Key Insights of the Global Phosgene Market| Technavio

LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
phosgene market to grow at a CAGR of over 5% during the
period 2018-2022, according to their latest report.

This market research report segments the global phosgene market into the
following applications, including MDI/PMPPI and TDI and key regions,
including APAC, Europe, North America, and ROW.

In this report, Technavio highlights the increasing production
capacities of TDI and MDI as one of the key emerging trends driving the global
phosgene market. The excellent properties of polyurethane
products are fueling its high demand in various end-user industries such
as automotive, furniture, bedding, and construction. To manufacture
polyurethane products, TDI and MDI are the key raw materials used. These
end-user industries are susceptible to macroeconomic factors and market
volatility. As a result, manufacturers of TDI and MDI expand or
restructure their production facilities to stay competitive in the
market.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the
third for FREE: View
all Technavio’s current offers

In this report, Technavio analysts highlight the ever-rising population
driving the demand for bedding and furniture as a key factor
contributing to the growth of the global phosgene market:

The ever-rising population driving the demand
for bedding and furniture

The global population was estimated at 7.5 billion in 2015. This number
is expected to reach 9.7 billion by 2050. Countries such as China,
India, the US, Indonesia, Pakistan, Brazil, Nigeria, Russia, Bangladesh,
Mexico, the Philippines, Japan, Ethiopia, Egypt, Vietnam, Germany,
Turkey, Iran, Congo, and Thailand are the 20 key contributors, in terms
of population.

Factors such as reduced mortality rate, improved medical facilities,
increased lifespan, and reduced infant mortality are augmenting the rise
in global population. While there are many factors that increase birth
rates over a long period, there are several other factors that increase
death rates in a short period. Technological advancements have improved
medical facilities, which resulted in a reduction in the number of
deaths each year. Vaccines can cure various fatal diseases. Factors such
as fertility treatments and rising incomes have led to the emergence of
large families.

According to a senior analyst at Technavio for specialty
chemicals, “The increasing population is driving the demand
for basic household necessities such as bedding, cushions, pillow, and
upholstered furniture, which are made of flexible PU foams. The wide
application of phosgene for manufacturing PU foams is expected to drive
the global phosgene market during the forecast period.”

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Global phosgene market segmentation

Of the two major applications, the MDI/PMPPI segment held the largest
market share in 2017, accounting for nearly 57% of the market. The
market share for this application is expected to increase by 2022. The
fastest growing application is TDI, which will account for nearly 27% of
the total market share by 2022.

APAC was the leading region for the global
phosgene market in 2017, accounting for a market share of nearly
40%. By 2022, APAC is expected to continue dominating the market and
register the highest growth rate.

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com