Market Scenario:
Phosgene is a colorless chemical compound formed by reacting carbon monoxide and chlorine. It is a colorless gas consisting of unpleasant odor. It is mostly produced synthetically and is toxic in nature. It is used as a building block in the synthesis of many organic compounds and pharmaceuticals as well as a prominent industrial reagent. It is considered as a poisonous gas at room temperature, but with applying cooling and pressure it can be converted into a liquid so that it can be stored and shipped. Its derivatives are extensively utilized in various applications such as pharmaceuticals, agrochemicals, specialty chemicals, dyes, and others.
Several companies are expanding their market, owing to the rising demand for pesticide and insecticide coupled with increasing agriculture. Some of the derivatives of phosgene are utilized in the manufacturing of construction chemicals. In the manufacturing of solvents and to improvise the performance of polymers, tetra butyl urea is used. The two most important derivatives of phosgene are Methylene Diphenyl Diisocyanate and Toluene Diisocyanate. They are used for manufacturing thermal insulators in freezers and are also utilized in the construction industry.
It is also used for producing many isocyanate and polycarbonates that have applications in several industrial sectors. Some of the significant market factors recognized in the market are rising consumption of insecticides and pesticides products, growing population, raising awareness, and increasing production capacities of Toluene Diisocyanate (TDI) and Methylenediphenyl Diisocyanate (MDI). The increasing population is the major reason for the rising demand for basic household necessities such as cushions, pillow, bedding, and upholstered furniture.
Whereas, stringent regulations related to the toxicity level of the product along with a risk of substitutes are anticipated to hinder the overall growth of the market in the developed and developing nations. It is widely used in manufacturing Polyurethane foams and might positively impact the market growth in the coming years. The rising demand for furniture and bedding owing to the increasing population is a major factor that will trigger the growth of the market in the coming future.
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Regional Analysis:-
The global phosgene market is segmented on the basis of the region covering North America, Asia Pacific, Europe, and LAMEA. The Asia Pacific region is predicted to rise rapidly during the forecast period, owing to the development of various applications such as agrochemicals and dyes among others. The demand for phosgene is anticipated to surge in different countries such as China, India, Japan, Vietnam, and Malaysia on account of broad utilization of phosgene derivatives in agrochemical and pharmaceutical products. Moreover, cheap land & labor cost, ease of availability of raw material, and increasing development strategies to fulfill the demand for phosgene in the growing applications are the important factors for the regional market growth.
North America is predicted to witness a remarkable growth in the market due to the recovery of industrial sector together with increasing investments to revitalize textile sector. The U.S. and Canada are among the major contributors to the regional market growth and are expected to show a significant regional market growth on account of the continuous expansion of the medical sector. European countries such as Germany, Italy, France, and the U.K have emerged as the significant consumer markets due to the presence of numerous end-use industries and rising expenditure on innovation and R&D.
Latin American countries such as Brazil, Argentina, Mexico, and Colombia are also anticipated to witness reasonable growth with the involvement of new business models. Additionally, increasing consumer spending on textile products is expected to give a new impetus to the regional market growth. The Middle East & Africa is predicted to witness a stable growth during the forecast period. Heavy investment in residential, institutional as well as commercial construction sector in Saudi Arabia, Turkey, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE) is anticipated to positively influence the industrial growth over the forecast period.
Key Players:
• BASF SE
• Mitsui Chemicals Inc.
• Shanghai Lianheng Isocyanate Co Ltd.
• Liaoning Beifang Jinhua Polyurethane Corporation
• Wanhua Chemical Group Co., Ltd
• The Dow Chemical Company
• Huntsman International LLC.
• Covestro AG
• Tosoh Corporation
• Cangzhou Dahua Group Co., Ltd. and Others
Business Intelligence:
DowDuPont acquires The Dow Chemical Company in September 2017. The Dow Chemical Company manufactures and sells chemicals, agricultural services, plastic materials, and other specialized services and products.
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Phosgene Market Segmentation:
By Application:
• Dyes
• Agrochemicals
• Pharmaceuticals
• Specialty Chemicals
• Others
By Derivatives:
• Isocyanates
• Carboamoyl Chlorides
• Chloroformates
• Others
By Region:
• North America
o The U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o Russia
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia Pacific
• LAMEA
o Brazil
o South Africa
o Saudi Arabia
o Rest of LAMEA
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