Overview of the global carbon tetrachloride market

Market research analysts at Technavio predict that the global carbon tetrachloride market will grow steadily at a CAGR of more than 3% by 2021. This market research analysis identifies the increasing demand for agrochemicals as one of the primary growth factors for this market. Carbon tetrachloride is extensively used as an agriculture fumigant and can also be used as mixtures with other fumigants as it has exceptional fire inhibiting properties and penetrating properties. The increase in the need for agricultural sustainability and the increasing yield due to the growing use of fertilizers and pesticides is predicted to drive the global carbon tetrachloride market during the forecast period.

The rising chemical manufacturing activities in Brazil and Russia is one of the latest trends that will contribute to the growth of the market. Carbon tetrachloride is one of the important chemicals that is used in chemical processing. In 2015, the chemical industry witnessed a substantial growth in Brazil and Russia due to the stagnation of the chemical markets in Europe and Japan. Moreover, the concentration of vendors is growing in these countries due to the high potential of the market in terms of chemical consumption.

Competitive landscape and key vendors  

The carbon tetrachloride market is highly fragmented with logistics management playing a vital role in the manufacture of value-added products. Moreover, since carbon tetrachloride is highly reactive and volatile in nature, its packaging is a key consideration in the procurement process. End-users consider product quality and packaging type to be main factors while procuring carbon tetrachloride.

The leading vendors in the market are -

• AkzoNobel
• Gujarat Alkalies and Chemicals
• KEM ONE
• Occidental Petroleum
• Sigma-Aldrich

Segmentation by application and analysis of the carbon tetrachloride market

• Solvents
• Agrochemicals
• Blowing agents

During 2016, the solvents segment accounted for the major shares of the carbon tetrachloride market. Factors such as the rising industrialization and the growing demand from the paints and coatings, printing inks, and metal cleaning will contribute to the growth of this market segment in the coming years.

Geographical segmentation and analysis of the carbon tetrachloride market

• APAC
• Europe
• North America
• ROW

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market throughout the forecast period. Rapid economic growth and rising population will drive the demand for carbon tetrachloride in this region. Moreover, countries such as China, India, Japan, and South Korea are also witnessing a substantial increase in the use of carbon tetrachloride for various applications such as chemical processing, solvents, agrochemicals, and blowing agents.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global carbon tetrachloride market?
• What are the key market trends impacting the growth of the global carbon tetrachloride market?
• What are the challenges to market growth?
• Who are the key vendors in the global carbon tetrachloride market?
• What are the market opportunities and threats faced by the vendors in the global carbon tetrachloride market?
• Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global carbon tetrachloride market?

Technavio also offers customization on reports based on specific client requirement.

Carbon tetrachloride is a colorless liquid that has a sweet smell. It is nonflammable at ambient temperatures. This Technavio's market research reports for the chemical industry combines a wide range of product markets including specialty chemicals, olefins, and bio-chemicals and bio-materials.

By implementing a collaborated approach of proven research techniques, Technavio identifies the industry's growth prospects that will support clients in the specialty chemical sector to infer effective growth strategies. This upcoming report on the inspection carbon tetrachloride market also considers the growth of the similar markets such as the asphalt market and hydrocolloid market, which are expected to project a CAGR of above 4% and more than 5%, respectively during the period 2017 to 2021. According to our research analysts, the rise in the consumption of carbon tetrachloride as hepatoprotective agents and laboratory reagents is expected to propel the growth of this market across the globe.

The upcoming industry research report for the carbon tetrachloride market also identifies the major drivers, forthcoming trends, coupled with the impending challenges currently experienced by vendors in the specialty chemical sector.