Updated Sep 28, 2022 06:14

Isocyanates Market in the European Union

Market Overview
The EU isocyanates market reduced modestly to $ in , falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a perceptible setback. Over the period under review, the market reached the maximum level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.

In value terms, isocyanates production declined to $ in estimated in export price. Overall, production saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of %. The level of production peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.

Germany ( tons) constituted the country with the largest volume of isocyanates production, accounting for % of total volume. Moreover, isocyanates production in Germany exceeded the figures recorded by the second-largest producer, Hungary ( tons), twofold. France ( tons) ranked third in terms of total production with a % share.

From 2007 to , the average annual growth rate of volume in Germany amounted to +%. The remaining producing countries recorded the following average annual rates of production growth: Hungary (+% per year) and France (-% per year).


Consumption
In , consumption of isocyanates decreased by -% to tons, falling for the second year in a row after two years of growth. Overall, consumption showed a noticeable curtailment. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The value of the isocyanates market in the European Union reduced modestly to $ in , declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a pronounced downturn. The level of consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.


Consumption by Country
The countries with the highest volumes of consumption in were Germany ( tons), Spain ( tons) and France ( tons), with a combined % share of total consumption. These countries were followed by Italy, Poland, Romania, Belgium, the Czech Republic, Greece, Portugal and Sweden, which together accounted for a further %.

From 2007 to , the biggest increases were recorded for Belgium (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Germany ($), France ($) and Italy ($) were the countries with the highest levels of market value in , with a combined % share of the total market. The Czech Republic, Spain, Poland, Sweden, Romania, Belgium, Greece and Portugal lagged somewhat behind, together comprising a further %.

Among the main consuming countries, Belgium, with a CAGR of +%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

From 2007 to , the average annual growth rate of the isocyanates per capita consumption in No country was relatively modest.


Market Forecast
Depressed by shrinking demand for isocyanates in the European Union, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .