Market Research Future’s analysis of the Phosgene Market suggests significant growth in the coming years. Phosgene is an organic compound which is normally found in traces amounts in volcanoes. However, more significantly, Phosgene is synthetically products and is toxic in nature. It has been used previously as a chemical weapon. The prominent use of Phosgene today is in industrial applications and pharmaceutical applications. The derivatives of Phosgene are also used in the manufacturing of certain construction chemicals.
In industrial applications, Phosgene is regarded as a valuable building block for the production of urethanes and other types of plastics. It is also used to a certain degree in the production of pesticides, agrochemicals, dyes, and several other applications. The high demand for plastics especially high performance and long-term use plastic is expected to drive the demand for Phosgene as certain types of plastic production continue to grow. It can also be used in the production of specialty chemicals and pharmaceutical products. The increased demand for various end-use items due to a rise in disposable income is expected to drive the growth of the Global Phosgene Market. Rising consumption of pesticides and insecticides is also likely to have a positive impact on the Phosgene Market. Moreover, the high demand for pharmaceutical products is expected to propel the growth of the market. The expansion of end-use industries where phosgene is used, particularly in emerging economies in response to changing consumption patterns will also influence growth.
The toxicity of Phosgene is a restraining factor for the global market. Moreover, the threat of more efficient substitutes and stringent regulations regarding Phosgene is expected to slow down market growth. However, previously discussed consumption pattern change is expected to yield new opportunities are economic progress improves in emerging economies.
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Market players of note included in MRFR’s analysis are BASF SE (Germany), Wanhua Chemical Group Co.,Ltd. (China), ISOCHEM (France), Bayer Group (Germany), J.H. Products (U.S.), VanDeMark Chemical Inc. (U.S.), UPL (India), Paushak Ltd (India), Vertellus Holdings LLC (U.S.), and Atul Ltd (India). These market players have been analyzed for their competitive role in the Global Phosgene Market.
Segments of the Global Phosgene Market, have been determined in MRFR’s report on the Basis of Application, Derivatives, and Region.
Applications of Phosgene have been segmented into pharmaceuticals, agrochemicals, dyes, specialty chemicals, and others.
Derivatives of Phosgene in the global market include chloroformates, cardoamoyl chlorides, isocyanates, and others. Isocyanates make up more than 80% of the total market share, making it the leading segment among derivatives.
Regions covered in MRFR’s Global Phosgene Market report include Europe, Latin America, the Middle East & Africa, North America, and the Asia Pacific.
The Asia Pacific Phosgene Market came out ahead as the largest region in the global market and is followed by Europe and North America. North America is anticipating substantial growth due to the rapid recovery of the industrial sector in combination with increasing investment towards the same. U.S and Canada are leading country level markets in North America. Meanwhile, the European Phosgene Market is spurred by the presence of leading country-level markets such as U.K, Germany and France. The presence of several end-use industries where Phosgene is used extensively and the increased spending on R&D activities expected to drive the market. The Asia Pacific market is growing at a truly rapid rate due to the high demand for Phosgene in the production of dyes and agrochemicals. Agriculture and textile are key sectors in emerging economies of the APAC, and their ongoing expansion is expected to have a positive influence on market growth.
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