Europic Chloride Market Scaling Heights Anticipating Skyrocketing Market Size in the Future

The global europic chloride market saw significant growth in 2021, driven by increased utilization as a food preservative and in the production of chlorine gas and metal. However, the COVID-19 pandemic caused a downturn due to reduced demand from the chemical industry. Despite challenges such as health risks associated with europic chloride, opportunities arise from the expansion of chemical and petrochemical industries. According to Allied Market Research, the market generated $136.6 million in 2021 and is projected to reach $254.7 million by 2031, with a compound annual growth rate (CAGR) of 6.5% from 2022 to 2031.

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The outbreak led to decreased demand from the chemical industry, resulting in sluggish market growth. Factors such as the demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper industry growth. However, the increased demand for clean water has bolstered the europic chloride market despite COVID-19's effects.

The chemical segment dominated the market in 2021 and is expected to maintain its leading position during the forecast period. Other segments analyzed include petrochemical, marine, and others.

Asia-Pacific led in terms of revenue in 2021 and is projected to continue its dominance, with the fastest CAGR of 7.1% during the forecast period. North America, Europe, and LAMEA are other regions analyzed in the report.

Key players in the global europic chloride market include AK Scientific, Inc., Alfa Aesar Thermo Fisher Scientific, American Elements, and others.

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