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Demand for crop protection chemicals such as chloroform, is also substantially increasing, which is driving the growth of the Chloroform Market.

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Chloroform Market size is forecasted to reach US$7.3 billion by 2027, after growing at a CAGR of 2.5% during the forecast period 2022-2027. Chloroform or trichloromethane or is a colorless organic compound integrated with strong odor and dense liquid. Chloroform consists of four chloromethanes, methyl alcohol and one trihalomethane. Chloroform is soluble in benzene, metabolite and acetone. One of the most important reactions of chloroform is to give monochlorodifluoromethane, which is used in Teflon. It is used in electronics, construction, healthcare and chemical industries which drives the market growth. The rapid increase in the healthcare and agriculture sector in developing economies results in an increase in demand for chloroform as it is easily inhaled. It acts quickly and is more efficient; hence driving the market growth. Though the use of chloroform in many industries like agriculture, transportation, building and construction and chemical was minimized due to less production and minimized labor during COVID-19, the healthcare sector increased the use of chloroform in patients during surgeries and operations. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/17691/chloroform-market.html

Key takeaways:

This IndustryARC report on the Chloroform Market highlights the following areas -

1. Asia-Pacific dominates the chloroform market, owing to the increasing transportation and construction industry in the region where chloroform acts as a solvent to dissolve other substances. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population, are the major factors expanding the transportation and construction industry in APAC.

2. Chloroform acts as a solvent for many oils, fats, rubber and alkaline which increases its use in different end-use industries like automotive, industrial, construction, medical and transportation; hence being responsible for positive market growth.

3. Chloroform is often used in air conditioners due to its low toxicity, reactivity and flammability, which is aiding the market growth in the transportation and buildings and construction industry.

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Segmental Analysis:

1. Chloroform is used as a solvent which means it is a substance that helps other substances dissolve. The hydrogen attached to carbon in chloroform (CHCl3) is used in hydrogen bonding. It is used as a solvent in the rubber industry, fire extinguishers, refrigerators and air conditioners. Chloroform is used in pesticide formulations as a solvent for oils, alkaloids, rubber, waxes, gutta-percha and resins as a cleansing agent worldwide.

2. Asia-Pacific region held the largest share in the chloroform market in 2021 up to 42%, owing to the increasing healthcare and transportation industry in APAC countries. For instance, according to the Global Wellness Institute, the Wellness institutions like hospitals, personal clinics and meditation centers reached a value of US$225 billion markets in 2019 and it saw an excellent growth during the pandemic, reaching US$275 billion in 2020.

3. According to American Hospital Association (AHA), the total medical-surgical intensive care beds in community hospitals in the US are around 59,281 in 2019. According to the India Brand Equity Foundation, the Healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases and increasing access to insurance.

4. Chloroform damages the liver, causing hepatitis. It can also harm kidneys, brain, heart and bone marrow. Exposure to chloroform can cause serious respiratory injuries including pneumonitis, respiratory depression and pulmonary edema. Using chloroform in high doses can even lead to toxicity to the central nervous system and can cause person unconsciousness and even fatal in some instances.

Competitive Landscape:

The top 5 players in the Chloroform Industry are -

1. Medical Isotopes, Inc.
2. MP Biomedicals Pvt. Ltd.
3. Oxford Lab Fine Chem LLP
4. Gadot Chemicals Tankers & Terminals Ltd.
5. Shiv Shakti Trading Corporation

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Related Reports:

A. Chloromethane Market
https://www.industryarc.com/Report/15113/chloromethane-market.html

B. Medical & Pharmaceutical Gases & Equipment (MPGE) Market
https://www.industryarc.com/Report/120/medical-pharmaceutical-gases-equipment-market.html

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