PUBLISHER: The Business Research Company | PRODUCT CODE: 1455304
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455304
Phosgene is a toxic, colorless gas with the chemical formula COCl2. It possesses a musty odor, similar to freshly cut hay or grass, especially at lower concentrations. The chemical structure of phosgene consists of a carbon atom double-bonded to an oxygen atom (carbonyl group) and single-bonded to two chlorine atoms. Due to its severe respiratory irritant properties, phosgene has been historically used in chemical warfare.
The main types of derivatives produced from phosgene include isocyanates, chloroformates, carbamoyl chlorides, and others. Isocyanates are chemical compounds containing the N=C=O functional group. They find applications in various industries, including the production of substances such as methyl diphenyl diisocyanate, toluene diisocyanate, polycarbonate resins, and more. End-users of these derivatives span across industries such as pharmaceuticals, agrochemicals, dyes, fine chemicals, polycarbonates, specialty chemicals, and others.
The phosgene market research report is one of a series of new reports from The Business Research Company that provides phosgene market statistics, including phosgene industry global market size, regional shares, competitors with a phosgene market share, detailed phosgene market segments, market trends and opportunities, and any further data you may need to thrive in the phosgene industry. This phosgene market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenario of the industry.
The phosgene market size has grown strongly in recent years. It will grow from $4.51 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The historical period witnessed growth primarily driven by the expansion of chemical manufacturing, the production of polyurethane foam, manufacturing of plastics and resins, the production of agrochemicals, and applications in the textile industry.
The phosgene market size is expected to see strong growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period is linked to the sustained expansion of chemical manufacturing, a rising demand for polyurethane foam, an increased utilization in specialty polymers, a growing market for high-performance plastics, and the continued expansion of the agrochemicals market. Key trends expected during the forecast period encompass innovations in water treatment technologies, advancements in metal processing, technological innovations in production, a stringent regulatory environment, and a heightened focus on sustainable production.
The anticipated expansion of the pharmaceutical industry is poised to drive the growth of the phosgene market in the future. The pharmaceutical sector encompasses the development, production, and marketing of drugs and medications for medical purposes. Phosgene plays a crucial role in the pharmaceutical industry as a primary building block for the synthesis of pharmaceutical active ingredients and specialty plastics. It is also utilized in the manufacturing of pharmaceutical products, such as activated amino acids and peptide synthesis. A notable example is the data from June 2023, where the European Federation of Pharmaceutical Industries and Associations reported an increase in the production value of pharmaceuticals in Europe from $347.31 billion (€323,950 million) in 2021 to $364.26 billion (€340,000 million) in 2022. Consequently, the ongoing expansion of the pharmaceutical industry is a driving force behind the growth of the phosgene market.
The growth of the phosgene market is expected to be impacted by the toxic and hazardous nature of phosgene. Toxic and hazardous substances have the potential to cause harm to humans and the environment, leading to either immediate or long-term adverse effects. As highlighted in an August 2022 document from the University of New Mexico Research, phosgene is a highly poisonous, irritating, and corrosive gas that can adversely affect all bodily tissues. Inhalation of even small amounts, such as 20-30 ppm for 1 minute, can induce severe respiratory irritation, resulting in symptoms such as a burning throat, nausea, vomiting, chest discomfort, coughing, shortness of breath, and headaches. Therefore, the inherent toxicity and hazardous characteristics of phosgene have a substantial impact on the market's growth.
Major companies in the phosgene industry are increasingly adopting a strategic partnership approach. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. An example of this strategy occurred in September 2022 when SK Capital Partners, a US-based capital market company, joined forces with Comvest Partners, a US-based private equity firm, to invest in VanDeMark Chemical Inc. SK Capital's investment aimed to guide VanDeMark in expanding its presence in fine chemistries for the global life science market, specifically focusing on high-end specialty chemical intermediates, including those derived from phosgene. VanDeMark Chemical Inc., a US-based company, is a producer of phosgene and a supplier of custom and specialty chemicals.
In February 2023, Archroma, a Switzerland-based specialty chemicals company, acquired the Textile Effects business of Huntsman Corporation for an undisclosed amount. Through this acquisition, Archroma sought to establish a revitalized structure to ensure both divisions receive adequate resources and attention. Huntsman Corporation, a US-based chemical manufacturing company that produces phosgene, became a part of this strategic initiative.
Major companies operating in the phosgene market report are Altivia, Paushak Ltd., VanDemark Chemical Inc., Synthesia AS, Puyang Shenghuade Chemical Co Ltd., ISOCHEM, UPL Ltd., Atul Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC Ltd), SABIC, Clariant AG, Huntsman Corporation, Hodogaya Chemical Co Ltd., Solvay SA, Arkema Group, Celanese Corporation, Eastman Chemical Company, Praxair Inc., Westlake Chemical Corporation, PPG Industries, Braskem SA, Wanhua Chemical Group Co, Chongqing Changshou Chemical Co, Linde PLC, Dow Inc., LyondellBasell Industries, Bayer AG, BASF SE, Shandong Tianan Chemicals Co Ltd., Akzo Nobel NV
Asia-Pacific was the largest region in the Phosgene market in 2023. The regions covered in the phosgene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the phosgene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The phosgene market consists of sales of carbamates, phosphonates, toluene diisocyanate (TDI), hexamethylene diisocyanate and methylene diphenyl diisocyanate (MDI). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Phosgene Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on phosgene market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for phosgene ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The phosgene market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.