Albany, New York - The market for TDI (toluene diisocyanate) is expected to reach a value of $7.6 billion by 2016, according to a new market report by Transparency Market Research, "Toluene Diisocyanate (TDI) Market: Global Market Analysis & Forecast (2009 - 2016)."
The report says the value of the TDI market reached $5.8 billion in 2011 and is expected to reach the $7.6 billion figure by 2016, growing at a CAGR of 5.5 percent. TDI volumes are expected to reach 2425.4 kilotonnes by 2016, with Asia Pacific taking the largest share, with Europe in second place, by 2016.
TDI's major use is to make flexible polyurethane foam, primarily used as cushioning in furniture and transport. Increasing demand in its end-use segments is increasing demand for TDI;.
Transparency Market Research notes that "Any change in demand and supply of the major raw materials such as benzene and toluene, and crude oil prices, has a major impact on TDI prices," adding that, "Continuous rises in TDI bulk prices" have been seen since 2009, caused by rises in toluene and crude oil prices.
Flexible PU foams accounted for 85.2 percent of the TDI market revenue in 2011, and is expected to grow with a CAGR of 5.6 percent during 2011 - 2016, the report says.
Asia Pacific is the fastest growing regional market, expected to reach $3 billion in 2016 with a CAGR of 6.8 percent during 2011 - 2016. Asia Pacific is expected to have a volume share of 39 percent of the global TDI market in 2016.
(see more at www.transparencymarketresearch.com)