Europic Chloride Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2528
Europic Chloride Market size will grow at a significant rate in the forecast period. The product is also known by several names such as europium trichloride and europium chloride. It has the property to rapidly absorb water and is one of the most reactive earth metal.
The food & beverages industry is growing at a substantial rate since the past several years. Improving lifestyles, increasing disposable income of people, purchasing power parity and changing consumer tastes and preferences, is driving the global food & beverages market on a large scale. Food imports and exports are rising on a very large number fueling the need for preservatives. The global food exports were valued at over USD 1.30 trillion in 2016. Owing to the huge industry and its needs is ultimately driving the europic chloride market worldwide.
Growth in the chemicals industry is also set to further enhance the global europic chloride market as the product is one of the rarest metal found in the earth’s core. The worldwide chemicals industry is growing at a phenomenal rate and is expected to remain the same in the next few years. The overall sales of the chemicals industry around the globe was valued over 3.5 trillion in 2016.
Inhalation of the product may lead to serious respiratory problems, immediate defecation, writhing, inactivity, labored breathing and incoordination. Also, it may result in death due to heart failure. These reasons may hinder the europic chloride market growth in near future.
On the basis of product, the europic chloride market can be segmented into white crystalline solids and dehydrated yellow powder. The compound is inorganic white crystalline powder which can be dehydrated to form an anhydrous yellow powder. Commercially the product is available in both the forms for use.
Based on the end-user industry, the global europic chloride market can be segmented into food & beverages, chemicals, petrochemicals, electronics and marine industries. Looking at the food & beverages industry, the product finds its application in desalination which helps remove chloride salts and make water drinkable. The product also finds its use as a preservative in the food & beverage industry. In chemicals and petrochemicals, the product is used as an alternative energy source to generate electricity and to decompose chloride materials by the method of electrolysis into chlorine gas and metal. In electronics, the product is widely used in televisions and computer display screens. It finds its application as a phosphor in emitting red light in pure form which is also used in low energy light bulbs to create warmer light compared to traditional fluorescent bulbs.
Considering regions, the global europic chloride market can be segmented into Asia Pacific, Europe, North America, Latin America and Middle East & Africa. Asia Pacific is the leading producer of the product. China is the leading producer of Asia Pacific in the regional europic chloride market. China recorded a chemical sales in excess of 1 trillion in 2016 followed by Japan, South Korea and India respectively. The region is also likely to experience remarkable growth in the due to rising demand from the end-user industries. Following the Asia Pacific region are North America and Europe. These regions together accounted for nearly two fifth of the world europic chloride market share in 2016. Being used as a de-icing agent, the europic chloride market demand in Europe is significant. Notable growth in the chemicals and petrochemical industries is driving the europic chloride market highly in North America.
Primary players operating in the global europic chloride market include Muby Chemicals, Strem Chemicals, Stanford Advanced Materials, ESPICorp, MaTecK GmbH, Santa Cruz Biotechnology, American Elements, TCI Chemicals India, Baotou Huaxing Rare Earth Technology, Sigma-Aldrich, Shangyu Catsyn, abcr GmbH, AK Scientific Incorporation and ProChem to name a few.
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