Press release
Phosgene Market Size Estimation and Pricing Trend by Bayer Group (Germany), BASF SE (Germany), VanDeMark Chemical Inc. (U.S.), Wanhua Chemical Group Co.,Ltd. (China), Vertellus Holdings LLC (U.S.), Atul Ltd, Paushak Ltd, UPL, ISOCHEM, J.H. Products
Phosgene Market to Grow Significantly with a Substantial CAGR
August 09, 2018 – KBR, Inc. (US), a global provider of differentiated professional services and technologies across the Government Services and Hydrocarbons sectors announced the receiving of a contract for license and engineering and a proprietary equipment supply by China Pingmei Shenma Group (PMSM) to build two new polycarbonate plants in Kaifeng and Pingdingshan in the Henan Province in China.
As per the contracts, both plants will utilize KBR’s proprietary phosgene-based interfacial polycarbonate technology PCMAXT. Growing demand for polycarbonate products in China is expected to present attractive opportunities for PMSM, and KBR's superior PCMAX™ technology will empower PMSM to be a market leader in the polycarbonate business.
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Global Phosgene Market - Regional Analysis
Asia Pacific region accounts for the leading market for Phosgene owing to the expansion of various application such as dyes and agrochemicals among others. Some of the APAC countries such as India, China, Vietnam, Japan, and Malaysia account for the largest consumers of Phosgene, generating the huge demand.
The demand for phosgene is expected to upsurge further on account of wide utilization of phosgene derivatives in pharmaceutical and agrochemical products, especially in India and China. Additionally, ample availability of feedstock along with the cost-competitive land and labor force are some of the major driving forces for the market growth in the region.
The Europe phosgene market standing as the second-largest market globally, closely follows the APAC market. Markets in countries such as the UK, France, Italy, and Germany have emerged as the important consumer markets, witnessing well proliferated end-use industries and the substantial investments put into innovation and R&D activities.
However, the stringent regulatory framework in Europe and North America is estimated to impede the market growth during the assessment period.
The North America market is emerging as one of the promising markets for phosgene, growing rapidly. The market is anticipated to witness an outstanding growth due to the resurging industrial sector and increasing investments, revitalizing the textile sector.
The US and Canada among the other North American countries account for the key contributors to the market growth in the region. Also, the constant expansion of the healthcare sector is one of the key drivers fostering the market growth.
Global Phosgene Market - Competitive Analysis
The key players operating in the Phosgene market compete based upon pricing, Technology, and services they strive to deliver the best quality products based on innovative technologies, and best practices. Phosgene market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in intensified competition further.
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