Aliphatic Isocyanates Market is Anticipated to Grow at a CAGR of 2.4% During the Forecast Period 2018-2025
As per the report Aliphatic Isocyanates Market By Type ( HDI, IPDI, H12MDI ), By Application ( Coatings, Adhesives & sealants, Elastomers ) Industry Trends, Estimation & Forecast, 2017 - 2025" In 2017, the coatings segment generated the highest revenue share in the global aliphatic isocyanates market. Among major regions, Europe was the highest revenue generating market, holding nearly 30% of the market share, in 2017.
Advancements in end use applications of aliphatic isocyanates is urging the market players to invest heavily in their R&D activities. Prominent market players are investing billions of dollars, in order to enhance their product portfolio and meet the altering customer demands.
Among various applications, the coating segment gained the highest market share and is expected to maintain the trend
The coatings segment gained nearly 85% of the total market share, 2017. Coatings and paints are indispensable components of any automobile and machinery manufacturing industry. They include automotive coatings, agricultural machinery, aircrafts, railway locomotives and coaches, plastic articles and various others. The constant growth of automobile and machinery industry is expected to drive the demand of aliphatic isocyanates for coatings.
HDI emerges as the highest revenue generating segment in the global aliphatic isocyanate market
The HDI aliphatic isocyanates market is majorly driven by the growth in end-user industries. In addition to this, major aliphatic isocyanate manufacturers are expanding their operations in the Asia-Pacific region, which is driving the growth of this segment. Moreover, surging demand of HDI in the manufacturing of a variety of products, including automobiles, aircraft, flooring, furniture, safety equipment, machinery, medical devices and infrastructure projects is fuelling the market growth.
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Europe garnered the highest revenue in the global market, owing to the growth in its industrial sector
Europe held nearly 30% market share, in terms of revenue, of the global market. It is anticipated to maintain its dominance in the long run and exhibit an impressive CAGR of 2.9% during the forecast period. Europe is a one of the top manufacturer of automobile and mechanical components. In Europe, the sealants and adhesives produced via aliphatic isocyanates are majorly used in the construction industry. According to FEICA, approximately 29% of the adhesives and sealants produced are utilized in the construction activities. Moreover, various European aliphatic isocyanate producers formed an association known as the European Aliphatic Isocyanates Producers Association (ALIPA), which mainly deals with the safe and proper use of aliphatic isocyanate.
KEY FINDINGS OF GLOBAL ALIPHATIC ISOCYANATES MARKET, 2017-2025
• The global aliphatic isocyanate market is anticipated to witness a declining price trend during the forecast period 2018-2025.
• Indian Railways have adopted Epoxy cum Polyurethane painting system for exterior painting of railway coaches, diesel, and electric locomotives, which is boosting the regions market growth.
• Elastomers segment is expected to grow with an impressive CAGR of 3.8% during the forecast period.
• Europe led the global aliphatic isocyanates market in 2017, in terms of revenue, by holding nearly 30% of the total share.
Some key market players are Covestro AG, Evonik Industries AG, Vencorex, BASF, Asahi Kasel, NPU, and Wanhua Chemical. Detailed coverage on these market players with information on their revenue from Aliphatic Isocynates, production, capacity, market share, gross margin and their growth strategies have also been provided in the report.
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