Global Phosgene Marketis forecast to reach USD 6,389.0 Million by 2028, according to a new report by Reports and Data. Global Phosgene can be defined as an organic compound with the chemical formula COCl2. In regards to its traits, it is colorless; in low concentrations, its scent is similar to freshly cut hay or grass. The organic compound is an important industrial building block, in particular for the manufacturing of polycarbonate plastics and urethanes. However, it is highly poisonous and became used as a chemical weapon for in World War I, wherein it was accountable for 85,000 deaths. Along with its industrial manufacturing, in a limited amount, it occurs from the disintegration and the combustion of organochlorine compounds. Industrially, the compound is produced by passing chlorine gas and purified carbon monoxide through a layer of porous activated carbon that acts as a catalyst. When chlorinated hydrocarbon compounds are exposed to high temperatures, the organic compound can also be formed. Substances that are, at times, created or used industry that contain the elements carbon, hydrogen, and chlorine are chlorinated hydrocarbon compounds. The significant portion of Global Phosgene is to produce isocyanates, the most essential being methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI). These are precursors to polyurethanes. Thus, the wide arena of application and expanding end-user industries are supporting the growth of the sector.
In regards to region, Europe can be seen to occupy a considerable share of the market. The market share held by the region is attributed to the continuous expansion of the healthcare sector, rising demand for the compound from the chemical, which is supporting the expansion of the market in this region.
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Competitive Landscape:
The following are the key industry participants:
BASF SE, Dow Chemical, Covestro, Rubican, PPG Industries, Mitsui Chemical, Yantai Wanhua, Huntsman, VanDeMark Chemical Inc., and Vertellus Holdings LLC.
Further key findings from the report suggest:
The Global Phosgene market held a market share of USD 4,433.9 Million in the year 2020 that is forecasted to grow at a rate of 4.6% during the forecast period.
In context to Derivatives, the Chloroformates segment is projected to witness a considerable growth rate of 6.2% during the forecast period, which is expected to occupy more than 20.0% of the market by 2028. The agriculture sector, associated elevating demand for insecticides and its applicability in these products is resulting in the increasing demand for this derivative of the organic compound, which contributes to the growth rate witnessed by this segment.
In context to Application, the Polycarbonate resins segment is projected to witness a considerable growth rate of 5.1% during the forecast period, which is expected to hold more than 25.0% of the market by 2028. The traits of this resin-like heat resistance, toughness, and dimensional stability have resulted in its growing popularity in industrial uses requiring superior shock absorption, lightweight like in the automotive sector.
In regards to End-use, the Agrochemicals segment held a considerable share of the market of more than 25.0% in 2020, with a CAGR of 4.8% during the forecast period. The continuous expansion of the agriculture sector and applicability of the organic compound in insecticides contributes to the market share held by this segment.
In regards to the region, North America held more than 20.0% of the market in 2020, with a CAGR of 4.8% during the forecast period. The presence of well-established chemical industry and growing pharmaceutical sector is supporting the expansion of the industry in this region.
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The global Global Phosgene market research report is an investigative study that includes accurate market insights, crucial market facts, and key statistical information to offer clear picture of the Global Phosgene market to readers, clients, industry professionals, stakeholders, and businesses.
The market research report offers a thorough assessment of the key companies operating in the market and provides a comprehensive overview of their company overview, product portfolio, manufacturing and production capacity, RD activities, gross profit, global market position, financial standing, sales network and distribution channels, and product developments. It also provides exhaustive analysis of the recent strategic alliances such mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, and agreements, among others.
Types:
Isocyanates
Chloroformates
Carbamoyl Chlorides
Others
Application:
Methylene Diphenyl Diisocyanate (Mdi)/ Polymeric methylene diphenyl diisocyanate (PMPPI)
Toluene Diisocyanate
Polycarbonate resins
Others
Regional Segmentation:
North America
South America
Europe
Asia Pacific
Middle East Africa
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