Phosgene Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to phosgene market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Phosgene Market News

  • In December 2024, based on the plan to increase production more sustainably and energy-efficiently, BASF SE has succeeded in phosgen-based polycarbonate production. The company continued to improve it through more eco-friendly and energy-efficient production systems. Recently, the company finished a new plant in Germany. This plant had lower CO2 emissions and cheaper operating costs in line with BASF's focus on sustainable production processes for global phosgene markets.
  • In July 2023, Covestro AG unveiled a line of high-performance phosgene-derived polycarbonates directed to the automobile and electronics industry. The goal was to obtain high impact strength combined with higher transparency to offer an even greater portfolio of lighter weight, highly resistant materials and improve Covestro's position within the global market of phosgene.
  • In March 2024, Huntsman Corporation introduced a new technology using phosgene, that promises to be the most revolutionary to date, one that could lead to environmentally friendly agrochemicals. The innovation eliminates toxic by-products and maximizes the productivity of pesticide manufacturing. With sustainable agrochemical solutions, growth in the global phosgene market is also expected to surge in agricultural applications.

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Global Phosgene Market size was valued at USD 1.68 Billion in 2023 poised to grow from USD 1.76 Billion in 2024 to USD 2.52 Billion by 2032, growing at a CAGR of 4.6% in the forecast period (2025-2032).

Competition on the global market for phosgene is of high intensity due to product innovations, strategic partnering, and large production capacity enhancements. Some key players in the global market of phosgene are Bayer AG, Covestro AG, and BASF SE, which heavily invest in its production as manufacturing phosgene derivatives such as polycarbonates and agrochemicals. Strong technologies, an efficient R&D, and wider geographical presence maintain their competitive strength. The market also sees increasing competition from emerging regional players and growing emphasis on sustainable practices. 'Bayer AG (Germany)', 'Covestro AG (Germany)', 'BASF SE (Germany)', 'U.S. Polychemical Corporation (USA)', 'AkzoNobel N.V. (Netherlands)', 'Huntsman Corporation (USA)', 'LANXESS AG (Germany)', 'Mitsubishi Chemical Corporation (Japan)', 'Wanhua Chemical Group Co., Ltd. (China)', 'LG Chem Ltd. (South Korea)', 'China National Petroleum Corporation (CNPC) (China)', 'Dow Inc. (USA)', 'SABIC (Saudi Arabia)', 'Formosa Plastics Corporation (Taiwan)', 'Shandong Xinhua Pharmaceutical Company Limited (China)'

In particular, the need for durable and high-performance materials continues to increase globally in the industries of automotive, electronics, and construction. An important factor stimulating the demand of the global phosgene market is its use in polycarbonates, which feature essential properties including impact resistance and transparency.

Rising Demand for Sustainable Materials: There is a growing trend toward eco-friendly and sustainable production methods in the global phosgene market. As companies look for more environmentally friendly alternatives, innovations in phosgene derivatives, such as recyclable polycarbonates, are picking up steam to meet consumer and regulatory calls for more environmentally friendly manufacturing practices.

Asia-Pacific dominates the global phosgene market due to its robust industrial base, high demand for polycarbonates, agrochemicals, and other phosgene derivatives. The region hosts leading manufacturing centers, especially in China and India, which are gaining growth in automotive, electronics, and construction sectors. Besides, Asia Pacific is an agriculture-growing region that creates an agrochemical market demand. Other factors such as the good government policies, labor costs being relatively low, and massive investment in industrial infrastructure contribute to this dominance. With emphasis on innovation, along with an increasing consumer market, Asia-Pacific is at a forefront position within the global phosgene market outlook.

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Global Phosgene Market
Phosgene Market

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