Press release
Evolving Market Trends In The Phosgene Industry: SK Capital Partnered With Comvest Partners For Strategic Investment
Phosgene
What Is the Expected Phosgene Market Size During the Forecast Period?
The market for phosgene has experienced a vigorous surge over the recent years. It is projected to expand from a valuation of $4.84 billion in 2024 to $5.17 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.0%. The flourishing growth seen in the past years is linked to factors such as the evolution of the chemical manufacturing sector, increased production of polyurethane foam, the growth in the plastic and resins manufacturing industry, the rise in agrochemicals production, and the adoption of phosgene in the textile industry.
In the ensuing years, the phosgene market size is predicted to experience substantial growth. The market is projected to escalate to $6.43 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%. The projected growth during this period can be ascribed to continuous expansion in chemical manufacturing, amplified demand for polyurethane foam, rising usage in specialty polymers, increasing demand for high-performance plastics, and growth in the agrochemicals market. Key trends anticipated during the forecast period encompass developments in water treatment technologies, advancements in metal processing, technological breakthroughs in production, rigorous regulatory environment, and a concentrated impetus towards sustainable production.
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What Are the High-Growth Segments in the Phosgene Market?
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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What Key Drivers Are Expected to Influence Future Phosgene Market Growth?
The phosgene market's expected growth is attributed to the pharmaceutical industry's expansion. In the production of pharmaceuticals, phosgene is a crucial element as it is a fundamental building block for producing active pharmaceutical ingredients and specialty plastics, as well as the manufacture of pharmaceutical products like activated amino acids and peptide synthesis. For example, the European Federation of Pharmaceutical Industries and Associations reported in June 2023 that the value of pharmaceutical production in Europe rose from $347.31 billion (€ 323,950 million) in 2021 to $364.26 billion (€340,000 million) in 2022. Consequently, the phosgene market's growth is influenced by the pharmaceutical industry's expansion. The hazardous and toxic nature of phosgene has an impact on the phosgene market, which could affect its growth. These substances can be harmful to both humans and the environment as they are either toxic or can induce prolonged diseases. A research document published by the University of New Mexico in August 2022, for instance, noted that phosgene is an extremely harmful, irritating, and corrosive gas that can affect all body tissues. Inhaling it can result in deadly respiratory damage. Inhalation of 20-30 ppm for just one minute can cause severe respiratory irritation symptoms such as throat burning, nausea, vomiting, chest discomfort, cough, shortness of breath, and headache. As such, the toxic and hazardous nature of phosgene influences its market's growth.
Which Companies Hold the Largest Share Across Different Phosgene Market Segments?
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 Trends Are Driving Growth in The Phosgene Market?
Many leading firms within the phosgene industry are moving towards strategic partnerships as a method of stimulating their expansion and growth. This involves utilising the capacities and resources of other companies for reciprocal benefits and achievements. An example of this came in September 2022, when US capital market firm SK Capital Partners formed a strategic partnership with Comvest Partners, another American private equity company. Their shared intention was to contribute to VanDeMark Chemical Inc., with SK Capital aiming to push the company towards broadening its operations within fine chemistries in the global life science industry. This was specifically focused on superior quality specialty chemical intermediates, among which were those originating from phosgene. VanDeMark Chemical Inc is an American-based manufacturer of phosgene and a supplier of distinctive and customised chemicals.
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What Are the Emerging Geographies for The Phosgene Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Phosgene Market?
2. What is the CAGR expected in the Phosgene Market?
3. What Are the Key Innovations Transforming the Phosgene Industry?
4. Which Region Is Leading the Phosgene Market?
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