Phosgene Market Analysis

Phosgene Derivative Market Analysis

Based on derivative, the phosgene market is segmented as isocyanates, chloroformates, carbamoyl chlorides, others. Isocyanates held a majority market value of USD 12.5 billion in 2022. Isocyanates are critical components in the production of polyurethane foams, coatings, adhesives, and elastomers used in industries like construction, automotive, and furniture.
 

Based on application, the phosgene market is segmented as agrochemicals, polycarbonates, pharmaceuticals, fine chemicals, dyes, specialty chemicals, others. Agrochemicals held a dominant market share of around 27% in 2022 and is expected to grow at a lucrative pace through 2032. Carbamates are used in the production of agrochemicals, including pesticides and herbicides, to protect crops from pests and diseases.
 

U.S. dominated the North American region with majority market share and a revenue of USD 8.6 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The robust construction sector in North America drives demand for polyurethane-based insulation, coatings, and foams used in residential and commercial buildings.