Press release
Key Influencer in the Phosgene Market 2025: Pharmaceutical Industry Expansion Catalyzes Phosgene Market Driver
Phosgene Market
The phosgene market has grown strongly in recent years. It will grow from $4.84 billion in 2024 to $5.17 billion in 2025, at a CAGR of 7.0%. The growth is attributed to the expansion of chemical manufacturing, the production of polyurethane foam, plastics and resins manufacturing, agrochemical production, and textile industry applications.
The phosgene market is expected to experience strong growth, reaching $6.43 billion by 2029 with a CAGR of 5.6%. This growth is driven by increased chemical manufacturing, demand for polyurethane foam, the use of specialty polymers, high-performance plastics, and the expansion of the agrochemical market. Trends include innovations in water treatment, metal processing, production technologies, regulatory pressures, and sustainable practices.
What Factors Are Propelling the Expansion of the Phosgene Market?
The expanding pharmaceutical industry is expected to contribute to the growth of the phosgene market. The pharmaceutical sector involves the research, development, production, and marketing of drugs and medications. Phosgene is widely utilized in pharmaceutical manufacturing, serving as a crucial component in producing active pharmaceutical ingredients, specialty plastics, and peptides. For example, in June 2023, the European Federation of Pharmaceutical Industries and Associations reported that pharmaceutical production value in Europe increased from $347.31 billion (€323,950 million) in 2021 to $364.26 billion (€340,000 million) in 2022. Consequently, the pharmaceutical industry's growth is driving the expansion of the phosgene market.
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Which Businesses Are at the Forefront of Phosgene Market Development?
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
What Are the Latest Innovations in the Phosgene Market?
Leading companies in the phosgene industry are implementing strategic partnerships to drive business growth and expand their market reach. Strategic partnerships involve businesses leveraging each other's resources and expertise for mutual success. For example, in September 2022, SK Capital Partners, a US-based capital market firm, partnered with Comvest Partners, a US-based private equity company, to invest in VanDeMark Chemical Inc. The investment by SK Capital was aimed at strengthening VanDeMark's position in the fine chemicals sector for the global life sciences market, particularly in specialty chemical intermediates, including phosgene derivatives. VanDeMark Chemical Inc. is a US-based manufacturer and supplier of phosgene and custom specialty chemicals.
How Is the Phosgene Market Segmented?
The phosgene market covered in this report is segmented -
1) By Derivatives: Isocyanates, Chloroformates, Carbamoyl Chlorides, Other Derivatives
2) By Application: Methyl Diphenyl Diisocyanate, Toluene Diisocyanate, Polycarbonate Resins, Others Application
3) By End-Use: Pharmaceuticals, Agrochemicals, Dyes, Fine Chemicals, Polycarbonates, Specialty Chemicals, Other End-users
Subsegments:
1) By Isocyanates: Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI), Hexamethylene Diisocyanate (HDI), Other Isocyanates
2) By Chloroformates: Ethyl Chloroformate, Methyl Chloroformate, Butyl Chloroformate, Other Chloroformates
3) By Carbamoyl Chlorides: N-Methyl Carbamoyl Chloride, N-Ethyl Carbamoyl Chloride, N-Butyl Carbamoyl Chloride, Other Carbamoyl Chlorides
4) By Other Derivatives: Polycarbonate, Phosgene Oxime, Other Specialty Chemicals
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Where Is the Phosgene Market Growth Most Prominent?
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.
What Is Covered In The Phosgene Global Market Report?
- Market Size Analysis: Analyze the Phosgene Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Phosgene Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Phosgene Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Phosgene Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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