Isocyanate Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Published: Feb 2024 Pages: 186 SKU: IRTNTR43713

Isocyanate Market Forecast 2024-2028

The isocyanate market size is forecast to increase by USD 6.09 billion, at a CAGR of 4.02% between 2023 and 2028. The market's growth hinges on various factors, notably the surging demand for PU in the automotive sector, rising needs in bedding and furniture, and global construction industry expansion. The automotive industry's reliance on PU, coupled with increased requirements in bedding and furniture, signifies significant market potential. Moreover, the construction sector's robust growth globally further amplifies market opportunities. These trends underscore PU's versatile applications across diverse industries, propelling its market trajectory upward. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the  Market Size During the Forecast Period?

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Market Definition 

Isocyanates are chemical compounds that are highly reactive and have low molecular weight. They have been widely used in manufacturing polyurethanes (PU), flexible and rigid foams, coatings, adhesives, and paints, among other products.

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Market Dynamics 

Isocyanates drive innovation across industries, fueling the production of polyurethane polymers, adhesives, and coatings. Growing demand from the automotive and construction sectors propels market expansion. However, challenges such as volatile raw material costs and environmental concerns persist. Trends show a shift towards bio-based isocyanates and increased application in rigid foams for vehicle exteriors and electronics. As technology advances, so do safety measures to mitigate risks associated with this highly reactive chemical. Investment in research and development is crucial to address emerging needs and ensure sustainable growth in the isocyanate market. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

Rising demand for PU from the automotive industry is the key factor driving the market. The demand for isocyanate is primarily growing due to the increased consumption of PU as a material in automotive seating. TDI and MDI are the primary raw materials used in the production of PU. It has been noticed that the applications of PUs have increased in the last ten years. In automobiles, PU solutions are helpful for the formation of lighter-weight parts, shorter production duration, lower cost, higher quality, and fewer VOC due to the use of water-based PU and reduced emissions. Along with this, the demand for PU foams in modern vehicles is also increasing due to their enhanced properties, which include sustainable cushioning, shock-absorbing, and insulating properties.

Additionally, it can be customized to achieve the required size of automotive seating, thereby reducing the cost and waste; this helps minimize the environmental impact. The flexible foams in which isocyanate finds applications also demonstrate properties such as high resistance to bleach, aging, alkalis, abrasion, sunlight, and acids. Also, the application of isocyanate in the automotive industry is on the rise, as it forms an indispensable part of PU when it comes to automotive seating. Therefore, the increasing demand for PU in the automotive industry will drive market growth during the forecast period.

Significant Market Trends

Upsurge in adoption of expansion strategy among companies is the primary trend in the market. Market players are constructing new plants and expanding the capacities of their existing plants to meet the increasing demand for isocyanate from various end-user industries, primarily the automotive and construction industries. For instance, in January 2021, BASF completed its new manufacturing plant of methylene diphenyl diisocyanate at Geismar, US. The company invested over USD 85 million for this plant expansion.

Also, in February 2021, Wanhua Chemical completed the construction of its new MDI plant at Yantai Industrial Park, China. The company invested over USD 45 million in this expansion, and the plant is expected to have a production capacity of 600,000 tons per year for the MDI plant. With the construction of new isocyanate plants and the expansion of existing plants, the production of isocyanate is expected to grow, which, in turn, will strengthen the expansion of the market trends during the forecast period.

Major Market Challenge

Growing awareness of ecological footprint leading to a shift towards eco-friendly alternatives is a major challenge that affects market expansion. Isocyanates, commonly used in the production of polyurethanes, have faced increasing scrutiny due to their potential environmental and health impacts. As awareness of the ecological footprint of industrial processes rises, several factors contribute to the potential impediment to market expansion. Particularly certain types like MDI and TDI, are associated with environmental concerns. Their production and application processes can result in the release of volatile organic VOCs and other pollutants, contributing to air and water pollution.

Additionally, the rise in consumer awareness about sustainability and environmental impact has led to a demand for eco-friendly products. Industries are pressured to adopt more sustainable practices, including the use of alternative materials or processes that have a lower environmental footprint. Also, bio-based or recycled materials are gaining attention, and the shift towards these alternatives could impact the demand for conventional isocyanates. This transition may impede market growth during the forecast period.

