Press release
Phosgene Market Report 2024: Strategies And Recent Developments | Altivia, Paushak Ltd, VanDemark Chemical Inc, Synthesia AS, Puyang Shenghuade Chemical Co Ltd
Phosgene Market Characteristics
The Business Research Company offers in-depth market insights through Phosgene Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The phosgene market size has grown strongly in recent years. It will grow from $4.51 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. 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 $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. 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.
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Market Segmentation:
The main types of derivatives in phosgene are isocyanates, chloroformates, carbamoyl chlorides, and others. Isocyanate refers to a chemical compound containing the N=C=O functional group. This is used in various applications, including methyl diphenyl diisocyanate, toluene diisocyanate, polycarbonate resins, and others and end users are pharmaceuticals, agrochemicals, dyes, fine chemicals, polycarbonates, specialty chemicals and others.
Major Driver - Pharmaceutical Industry Expansion Catalyzes Phosgene Market
The expansion of the pharmaceutical industry is expected to propel the growth of the phosgene market going forward. The pharmaceutical industry is a sector that encompasses the development, production, and marketing of drugs and medications for medical use. Phosgene is used in the pharmaceutical industry as a key building block for the production of pharmaceutical active ingredients and specialty plastics and the manufacture of pharmaceutical products, including activated amino acids and peptide synthesis. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations, a Belgium-based trade association and lobbying organization, the production value of pharmaceuticals in Europe increased from $347.31 billion (€ 323,950 million) in 2021 to $364.26 billion (€340,000 million) in 2022. Therefore, the expansion of the pharmaceutical industry is driving the growth of the phosgene market.
Competitive Landscape:
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
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https://www.thebusinessresearchcompany.com/report/phosgene-global-market-report
Top Trend - SK Capital Partnered With Comvest Partners For Strategic Investment
Major companies operating in the phosgene industry are adopting a strategic partnership approach to accelerate the company's growth and strategic expansion. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2022, SK Capital Partners, a US-based capital market company, partnered with Comvest Partners, a US-based private equity firm, to invest in VanDeMark Chemical Inc. SK Capital's investment was aimed at steering VanDeMark towards expanding its presence in fine chemistries for the global life science market, with a focus on high-end specialty chemical intermediates, including those derived from phosgene. VanDeMark Chemical Inc is a US-based company producer of phosgene, and supplier of custom and specialty chemicals.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Phosgene Market Characteristics
3. Phosgene Market Trends And Strategies
4. Phosgene Market - Macro Economic Scenario
5. Phosgene Market Size And Growth
…..
27. Phosgene Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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