The global phosgene market was valued at $4.2 billion in 2020, and is projected to reach $6.9 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.
Phosgene is a colorless 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 odor and is toxic in nature, thus is used for making chemical war weapons. It is used to make numerous chemicals and has various industrial uses owing to its combustibility, instability, and reactivity properties.
Phosgene market may witness significant growth over the predicted timeframe owing to its wide applications in various chemicals like polymeric MDI (PMMDI), methylene diphenyl diisocyanate (MDI) and toluene disocyanate (TDI). MDI finds uses in non-foam applications such as paint & coating, sealants, and adhesives as well as in reaction injection-molding, high performance elastomers, and spandex fibers. In addition, polymeric MDI (PMMDI) 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 expected to foster phosgene market growth.
However, high toxicity of phosgene is expected to hamper the growth of the phosgene market during the forecast period. Furthermore, increasing consumption of phosgene in pesticides and insecticides is expected to provide growth opportunities for the phosgene market during the forecast period.
The global phosgene market size is segmented on the basis of derivative, application, and region. By derivatives, it is analyzed across isocyanates, chloroformates, and carbamoyl chlorides. By application, it is segmented into agrochemicals, pharmaceuticals, polycarbonates, dyes, fine chemicals, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major key players operating in the global phosgene market include The Dow Chemical Company, BASF SE, Covestro, PPG Industries, Mitsui Chemical, Huntsman Corporation, Rubican, Yantai Wanhua, Vandemark Chemical Inc., and Vertellus Holdings LLC.
COVID-19 analysis:
Phosgene is a colorless 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 odor and is toxic in nature, thus is used for making chemical war weapons. It is used to make numerous chemicals and has various industrial uses owing to its combustibility, instability, and reactivity properties.
Phosgene market may witness significant growth over the predicted timeframe owing to its wide applications in various chemicals like polymeric MDI (PMMDI), methylene diphenyl diisocyanate (MDI) and toluene disocyanate (TDI). MDI finds uses in non-foam applications such as paint & coating, sealants, and adhesives as well as in reaction injection-molding, high performance elastomers, and spandex fibers. In addition, polymeric MDI (PMMDI) 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 expected to foster phosgene market growth.
However, high toxicity of phosgene is expected to hamper the growth of the phosgene market during the forecast period. Furthermore, increasing consumption of phosgene in pesticides and insecticides is expected to provide growth opportunities for the phosgene market during the forecast period.
The global phosgene market size is segmented on the basis of derivative, application, and region. By derivatives, it is analyzed across isocyanates, chloroformates, and carbamoyl chlorides. By application, it is segmented into agrochemicals, pharmaceuticals, polycarbonates, dyes, fine chemicals, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major key players operating in the global phosgene market include The Dow Chemical Company, BASF SE, Covestro, PPG Industries, Mitsui Chemical, Huntsman Corporation, Rubican, Yantai Wanhua, Vandemark Chemical Inc., and Vertellus Holdings LLC.
COVID-19 analysis:
- According to the International Monetary Fund (IMF), owing to the outbreak of novel coronavirus (COVID-19), the global economy shrunk by 3.0% in 2020. Many countries are under strict lockdowns, which have forced several sectors to shut down their operations. This has halted manufacturing activities and reduced the demand and production of phosgene.
- Phosgene is widely used in production of agrochemicals. The crop protection sector is in huge demand in recent years, with its increasing importance on the growth. This is because it has a lot to do with the well-being of the plants and the consumers. The components that are used in the production of agrochemicals are sometimes chemicals and sometimes biological species, which ultimately help in controlling the pests from damaging the crops or helps improve soil fertility. This results in healthy crop production with no health issues. With these concerns, farmers have started the usage of various agrochemicals to prevent damage and hence, increase productivity. Due to the emergence of the COVID-19 pandemic, there has been a supply chain disruption because of which the agricultural sector had to face problems such as labor unavailability, transportation barriers, restriction for market access, and lack of inventories in some regions. Many fertilizer and pesticide manufacturers were facing issues due to lack of raw material availability, which has led to the reduction of various agrochemical product manufacturing. Owing to this the demand for phosgene from agrochemical manufacturer across the globe has been declined significantly, thereby declining the growth of the market during the forecast period.
- Phosgene is widely used as intermediate compound in manufacturing of polycarbonates. The outbreak of the COVID-19 pandemic has restricted the operating activities of several industries, including the end-user industries of the market studied. Construction activities across the world have been slowed down due to the shortage of labor, and in some cases, activities have been suspended owing to the lockdown regulations. The disruption of the global supply chain, due to the lockdown, has been a key factor behind the decline in construction activities and, in turn, downfall in demand for the polycarbonate. Due to decline in consumption of polycarbonate, the demand for phosgene from polycarbonate manufacturers has been significantly reduced, thereby affecting the growth of phosgene market negatively.
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The report outlines the current trends and future scenario of the global phosgene market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- Major countries in major regions have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global phosgene market study.
- The profiles of key players and with their key strategic developments are enlisted in the global phosgene market report.
KEY MARKET segments
By Derivatives
- Isocyanates
- Chloroformates
- Carbamoyl Chlorides
By Application
- Agrochemicals
- Pharmaceuticals
- Polycarbonates
- Dyes
- Fine Chemicals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL PHOSGENE MARKET, BY DERIVATIVE
CHAPTER 5: GLOBAL PHOSGENE MARKET, BY APPLICATION
CHAPTER 6: GLOBAL PHOSGENE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- The Dow Chemical Company
- BASF SE
- Covestro
- PPG Industries
- Mitsui Chemical
- Huntsman Corporation
- Rubican
- Yantai Wanhua
- Vandemark Chemical Inc.
- Vertellus Holdings LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 299 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 4.2 billion |
| Forecasted Market Value ( USD | $ 6.9 billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
