Portland, OR, July 12, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global europic chloride market generated $136.6 million in 2021, and is projected to reach $254.7 million by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in the utilization of europic chloride as a food preservative and the usage for the production of chlorine gas and metal drive the growth of the global europic chloride market. However, europic chemical can cause respiratory and cardiac collapse, which hinders the growth of the market. On the other hand, expansion of the chemical and petrochemical industries is expected to generate potential opportunities for the market during the forecast period.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic resulted in decrease in demand from the chemical industry, which, in turn, has led to sluggish growth of the market.
- The demand–supply gap, disruptions in raw material procurement, price volatility, and many other such factors are expected to hamper the growth of the chemical industry.
- However, increase in demand for distilled and drinkable water due to the awareness regarding the cleanliness and hygiene boosts growth of the europic chloride market, which, in turn, tends to overcome effects of COVID-19 on this sector.
The report offers detailed segmentation of the global europic chloride market based end use industry and region.
Based on end use industry, the chemical segment held the largest market share in 2021, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. The report also offers a detailed analysis of segments including chemical, petrochemical, marine, and others.
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Based on region, Asia-Pacific is contributed to the highest share in terms of revenue in 2021, holding nearly half of the total market share, and is estimated to continue its dominant share by 2031. Moreover, the same region is projected to manifest the fastest CAGR of 7.1% during the forecast period. Other regions analyzed in the report are North America, Europe, and LAMEA.
Leading players of the global europic chloride market analyzed in the research include AK Scientific, Inc., Alfa Aesar Thermo Fisher Scientific, American Elements, Glentham Life Sciences Limited, MaTecK GmbH, Otto Chemie Pvt., Ltd., Santa Cruz Biotechnology, Inc., Stanford Advanced Materials, Strem Chemicals Inc., and TCI Chemicals (India) Pvt., Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
