Toluene Diisocyanate Market to Grow at 4.8% CAGR, Flexible Foam to Take up 86% Share: Transparency Market Research

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Jun 22, 2015, 08:30 ET

ALBANY, New York, June 22, 2015 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Toluene Diisocyanate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the global toluene diisocyanate market was valued at US$ 6.72 Bn in 2014 and is likely to reach US$ 10.27 Bn in 2023, expanding at a CAGR of 4.8% from 2015 to 2023. In terms of volume, demand for toluene diisocyanate stood at 2,231.5 kilo tons in 2014.Toluene diisocyanate is one of the primary raw materials used in the production of polyurethane products across the globe. The toluene diisocyanate market is segmented based on product types such as flexible foam, rigid foam, coatings, adhesives & sealants, and elastomers. Flexible foam was the largest application segment in the global toluene diisocyanate market, accounting for about 80% share in 2014.

Full Research Report on Global Toluene Diisocyanate Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/toluene-diisocyanate-market.html

In terms of volume, demand for flexible foam stood at 1,909.3 kilo tons in 2014 and is expected to reach 2,815.0 kilo tons in 2023, increasing at a CAGR of approximately 4.4% between 2015 and 2023. Demand for flexible foam is due to rising demand for bedding and mattress across the globe. Furthermore, demand for toluene diisocyanate, used in the production of automotive seats, is projected to witness strong growth in the next few years. Similarly, the market for rigid foam was valued at US$ 315.4 Mn and is anticipated to reach US$ 465.6 Mn in 2023, expanding at a CAGR of about 4.4% between 2015 and 2023. In terms of both volume and revenue, Asia Pacific was the largest market for toluene diisocyanate.

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The region accounted for about 40% share of the global toluene diisocyanate market in 2014. In terms of volume, the market for toluene diisocyanate in Asia Pacific stood at 897.5 kilo tons in 2014 and is likely to reach 1,380.3 kilo tons in 2023, expanding at a CAGR of 4.9% from 2015 to 2023. Asia Pacific is estimated to dominate the market due to growth in the bedding and mattress industry coupled with increasing demand for automotives in the region. Major players in the toluene diisocyanate market include The Dow Chemical Company, Mitsui Chemicals, Inc., and Huntsman Corporation.

Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/toluene-diisocyanate-market.htm

Global Toluene Diisocyanate Market - Application Analysis

Flexible Foam
Rigid Foam
Coatings
Adhesive & Sealants
Elastomers

Browse the Article of this report, here: http://www.transparencymarketresearch.com/article/toluene-diisocyanate-market.htm

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

Other Published Reports by Transparency Market Research:

Styrene Butadiene Latex Market: http://www.transparencymarketresearch.com/styrene-butadiene-latex-market.html
Tall Oil Fatty Acid Market: http://www.transparencymarketresearch.com/tall-oil-fatty-acid-market.html
Calcium Nitrate Market: http://www.transparencymarketresearch.com/calcium-nitrate-market.html

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