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The global Chloroform market size is expected to reach USD 9.45 Billion in 2032 registering a CAGR of 2.6%.
VANCOUVER, BRITISH COLUMBIA, CANADA, June 10, 2024 /EINPresswire / -- The global Chloroform market size was USD 7.32 Billion in 2022 and is expected to register a revenue CAGR of 2.6% during the forecast period. Rising demand for chloroform from the Pharmaceutical industry, solvent properties of chloroform, crucial intermediate in the production of plastics, pharmaceuticals, dyes, and pesticides, and significantly increasing number of chloroform applications in pharmaceutical and agrochemical industries are factors expected to drive revenue growth of the global chloroform market.
Chloroform, chemically known as trichloromethane (CHCl3), is a volatile, colorless liquid with a sweet smell. It has various industrial and laboratory uses, notably as a solvent and in the production of fluorocarbon refrigerants. Historically known for its anesthetic properties, chloroform's use in anesthesia has significantly declined due to safety concerns, but it remains important in chemical manufacturing and research. The global chloroform market is influenced by its applications in pharmaceuticals, agrochemicals, and the production of dyes and pesticides. Key players in this market include chemical giants like Dow Chemical, Akzo Nobel N.V., and Solvay S.A.
Emergen Research's latest market research report focuses on the global Chloroform market, and the report provides in-depth analysis of each of its major segments. Reports about the global Chloroform market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios.
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Market Drivers :
Several factors drive the demand in the chloroform market:
Chemical Manufacturing: One of the primary drivers of the chloroform market is its use as an intermediate in the synthesis of various chemicals. Chloroform is a critical precursor in producing hydrochlorofluorocarbon-22 (HCFC-22), which is used in manufacturing refrigerants and fluoropolymers like polytetrafluoroethylene (PTFE).
Pharmaceutical Industry: Chloroform is used as a solvent in pharmaceutical formulations and in the extraction of natural products. Its role in drug formulation and chemical synthesis in the pharmaceutical industry contributes significantly to market demand.
Laboratory Use: In research and laboratory settings, chloroform is widely used as a solvent in organic chemistry. It is essential for the purification and extraction of compounds, particularly in processes like DNA extraction.
Some major companies in the global market report include :
Hanwha Solutions Chemical Division Corporation, Air Liquide, Occidental Petroleum Corporation, Mitsubishi Chemical Corporation, Sumitomo Chemical Co., Ltd, PPG Industries, Inc, Tosoh India Pvt. Ltd., LyondellBasell Industries Holdings B.V, Eastman Chemical Company or its subsidiaries, LG Chem, Arkema, Formosa Plastics Corporation, Shin-Etsu Chemical Co., Ltd, Meghmani Finechem, Mitsui Chemicals, Inc, Akzo Nobel N.V., Solvay, INEOS, BASF SE, Dow
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The Global Chloroform Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.
Chloroform Market Segment Insights :
For the purpose of this report, Emergen Research has segmented global chloroform market on the basis of grade, application, end use, and region:
· Grade Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Technical Grade
Alcohol Stabilized Grade
Fluorocarbon Grade
· Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Solvent
Intermediates
Anesthetic
Reagent
Others
· End Use Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Pharmaceutical Industry
Agrochemical Industry
Chemical Industry
Others
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Global Magnesium Oxide (MgO) Market has been classified into the subsequent geographical segments:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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