Global Toluene Diisocyanate Market 2017-2021
About Toluene Diisocyanate
Toluene diisocyanate (TDI) is a part of the diisocyanate family and refers to a pale yellow (pungent odor) or a colorless liquid (chemical) that is used in the manufacture of polyurethanes (PUs), primarily in flexible foam applications such as carpet and bedding underlay, furniture, and packaging applications. TDI also finds application in the manufacture of sealants, elastomers, adhesives, and coatings. The global TDI market is segmented based on end-users and geography. By end-users, the market is divided into flexible foam, coatings, elastomers, rigid foam, and adhesives and sealants.
Technavio’s analysts forecast the global toluene diisocyanate market to grow at a CAGR of 4.97% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global toluene diisocyanate market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Toluene Diisocyanate Market 2017-2021
Technavio recognizes the following companies as the key players in the global toluene diisocyanate market: BASF, Cangzhou Dahua Group, Covestro, Mitsui Chemicals, and The Dow Chemical Company.
Other Prominent Vendors in the market are: China National Bluestar, Hanwha Chemical, KPX chemical, NAN YA PLASTICS CORPORATION, OCI, OVERSEAS POLYMERS, Tosoh, Vencorex, Wanhua Chemical Group, and Yantai Juli Fine Chemical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is phosgene‐free channel to TDI production. The conventional channel used for the manufacture of TDI starts with the process of toluene nitration using nitric acid. This further leads to the emanation of phosgene. Phosgene refers to a colorless poisonous gas resulting from a reaction of CO2 and chlorine.”
According to the report, one driver in the market is increasing customer need and demand for TDI in mattresses, bedding, and furniture. The global demand for the use of TDI in flexible foams, particularly for mattresses and bedding, is on the rise. The reason for the increasing demand is due to the extent of comfort TDI offers as an integral part of PU foams. Modern offices and homes would be less comfortable without the use of PU foams. Flexible foams in furniture, bedding, and mattresses are soft, yet offer good support and sustain their shape. Furthermore, flexible foams are durable. The global flexible foam market for furniture and bedding applications was valued at $14.58 billion in 2016 and is expected to reach $19.24 billion by 2021, growing at a CAGR of 5.70% during the forecast period.
Further, the report states that one challenge in the market is fluctuations in prices of natural gas or crude oil. The global TDI market is influenced by the fluctuations in the prices of crude oil or natural gas. Chemical compounds, such as propylene and benzene, are used in the production of TDI. The fluctuation in the prices of these essential materials further makes it difficult for TDI manufacturers to set prices for the TDI products manufactured by them. The continual rise in crude oil and toluene prices is observed since 2009. As per Energy Information Administration (EIA), the average price of natural gas in January 2010 was $5.59 per million Btu. The price dipped down with the passage of time and reflected an average price of $3.34 per million Btu in January 2013.
BASF, Cangzhou Dahua Group, Covestro, Mitsui Chemicals, and The Dow Chemical Company, China National Bluestar, Hanwha Chemical, KPX chemical, NAN YA PLASTICS CORPORATION, OCI, OVERSEAS POLYMERS, Tosoh, Vencorex, Wanhua Chemical Group, and Yantai Juli Fine Chemical.
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