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Europic Chloride Market Explores New Growth Opportunities from 2018 to 2024

Author : Ronak Bora | Published Date : 2019-05-02 

An analysis of europic chloride market has been provided in the latest report introduced by Global Market Insights, Inc. that primarily focuses on the market trends, demand spectrum, and prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

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.

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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.

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.

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 market. China recorded a chemical sales in excess of 1 trillion in 2016 followed by Japan, South Korea and India respectively.

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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.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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