The German isocyanates market has shown fluctuations in volume over the past decade, reaching 342.66 million kilograms in 2023. There was a noticeable dip from 2018 to 2021, with the volume decreasing each year, reaching a low in 2021. A recovery is evident in the subsequent years, particularly with a substantial year-on-year increase of 7.11% in 2022. By 2023, the market had grown by 1.23% year-on-year. The last five years, from 2018 to 2023, saw a compound annual growth rate (CAGR) of approximately 1.02%, indicating a gradual stabilization.
In the coming years, focus will be on sustainable and eco-friendly production processes, potentially driving further growth. Market players may also seek to innovate with alternative raw materials and invest in advanced technologies to improve product efficiency, aligning with environmental regulations and evolving consumer preferences.
How does Germany rank in Isocyanates Market Size Volume?
| # | 5 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 342,660,000 | 2023 | +1.23% | +1.02% | |
| 2 | 2 Italy | 137,870,000 | 2023 | +0.11% | +0.098% | View data |
| 3 | 3 United Kingdom | 43,685,000 | 2023 | +0.67% | -0.33% | View data |
| 4 | 4 Lithuania | 7,471,000 | 2023 | +3.71% | +3.64% | View data |
| 5 | 5 Sweden | 3,712,300 | 2023 | -5.85% | -4.92% | View data |
