Phosgene Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The phosgene market size has grown strongly in recent years. It will grow from $4.84 billion in 2024 to $5.17 billion in 2025 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to chemical manufacturing growth, polyurethane foam production, plastics and resins manufacturing, agrochemicals production, textile industry applications.

The phosgene market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to continued growth in chemical manufacturing, rising demand for polyurethane foam, increasing use in specialty polymers, growing demand for high-performance plastics, expansion of agrochemicals market. Major trends in the forecast period include innovations in water treatment technologies, advancements in metal processing, technological innovations in production, stringent regulatory environment, focus on sustainable production.

The anticipated expansion of the pharmaceutical industry is poised to drive the growth of the phosgene market in the future. The pharmaceutical sector encompasses the development, production, and marketing of drugs and medications for medical purposes. Phosgene plays a crucial role in the pharmaceutical industry as a primary building block for the synthesis of pharmaceutical active ingredients and specialty plastics. It is also utilized in the manufacturing of pharmaceutical products, such as activated amino acids and peptide synthesis. A notable example is the data from June 2023, where the European Federation of Pharmaceutical Industries and Associations reported an increase in the production value of pharmaceuticals in Europe from $347.31 billion (€323,950 million) in 2021 to $364.26 billion (€340,000 million) in 2022. Consequently, the ongoing expansion of the pharmaceutical industry is a driving force behind the growth of the phosgene market.

Major companies in the phosgene industry are increasingly adopting a strategic partnership approach. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. An example of this strategy occurred in September 2022 when SK Capital Partners, a US-based capital market company, joined forces with Comvest Partners, a US-based private equity firm, to invest in VanDeMark Chemical Inc. SK Capital's investment aimed to guide VanDeMark in expanding its presence in fine chemistries for the global life science market, specifically focusing on high-end specialty chemical intermediates, including those derived from phosgene. VanDeMark Chemical Inc., a US-based company, is a producer of phosgene and a supplier of custom and specialty chemicals.

In February 2023, Archroma, a Switzerland-based specialty chemicals company, acquired the Textile Effects business of Huntsman Corporation for an undisclosed amount. Through this acquisition, Archroma sought to establish a revitalized structure to ensure both divisions receive adequate resources and attention. Huntsman Corporation, a US-based chemical manufacturing company that produces phosgene, became a part of this strategic initiative.

Major companies operating in the phosgene market report are Altivia, Paushak Ltd., VanDemark Chemical Inc., Synthesia AS, Puyang Shenghuade Chemical Co Ltd., ISOCHEM, UPL Ltd., Atul Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC Ltd), SABIC, Clariant AG, Huntsman Corporation, Hodogaya Chemical Co Ltd., Solvay SA, Arkema Group, Celanese Corporation, Eastman Chemical Company, Praxair Inc., Westlake Chemical Corporation, PPG Industries, Braskem SA, Wanhua Chemical Group Co, Chongqing Changshou Chemical Co, Linde PLC, Dow Inc., LyondellBasell Industries, Bayer AG, BASF SE, Shandong Tianan Chemicals Co Ltd., Akzo Nobel NV.

Asia-Pacific was the largest region in the Phosgene market in 2024. The regions covered in the phosgene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phosgene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The phosgene market consists of sales of carbamates, phosphonates, toluene diisocyanate (TDI), hexamethylene diisocyanate and methylene diphenyl diisocyanate (MDI). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

Phosgene is a toxic, colorless gas with the chemical formula COCl2. It possesses a musty odor, similar to freshly cut hay or grass, especially at lower concentrations. The chemical structure of phosgene consists of a carbon atom double-bonded to an oxygen atom (carbonyl group) and single-bonded to two chlorine atoms. Due to its severe respiratory irritant properties, phosgene has been historically used in chemical warfare.

The main types of derivatives produced from phosgene include isocyanates, chloroformates, carbamoyl chlorides, and others. Isocyanates are chemical compounds containing the N=C=O functional group. They find applications in various industries, including the production of substances such as methyl diphenyl diisocyanate, toluene diisocyanate, polycarbonate resins, and more. End-users of these derivatives span across industries such as pharmaceuticals, agrochemicals, dyes, fine chemicals, polycarbonates, specialty chemicals, and others.

The phosgene market research report is one of a series of new reports that provides phosgene market statistics, including phosgene industry global market size, regional shares, competitors with a phosgene market share, detailed phosgene market segments, market trends and opportunities, and any further data you may need to thrive in the phosgene industry. This phosgene market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.