Market Overview:    

The Chloroform Market size is estimated to reach $7.86 Billion by 2030, growing at a CAGR of 2.5% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Chloroform Market –––By Grade (Technical, Alcohol Stabilized, and Fluorocarbon), By Function (Solvent, Intermediate, Reagent, and Others), By Application (Refrigerators, Anesthesia, Pesticide, Dyes, Plastic, Resins, Adhesives, Rubber and Others), By End-Use Industries Building and Construction (Residential, Commercial and Industrial), Agriculture, Transportation (Automotive, Aerospace, Marine and Locomotive), Medical and Healthcare (Surgery and Dental), Chemical, Industrial and Others), By Geography- Global Opportunity Analysis & Industry Forecast, 2023-2030”
Rising Use in Agrochemical Production and Growing Demand in Pharmaceutical Manufacturing are fueling the growth of the Chloroform industry during the forecast period.

Asia-Pacific Dominated the Market in 2023: `

Asia-Pacific held the largest share of 42% in the Chloroform Market due to its strong industrial base, high demand from end-use industries, and cost-effective production capabilities. Countries like China, India, Japan, and South Korea have established themselves as key producers and consumers of chloroform, driven by rapid expansion in the pharmaceutical, agrochemical, and chemical manufacturing sectors. The pharmaceutical industry, a major consumer of chloroform in drug formulation and intermediate synthesis, is growing rapidly in India and China due to increasing healthcare needs and government support for domestic drug production. Additionally, the agrochemical sector in the region relies on chloroform for pesticide and herbicide production, fueled by the need to enhance agricultural productivity. China, being one of the largest chemical manufacturers globally, benefits from low-cost raw materials, large-scale production facilities, and extensive export networks, making it a dominant player in the chloroform market. Moreover, cost advantages in labor and infrastructure, along with the availability of raw materials, make Asia-Pacific an attractive hub for chloroform production. With increasing industrialization, growing foreign investments in chemical manufacturing, and expanding applications in pharmaceuticals, refrigerants, and research sectors, the region continues to dominate the global chloroform market, reinforcing its position as the leading contributor to overall market demand.

Chloroform Market: Key Takeaways

Rising Use in Agrochemical Production:

Chloroform is widely used in the agrochemical sector as a solvent and intermediate in the synthesis of pesticides, herbicides, and insecticides. The increasing global demand for food, driven by population growth and the need for higher agricultural yields, has resulted in the widespread use of agrochemicals. This, in turn, fuels the demand for chloroform in agrochemical production. One of the critical uses of chloroform in this sector is in the production of organochlorine pesticides, which help protect crops from pests and diseases. These pesticides play a vital role in ensuring food security by enhancing crop productivity and reducing post-harvest losses. Additionally, chloroform is used as a solvent in the formulation of plant growth regulators and fungicides. The expanding agricultural sector in regions such as Asia-Pacific, Latin America, and Africa is expected to drive the demand for agrochemicals, further boosting chloroform consumption. According to Indian Ministry of Agriculture & Farmers Welfare, India's total horticulture production is estimated to be 351.92 million tonnes in 2022-23. Additionally, government initiatives promoting higher agricultural productivity and modern farming techniques are contributing to the growth of the agrochemical industry. However, growing concerns over the environmental impact of agrochemicals, coupled with stringent regulations on pesticide formulations, may pose challenges to chloroform demand. Regulatory bodies such as the Environmental Protection Agency (EPA) and the European Chemicals Agency (ECHA) have been imposing restrictions on certain agrochemicals, which could impact the chloroform market.

For More Queries About "Chloroform Market " @ https://www.industryarc.com/Report/17691/chloroform-market-Research

Growing Demand in Pharmaceutical Manufacturing:

Chloroform is a key solvent in pharmaceutical manufacturing, where it is used in drug formulation, purification, and chemical synthesis. The pharmaceutical industry has been expanding rapidly due to increased healthcare expenditures, an aging population, and advancements in drug development. This has led to a higher demand for efficient and cost-effective solvents like chloroform. One of the primary applications of chloroform in pharmaceuticals is in the production of antibiotics, vitamins, and pain-relief medications. Chloroform’s ability to dissolve a wide range of organic compounds makes it an ideal solvent for active pharmaceutical ingredient (API) extraction and purification. It is also used in the preparation of anesthetics, although its direct use as an anesthetic has declined due to safety concerns. The global pharmaceutical industry is projected to grow significantly, driven by increased R&D activities, the introduction of novel drugs, and rising healthcare needs. Developing economies, particularly in Asia-Pacific, are witnessing rapid industrialization in pharmaceutical manufacturing, further driving chloroform demand. However, stringent regulatory policies regarding the handling and environmental impact of chloroform may pose challenges to market expansion.

Scope of the Report: 

Report Metric

Details

Base Year Considered

2022

Forecast Period

2023–2030

CAGR

2.5%

Market Size in 2030

$7.86 Billion

Segments Covered

By Grade, By Function, By Application, By End-Use Industries and By Region

 

 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

 

 

 

 

Key Market Players

1.      Medical isotopes, inc.

2.      MP Biomedicals Pvt. Ltd.

3.      Oxford Lab Fine Chem LLP

4.      Alpha Chemika

5.      BASF SE

6.      Arihant Chemical

7.      Solvay

8.      Tokuyama Corporation

9.      Shin-Etsu Chemical Co., Ltd.

10.  Occidental Petroleum Corporation

 

Recent Developments

•    In January 2022, BASF is investing a low three-digit million-euro amount to modernize chloroformates and acid chlorides production at its Ludwigshafen site, increasing capacity by around 30% by 2025. This upgrade reflects BASF's commitment to reliable production and its position as a leading global manufacturer in this chemical sector.

Chloroform Market: Competitive Landscape

Key companies profiled in the Chloroform Market are Dynalab Corporation, Terriss Consolidated Industries, Inc., Koehler Instrument Co., Inc., Thermo Fisher Scientific Inc., VEE GEE Scientific, Bel-Art Products, DWK Life Sciences, Thomas Scientific, Heathrow Scientific, VWR International, LLC and others.

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