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Phosgene Market - By Derivative (Isocyanates, Chloroformates, Carbamoyl Chlorides), By Application (Agrochemicals, Polycarbonates, Pharmaceuticals, Fine Chemicals, Dyes, Specialty Chemicals) & Forecast, 2023 – 2032

  • Report ID: GMI4142
  • Published Date: Aug 2023
  • Report Format: PDF

Phosgene Industry Analysis

Phosgene Market size was valued at around USD 41.9 billion in 2022 and is anticipated to grow at a CAGR of 5.5% between 2023 and 2032. Phosgene is a key raw material in the production of isocyanates, which are used in polyurethane foams, coatings, adhesives, and elastomers. Phosgene is used in the synthesis of polycarbonate, a versatile engineering plastic used in automotive parts, electronics, and construction materials.
 

Phosgene Market

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Phosgene is used in the synthesis of carbamates, which are precursors to various agrochemicals and pesticides. Phosgene is used in the synthesis of pharmaceutical intermediates and active ingredients, as well as in the production of herbicides, insecticides, and fungicides.
 

 

Phosgene is highly toxic and poses severe health hazards if mishandled, requiring strict safety measures and proper training for handling and storage. Accidental releases of phosgene can lead to chemical incidents that endanger workers, the public, and the environment, necessitating robust safety protocols. The highly hazardous nature of phosgene is subject to strict regulations, compliance with which is crucial to ensure safe production, transportation, and use. Thus, the risks associated with Phosgene may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

Movement restrictions and reduced transportation capacity led to delays in the delivery of raw materials and finished products. Many manufacturing facilities were temporarily closed or operated at reduced capacities due to lockdowns, impacting phosgene production. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
 

Phosgene Market Trends

Increasing emphasis on sustainability is driving the development of greener and safer phosgene production processes with reduced environmental impact. Research into alternative methods for phosgene synthesis, such as carbonylation processes, aims to minimize the use of hazardous chemicals. Phosgene is being explored for the synthesis of advanced materials, including polymers with specialized properties for niche applications.
 

Phosgene Derivative Segmentation

Phosgene Market Size, By Derivative, 2021 - 2032 (USD Billion)

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Based on derivative, the phosgene market is segmented as isocyanates, chloroformates, carbamoyl chlorides, others. Isocyanates held a majority market value of USD 12.5 billion in 2022. Isocyanates are critical components in the production of polyurethane foams, coatings, adhesives, and elastomers used in industries like construction, automotive, and furniture.
 

Phosgene Application Segmentation

Phosgene Market Revenue Share, By Application, (2022)

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Based on application, the phosgene market is segmented as agrochemicals, polycarbonates, pharmaceuticals, fine chemicals, dyes, specialty chemicals, others. Agrochemicals held a dominant market share of around 27% in 2022 and is expected to grow at a lucrative pace through 2032. Carbamates are used in the production of agrochemicals, including pesticides and herbicides, to protect crops from pests and diseases.
 

Phosgene Regional Analysis

U.S. Phosgene Market Size, 2021- 2032 (USD Billion)

U.S. dominated the North American region with majority market share and a revenue of USD 8.6 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The robust construction sector in North America drives demand for polyurethane-based insulation, coatings, and foams used in residential and commercial buildings.
 

Phosgene Industry Leaders

Some of the major business players operating in the phosgene market are BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, Wanhua Chemical Group Co., Ltd., OCI Company Ltd., Puyang Shenghuade Chemical Co., Ltd., Jilin Tely Chemical Co., Ltd., Chongqing Changshou Chemical Co., Ltd., Shandong Lantian Disinfection Technology Co., Ltd., Shandong Tianhong Chemical Co., Ltd., Shandong Fine Chemical Co., Ltd., Yuneng Chemical Co., Ltd., Shandong Luyue Chemical Co., Ltd., Xuzhou JianPing Chemical Co., Ltd. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Phosgene Industry News:

  • In May 2022, BASF SE launched Phosgene (COCl2) A1.
     
  • In November 2022, Huntsman Corporation announced that it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.
     

Phosgene market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Derivative

  • Isocyanates
  • Chloroformates
  • Carbamoyl Chlorides
  • Others

By Application

  • Agrochemicals
  • Polycarbonates
  • Pharmaceuticals
  • Fine Chemicals
  • Dyes
  • Specialty Chemicals
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for phosgene was valued at USD 41.9 billion in 2022 and will reach USD 71.8 billion by 2032 due to its extensive usage as a key raw material in the production of several isocyanates worldwide.

Phosgene market size from the isocyanates derivative segment recorded USD 12.5 billion in 2022 and will witness significant growth from 2023-2032 on account of growing adoption in the production of polyurethane foams, coatings, adhesives, and elastomers.

U.S. phosgene industry size was USD 8.6 billion in 2022 and is expected to garner significant CAGR from 2023-2032 owing to the presence of robust construction sector in the region.

BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, Wanhua Chemical Group Co., Ltd., OCI Company Ltd., Puyang Shenghuade Chemical Co., Ltd., Jilin Tely Chemical Co., Ltd., and Chongqing Changshou Chemical Co., Ltd. are some of the major phosgene companies worldwide.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 137
  • Countries covered: 21
  • Pages: 120
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