Phosgene, commonly referred to as carbonyl chloride, is a colorless, chemically receptive, extremely poisonous gas with a musty hay-like odour. It is used to make polycarbonate resins, organic compounds, and dyes. In addition, it is utilized in the manufacturing of polycarbonate polymers that are used in the manufacturing of items such as CDs, DVDs, and lenses for vision devices. Furthermore, it is employed in the manufacturing of insecticides, herbicides, coatings, and polyurethane foams.
The phosgene market is expected to experience significant expansion over the forecast period due to its numerous applications and growing adoption in the chemical industry. For instance, phosgene is used in the manufacturing of polymeric methylene diphenyl diisocyanate (PMDI), which is largely employed in the production of polyurethane foams for refrigeration and insulation purposes. In addition, PMDI is used in the manufacturing of non-foam products such as adhesives, coating, sealants, and paints. Rising demand for wrapping, electronic goods, and chemicals such as PMDI is also expected to have a significant impact on the market in future. However, it is anticipated that unfavorable elements, including problems with the safe transportation of chemicals, raw material availability, environmental concerns, and strict government rules on the production of phosgene, are expected to prove a hindrance to the economic progress of the market.
Phosgene is extensively used in the manufacturing of agrochemicals, the increasing demand for food products owing to the growing population and decreasing arable land is driving the agrochemicals market, which in turn is anticipated to drive the market over the forecast period.
The recent conflict between Ukraine and Russia had negatively impacted the world economy. The supply of essential pesticides and chemicals was delayed, which had a serious impact on the agriculture sector. Due to stockpiling of existing pesticides and chemicals, the demand for phosgene decreased as it is used in the manufacturing of pesticides.
On the basis of derivatives, the phosgene market is classified into isocyanates, chloroformates, carbamoyl chlorides, and others. Chloroformates are utilized in a wide range of applications such as medicines, perfumes, herbicides, pesticides, food, and polymers. Due to the growth of the application industry, the demand for chloroformates is expected to increase over the forecast period.
Major players operating in the market are undertaking different strategies such as product launches, mergers, joint ventures, acquisitions, and geographical expansion. For instance, in September 2022, VanDeMark Chemical Inc., revealed collaboration with Comvest Partners, where funds were advised by SK Capital Partners. This collaboration will help the company to strengthen and broaden its footprint in fine chemistry for the global life science sector.
Middle East & Africa
VanDeMark Chemical Inc.
Hodogaya Chemical Co.
Gujarat Narmada Valley Fertilizers & Chemicals Limited
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