Chloroform

Chloroform

Global Chloroform Market to Reach US$9.7 Billion by 2030

The global market for Chloroform estimated at US$7.7 Billion in the year 2023, is expected to reach US$9.7 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030. Technical Grade Chloroform, one of the segments analyzed in the report, is expected to record a 3.9% CAGR and reach US$3.5 Billion by the end of the analysis period. Growth in the Alcohol Stabilized Grade Chloroform segment is estimated at 2.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.1 Billion While China is Forecast to Grow at 4.1% CAGR

The Chloroform market in the U.S. is estimated at US$2.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 4.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.9% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.

Global Chloroform Market - Key Trends & Drivers Summarized

Chloroform, or trichloromethane, is a colorless, volatile liquid with a distinct, sweet odor, primarily known for its historical use as an anesthetic. Chemically represented as CHCl3, chloroform is produced by the chlorination of methane. It has a wide range of applications in modern industry and laboratory settings. Chloroform is widely used as a solvent due to its ability to dissolve a variety of compounds, making it valuable in the production of pharmaceuticals, dyes, and pesticides. In laboratories, chloroform is often employed in the extraction of DNA and RNA due to its efficacy in separating nucleic acids from proteins and other cellular components. Despite its usefulness, chloroform is regulated due to its potential health hazards, including its classification as a potential carcinogen and its ability to cause liver and kidney damage with prolonged exposure.

The industrial production of chloroform involves the chlorination of methane or methyl chloride, typically in the presence of a catalyst at elevated temperatures. This process results in a mixture of chloroform and other chlorinated methanes, which are then separated through distillation. The global production of chloroform is substantial, with major producers located in regions with well-developed chemical industries, such as North America, Europe, and Asia. The handling and storage of chloroform require stringent safety protocols to prevent exposure and environmental contamination. Innovations in chemical production processes and stringent regulatory standards have led to improvements in the safety and efficiency of chloroform manufacturing and utilization.

The growth in the chloroform market is driven by several factors, including advancements in chemical synthesis technologies, increasing demand in pharmaceutical and agrochemical industries, and regulatory developments. Technological innovations in chemical synthesis and process optimization have enhanced the production efficiency and purity of chloroform, meeting the stringent requirements of high-purity applications. The expanding pharmaceutical industry, particularly in developing countries, has fueled the demand for chloroform as a solvent in drug formulation and synthesis. Additionally, the agrochemical sector`s growth, driven by the need for effective pesticides and herbicides, has contributed to increased chloroform consumption. Regulatory developments, including the enforcement of safety and environmental standards, have influenced market dynamics by encouraging the adoption of safer production practices and the development of alternative solvents. Consumer preferences for high-quality, reliable products in pharmaceuticals and other applications further stimulate the demand for chloroform, ensuring its continued relevance in various industrial processes.

 

Select Competitors (Total 59 Featured) -

• Abcr GmbH
• Amadis Chemical Company Limited
• Arihant Chemicals
• BASF SE
• Dongying City Longxing Chemical Co., Ltd.
• Fortischem a.s.
• Ineos Group Ltd.
• Kem One
• MilliporeSigma
• Occidental Petroleum Corporation
• PJSC Khimprom
• PRODUCTOS ADITIVOS, S.A.
• Shin-Etsu Chemical Co., Ltd.
• SRF Limited
• Tokyo Chemical Industry Co., Ltd.

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