Asia-Pacific to Dominate Phosgene Market During Forecast Period
Increasing demand for
phosgene free technology to produce polycarbonate resin coupled with the
growing demand for polycarbonate resin from automotive and electronics
industries are expected to suppress phosgene market
According to
TechSci Research report, “Global Phosgene
Market By Derivatives, By Region, Competition, Forecast &
Opportunities, 2024”, the global phosgene
market is estimated at around $ 6.3 billion in 2019. Stringent governmental regulations on the toxicity
level of phosgene, rising use of phosgene free technology and increasing threat
of non-toxic substitutes are expected to hamper the growth of global phosgene market
during forecast period. Additionally, growing environmental concerns such as contamination
of water, soil, and air, among others due to the use of phosgene in
agrochemicals are further restricting the growth of market. Moreover, safe
transportation of hazardous chemical is also obstructing the market growth.
Browse 115 market data Figures spread through 110 Pages and an in-depth TOC on "Global Phosgene
Market"
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The global
phosgene market is segmented based on derivatives and regions. Based on derivatives,
the market can be categorized into Methyl Diphenyl Diisocyanate, Toluene
Diisocyanate and Polycarbonate Resins. The Methyl Diphenyl Diisocyanate segment
is expected
to dominate the market during the forecast period on account of its use in the production
of rigid polyurethane foams and its applications ranging from building and
industrial insulation to refrigeration. Covestro AG, BASF SE, Wanhua Chemical
Group Co. Ltd, DowDuPont, Bayer AG, Atul Ltd., Paushak Ltd., UPL Ltd., Vertellus
Holdings LLC, VanDeMark Chemical Inc., ISOCHEM, Huntsman International, Shandong
Tianan Chemicals and others are some of the leading players operating in global phosgene market.
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“Asia-Pacific is expected
to continue its dominance in the global phosgene market during the forecast
period, owing to comparatively high consumption of phosgene-derivatives in
agrochemicals, dyes, and medicines, among others. Nevertheless, growing
focus towards application of phosgene free technology to produce MDI, TDI and
Polycarbonate resins is expected continue hindering the growth of phosgene
market in the coming years across the globe.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Phosgene Market By Derivatives, By
Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global phosgene
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global phosgene market.
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