Toluene Diisocyanates Market By Global Covid-19 Impact, Business Strategies, Opportunities And Forecast To 2030

[Ram Vasekar]

Market Overview

Toluene Diisocyanates (TDI) is a reactive chemical of colorless and flammable liquid. It is used to react with alcohol-based polymer to form polyurethane products. TDI is manufacture by the synthesis process of toluene, nitric acid and sulfuric acid mixture. It is further reacted with phosgene to produce TDI. The product application majorly founds in industrial and consumer goods.

Market Segmentation

The global Toluene Diisocyanates (TDI) Market has been segmented on the basis of form, application, and region.

By form, the global toluene diisocyanates (TDI) market has been segmented into 2,4-toluene diisocyanate, 2,6-toluene diisocyanate.  These are forms of isomers which are commercially found in mixtures of 80/20 of 2,4-TDI and 2,6-TDI.

On the basis of application, the global toluene diisocyanates (TDI) market has been segmented as flexible foam, paints & coatings, elastomers, binders, adhesives and sealants, and others. Flexible foams account for the major market share of the product for automotive, carpet underlay and furniture. Paints & coatings are preferred to be the second most demanding application of the product in construction Industry. 

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Regional Analysis

Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global toluene diisocyanates (TDI) market. In 2020, Asia-Pacific accounted for the largest market share of the global toluene diisocyanates (TDI) market. Japan leads the innovation of products along with expansion of market applications in the region. China accounts for the major consumer of toluene diisocyanates (TDI), with more than quarter global market share in 2020.

North America and Europe are the other significant regional markets for Toluene Diisocyanates (TDI) Market Regional Revenue Forecast. U.S. and Germany are the leading countries for raising demand of PU foams, especially in furniture and automotive industry. Several manufacturers in the region focused on product innovation and advancements in processing technologies.

Competitive Analysis

Tosoh Corporation (Japan), BASF SE (Germany), The Dow Chemical Company (US), LANXESS (Germany), Covestro (Germany), Mitsui Chemicals, Inc. (Japan), Wanhua Chemical Group Co. Ltd (China), Cangzhou Dahua Group Co. Ltd (China), China National Bluestar (Group) Co., Ltd (China), and Anderson Development (US) among others are some of the key players in the global toluene diisocyanates (TDI) market.

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