Carbon Tetrachloride Market - Forecast (2022 - 2027)

The Carbon Tetrachloride Market growing at a CAGR of 4.9% during 2022-2027. With the rise in consumption of cleaning fluid (in industry and dry-cleaning establishments as a degreasing agent, and in households as a spot remover for clothing, furniture, and carpeting). Growing public health hazards problems will further degrade the overall market demand for Carbon Tetrachloride during the forecast period.

Report Coverage

The report: “Carbon Tetrachloride Market - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Carbon Tetrachloride Market.

• By Application - Cleaning Fluid, Degreasing agent, Pharmaceuticals, Agrochemicals, Solvents, Blowing Agents, Spot Remover (in cloths, furniture, and carpeting), and Others.
• By Geography - North America, South America, Europe, APAC, RoW.

Key Takeaways

• Asia-Pacific dominates the Carbon Tetrachloride market owing to increasing demand from applications for cleaning fluids.
• Carbon tetrachloride was also used in fire extinguishers and as a fumigant to kill insects in grain, which is likely to aid in the market growth of Carbon Tetrachloride.
• Growing health hazards problems will decrease the market demand for Carbon Tetrachloride in the near future.
• COVID 19 pandemic will create hurdles for the Carbon Tetrachloride market.

Carbon Tetrachloride Market Segment Analysis - By Application

The Agrochemicals sector has been the primary market for Carbon Tetrachloride for many years. Carbon tetrachloride (CTC) has been used widely as a grain fumigant in postharvest storage either alone or mixed with other fumigants which are generally more toxic to insects. In mixtures, in addition to its moderately insecticidal properties, carbon tetrachloride in useful as an aid to distribution and fire suppressant for other fumigants. Compounds with which it has been used include 1,2-dichloroethane (EDC), 1,2-dibromoethane (EDB), trichloroethylene, acrylonitrile and carbon disulphide. The liquid fumigant in generally sprayed on to the surface of the grain and the vapor is distributed by gravity. As well as its use in bulk grain fumigation in silo and floor storage, carbon tetrachloride has been used on a small scale in developing countries for disinfestation of single bags of grain by application of a small quantity, typically 20 ml, from a gelatin capsule. There is also a continuing use in small-scale farm bin storage practice where the handling of more acutely toxic compounds is undesirable.

Carbon Tetrachloride Market Segment Analysis - Geography

APAC dominated the Carbon Tetrachloride market with a share of more than xx%, followed by North America and Europe. China and India are the major markets in this region owing to the larger area for agriculture. The trend of migration away from rural areas, particularly with respect to younger people, has led to a "greying" and in some cases feminization of the agricultural sectors. But due to the pandemic and lockdown situation all the migrants worker from rural areas have returned backed to their homelands and showing interest to work more towards the agricultural sector. This will increase the demand for carbon tetrachloride in the agricultural sector and hence the carbon tetrachloride market will grow.

Carbon Tetrachloride Market Drivers

Increasing usage for fertilizers & Pesticides

Various nutrients boost plant production and keep people all over the world fed and healthy, and enhanced the efficiency fertilizers. The third category of essential crop nutrients: micronutrients. Micronutrients play a supporting role in overall plant health and development. Micronutrients promote essential plant processes and growth, which translates into nutrient-rich food for animals and humans. Micronutrients include boron, chlorine, copper, iron, manganese, molybdenum and zinc, which are often in short supply for growing crops. Owing to this the increasing usage of fertilizers & pesticides, the carbon tetrachloride market is expected to grow.

Implementation of Governments Regulations

Governments globally are focusing on boosting their agriculture sector. Whereas Governments regulations such as Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) by Indian Government will help to grow the agriculture sector. Under the Scheme an income support of Rs.6000/- per year is provided to all farmer families across the country in three equal installments of Rs.2000/- every four months, which will financially help the farmers let them focus more towards farming. And with the growth of the agricultural sector the carbon tetrachloride market will grow.

Carbon Tetrachloride Market Challenges

Rising Health problems

One way to learn whether a chemical will harm people is to determine how the body absorbs, uses, and releases the chemical. For some chemicals, animal testing may be necessary. Animal testing may also help identify health effects such as cancer or birth defects. Without laboratory animals, scientists would lose a basic method for getting the information needed to make wise decisions that protect public health. Scientists have the responsibility to treat research animals with care and compassion. Scientists must comply with strict animal care guidelines because laws today protect the welfare of research animals. Inhalation of its vapor can depress central nervous system activity and cause degeneration of the liver and kidneys.

Impact of COVID 19

The global carbon tetrachloride market continues to be challenged by the lockdowns, logistical disturbances, reduced productions, and associated economic impacts of COVID-19. The global fertilizer & pesticides sector has been affected since the outset, primarily in China, the world's largest producer as well as consumer of agriculture micronutrients. The outbreak of a novel coronavirus in China has to date had the most critical impact across the Chinese agriculture micronutrients sector, affecting the movement of both micronutrients products and raw materials in and out of the country. Moreover, this pandemic also expected to hit the carbon tetrachloride industry in the U.S., Brazil, India, and EU-5 countries.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Carbon Tetrachloride market. In 2019, the market of Carbon Tetrachloride has been consolidated by the top five players accounting for xx% of the share. Major players in the Carbon Tetrachloride Market are The Dow Chemical Company, Gujarat Alkalies and Chemicals, Akzo Nobel N.V., Occidental Petroleum Corporation, INEOS Group Holdings S.A., among others.

Acquisitions/Technology Launches

• In September 2017, DowDuPont™ has successfully completed the merger of equals between The Dow Chemical Company (“Dow”) and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three divisions - Agriculture, Materials Science and Specialty Products.

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