Carbon Tetrachloride Market - Global Forecast and Opportunity Assessment by Technavio

Technavio has published a new report on the global carbon tetrachloride market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global carbon tetrachloride market is expected to grow at a CAGR of more than 3% through 2021.

This research report titled ‘Global Carbon Tetrachloride Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global carbon tetrachloride market is expected to see slow growth during the forecast period owing to the ban of carbon tetrachloride in various applications such as refrigerants and fire extinguishers in North America and Europe. Due to the high toxicity, it is no longer used in consumer products. The major application of carbon tetrachloride is in solvents for oils, fats, varnishes, waxes, lacquers, rubbers, and resins.

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Technavio’s analysts categorize the global carbon tetrachloride market into four major segments by the application. They are:

  • Solvents
  • Agrochemicals
  • Blowing agents
  • Others

The top three segments based on the application for the global carbon tetrachloride market are discussed below:

Global carbon tetrachloride market for solvents

The solvents segment is expected to grow in APAC mainly because of increasing industrialization. The demand for solvents is coming from the paints and coatings, printing inks, metal cleaning, adhesives, personal care, and rubber and polymer industries. These factors are pushing the global carbon tetrachloride market for solvents.

The solvents market has several restraints; the main one is strict government regulations in developed regions on their consumption. Due to hazardous effects of solvents on the environment, the need of technological evolution is growing.

Global carbon tetrachloride market for agrochemicals

The agrochemicals market is one of the most important segments of the global carbon tetrachloride market due to its fumigating property. To meet the rising diversified food demand, commercial cultivation of high-value crops is expanding. The agriculture segment faces multiple challenges like increasing population, decreasing arable land, insufficient energy source, and eradication of pests with the help of agrochemicals.

Agrochemicals play an important role in meeting the demand from farmers as well as consumers. Certain programs have been initiated for the efficient use of agrochemicals like integrated nutrient management and integrated pest management. Agrochemicals are inevitable in crop cultivation,” according to Ajay Adhikari, a lead specialty chemicals research analyst from Technavio.

Global carbon tetrachloride market for blowing agents

The market for carbon tetrachloride in the blowing agents segment is expected to grow smoothly during the forecast period owing to its consumption in plastics and rubber. Carbon tetrachloride is widely used as blowing agents. Blowing agents are chemical substances that are capable of producing pores or cells in polymeric compositions.

Blowing agents are widely used in creating gas expand plastics, rubber, and ceramics to create foam. Worldwide the market of plastics and rubbers are increasing. Therefore, the demand for blowing agents is also increasing. APAC is the largest as well as the fastest growing market for chemical blowing agents. The region consumes more than a half of the global demand,” says Ajay.

The top vendors highlighted by Technavio’s research analysts in this report are:

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

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global carbon tetrachloride market is expected to grow at a CAGR of more than 3%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com