The Global Phosgene market is forecast to reach USD 6,389.0 Million by 2028, according to a new report by Reports and Data. 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.
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Top Companies: 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 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.
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Derivatives Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Isocyanates
- Chloroformates
- Carbamoyl Chlorides
- Others
End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Pharmaceuticals
- Agrochemicals
- Dyes
- Fine Chemicals
- Polycarbonates
- Specialty Chemicals
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Methylene Diphenyl Diisocyanate (Mdi)/ Polymeric methylene diphenyl diisocyanate (PMPPI)
- Toluene Diisocyanate
- Polycarbonate resins
- Others
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Phosgene Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Phosgene Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Phosgene Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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