Segmentation by Application, Product, and Geography 

Isocyanate market segmentation encompasses various key components. Polyisocyanate, diisocyanate, and toluene diisocyanate are prominent segments, catering to diverse industries like automotive and construction. The market also sees demand for bio-based isocyanates, reflecting a shift towards sustainable practices. Adhesives, coatings, and rigid foams are critical applications within this domain. Additionally, the market includes segments like rigid foam, flexible foam, and elastomers, each serving specific purposes across sectors. Understanding the nuances of each segment is crucial for companies to align their offerings effectively and capitalize on emerging trends, driving growth and innovation in the dynamic market.

Application Analysis 

The market share growth by the rigid foams segment will be significant during the forecast years. MDI is used extensively in the production of rigid PU foams. Rigid foams have a wide range of applications. These are used as appliance foams in refrigerator and freezer insulation, water heaters, and others; as construction foams in pipe sections, roof boards, doors, cold store panels, and others; and as transportation foams in sandwich panels for trucks and reefer boxes. PU rigid foams are in high demand owing to their attributes, including lightweight, increased strength-to-weight ratio, acoustic insulating capabilities, ability to absorb energy, and superior thermal capabilities. 

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The rigid foams segment accounted for USD 7.61 billion in 2018. Further, the construction sector's ongoing growth, coupled with increasing awareness of energy conservation, supports the demand for rigid foam. Additionally, the automotive industry has been a significant consumer of rigid foam in applications like insulation and lightweight components. The automotive sector's emphasis on fuel efficiency and reduced emissions has led to the adoption of materials like rigid foam, contributing to its increased demand. In summary, the increasing demand for rigid foam in diverse industries, driven by the construction and automotive sectors, will drive the growth of the rigid foam segment in the market during the forecast period.

Product Analysis 

Based on product, the market has been segmented into MDI, TDI, aliphatic, and others. The MDI segment will account for the largest share of this segment.? MDI, the primary isocyanate, is produced by major players like Dow, Evonik, and BASF. Available in three forms pure, modified, and polymeric MDI finds extensive use in the construction, automotive, and furniture industries. Its exceptional insulation properties drive demand in construction, while its role in lightweight automotive components boosts fuel efficiency. Additionally, MDI's versatility in coatings and adhesives ensures its widespread application across various sectors, propelling market growth.

Region Analysis

APAC is estimated to contribute 43% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.

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Rapid industrialization, particularly in APAC nations like China and India, along with the booming construction and automotive sectors, will drive demand for isocyanate. Government support for energy-efficient initiatives further boosts demand, with India's Ministry of Finance allocating substantial funds for this purpose. The shift of many companies to APAC for reduced production costs adds to isocyanate demand. Major construction projects in China and India contribute significantly, with China being a key MDI manufacturer and exporter, benefiting from favorable factors like raw material availability and lenient regulations.

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

Asahi Kasei Corp.: The company offers isocyanate namely DURANATE, a blocked polyisocyanate for urethane coatings that can reduce temperature for baking automobiles in automotive coating lines.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Al Muadalah Chemical Trading Sharjah, Alembic Pharmaceuticals Ltd., BASF SE, Covestro AG, Dow Chemical Co., Evonik Industries AG, GNFC Ltd., Hanwha Corp., Huntsman International LLC, Kemipex, Kurmy Corp., Lanxess AG, Mitsui Chemicals Inc., PETRONAS Chemicals Group Berhad, PTT Global Chemical Public Co. Ltd., Spectrum Laboratory Products Inc., Tosoh Corp., Vizag Chemical International, and Wanhua Chemical Group Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028. 

  • Application Outlook 
    • Rigid foams
    • Flexible foams
    • Paints and coatings
    • Others
  • Product Outlook
    • MDI
    • TDI
    • Aliphatic
    • Others
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The market is witnessing substantial growth driven by various factors such as increasing demand for Polyurethane polymers, Thermoplastic elastomers, and Spandex fibers across end-user industries. With polyurethane paints gaining traction due to their versatility, the market is also influenced by energy regulations and the shift towards phosgene-free methylene diphenyl diisocyanate (MDI). Trade regulations and import-export analysis play pivotal roles, while production analysis and value chain optimization are crucial for market players. Domestic and localized players are exploring emerging revenue pockets, navigating market regulations, and strategizing market growth through category market growth and application niches. Product approvals, launches, and geographical expansions alongside technological innovations further shape the competitive landscape of this dynamic market. 

Further, the market is propelled by various factors, including the widespread utilization of alcohol-containing compounds and raw ingredients in manufacturing processes. The industry also sees significant contributions from end-user industries, driving demand for products like phosgene-free methylene diphenyl diisocyanate (MDI). Additionally, the presence of domestic and localized market players fosters competition and innovation. Strategic market growth analysis and category market growth play crucial roles in shaping industry dynamics. Moreover, frequent product launches keep the market dynamic and responsive to evolving consumer needs. As the market continues to evolve, these factors collectively contribute to its resilience and adaptability in meeting the demands of diverse industries and applications.

