Isocyanates Market - Forecast (2021 - 2026)
According to International trade center, the world wooden furniture industry was valued at $27 billion in 2018. Moreover, the valuation of the furniture industry is poised to grow at CAGR of 6% during 2017 – 2018. The demand for mattress padding and carpet cushioning is on a rise owing to increase in global wooden furniture, which is ensuring the prosperity of the isocyanates market. Furthermore, the growing demand for isocyanates in the automotive and construction industries are further fueling the market growth. The global isocyanates market attained a value of $34.4 billion in 2018, and also the demand is poised to exhibit a CAGR of 6.9% during the forecast period 2019 - 2025. APAC is the global leader in isocyanates market with a regional share of 36% in 2018. Isocyanates are extensively used in the production of rigid foams, flexible foams, paints, coatings, adhesives, sealants, elastomers and binders, and flooring materials. Additionally, the increased demand for isocyanates in...