing two isocyanate groups is known as diisocyanate. In terms of demand by type, the market is segmented into Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI), and Polymeric MDI. Methylene Diphenyl Diisocyanate holds the largest share owing to its wide range of use in Polyurethane products such as adhesives, coatings, automotive seats & interiors, paints, and a wide variety of flexible, semi-rigid, and rigid foams.

Rigid & Flexible Foam is the largest application for Diisocyanates and Polyisocyanates accounting for more than 60% of the total demand.

Diisocyanates & Polyisocyanates Region Analysis

Asia Pacific is the largest market for Diisocyanates & Polyisocyanates accounting for more than 60% of the global market share followed by North America and Europe. The market in the Asia Pacific region is driven by the strong presence of Automotive and Construction industries. China is the world's largest producer and consumer of polyurethane products and MDI is commonly used in China for rigid and flexible foam manufacturing. Polyurethane is used in the manufacture of cars as it helps in reducing the weight of the vehicle and PU coatings are used as protection against corrosion and UV radiation. Flexible foams are used for cushions, bedding, and furniture and are expected to boost the Diisocyanates and Polyisocyanates market in the forecast period.

Key Suppliers of Diisocyanates and Polyisocyanates:

  • Wanhua Chemicals
  • Anderson Development Company
  • BASF SE
  • Huntsman Corporation
  • The Dow Chemical Company
  • Covestro
  • Yantai Sanjiang Chemical Industry

In January 2023, BASF announced that the company started the final phase of its expansion for MDI at its Geismar site in Louisiana which will increase the capacity to 600 thousand tons.  

Huntsman has started the operations at its new MDI splitter at its US site in Geismar, Louisiana with a production capacity of 500 thousand tons.

Rising demand for Polyurethane Products

MDI is used in the manufacture of polyurethane foams which are widely used in various uses owing to its versatility, excellent resistance to heat transfer, strength-to-weight ratio, and durability polyurethane is used to make several types of insulation materials, sealants, and adhesives for homes and buildings.

In the automotive industry, Polyurethane is commonly used to reduce the weight of the cars which helps in improving the fuel efficiency of the vehicle. An average car uses 60 pounds of polyurethane material. It is also used in the manufacture of car seats, bumpers, interior ceilings, dashboards, and bumpers.

MDI foams are used as insulation in refrigerators in commercial and residential food storage where they provide superior insulation properties while saving energy and achieving the same performance requirements.

TDI flexible foams are used in furniture, carpets, and bedding overlay. Polyurethane helps in making the floors more durable, aesthetically pleasing, long-lasting, and easier to maintain. Flexible PU foam can be used as a carpet overlay which can help in increasing the lifespan of the carpet, increase its durability while adding comfort and support.

Environmental Impact

Diisocyanates and Polyisocyanates are known to cause several health problems if exposed for a long period of time which include skin irritations, asthma, and dyspnoea. As per the OSHA (The Occupational Safety and Health Administration), an exposure level of 20 ppb is allowed for dealing with MDI. Phosgene is used for the manufacture of isocyanates, which is harmful to the environment and possess severe health hazards to human health.

Fluctuations in the prices of crude oil can also hamper its market growth because crude oil is used to manufacture isocyanates.

The COVID-19 pandemic and the ongoing Russia-Ukraine war are some of the factors due to which there have been several capacity reductions and shutdowns of plants owing to the decrease in demand for MDI and TDI over the years.

Covestro has halted plans to build an MDI plant at its Baytown, Texas plant with a total capacity of 500 thousand tons due to the growing inflation and the increasingly volatile economic environment caused by the Russia-Ukraine war.

Due to the rising raw material prices and inflation, BASF has announced to close down its TDI plant in Ludwigshafen, Germany.

In March 2023, Mitsui Chemicals announced that it is cutting the production capacity of the Toluene Diisocyanate plant at Omuta, Japan, from 120 thousand tons to 50 thousand tons in July 2025.

 

Scope of Report 

The Diisocyanates & Polyisocyanates report describes the global Diisocyanates & Polyisocyanatesmarket, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Types and Applications
•  Sales & Revenue
•  Pricing Analysis

Country Summaries & Product Review
•  Demand Balance 
•  Diisocyanates & PolyisocyanatesMarket data in terms of volume and value for each end-use 
   at regional and country level
•  Diisocyanates & PolyisocyanatesMarket analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Type
          -  Application
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2020
          -  Base - 2021
          -  Forecast Period - 2022 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      • Construction
      • Aerospace
      • Others 
5.  Introduction to Diisocyanates & Polyisocyanates and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
6.  Market Dynamics and Industry Trends 
      •  Market Dynamics and COVID-19 Impact
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
7.  Global Diisocyanates & Polyisocyanates Demand Analysis, By Type, By Application (Volume, Value) (2016–2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016 – 2032)
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Diisocyanates & Polyisocyanates Market, By Type
          Methylene Diphenyl Diisocyanate (MDI)
          Toluene Diisocyanate (TDI)
          Polymeric MDI 
      •  Global Diisocyanates & Polyisocyanates Market, By Application
          Rigid & Flexible Foam
          Binders & Fillers
          Adhesives & Sealants
          Surface Coatings
          Polyurethane Elastomers
          Polyurethane Fibers
          Others
8.  Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016-2032)
      •  Demand Growth Rate (%)
      •  Diisocyanates & Polyisocyanates Market, By Type
      •  Diisocyanates & Polyisocyanates Market, By Application
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand(consumption) split by type, by applications has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the type and application to arrive at the regional/global demand growth for the forecast period (2022 – 2032)
9.  Pricing Analysis
10.  Key Strategic Issues and Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
11.  Strategic Recommendation & Suggestions
12.  Company Analysis and Market Share Analysis
      •  Diisocyanates & Polyisocyanates Manufacturers Profiles/ Company Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Key Business Strategies adopted and Prismane Consulting Overview
         -  Recent Developments
         -  Companies Covered
             - Wanhua Chemicals
             - Anderson Development Company,
             - BASF SE
             - Huntsman Corporation
             - The Dow Chemical Company
             - Covestro
             - Yantai Sanjiang Chemical Industry
             - Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
13.  Appendices
      •  Demand- Regions
      •  Demand– Countries

Scope of Report 

The Diisocyanates & Polyisocyanates report describes the global Diisocyanates & Polyisocyanatesmarket, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Types and Applications
•  Sales & Revenue
•  Pricing Analysis

Country Summaries & Product Review
•  Demand Balance 
•  Diisocyanates & PolyisocyanatesMarket data in terms of volume and value for each end-use 
   at regional and country level
•  Diisocyanates & PolyisocyanatesMarket analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

What is Diisocyanates & Polyisocyanates market?
The global Diisocyanates & Polyisocyanates market was around 16 million tonnes in 2023 and is expected to grow at a CAGR of 4.3.