Phosgene Market Share, Size, Trends, Industry Analysis Report, By Derivative Type (Isocyanates, Chloroformates, Carbamoyl Chlorides, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 – 2032

Phosgene Market Share, Size, Trends, Industry Analysis Report, By Derivative Type (Isocyanates, Chloroformates, Carbamoyl Chlorides, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 – 2032

The global phosgene market size is expected to reach USD 7.84 billion by 2032, according to a new study by Polaris Market Research. The report “Phosgene Market Share, Size, Trends, Industry Analysis Report, By Derivative Type (Isocyanates, Chloroformates, Carbamoyl Chlorides, and Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising prevalence regarding the product utilization for the production of agrochemicals in order to meet the food safety requirements and surging use of phosgene in the synthesis of diethyl carbamoyl chloride along with the significant expansion of pharmaceutical industry and a continuous uptick in R&D activities, are among the prominent factors boosting the market. Additionally, industries such as construction, automotive, and furniture are driving the demand for polyurethane foams, coatings, adhesives, and sealants, which results in higher demand and adoption of phosgene over the coming years.

For instance, in September 2022, VanDeMark, a leading manufacturer of life science chemistries, announced the recent investment from the SK Capital in a joint partnership with the Comvest Partners, that will expand the company’s presence in fine chemistries and help them to get deeper into the market.

With the increasing environmental concerns and regulations, there is a growing demand for sustainable solutions in the chemical industry and various phosgene manufacturers have the opportunity to explore greener alternatives and processes that minimize the environmental impact of phosgene production. Thereby, investing in research and development for eco-friendly technologies that help companies capture this emerging demand for sustainable solutions is gaining huge traction in the last few years.

In addition, the significant advancements in monitoring and safety systems which have enhanced the handling and storage of phosgene that also includes the development of real-time monitoring technologies to detect leaks, advanced sensors, and improved safety protocols, while ensuring the safe handling of phosgene and minimize the risk of exposure to workers and the environment, is also among the one of the most emerging trends globally shaping the market.

Phosgene Market Report Highlights

Isocyanates segment accounted for global market share in 2022, mainly due to its growing use in automotive industry and applications in rigid & flexible foams and paints & varnishes

Methyl diphenyl diisocyanate segment held the majority market share in 2022, owing to significant growth in the number of applications across wide range of sectors including thermoplastic polyurethanes

Specialty chemicals segment is expected to exhibit fastest growth in the study period, which is highly attributable to surging demand for specialty polycarbonates in construction and medical industries

Asia Pacific region dominated the market with substantial share in 2022, on account of presence of prominent market players and well-established and developed automotive and chemical sectors

The global key market players include Vertellus Holdings, Dow Chemical Company, Huntsman Corporation, Shandong Tianan Chemicals, PPG Industries, Tosoh Corporation, and Bayer AG

Polaris Market Research has segmented the phosgene market report based on derivative, application, end-use, and region:

Phosgene, Derivative Outlook (Revenue - USD Billion, 2023 - 2032)

Isocyanates

Chloroformates

Carbamoyl Chlorides

Others

Phosgene, Application Outlook (Revenue - USD Billion, 2023 - 2032)

Methyl Diphenyl Diisocyanate

Toluene Diisocyanate

Polycarbonate Resins

Others

Phosgene, End-Use Outlook (Revenue - USD Billion, 2023 - 2032)

Pharmaceuticals

Agrochemicals

Dyes

Fine Chemicals

Polycarbonates

Specialty Chemicals

Others

Phosgene, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa