Phosgene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4142
Phosgene Market size may witness significant growth over the predicted timeframe owing to its wide applications in various chemicals like polymeric MDI (PMMDI), p,p?-methylene diphenyl diisocyanate (MDI) and toluene disocyanate (TDI). MDI find uses in non-foam applications such as paint & coating, sealants, and adhesives as well as in reaction injection-molding, high performance elastomers, and spandex fibres. In addition, PMPPI is used primarily in the manufacturing of polyurethane foams which is used in building insulation and refrigeration. Increasing demand for MDI and PMMDI from electronics, packaging and coating industries is likely to foster phosgene market growth.
It is a colourless organic chemical compound with chemical formula COCl2 having low melting point. It is produced artificially through reaction of carbon monoxide with chlorine in the presence of carbon catalyst. It has a suffocating odour and is toxic in nature, thus is used for making chemical war weapons. It is used to make numerous chemicals and embraces numerous industrial uses owing to its combustibility, instability, and reactivity properties.
Phosgene market size is likely to be driven by its utilization in pharmaceutical, agrochemical, polycarbonates, and chemical industries. It is widely used to manufacture diethylcarbomoyl chloride which is used to hydrolyse water insoluble compound and is extensively used as an intermediate for the production of pesticides, pharmaceuticals, and dyes. Global pesticide market is predicted to surpass USD 90 billion by 2025 owing to increasing importance of pesticides to enhance agricultural production, thereby stimulating industry growth.
It is used in polyurethane and polycarbonate manufacturing units which are used to produce dyes and polycarbonates. Global polyurethane market size is predicted was USD 65.5 billion in 2018 on account of its increasing demand for lightweight, durable products and growing advanced manufacturing technologies for polyurethane which may foster the phosgene market growth.
Phosgene demand from metal industry may boost the market size owing to its utilisation for platinum, plutonium, uranium, and niobium metal extraction. It is also used in chemical industries for production of chemical such as beryllium chloride, aluminum chloride, & boron trichloride. Global specialty chemical market size is predicted to surpass USD 1.95 trillion by 2025 on account of declining arable land and necessity to improve crop yields, which is likely to augment product demand.
North America phosgene market size, led by U.S., Canada, and Mexico is likely to show significant rise owing to rising product demand in agrochemical industry for manufacturing of synthetic fertilizers and pesticides may drive the regional industry growth. U.S. agricultural pesticide market may surpass USD 3 billion by 2025. It is used to enhance crop production and quality which in turn produces high yield, which would boost product demand.
Europe led by UK, France, Italy, and Germany market size is predicted to rise over the forecast timeframe. Increasing product consumption in pharmaceutical, dyes, and specialty chemicals may drive the regional industry growth. Germany pharmaceutical market is predicted to surpass USD 67.5 billion by 2025 on account of expansion of pharmaceuticals plants and extensive R&D activities supported by government, thereby stimulating regional industry growth.
Asia Pacific phosgene market share, led by India, Japan, and China may witness significant growth by the end of foreseeable timeframe owing to increasing demand for its derivatives such as methylene diphenyl diisocyanate and toluene diisocyanate. Regional methylene diphenyl market share is expected to surpass USD 10 billion by 2019 on account of growing applications in construction, automobile, & furniture industries, which is likely to boost product demand.
Extreme use of phosgene in agrochemicals causes contamination of water, soil, and air, in addition to causing toxicity in humans. Moreover, rising concerns regarding excessive use of chemicals in agriculture is hampering the product demand. Companies are investing in research & development and adopting advanced production technologies to reduce the toxicity of the product.
Global phosgene market share is significantly competitive and includes manufacturers such as Wanhua Chemical Group, Vertellus Holdings, Pmc Isochem, JH-Products, Bayer AG, Dow Chemical, and VanDeMark Chemical.
By Application, 2014-2025 (Ton) (USD Million)
- Fine Chemicals
By Derivatives, 2014-2025 (Ton) (USD Million)
- Carbamoyl Chlorides
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Wanhua Chemical Group Co., Ltd
- Vertellus Holdings
- PMC ISOCHEM
- Bayer AG
- Dow Chemical
- DuPont, Rubican
- VanDeMark Chemical
- PPG Industries
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