Among various applications, the coating segment gained the highest market share and is expected to maintain the trend
The coatings segment gained nearly 85% of the total market share, 2017. Coatings and paints are indispensable components of any automobile and machinery manufacturing industry. They include automotive coatings, agricultural machinery, aircrafts, railway locomotives and coaches, plastic articles and various others. The constant growth of automobile and machinery industry is expected to drive the demand of aliphatic isocyanates for coatings.
HDI emerges as the highest revenue generating segment in the global aliphatic isocyanate market
The HDI aliphatic isocyanates market is majorly driven by the growth in end-user industries. In addition to this, major aliphatic isocyanate manufacturers are expanding their operations in the Asia-Pacific region, which is driving the growth of this segment. Moreover, surging demand of HDI in the manufacturing of a variety of products, including automobiles, aircraft, flooring, furniture, safety equipment, machinery, medical devices and infrastructure projects is fuelling the market growth.
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