The global isocyanates market is likely to derive growth from the presence of several large-scale companies across the world. According to a report by Fortune Business Insights, titled “Isocyanates Market Size, Share & Industry Analysis, By Type (Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI), Others (Aliphatic & cycloaliphatic)), By Application (Foams (Rigid Foam, Flexible Foam)Paints & Coatings, Elastomers, Adhesives & Sealants, Others) Others and Regional Forecast, 2022-29,” the market will rise considerable driven by the rising construction and building activities across the world.
Increasing Number of Company Mergers Will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Accounting to the increasing applications of isocyanates, particularly in the manufacturing of foam, major companies are looking to merge. A few large scale companies are also looking to acquire SMEs, with the aim of establishing a wider consumer base. In August 2019, Wanhua Chemical Group Co. Ltd. announced that it has completed the acquisition of a major stake in Connell Polyurethane, a China-based manufacturer of MDI. Wanhua’s acquisition will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other company mergers, similar to this, that have also made a considerable impact on market growth.
List of companies profiled in the report:
- The Dow Chemical Company
- Hanwha Chemical, Huntsman Corporation
- Anderson Development Company
- BASF SE
- Evonik Industries
- Mitsui Chemicals, Inc.
- Wanhua Chemical Group Co., Ltd.
- Tosoh Corporation
- Asahi Kasei Advance Corporation
- Kumho Mitsui Chemicals
Information Source-
https://www.fortunebusinessinsights.com/isocynates-market-102351
