You might not be aware of toluene diisocyanate, but surprisingly the flexible foam in your car seat or cushion comprises this substance.
The world is moving towards more robust, steady raw materials that can be blended well with other compounds to derive a better quality product.
And this particular compound is used as an intermediate to produce flexible polyurethane foam and other products in demand in the market.
Physical properties and applicability
Toluene diisocyanate, also known as TDI, is obtained by the nitration of toluene. This compound is a vital raw material for manufacturing flexible polyurethane foam that is used in garments, cushions, gloves, packaging materials, etc.
Aside from this, it is also applied in various polyurethane coatings for wood finishes, PU-based alkyd paints, anti-corrosion coatings, etc.
Key market trend
Presently many products use toluene diisocyanate in manufacturing items. One such material is foam.
1. As you know, one of the foam's chief constituents is this compound. The industry, bedding manufacturers, and various sectors where foams are used are the automobile industry.
2. Flexible foam is the most sought-after product due to its durability, better insulation, good chemical resistance, fast recycling, and thermal stability at increased temperatures for various applications.
3. The growth of the furniture sector due to high purchasing power coupled with the strength and longevity of the products will also lead to increased foam sales.
4. The updated building codes where energy-efficient structures encourage the use of polyurethane-based foams for insulating materials in your home, fridges, and also for other purposes have contributed to the reasonable product cost with good performance in the long run.
All these factors together will drive the toluene diisocyanate market upward in the forecast period of about five years.
Anticipation of the region that can dominate this market
Since the most densely populated countries are situated in the Asia Pacific region, the market for toluene diisocyanate is said to be flourishing in this part of the world.
1. The developing nations having high populations propagate the demand for this compound. Its diverse application in furniture, paints, coatings, and also the packaging is projected to affect market growth in these regions.
2. In the forecast period, the furniture market is expected to grow at a CAGR of above 5.4%, according to a reputed publisher.
3.The industrial and infrastructural sectors are going through a significant transformation in developing countries, and as a result, paints and coating products are in high demand. Hence, this compound will gradually be purchased in these regions in high quantities as it is one of the prime raw materials for paints.
4. The flexible foam in the packaging industries is also making way for the rising popularity of this compound by the respective firms engaged in its manufacturing process.
5. The only drawback is the automobile segment, where the demand for this compound is low because of the reduced sale of the vehicle due to an increase in fuel price coupled with the outbreak of the pandemic.
Hence, you can infer that all other major sectors where this substance is incorporated have bright prospects that will navigate the sales upward in the forecast period.
Final say
The global market for toluene diisocyanate is widely scattered as all the players are distributed in various regions of the world, and so there is no significant market share of any particular firm.
The reputed companies have a strong presence as they are trustworthy and reliable suppliers in this field.
Hence, going by the overall picture, you need to focus on the regular news related to this market to make the most from it, which will boost your business prospects.