Phosgene Market
According to MRFR analysis, the global phosgene market is estimated to reach USD 1.24 billion by the end of 2025 at a healthy CAGR of 4.6%. The most common isocyanate derivatives derived from phosgene are toluene diisocyanate and methylene diphenyl diisocyanate, which are primarily used in bedding and upholstery applications.
Competitive Dynamics
The major players operating in the phosgene market are Bayer Group (Germany), BASF SE (Germany), VanDeMark Chemical Inc. (U.S.), Wanhua Chemical Group Co.,Ltd. (China), Vertellus Holdings LLC (U.S.), Atul Ltd (India), Paushak Ltd (India), UPL (India), ISOCHEM (France), J.H. Products (U.S.) among others.
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Market Dynamics
Growing demand for bedding and furniture as a result of the population and buying power is expected to propel the market forward. Rising disposable income, continuous urbanization, and improved living standards are all important factors that contribute to the growth of the phosgene sector. In addition, the global demand for phosgene has increased due to the increased use of pharmaceuticals.
Furthermore, the global demand for phosgene is expected to rise due to the continued growth of the agrochemical industry and widespread use of pesticides and herbicides to meet the demand for high-quality crop production. Significant investment in ongoing RD projects by key manufacturers operating in the industry, as well as strong acceptance within end-use industries, are expected to boost phosgene demand. Furthermore, the global market is projected to expand due to rising demand for phosgene in the preparation of medicinal products, as well as rising demand for better medical facilities. Phosgene and its derivatives are used in a variety of products, including dyes, specialty chemicals, pharmaceuticals, and agrochemicals. The rapid growth of various end-use industries in developing countries is likely to provide market players with lucrative opportunities.
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However, the global market is expected to be hampered in the coming years by strict government restrictions on phosgene toxicity levels, as well as the challenge of non-toxic substitutes.
Market segmentation
On the basis of derivatives, the global phosgene market has been categorized as isocyanates, chloroformates, carbamoyl chlorides, and others. Because of its widespread use in the manufacture of rigid foams, adhesives, coatings, and elastomers, isocyanates are expected to develop at the fastest rate. Furthermore, demand for phosgene is expected to rise over the assessment period due to increased use of construction chemicals and continued growth in the construction sector.
The global Phosgene Market has been divided into agrochemicals, pharmaceuticals, polycarbonates, fine chemicals, dyes, specialty chemicals, and others based on application. The pharmaceutical industry is expected to grow at a healthy rate due to increased RD and new product production. The agrochemical industry is expected to expand significantly as people become more aware of the advantages of phosgene-based chemicals, such as their high performance and ease of use.
Regional Overview
During the forecast era, the Asia-Pacific market is projected to lead with the highest CAGR. Agriculture, automotive, and pharmaceuticals are only a few of the end-use industries that are rising. Increased use of phosgene in agrochemicals, dyes, and medicines is expected to drive regional market expansion. Due to widespread use of phosgene derivatives in bedding and furniture, as well as agrochemicals applications, high demand for phosgene is expected to rise in Asia-Pacific developing countries such as India, China, and Malaysia. Factors such as easy access to raw materials, low labor and land costs, and rising RD advances to minimize phosgene toxicity are expected to fuel regional market growth.
Because of the high use of phosgene in pharmaceuticals, dyes, and specialty chemicals applications, the European industry had the second-largest market share in 2021. On the basis of rising RD and product innovation expenditures, Germany is the leading country in the region, followed by Spain, Italy, and France. However, in the coming years, a strict regulatory structure on phosgene toxicity is likely to stifle regional market development.
Because of the recovery of the manufacturing sector combined with increased investments in the textile and healthcare sectors, the North American market accounted for a significant market share in 2018 and is expected to expand at a moderate CAGR during the assessment period. Furthermore, the regional market is expected to expand due to the continued expansion of the medical sector and rising demand for phosgene in pharmaceutical products.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions Limitations
2.3 Markets Structure
2.4 Key Takeaways
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics Of The Global Phosgene Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology
5 Market Factor Analysis Of The Global Phosgene Market
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Manufacturers/Producers
5.1.3 Distributors/Retailers/Wholesalers/E-Commerce
5.1.4 End User
5.2 Porter’s Five Forces Analysis
5.2.1 Threat Of New Entrants
5.2.2 Bargaining Power Of Buyers
5.2.3 Bargaining Power Of Suppliers
5.2.4 Threat Of Substitutes
5.2.5 Intensity Of Competitive Rivalry
5.3 Pricing Analysis
- Global Phosgene Market, By Derivatives
6.1 Introduction
6.2 Isocyanates
6.2.1 Market Estimates Forecast, 2020-2027
6.2.2 Market Estimates Forecast, By Region, 2020-2027
6.3 Chloroformates
6.3.1 Market Estimates Forecast, 2020-2027
6.3.2 Market Estimates Forecast, By Region, 2020-2027
6.4 Carbamoyl Chlorides
6.4.1 Market Estimates Forecast, 2020-2027
6.4.2 Market Estimates Forecast, By Region, 2020-2027
6.5 Others
6.5.1 Market Estimates Forecast, 2020-2027
6.5.2 Market Estimates Forecast, By Region, 2020-2027
- Global Phosgene Market, By Application
7.1 Introduction
7.2 Agrochemicals
7.2.1 Market Estimates Forecast, 2020-2027
7.2.2 Market Estimates Forecast, By Region, 2020-2027
7.3 Pharmaceuticals
7.3.1 Market Estimates Forecast, 2020-2027
7.3.2 Market Estimates Forecast, By Region, 2020-2027
7.4 Polycarbonates
7.4.1 Market Estimates Forecast, 2020-2027
7.4.2 Market Estimates Forecast, By Region, 2020-2027
7.5 Dyes
7.5.1 Market Estimates Forecast, 2020-2027
7.5.2 Market Estimates Forecast, By Region, 2020-2027
7.6 Fine Chemicals
7.6.1 Market Estimates Forecast, 2020-2027
7.6.2 Market Estimates Forecast, By Region, 2020-2027
7.7 Specialty Chemicals
7.7.1 Market Estimates Forecast, 2020-2027
7.7.2 Market Estimates Forecast, By Region, 2020-2027
7.8 Others
7.8.1 Market Estimates Forecast, 2020-2027
7.8.2 Market Estimates Forecast, By Region, 2020-2027
- Global Phosgene Market, By Region
8.1 Introduction
8.2 North America
8.2.1 Market Estimates Forecast, 2020-2027
8.2.2 Market Estimates Forecast, By Derivatives, 2020-2027
8.2.3 Market Estimates Forecast, By Application, 2020-2027
8.2.4 US
8.2.4.1 Market Estimates Forecast, 2020-2027
8.2.4.2 Market Estimates Forecast, By Derivatives, 2020-2027
8.2.4.3 Market Estimates Forecast, Application, 2020-2027
8.2.5 Canada
8.2.5.1 Market Estimates Forecast, 2020-2027
8.2.5.2 Market Estimates Forecast, By Derivatives, 2020-2027
8.2.5.3 Market Estimates Forecast, By Application, 2020-2027
8.3 Europe
8.3.1 Market Estimates Forecast, 2020-2027
8.3.2 Market Estimates Forecast, By Derivatives, 2020-2027
8.3.3 Market Estimates Forecast, By Application, 2020-2027
- Company Landscape
9.1 Introduction
9.2 Market Strategy
9.3 Key Development Analysis (Expansion/Merger Acquisitions/Joint Venture/New Product Development/Agreement/Investment)
- Company Profiles
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