Chloroform Market worth USD 9.17 billion by 2023

Chloroform is an organic compound that 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 Market Size and Growth Rate:

As per the latest reports published by Research Cosmos, Chloroform Market was projected to reach USD 9.17 billion by 2023 growing at a CAGR of 3.2% during the forecast period 2017 to 2023.

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Chloroform Market Growth Drivers and Restraints:

Chloroform 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.

Geographical Overview of Chloroform Market:

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. 

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Key Players of Chloroform Market:

Some of the leading market players of Chloroform Market are Arihant Chemicals, Solvay, Tokuyama Group, Akzonobel, Productos Aditivos, Ineos, BASF, Shin-Etsu Chemical and Dow Chemical Company

Chloroform Market Segmentation:

Chloroform Market Analysis – By Type:

• Industrial Grade
• Reagent Grade

Chloroform Market Analysis – By Application:

• Solvent & Reagent
• Anesthetic
• Criminal Use

Chloroform Market Analysis – By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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