Chloroform Market Size, Share, Forecast, and Growth Through 2028 |Posted by Roger on May 3rd, 2023
Chloroform is a colorless, dense, sweet-smelling liquid that has been used for a variety of purposes, including as an anesthetic, a solvent, and a refrigerant. It is also used in the production of pharmaceuticals, agricultural chemicals, and other chemicals. The global chloroform market is driven by the increasing demand for solvents, refrigerants, and anesthetics. The market is expected to grow at a CAGR of around 4% from 2021 to 2026. The major players in the chloroform market include AkzoNobel N.V., The Dow Chemical Company, Solvay S.A., INEOS Group Limited, and Gujarat Alkalies and Chemicals Ltd. The pharmaceuticals segment is expected to be the largest end-use segment for chloroform. Chloroform is used as a solvent and as an intermediate in the production of several pharmaceuticals, including antibiotics, sedatives, and anesthetics. The increasing demand for healthcare services, coupled with the growing population, is expected to drive the demand for pharmaceuticals, thereby boosting the chloroform market. The Asia Pacific region is expected to be the largest market for chloroform due to the increasing demand for chloroform in various end-use industries such as pharmaceuticals, agricultural chemicals, and refrigerants. China, India, and Japan are the major markets for chloroform in the region. The increasing population and rising disposable incomes in these countries are expected to drive the demand for chloroform. However, the chloroform market is facing challenges due to the increasing concerns over the harmful effects of chloroform on human health and the environment. Chloroform is a known carcinogen and can cause liver and kidney damage if ingested or inhaled in large quantities. The regulatory bodies in various countries have imposed restrictions on the production and use of chloroform, which is expected to hamper the growth of the chloroform market. Read More Information - https://www.coherentmarketinsights.com/market-insight/chloroform-market-540 In conclusion, the chloroform market is expected to witness growth in the coming years due to the increasing demand for solvents, refrigerants, and anesthetics, especially in the pharmaceuticals sector. However, the market is also facing challenges due to the growing concerns over the health and environmental effects of chloroform, which may limit the growth of the market in the long run. About Coherent Market Insights Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients. Contact Us Mr. Shah Like it? Share it! More by this author |
