Construction and Automotive Industries to Drive Strong Global Isocyanates Demand
The global isocyanates market is witnessing consistent demand in the construction industry due to its reactive chemical properties and its usage in the production of adhesives, foams, and elastomers.
A recent study by Fact.MR projects that the global isocyanate market will record an expansion rate of around 6% from 2019-2027. The global isocyanates market is witnessing consistent demand in the construction industry due to its reactive chemical properties and its usage in the production of adhesives, foams, and elastomers. Increasing vehicle production in countries like China, Mexico, Japan, U.S., and Germany, along with vehicle aging, is one of the critical drivers for sales of isocyanates.
The industry produces a range of intermediate chemicals that are used in a variety of applications. A considerable portion of the structured and manufactured goods available are coated, and isocyanates are present in most of the high-quality, long-lasting coatings.