Press release
Chloroform Market Size to Reach 9 Billion by 2023 with Market Key Players - Amadis Chemicals, Sigma-Aldrich, Chem Tik, MP Biomedicals, Tokyo Chemical Industry, abceCGmbH, AKos Consulting & Solutions, Molepedia, iChemical, IS Chemical Technology, Chembase.
The Global Chloroform Market was Expected to reach USD 9.17 billion by 2023 growing with a CAGR of 3.2% during the forecast period 2018 to 2023.
Browse 140 Pages of Research Report developed on Chloroform Market @ https://www.researchcosmos.com/reports/chloroform-market-by-type-industrial-grade-and-reagent-grade-by-application-solvent-reagen/2564108
Chloroform Market Overview:
Chloroform is an organic compound with a molecular formula of CHCl3 and it belongs to the group of compounds known as trihalomethanes.It is available in the form of a clear colourless liquid with a typical odour.Chloroform is a versatile compound used in multiple industries. It proves to be an excellent solvent for alkaloids in their base form and in laboratories, it is commonly used as a solvent in NMR spectroscopy therefore used extensively in the pharmaceutical industry. It is also majorly used in the production of Freon refrigerant R-22 and is used for the preservation of organic tissues, which includes anatomical specimens, to prevent decay.
Chloroform Market Growth Drivers and Restraints:
Chloroform is used as an industrial solvent in photography, waxes, fats, oils, resins, greases, adhesives, and dry cleaning. It is also commercially used to extract morphine from scopolamine and poppies from Datura plants. Applications such as DNA extraction from cells, in extraction buffers, extraction of mineral oil from polymerase chain reaction samples, DNA recovery from polyacrylamide gels, handling phenol, storage of lambda cDNA, lambda plaques, and plasmid DNA extraction has increased its usage in molecular biology. Above applications have rendered the market a strong boost that is expected to keep the market growing in the coming years.
For many years, chloroform was also used as an anaesthetic but due to its volatile and possible carcinogenic effect, the chemical was banned. Its application in the food and beverages section has been reduced owing to this reason. Chloroform is relatively unreactive, conveniently volatile, and miscible with most organic liquids, therefore being used as a common solvent for laboratory purposes.
It is usually non-flammable in nature; however, it burns under extreme conditions. It is used as a solvent in the pharmaceutical industry and for producing dyes and pesticides extensively. All of these reasons are boosting the market growth tremendously.
For Free Sample of the Report @ https://www.researchcosmos.com/request/chloroform-market-by-type-industrial-grade-and-reagent-grade-by-application-solvent-reagen/2564108
Chloroform Market Geographical Segmentation:
Asia Pacific and North America are expected to be the most potential markets for chloroform manufacturers and currently hold a major market share. Extensive use of chloroform by the chemicals and pharmaceutical industries, is fuelling growth of the chloroform market, especially in the Asia Pacific and the Middle East regions.
Key Players of the Chloroform Market:
Some of the major players in the market are Amadis Chemicals, Sigma-Aldrich, Chem Tik, MP Biomedicals, Tokyo Chemical Industry, abceCGmbH, AKos Consulting & Solutions, Molepedia, iChemical, IS Chemical Technology, Chembase.cn, Mcule, Acadechem, Wutech, and Life Chemicals.
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HS Code - 29094900
Chemical Formula - C6H14O3
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