Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Accordi
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Phosphorus Pentachloride Market Overview, Dynamics and COVID-19 Impact Analysis

The chemical compound phosphorus pentachloride (PCl5) is employed as a chlorinating reagent. It's a colourless, water-sensitive, moisture-sensitive, pale yellow solid with a melting point of 148°C. Phosphorus oxychloride, phosphonic acid, and hydrochloric acid are formed when it is hydrolyzed with water. Phosphorus pentachloride is used as a starting material to make a variety of organic and inorganic phosphorus compounds that are used as phosphite antioxidants, pesticides, flame retardants, paint additives, lube oil, plasticizers and stabilisers for plastic and elastomers, and water treatment chemicals.

 

Market Dynamics

Phosphorus pentachloride is primarily employed as a chlorinating agent in the dye and pharmaceutical industries. According to the India International Trade Centre, Chinese companies account for more than 40% of global dye and dye intermediate output.

One of the key drivers of phosphorus pentachloride growth worldwide is the constantly increasing chemical sector. Phosphorus pentachloride is used as a dehydrating agent and to make stabilisers and plasticizers for elastomers and plastics, as well as to improve grain structure in metal casting.

However, one of the major restraints to the worldwide growth of the phosphorus pentachloride market is the unfavourable consequences generated by phosphorus pentachloride as it combines with water to make phosphoric and hydrochloride acid and produces heat for igniting flammable materials. Phosphorus pentachloride is a toxic gas that can inflict serious skin burns and is an explosive gas, according to the National Center for Biotechnology Information (NCBI).

Phosphorus Pentachloride Market
Phosphorus Pentachloride Market

 


COVID-19 Impact Analysis:

Organic and inorganic phosphorus compounds, such as insecticides, flame retardants, water treatment chemicals, paint additives, phosphite antioxidants, lubrication oil, and plasticizers and stabilisers for plastic and elastomers, are all made with phosphorus pentachloride. However, the COVID-19 pandemic has had a significant impact on these industries. As a result, during the pandemic, demand for phosphorus pentachloride has plummeted. As a result, the market for phosphorus pentachloride is projected to slow down.

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