Report Code: A16989 | Jun 2022 | Pages: 151 | ||
Tables: 90 | Charts: 56 |
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The global europic chloride market was valued at $136.6 million in 2021, and is projected to reach $254.7 million by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
COVID-19 had negative impact on europic chloride market owing to decreased in demand from chemical and petrochemical industry.
Europic chloride (EuCl3), also known as anhydrous europium chloride (III), is an inorganic compound. By rapidly absorbing water, the anhydrous chemical may be immediately transformed into the white crystalline hexahydrate (EuCl36H2O), which is a yellow solid. There are several other names for europic chloride, including , europium chloride (VAN), europium chloride (EuCl3), europium trichloride, europium chloride (Eu2Cl6), and europium (III) chloride anhydrous Europium is present in high-grade minerals such calcium aluminum silicates. It is a soft metal with a silvery hue that resembles lead. In the food & beverage sector, europic chloride is utilized in the process of food preservation. In addition, it can be utilized in the process of desalination, which draws out chloride salts from seawater to produce drinkable water.
The principal application for europium is in phosphors, which are compounds that emit light. Red phosphors, which are more widely accessible, can be used to create televisions with brighter colors. Europium oxide-based phosphors provide red and blue light, which may be combined with yellow–green phosphor to produce white light. Europium phosphors are used in TVs, certain LEDs, and fluorescent lighting. Europium is further used in other optoelectronic devices and in lasers. As more people opt to buy their food already packed, there has been a simultaneous rise in the utilization of europic chloride as a food preservative. This factor is the primary reason behind the growth of the europic chloride market. Furthermore, in the chemical and petrochemical industries, europic chloride is utilized as a source of alternative energy to produce electricity and to catalyze the decomposition of chloride-based materials via the electrolysis process, which results in the production of chlorine gas and metal. Furthermore, expansion of the chemical and petrochemical industries is fueling the demand for europic chloride, which, in turn, is propelling the growth of the europic chloride market. However, europic chemical results in quick defecation, writhing, incoordination, hard breathing, and lethargy upon inhalation. It can further cause respiratory and cardiac collapse, leading to death. These factors are expected to hamper the expansion of europic chloride market.
The global europic chloride market is segmented into end-use industry and region. On the basis of end-use industry, the market is categorized into food & beverage, chemical, petrochemical, marine, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global europic chloride market 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., TCI Chemicals (India) Pvt., Ltd.
Other players operating in the europic chloride market are SRL (Sisco Research Laboratories Private Limited), Central Drug House, and Shanghai Xinglu Chemical Technology Co.
The chemical segment accounted for the largest share, i.e., 34.5%, and is estimated to grow at a CAGR of 5.9% during the forecast period. This is attributed to increased demand for europic chloride from the chemical sector ,as it is used in the production of electrolyte.
Asia-Pacific contributed the 46.4% market share in 2021, and is projected to grow at CAGR of 7.1% during the forecast period. This is attributed to surge in demand from chemical and petrochemical industries in Asia-Pacific.
COVID-19 Impact Analysis On The Global Europic Chloride Market
Europic Chloride Market Report Highlights
Aspects | Details |
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By End use industry |
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By Region |
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Key Market Players | TCI Chemicals, stanford advance materials, santa cruz biotechnology, strem chemicals, otto chemie, AK scientific incorporation, matech, alfa aesar a johnson matthey company, American Elements, Glentham Life Science |
According to the perspective of the CXOs of leading companies, the market for europic chloride is expected to exhibit high growth potential in the near future due to rapid expansion of the chemical and petrochemical sectors. North America and Europe are seen as mature markets for the chemical and petrochemical sectors, despite the fact that Asia-Pacific has become a valuable region for investors due to their strong revenue growth rates. The primary growth drivers of the europic chloride market are technological advancement in the field of earth metal nano-crystals, increase in demand for flat panel displays and LEDs, and the expanding civil infrastructure. The rapidly expanding consumer electronics business around the globe, as a result of improved internet access, technical breakthroughs, and rising consumer spending on luxury gadgets, is projected to have a substantial effect on the expansion of the market.
A. The global europic chloride market was valued at $ 136.6 million in 2021, and is projected to reach $ 254.7 million by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
A. The global europic chloride market was valued at $ 136.6 million in 2021, and is projected to reach $ 254.7 million by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
A. Asia-Pacific contributed the 46.4% market share in 2021, and is projected to grow at CAGR of 7.1% during the forecast period. This is attributed to surge in demand from chemical and petrochemical industries in Asia-Pacific.
A. 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., TCI Chemicals (India) Pvt., Ltd.
A. Increased demand from chemical industry is the main drivers for europic chloride market.
A. COVID-19 has mix impact on europic chloride market. Europic chloride saw decreased in demand from chemical industry and increased demand from food and beverage industry.
A. Chemical is is the leading application of europic Chloride Market.
A. Food and beverage industry is projected to increase the demand for europic chloride during the forecasted period.
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