Latest industry research report on Toluene Diisocyanate Market. Organic compound with formulae CH3C6H3(NCO)2 is known as Toluene Diisocyanate. Furthermore, isocyanate functional groups in Toluene Diisocyanate form urethane, when it reacts with hydroxyl. Besides this TDI or Toluene Diisocyanate is also used to boost octane in gasoline. On the other hand, some of the minor chemical applications include the production of benzoic acid, phenol and nitrobenzene. There are several drivers and opportunities that are influencing the growth of the Toluene Diisocyanate market worldwide. Growing need for flexible foam across several countries is driving the TDI market. Moreover, flexible foam today sees great demand owing to its increasing customer need for mattress and bedding worldwide.
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On the other hand, rising demand for TDI application in the manufacturing of automotive seats is believed to observe a robust growth in the next 5 to 6 years. A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant up gradation, joint ventures and collaborations. Key market players active in the market are Overseas Polymers Pvt. Ltd., Huntsman Corporation., BorsodChem, The Dow Chemical Company, Mitsui Chemicals, Inc., Bayer and Lyondell Chemical Company.
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The global Toluene Diisocyanate Market is segmented based on application and geography.
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