Global Carbon Tetrachloride Market Size, Share, and COVID-19 Impact Analysis, By Product Grade (Industrial Grade, Laboratory Grade, and Others), By Application (Chemical Intermediate, Industrial Synthesis, Solvent Production, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

Global Carbon Tetrachloride Market Insights Forecasts to 2033

• The Global Carbon Tetrachloride Market Size was estimated at USD 529.37 Million in 2023
• The Market Size is Expected to Grow at a CAGR of around 4.27% from 2023 to 2033
• The Worldwide Carbon Tetrachloride Market Size is Expected to Reach USD 804.52 Million By 2033
• North America is expected to grow the fastest during the forecast period.

The Global Carbon Tetrachloride Market Size is Expected to cross USD 804.52 Million By 2033, Growing at a CAGR of 4.27% from 2023 to 2033.

Market Overview

The global carbon tetrachloride market describes the market engaged in producing, distributing, and consuming carbon tetrachloride, a chemical product utilized mainly as an intermediate for industrial applications. Carbon tetrachloride is a colorless, non-burning liquid with a characteristic sweet smell, used traditionally in processes like solvents, refrigerants, and fire extinguishers. Carbon tetrachloride is essential in the synthesis of many organic chemicals, which are some of the building blocks in the pharmaceutical sector. Carbon tetrachloride is an intermediate compound in the manufacture of drugs, antiseptics, and disinfectants. The compound is also employed in the manufacture of pharmaceutical reagents and solvents, which are necessary in the production and testing of many drugs. As drug discovery procedures advance and the worlds demand for pharmaceutical products increases, demand for carbon tetrachloride has also increased.

Report Coverage

This research report categorizes the carbon tetrachloride market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the carbon tetrachloride market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the carbon tetrachloride market.

Driving Factors

Rising adoption of green refrigerants is the primary factor fueling the market growth. Refrigerants have been utilized over long periods of time in a range of equipment and systems used for cooling purposes. In an attempt to halt the constantly rising global temperatures, there are newly manufactured eco-friendly refrigerants. Apart from reducing the impacts of global warming, eco-friendly refrigerants also serve as alternatives to currently used refrigerants that are sophisticated in their characteristics and performance. These refrigerants use less electricity; hence they are affordable at a low cost compared to traditional refrigerants. Additionally, developing economies in the Asia-Pacific and Latin America regions are witnessing high growth in agriculture, which is fueling the demand for crop protection chemicals. These nations are increasing their agricultural production to cater to domestic consumption as well as exports, further increasing the demand for carbon tetrachloride as a solvent in the manufacture of pesticides.

Restraining Factors

Carbon tetrachloride has serious health hazards and harmful effects on the environment. The organic compound is the cause of ozone level depletion due to extreme toxicity. In addition, the increasing concerns from different environmental authorities restrict its expansion. The Montreal Protocol, via United Nations members, concurs in limiting the non-feedstock use of carbon tetrachloride.

Market Segmentation

The carbon tetrachloride market share is classified intoproduct grade and application.   

• The industrial grade segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product grade, the carbon tetrachloride market is divided into industrial grade, laboratory grade, and others. Among these, the industrial grade segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This dominance is attributed to the result of widespread application of industrial-grade carbon tetrachloride in chemical production and specific industrial processes, including catalyst regeneration in petrochemical refining and chlorofluorocarbons (CFCs) and hydrofluorocarbons (HFCs) production.

• The chemical intermediate segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe.

Based on the application, the carbon tetrachloride market is divided into chemical intermediate, industrial synthesis, solvent production, and others. Among these, the chemical intermediate segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe. This is due to the fundamental importance of carbon tetrachloride as a raw material or intermediate to produce many industrial chemicals, such as chlorofluorocarbons (CFCs), hydrofluorocarbons (HFCs), and other halogenated substances.

Regional Segment Analysis of the Carbon Tetrachloride Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the carbon tetrachloride market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the carbon tetrachloride market over the predicted timeframe. Asia Pacific is rapidly industrializing and modernizing, which has increased demand for numerous chemicals in the regional market. Furthermore, countries such as China and India dominate in terms of consumption and production. Further, regional emerging economies like Indonesia, Taiwan, and Malaysia are anticipated to contribute to a significant share during the forecast period. Increasing end use industries in these countries can also drive the rising demand for carbon tetrachloride in the regional market.

North America is expected to grow at the fastest CAGR in the carbon tetrachloride market during the forecast period. The region has a well-established chemical production sector that is still the driving force for carbon tetrachloride demand as a chemical intermediate for controlled and specialized purposes. In addition, the loci of big market players and sophisticated research facilities in North America underpin the sustained use of carbon tetrachloride in laboratory-grade uses and specialized chemical production. Also, the sustainability and regulatory focus of the region has seen controlled and responsible consumption practices adopted, guaranteeing continued demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the carbon tetrachloride market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ARIHANT SOLVENTS AND CHEMICALS
• Loba Chemie Pvt. Ltd.
• Merck KGaA
• Occidental Petroleum Corp.
• Meghmani Finechem Limited
• Gujarat Alkalies and Chemicals Ltd.
• Chemtex Speciality Limited
• East India Chemicals International
• Kem One Group
• LGC Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the carbon tetrachloride market based on the below-mentioned segments: 

Global Carbon Tetrachloride Market, By Product Grade

• Industrial Grade
• Laboratory Grade
• Others

Global Carbon Tetrachloride Market, By Application

• Chemical Intermediate
• Industrial Synthesis
• Solvent Production
• Others

Global Carbon Tetrachloride Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa