Press release
Phosgene Market on Path to Hit $6.25 Billion by 2029 at 5.2% CAGR
Phosgene
Phosgene Market Outlook: What Size And CAGR Are Anticipated By 2025?
The size of the phosgene market has experienced substantial growth recently. It is anticipated to expand from $4.84 billion in 2024 to $5.1 billion in 2025, increasing at a compound annual growth rate (CAGR) of 5.5%. The rise experienced in the previous period is due to factors such as growth in chemical manufacturing, the production of polyurethane foam, plastics and resin manufacturing, the production of agrochemicals, and applications in the textile industry.
What Is the Expected CAGR for the Phosgene Market Growth Through 2029?
The market size of phosgene is predicted to witness significant expansion in the coming years, reaching $6.25 billion by 2029 with a compound annual growth rate (CAGR) of 5.2%. This projected increase can be attributed to sustained development in the chemical manufacturing sector, an increased need for polyurethane foam, an escalating use in specialty polymers, a growing requirement for high-performance plastics, and an expanding agrochemicals market. Expected trends for the forecasting period include advancement in water treatment technologies, progressions in metal processing, technological breakthroughs in production, stringent regulation landscapes, and a focus on sustainable production.
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What Are the Primary Drivers Behind Phosgene Market Growth?
The pharmaceutical industry's growth is anticipated to boost the phosgene market's expansion. The scope of this industry involves developing, manufacturing, and marketing medicinal drugs. One key component of this process is phosgene, which serves an essential role in producing pharmaceutical active ingredients, specialty plastics, and medicinal products including activated amino acids and peptide synthesis. In June 2023, data from the Belgium-based European Federation of Pharmaceutical Industries and Associations revealed a surge in Europe's pharmaceutical production value. It went up 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 being fuelled by the ongoing expansion of the pharmaceutical industry.
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What Are the Key Segments Driving Phosgene Market Growth?
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
What Are the Technological Trends Impacting the Phosgene Market?
Top corporations in the phosgene sector are embracing a strategic alliance model to spur their growth and strategic proliferation. Such alliances involve companies harnessing each other's expertise and assets to bring about mutual benefits and success. For example, in September 2022, SK Capital Partners, a US capital market firm, collaborated with Comvest Partners, a US private equity company to invest in VanDeMark Chemical Inc. The objective of SK Capital's investment was to guide VanDeMark towards broadening its reach in the global life science market's fine chemistries, with an emphasis on high-end specialty chemical intermediates, including those sourced from phosgene. VanDeMark Chemical Inc is a phosgene producer based in the US and also supplies custom and specialty chemicals.
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Who Are the Major Competitors in the Global Phosgene Market?
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
Which Region Dominates the Phosgene Market Share in 2025?
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.
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Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
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