Market Scope

Report Coverage

Details

Page number

186

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.02%

Market Growth 2024-2028

USD 6.09 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

3.12

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 43%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Al Muadalah Chemical Trading Sharjah, Alembic Pharmaceuticals Ltd., Asahi Kasei Corp., BASF SE, Covestro AG, Dow Chemical Co., Evonik Industries AG, GNFC Ltd., Hanwha Corp., Huntsman International LLC, Kemipex, Kurmy Corp., Lanxess AG, Mitsui Chemicals Inc., PETRONAS Chemicals Group Berhad, PTT Global Chemical Public Co. Ltd., Spectrum Laboratory Products Inc., Tosoh Corp., Vizag Chemical International, and Wanhua Chemical Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market  between 2024 and 2028
  • Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, Middle East and Africa, and South America
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global isocyanate market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global isocyanate market 2018 - 2022 ($ billion)
    • 4.2 Application Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
    • 4.3 Product Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Rigid foams - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Rigid foams - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Rigid foams - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Rigid foams - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Rigid foams - Year-over-year growth 2023-2028 (%)
    • 6.4 Flexible foams - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Flexible foams - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Flexible foams - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Flexible foams - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Flexible foams - Year-over-year growth 2023-2028 (%)
    • 6.5 Paints and coatings - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Paints and coatings - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Data Table on Paints and coatings - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 44: Chart on Paints and coatings - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Paints and coatings - Year-over-year growth 2023-2028 (%)
    • 6.6 Others - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 47: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 48: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.7 Market opportunity by Application
      • Exhibit 50: Market opportunity by Application ($ billion)
      • Exhibit 51: Data Table on Market opportunity by Application ($ billion)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 52: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 53: Data Table on Product - Market share 2023-2028 (%)
    • 7.2 Comparison by Product
      • Exhibit 54: Chart on Comparison by Product
      • Exhibit 55: Data Table on Comparison by Product
    • 7.3 MDI - Market size and forecast 2023-2028
      • Exhibit 56: Chart on MDI - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on MDI - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on MDI - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on MDI - Year-over-year growth 2023-2028 (%)
    • 7.4 TDI - Market size and forecast 2023-2028
      • Exhibit 60: Chart on TDI - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on TDI - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on TDI - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on TDI - Year-over-year growth 2023-2028 (%)
    • 7.5 Aliphatic - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Aliphatic - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Aliphatic - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Aliphatic - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Aliphatic - Year-over-year growth 2023-2028 (%)
    • 7.6 Others - Market size and forecast 2023-2028
      • Exhibit 68: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 70: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.7 Market opportunity by Product
      • Exhibit 72: Market opportunity by Product ($ billion)
      • Exhibit 73: Data Table on Market opportunity by Product ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 75: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 76: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 77: Chart on Geographic comparison
      • Exhibit 78: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 83: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 87: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.7 South America - Market size and forecast 2023-2028
      • Exhibit 95: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.8 US - Market size and forecast 2023-2028
      • Exhibit 99: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.9 China - Market size and forecast 2023-2028
      • Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.10 Germany - Market size and forecast 2023-2028
      • Exhibit 107: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.11 UK - Market size and forecast 2023-2028
      • Exhibit 111: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.12 Japan - Market size and forecast 2023-2028
      • Exhibit 115: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 116: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 117: Chart on Japan - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on Japan - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 119: Market opportunity by geography ($ billion)
      • Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 121: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 122: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 123: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 124: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 125: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 126: Matrix on vendor position and classification
            • 12.3 Asahi Kasei Corp.
              • Exhibit 127: Asahi Kasei Corp. - Overview
              • Exhibit 128: Asahi Kasei Corp. - Business segments
              • Exhibit 129: Asahi Kasei Corp. - Key news
              • Exhibit 130: Asahi Kasei Corp. - Key offerings
              • Exhibit 131: Asahi Kasei Corp. - Segment focus
            • 12.4 BASF SE
              • Exhibit 132: BASF SE - Overview
              • Exhibit 133: BASF SE - Business segments
              • Exhibit 134: BASF SE - Key news
              • Exhibit 135: BASF SE - Key offerings
              • Exhibit 136: BASF SE - Segment focus
            • 12.5 Covestro AG
              • Exhibit 137: Covestro AG - Overview
              • Exhibit 138: Covestro AG - Business segments
              • Exhibit 139: Covestro AG - Key news
              • Exhibit 140: Covestro AG - Key offerings
              • Exhibit 141: Covestro AG - Segment focus
            • 12.6 Dow Chemical Co.
              • Exhibit 142: Dow Chemical Co. - Overview
              • Exhibit 143: Dow Chemical Co. - Business segments
              • Exhibit 144: Dow Chemical Co. - Key news
              • Exhibit 145: Dow Chemical Co. - Key offerings
              • Exhibit 146: Dow Chemical Co. - Segment focus
            • 12.7 Evonik Industries AG
              • Exhibit 147: Evonik Industries AG - Overview
              • Exhibit 148: Evonik Industries AG - Business segments
              • Exhibit 149: Evonik Industries AG - Key news
              • Exhibit 150: Evonik Industries AG - Key offerings
              • Exhibit 151: Evonik Industries AG - Segment focus
            • 12.8 GNFC Ltd.
              • Exhibit 152: GNFC Ltd. - Overview
              • Exhibit 153: GNFC Ltd. - Business segments
              • Exhibit 154: GNFC Ltd. - Key offerings
              • Exhibit 155: GNFC Ltd. - Segment focus
            • 12.9 Hanwha Corp.
              • Exhibit 156: Hanwha Corp. - Overview
              • Exhibit 157: Hanwha Corp. - Product / Service
              • Exhibit 158: Hanwha Corp. - Key news
              • Exhibit 159: Hanwha Corp. - Key offerings
            • 12.10 Huntsman International LLC
              • Exhibit 160: Huntsman International LLC - Overview
              • Exhibit 161: Huntsman International LLC - Business segments
              • Exhibit 162: Huntsman International LLC - Key news
              • Exhibit 163: Huntsman International LLC - Key offerings
              • Exhibit 164: Huntsman International LLC - Segment focus
            • 12.11 Kemipex
              • Exhibit 165: Kemipex - Overview
              • Exhibit 166: Kemipex - Product / Service
              • Exhibit 167: Kemipex - Key offerings
            • 12.12 Lanxess AG
              • Exhibit 168: Lanxess AG - Overview
              • Exhibit 169: Lanxess AG - Business segments
              • Exhibit 170: Lanxess AG - Key offerings
              • Exhibit 171: Lanxess AG - Segment focus
            • 12.13 Mitsui Chemicals Inc.
              • Exhibit 172: Mitsui Chemicals Inc. - Overview
              • Exhibit 173: Mitsui Chemicals Inc. - Business segments
              • Exhibit 174: Mitsui Chemicals Inc. - Key offerings
              • Exhibit 175: Mitsui Chemicals Inc. - Segment focus
            • 12.14 PETRONAS Chemicals Group Berhad
              • Exhibit 176: PETRONAS Chemicals Group Berhad - Overview
              • Exhibit 177: PETRONAS Chemicals Group Berhad - Business segments
              • Exhibit 178: PETRONAS Chemicals Group Berhad - Key news
              • Exhibit 179: PETRONAS Chemicals Group Berhad - Key offerings
              • Exhibit 180: PETRONAS Chemicals Group Berhad - Segment focus
            • 12.15 PTT Global Chemical Public Co. Ltd.
              • Exhibit 181: PTT Global Chemical Public Co. Ltd. - Overview
              • Exhibit 182: PTT Global Chemical Public Co. Ltd. - Business segments
              • Exhibit 183: PTT Global Chemical Public Co. Ltd. - Key news
              • Exhibit 184: PTT Global Chemical Public Co. Ltd. - Key offerings
              • Exhibit 185: PTT Global Chemical Public Co. Ltd. - Segment focus
            • 12.16 Tosoh Corp.
              • Exhibit 186: Tosoh Corp. - Overview
              • Exhibit 187: Tosoh Corp. - Business segments
              • Exhibit 188: Tosoh Corp. - Key offerings
              • Exhibit 189: Tosoh Corp. - Segment focus
            • 12.17 Wanhua Chemical Group Co. Ltd.
              • Exhibit 190: Wanhua Chemical Group Co. Ltd. - Overview
              • Exhibit 191: Wanhua Chemical Group Co. Ltd. - Product / Service
              • Exhibit 192: Wanhua Chemical Group Co. Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 193: Inclusions checklist
                • Exhibit 194: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 195: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 196: Research methodology
                • Exhibit 197: Validation techniques employed for market sizing
                • Exhibit 198: Information sources
              • 13.5 List of abbreviations
                • Exhibit 199: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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