PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211723
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211723
Phosgene Market size was valued at USD 40,701.8 Million in 2022, expanding at a CAGR of 6.6% from 2023 to 2030.
Phosgene is a name for an invisible gas with the chemical formula COCl2. It usually exists in trace levels in volcanoes and has a dreadful odor. Due to its extreme toxicity, the chemical has been a weapon in numerous major battles across the world. The substance can be produced synthetically, and it is frequently employed as a fundamental ingredient in the creation of numerous organic chemicals and pharmaceuticals. Poisonous gas is what it is at room temperature. However, when chilled at high pressure, it might be transformed into a liquid for simple transportation.
Market Dynamics
One of the key factors propelling the growth of the phosgene market is the increase in the chemical's use in the chemical, plastics, pharmaceutical, and agrochemical sectors. The manufacturing of diethyl carbonyl chloride, which is then used to hydrolyze a water-insoluble molecule that serves as an intermediate in the production of pharmaceuticals, insecticides, and colors, is highly employed, which boosts the market for phosgene. The market for phosgene is further influenced by its increasing use in chemical processes including the production of beryllium chloride, aluminum chloride, and boron trichloride as well as the extraction of metals like platinum, plutonium, uranium, and niobium. Additionally, the phosgene market is positively impacted by the expansion of the pharmaceutical industry, an increase in R&D activities, a rise in the need for better therapies, and a surge in investments.
Furthermore, the growth of the phosgene market is made profitable by technical advancement, government-sponsored R&D projects, and product developments. Due to the expansion of end-use industries, rising phosgene consumption in products like medicines and agrochemicals, easy access to raw materials, affordable labor and land, and a boost in R&D activity in the area, Asia-Pacific currently holds a monopoly on the phosgene market. In addition, the rising industrial sector along with increasing investment in the healthcare industry is also expected to play a vital role in the market growth over the forecast period. The installation of strict government rules regarding the toxicity level of phosgene, on the other hand, is the factor anticipated to hamper the growth of the phosgene market.
Segmentation Analysis:
The Global Phosgene Market is segmented on the basis of Derivatives, Applications, and Region.
The market is segmented into four categories based on Derivatives: chloroformates, isocyanates, and carbamoyl chlorides. The isocyanates segment dominates the market. Increasing demand from the healthcare sector is boosting segment growth.
The market is segmented into seven categories based on Application: polycarbonates, pharmaceuticals, agrochemicals, specialty chemicals, fine chemicals, dyes, and others. The pharmaceuticals segment dominates the market and is likely to maintain its dominance during the forecast period. This is mainly due to increased demand for phosgene in pharma product manufacturing.
Competitive Landscape:
The Global Phosgene market is moderately fragmented in nature with the players dominating the worldwide industry with a significant revenue share. Companies adopt strategic collaborations to expand their market presence. For instance, in September 2022, VanDeMark Chemical announced an investment from SK Capital in partnership with Comvest Partners.
Key features of the study:
This proposed research study on Phosgene market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Phosgene market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Phosgene market
Impact of COVID-19 on Phosgene market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Phosgene market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Phosgene market, we have also included competitive landscape and key innovator analysis for the Phosgene market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Phosgene market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Phosgene market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL PHOSGENE MARKET KEY PLAYERS
BASF SE
Dow
DuPont
Bayer AG
VanDeMark Chemical Inc.
Wanhua.
Vertellus
Atul Ltd
Paushak Ltd.
UPL
PMC ISOCHEM
H & H Products Ltd
JH-products
PPG Industries, Inc.
Farlex, Inc
Covestro AG
Tosoh Corporation
Mitsui Chemicals, Inc.
Huntsman Corporation
GLOBAL PHOSGENE MARKET, BY DERIVATIVES
Isocyanates
Chloroformates
Carbamoyl chlorides
Others
GLOBAL PHOSGENE MARKET, BY APPLICATION
Agrochemicals
Pharmaceuticals
Polycarbonates
Fine chemicals
Dyes
Specialty chemicals
Others
GLOBAL PHOSGENE MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA