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

Phosphorus Pentachloride Market Analysis, Market Dynamics and Market Outlook

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.

Skin contact, inhalation, ingestion, and ocular contact with phosphorus pentachloride are all dangerous. The amount of tissue damage is determined by the length of contact. Skin contact, for example, can cause blistering and irritation, whilst eye contact might result in blindness or corneal damage. Choking, unconsciousness, lung injury, or death can all occur as a result of severe overexposure. Phosphorus pentachloride exposure limits have been established by a number of government agencies.

 

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.

 

Phosphorus Pentachloride Market Outlook

The Asia Pacific phosphorus pentachloride market is quickly expanding due to rising demand, particularly from emerging markets such as China and India. According to the India Brand Equity Foundation (IBEF), India's chemical sector is the third largest in Asia Pacific and the sixth largest in the world in terms of output. Furthermore, India's chemical industry market was worth US$ 144 billion in 2015, and is predicted to grow to US$ 403 billion by 2025. This is expected to boost the market for phosphorus pentachloride in this region and around the world. Furthermore, India produces roughly 16 percent of the world's dyestuffs and dye intermediates, increasing the use of phosphorus pentachloride throughout Asia Pacific.

Phosphorus Pentachloride Market
Phosphorus Pentachloride Market


 

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