Phosgene is an industrial chemical used in the manufacture of pesticides and plastics. It is flexible in nature and can be converted into a liquid form for easy transportation. The global phosgene market report by Market Research Future (MRFR) takes a look at the various drivers, challenges, opportunities, and trends for the period of 2021 to 2030 (forecast period). The impact of the COVID-19 pandemic has been analyzed with respect to the market.

Competition Outlook

UPL, Vertellus Holdings LLC, VanDeMark Chemical Inc., BASF SE, Bayer AG, Wanhua Chemical Group Co. Ltd, ISOCHEM, Paushak Ltd, Atul Ltd, and H. Products are noteworthy players of the global phosgene market.

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Market Scope

The global phosgene market valuation can touch USD 1.24 billion by 2030 at a CAGR of 4.6% over the forecast period. The market can progress owing to the use of phosgene derivatives in the use of upholstery and bedding. Procurement of bedroom furniture, rapid urbanization, and increased spending levels of customers can drive the market growth. Applications of these derivatives comprising agrochemicals, specialty chemicals, pharmaceuticals, and dyes will take the market ahead. The agrarian economies of Asia Pacific (APAC) and its use in pesticides and insecticides can provide a plethora of opportunities for the global phosgene market.

Toxic nature of phosgene and availability of non-toxic substitutes can threaten the global phosgene market growth.

Segmentation

The global phosgene market has been segmented based on derivatives and application.

On the basis of derivatives, the global phosgene market has been categorized as isocyanates, chloroformates, carbamoyl chlorides, and others.

Based on application, the global phosgene market has been classified as agrochemicals, pharmaceuticals, polycarbonates, fine chemicals, dyes, specialty chemicals, and others.

Regional Analysis

The global phosgene market has been studied across five key regions, namely Asia Pacific (APAC), the Middle East & Africa (MEA), North America, Latin America, and Europe.

The APAC phosgene market is expected to dominate with the highest CAGR during the forecast period. This is largely attributed to the accelerated growth of end-use industries such as pharmaceuticals, agriculture, and automotive. Increasing consumption of phosgene in agrochemicals, dyes, and medicines is likely to propel the regional market growth. High demand for phosgene is predicted to surge in China, India, and Malaysia owing to wide consumption of phosgene derivatives in bedding and furniture and agrochemicals applications.

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The Europe phosgene market held the second-largest market share in 2018 owing to the high consumption of phosgene in specialty chemicals, pharmaceuticals, and dyes. Germany is expected to be the biggest contributor of the region followed by France, Spain, and Italy on account of growing expenditure for research and development.

North America is likely to grow at a modest CAGR during the assessment period owing to the revival of industries combined with increasing investments in textile and healthcare sectors. The continuous expansion of the medical sector and increasing demand for phosgene in pharmaceutical products is further anticipated to propel the regional market growth.

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