Isocyanate Market worth $39.68 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 26, 2026 /PRNewswire/ -- According to MarketsandMarkets, "Isocyanate Market by Type (MDI, TDI, Aliphatic), Application (Foams, Adhesives & Sealants, Coatings), End-use Industry (Automotive, Building & Construction, Furniture & Bedding, Consumer Goods, Industrial Coatings), and Region - Global Forecast to 2030", the isocyanates market is projected to grow from USD 32.23 billion in 2025 to USD 39.68 billion by 2030, registering a CAGR of 4.2%.

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Isocyanate Market Size & Forecast:

• Market Size Available for Years: 2021-2030
• 2025 Market Size: USD 32.23 billion
• 2030 Projected Market Size: USD 39.68 Billion
• CAGR (2025-2030): 4.2% 

Isocyanate Market Trends & Insights:

• The market for isocyanates is driven by growing demand for polyurethane-based products across all major application areas, including construction, automotive, furniture, appliances, and industrial. Key factors driving this market are urbanization and infrastructure development, which lead to higher demand for rigid polyurethane foams to insulate energy-efficient buildings and cold storage facilities. The growth of vehicle production, including electric cars, continues to drive demand for lightweight foams, coatings, and composites. With the continued expansion of the furniture and bedding markets, as well as rapid industrialization in developing countries in the Asia Pacific region, increased manufacturing activity will further boost demand for flexible foams. Other factors supporting the steady growth of the isocyanates market include rapid industry advancements; numerous capacity-expansion projects; a shift to sustainable, low-VOC formulations; and continued technological innovation in the marketplace.
• Asia Pacific is projected to be the largest and fastest-growing market for isocyanates, at a CAGR of 4.6% during the forecast period.
• Foams is the largest segment among applications and will grow at a CAGR of 4.3% between 2025 and 2030.
• Building & construction will be the fastest-growing end-use industry in the isocyanates market, at a CAGR of 4.3% during the forecast period.
• MDI will be the fastest growing type segment in the isocyanate market during the forecast period.
• The isocyanate market is driven by product innovation, capacity expansions, and strategic collaborations among global leaders, such as BASF, Wanhua, and Covestro AG. These companies are focusing on capacity expansion and product launches for sustaining market position.
• Evonik Industries, Shandong Inov Polyurethane, and Arkem Kimya San. Tic. A. S. are considered as key startups/SMEs in the isocyanate market. 

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The isocyanates market is growing due to increased demand for polyurethane materials across many sectors of the economy: construction, automotive manufacturing, furniture manufacturing, appliances, and industrial products. Energy-efficient building projects drive demand for polyurethane foam insulation in construction, as these foams provide superior thermal performance while meeting more stringent energy codes. Other drivers of consumption in these emerging economies include rapid urbanization and infrastructure development. In the automotive manufacturing industry, rising vehicle production, a drive toward lightweight products, and the growing number of electric vehicles will all result in additional demand for flexible foam, coatings, and composite components produced from polyurethane materials that enhance comfort and improve energy efficiency. The growth of this sector has also led to increased use of flexible polyurethane materials in the manufacture of furniture and bedding products. In addition, demand for insulating materials is increasing due to the growing cold chain logistics and refrigerator market. The continued growth of the isocyanate market will also be supported by technological advancements and capacity increases in the Asia Pacific market, as well as the expanding use of sustainable, low-VOC, and bio-based formulations. The combination of these factors will support the continued growth of the isocyanate market while maintaining steady growth in the face of regulatory and raw material challenges.

MDI to record the highest CAGR among types in the isocyanates market, in terms of value, during the forecast period.

Due to the growing number of high-growth industries using MDI (methylene diphenyl diisocyanate), MDI is the fastest-growing segment of the isocyanates market. Rigid polyurethane foam (the most widely used isocyanate) is a major application for MDI, used in building insulation, refrigeration, and cold storage, among others, due to its superior mechanical properties. The expanding global commitment to energy efficiency and sustainable building materials will continue to drive demand for MDI-based insulating materials. Additionally, MDI is seeing growing use in the automotive industry (including lightweight composite materials, seats, and vehicle interiors) with the introduction of electric vehicles. MDI's lower volatility, better mechanical properties, and broader versatility compared with TDI make it ideally suited for industrial applications, adhesive products, and elastomer production. In addition to increasing production capacity (mostly located in the Asia Pacific region), technological advancements and innovations focused on sustainable products will accelerate MDI's tremendous growth in the marketplace.

Automotive segment to record highest CAGR among end-use industries in isocyanates market, in terms of value, from 2025 to 2030.

The automotive industry is not only the largest end-use segment for the isocyanates market but also the fastest-growing. This growth is driven primarily by three factors: increased vehicle production (which drives demand), increased demand for lightweight materials (to improve fuel economy and extend range in electric vehicles), and the rapid transition to electric vehicles (EVs). Isocyanates are key components in producing a range of polyurethane foam applications, including seating, headrests, armrests, interior panels, and acoustic insulation, which enhance comfort and sound attenuation. Furthermore, MDI-based composites and elastomers are used to produce lightweight structural components that improve fuel economy and extend the range of EV batteries. Strong consumer preferences for improved safety, durability, and interior aesthetics encourage the use of polyurethane in coatings, adhesives, and sealants. Rising global automotive manufacturing activity, combined with more stringent worldwide emission regulations, is driving the automotive industry toward greater reliance on isocyanate-based materials. In addition, the continued expansion of automotive production in developing countries and advances in high-performance polyurethane systems continue to drive increased demand for isocyanates in this industry. Together, these factors make the automotive industry the fastest-growing end-use segment for the global isocyanates market.

Asia Pacific is expected to be fastest-growing and largest market for isocyanates during the forecast period. 

The Asia Pacific region is estimated to be the fastest-growing regional market for isocyanates, driven by rapid industrialization, continued growth in infrastructure projects, and strong expansion across industrial sectors (automotive, construction, furniture, electronics). China, India, Vietnam, and Indonesia have experienced significant urban growth recently, increasing demand for polyurethane-based insulation materials used in residential and commercial buildings. Additionally, rising vehicle production (including electric vehicles) in the Asia Pacific region will continue to drive demand for flexible foams, coatings, adhesives, and lightweight composite materials made from isocyanates. Rising disposable income and a growing middle class are fueling demand for furniture, appliances, and consumer products, further increasing polyurethane use. The region has ample domestic capacity to meet this growing demand, along with a number of cost-competitive manufacturers and ongoing capacity expansions by several major chemical manufacturers. Additionally, industrial and infrastructure investment encouraged by local governments within the region will further support market growth. Overall, these economic and industrial drivers will continue to make the Asia Pacific region the fastest-growing regional market for isocyanates.

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Key Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some top players: BASF (Germany), Covestro AG (Germany), Wanhua (China), Huntsman International LLC (US), Tosoh Corporation (Japan), SABIC (Saudi Arabia), Mitsui Chemicals Inc. (Japan), Hanwha Solutions (South Korea), Cangzhou Dahua Group Co., Ltd. (China), and Dow (US).

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