Global Chloroform Market, By Grade (Technical Grade, Alcohol Stabilized Grade, Fluorocarbon Grade), Application (Solvent, Intermediates, Reagent, Others), End-Users (Pharmaceutical, Agrochemical, chemical Industry, Others) – Industry Trends and Forecast to 2030.
Chloroform Market Analysis and Size
Chloroform refers to a solvent that is extensively utilized for organic compounds and is denoted as trichloromethane. The substance is colorless, volatile and has a strong and pleasant odor and it is insoluble in water. It is used as a Solvent and reagent in laboratory applications such as the dissolving of non-nucleic acid biomolecules in DNA and RNA extractions and is also highly used in other end-user industries including chemical, paper, and others.
Data Bridge Market Research analyses that the global chloroform market which was USD 2.60 billion in 2022, will reach USD 4.03 billion by 2030, and is expected to undergo a CAGR of 5.60% during the forecast period. “Pharmaceutical” is expected to dominate the end-users segment of the Chloroform market by their versatile properties such as anesthetic, solvent, and chemical synthesis properties. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Chloroform Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million,
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Segments Covered
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Grade (Technical Grade, Alcohol Stabilized Grade, Fluorocarbon Grade), Application (Solvent, Intermediates, Reagent, Others), End Users (Pharmaceutical, Agrochemical, Chemical Industry, Others)
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Countries Covered
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(U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa)
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Market Players Covered
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Dow (U.S.), PRODUCTOS ADITIVOS(Spain), BASF SE(Germany), Solvay (Belgium), Arihant Chemical (India), INEOS(U.K.), Tokuyama Corporation (Tokyo), Shin-Etsu Chemical Co., Ltd. (Tokyo), Akzo Nobel N.V.(Netherlands), Nouryon (China), Sumitomo Chemical Co., Ltd. (Tokyo), Occidental Petroleum Corporation (U.S.), RIDHDHI SIDHDHI CHEMICALS(India), JIGCHEM UNIVERSAL(India), among others.
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Market Opportunities
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Market Definition
Chloroform, also known by its chemical name trichloromethane (CHCl3), is an organic compound that is a colorless liquid with a sweet, pungent odor. Chloroform is a halogenated hydrocarbon, meaning it contains chlorine atoms in its chemical structure. It is non-flammable and has a relatively low boiling point of 61.15 degrees Celsius (142.07 degrees Fahrenheit).
Global Chloroform Market Dynamics
Drivers
- Historical use of chloroform
Chloroform has a long history of use in various industries, including pharmaceuticals, agrochemicals, and chemical synthesis, which has contributed to its demand. One of the most significant historical uses of chloroform was as a general anesthetic. In the mid-19th century, it was commonly administered to induce unconsciousness during surgical procedures. The Scottish obstetrician James Young Simpson was one of the pioneers in promoting the use of chloroform as an anesthetic.
- Solvent Properties of chloroform
Chloroform possesses good solvent properties, making it useful for dissolving and extracting certain substances. This property has driven its use in various applications. Chloroform, with its unique solvent properties, has historically found applications in various industries. However, it is important to note that the use of chloroform as a solvent has significantly declined due to its potential health and environmental hazards. Chloroform is a versatile solvent that can dissolve a wide range of organic compounds. It is particularly effective in dissolving fats, oils, resins, waxes, and many other non-polar or slightly polar substances.
- Increasing demand for chloroform in Industrial Applications
Chloroform finds applications in industries such as pharmaceuticals, dyes and pigments, plastics, and chemical synthesis, which have contributed to its demand. Chloroform was historically used in the production of pharmaceuticals, especially as a solvent for extracting and purifying active ingredients from plants or other sources. However, due to its potential toxicity and the availability of safer alternatives, its use in this area has diminished.
Opportunities
- Research and Development
There may be opportunities for research and development to address the health and environmental concerns associated with chloroform. Developing safer and more sustainable alternatives could open up new avenues in the market. Research and development efforts related to chloroform have significantly diminished in recent years due to its potential health and environmental hazards. The focus has shifted towards finding safer alternatives and reducing the use of chloroform. However, in the past, some research activities were conducted to explore various aspects of chloroform.
- Niche Applications
Chloroform may find niche applications in specialized industries or processes where its unique properties are still preferred over alternative substances. Chloroform may still find limited use in certain laboratory research applications where its unique solvent properties are required. It can be used as a solvent for specific experiments or in specialized analytical techniques.
Restraints/Challenges
- Health and Environmental Concerns
Chloroform is classified as a potential carcinogen and poses risks to human health. It can also have adverse effects on the environment. Consequently, regulations and restrictions have been imposed on its use, limiting its market potential. Chloroform is known to be toxic to humans. Prolonged or excessive exposure to chloroform can cause damage to the liver, kidneys, and central nervous system. It is classified as a potential carcinogen by various regulatory agencies.
- Availability of Alternatives
Safer alternatives to chloroform, such as other solvents and anaesthetics, have been developed and are widely available. The availability of these alternatives has reduced the demand for chloroform. Inhalation of chloroform vapor can cause dizziness, nausea, headaches, and irritation of the respiratory system. High levels of exposure can lead to unconsciousness or even death. Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.
this Chloroform market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Chloroform market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- On January 31, 2022, BASF SE declared that it would upgrade the facilities used to produce chloroformates and acid chlorides at its Ludwigshafen Verbund plant for a low three-digit million-euro sum. By the time the work is finished in 2025, the company's capacity for chloroformates, acid chlorides, and alkyl chlorides products at the location will have increased by almost 30%
Global Chloroform Market Scope
the Chloroform market is segmented on the basis of grade, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Grade
- Technical Grade
- Alcohol Stabilized Grade
- Fluorocarbon Grade
Application
- Solvent
- Intermediates
- Reagent
- Others
End-User
- Pharmaceutical
- Agrochemical
- Chemical Industry
- Others
Global Chloroform Market Regional Analysis/Insights
The global chloroform market is analysed and market size insights and trends are provided by country, grade, application, end-user as referenced above.
The countries covered in the chloroform market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
North America is expected to dominate the global chloroform market due to the rise in pharmaceutical and medicine production in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increased investment in healthcare infrastructure, rising population and growing demand for medications have fueled the demand for pharmaceutical products in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Chloroform Market Share Analysis
The global chloroform market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global chloroform market.
Some of the major players operating in the global chloroform market are:
- Dow (U.S.)
- PRODUCTOS ADITIVOS(Spain)
- BASF SE(Germany)
- Solvay (Belgium)
- Arihant Chemical (India)
- INEOS(U.K.)
- Tokuyama Corporation (Tokyo)
- Shin-Etsu Chemical Co., Ltd. (Tokyo)
- Akzo Nobel N.V.(Netherlands)
- Nouryon (China)
- Sumitomo Chemical Co., Ltd. (Tokyo)
- Occidental Petroleum Corporation (U.S.)
- RIDHDHI SIDHDHI CHEMICALS(India)
- JIGCHEM UNIVERSAL(India)
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