Carbon tetrachloride market to grow by USD 77.37 million from 2023 to 2028 | North America to account for 37% of market growth- Technavio

NEW YORK, Dec. 18, 2023 /PRNewswire/ -- The carbon tetrachloride market size is expected to grow by USD 77.37 million from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 4.95% during forecast period, according to Technavio. The increasing adoption of eco-friendly refrigerants is notably driving the carbon tetrachloride market. However, factors such as easy availability of substitutes may impede market growth. The market is segmented by type (pharmaceutical, analytical, and industrial), application (chemical, industrial, textile, pharmaceutical, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the carbon tetrachloride market including Arihant Solvents and Chemicals, Bhumi Chem, Chemtex Speciality Ltd., DuPont de Nemours Inc., East India Chemicals International, Epigral Ltd., Gujarat Alkalies and Chemicals Ltd., INEOS Group Holdings SA, KEM ONE, LGC Science Group Holdings Ltd., Loba Chemie Pvt. Ltd., Merck KGaA, Nouryon Chemicals Holding BV, Occidental Petroleum Corp., Olin Corp., Paragon Chemicals, Restek Corp., Sahil Enterprises, The Sanmar Group, and Vizag Chemical International.

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Carbon Tetrachloride Market 2024-2028: Company Analysis

• Arihant Solvents and Chemicals: The company offers carbon tetrachloride such as Carbon Titanium tetrachloride that acts as an acid in aqueous solution.

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Carbon Tetrachloride Market 2024-2028: Segmentation

• Type

The pharmaceutical segment is estimated to witness significant growth during the forecast period. In the process of extraction of a wide range of pharmaceuticals, as well as the synthesis of antibiotics and vitamins carbon tetrachloride is applied to be recrystallized and an efficient reaction solvent. The pharmaceutical segment will be driven by factors like increasing investment in new technology, efficient production, and a growing number of prescriptions.

• Geography 

North America is estimated to contribute 37% to the growth of the global market during the forecast period. In view of the country's large manufacturing and industrial sector, the US has become a major contributor to the carbon tetrachloride market in North America. One of the drivers for growth in carbon tetrachloride markets in the US is an increase in demand from industry to use carbon tetrachloride. Mexico and Canada are the other key markets for carboon tetrachloride in the region.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Sample Report

Carbon Tetrachloride Market 2024-2028: Key Highlights

• Historic Market Size 2018-2022
• CAGR of the market during 2024-2028
• Detailed information on factors that will assist carbon tetrachloride market growth during the next five years
• Estimation of the market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the carbon tetrachloride market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of carbon tetrachloride market companies

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ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Application 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio