In terms of production and consumption, China and India are expected to lead the world market for carbon tetrachloride in the Asia Pacific region. Furthermore, it is anticipated that the region's emerging economies, including Indonesia, Taiwan, and Malaysia, will make up a significant portion of the market during the forecast period. The rise in demand for carbon tetrachloride in the local market may also be attributed to the increasing number of end-use industries in these nations. Due to the strict regulations put in place by local regulatory organisations and environmental agencies, like the US Environmental Protection Agency, regarding the production and volumetric consumption of carbon tetrachloride, market growth in North America and Europe is predicted to be relatively moderate. It is also anticipated that growth will be somewhat above normal in other regions like South America, the Middle East, and Africa. The chemical substance known as carbon tetrachloride is known by various names in diverse fields.
The Coherent Market Insights estimates that the size of the global Carbon Tetrachloride Market is anticipated to increase at a CAGR of 4.9% from 2019 to 2027, suggesting significant benefits in the near term.
Major Players in the Carbon Tetrachloride Industry:
1. AkzoNobel N.V.
The company was founded in 1994, and its headquarters are in Amsterdam, Netherlands. Akzo Nobel produces paints and performance coatings for use in industry and by consumers worldwide. In December 2022, AkzoNobel will purchase the liquid coatings business of Lankwitzer Lackfabrik's aluminium wheels. In June 2022, AkzoNobel expanded its production of water-based texture paints in China.
2. Tokuyama Corporation
The firm was founded in 1918 and has its main office in Tokyo, Japan. The Tokuyama Corporation manufactures synthetic resins, cement, inorganic and organic industrial chemicals, and building supplies. The product lines of the company include polycrystalline silicon, soda chemicals, and Portland cement. The demonstration of pure hydrogen fuel cell generators using by-product hydrogen was launched by Tokuyama and Panasonic in sep 2021.
3. Gujarat Alkalies & Chemicals Ltd.
The company was founded in 1973 and is based in Vadodara, Gujarat, India. The business produces chemicals including chlor-alkalies. Caustic soda, the acid hydrochloric, acid phosphoric, carbonate of potassium, hydrogen peroxide, chlorine gas and hydrogen gas are among the company's offerings.
4. Ineos
The firm was started in 1998 and is located in London. In addition to offering chemical services and goods, the company also produces petrochemicals, specialised chemicals, and oil-related products. Ineos signed a 10-year agreement to purchase offshore wind energy from Engie's Northern wind farm in September 2020. Ineos committed to buying BP's petrochemicals division for $5 billion in June 2020.
5. Solvay S.A.
The company was founded in 1863 and is based in Brussels, Belgium. The company manufactures silica, surfactants, hydrogen peroxide, functional polymers, soda ash, flavours for food and aromas and other specialised polymers. The first mass balance sulfone polymers with ISCC PLUS certification were introduced by Solvay in April 2023. Solvay finalised the sale of its RusVinyl share in March 2023.
6. Occidental Chemical Corporation
The company was started in 1909 and is located in Texas, United States. Chemicals like caustic soda, polyvinyl chloride resins, and chlorine are all produced by the Occidental Chemical Corporation. Plastics, medicines, and water treatment chemicals are all produced with the help of the company's chemicals.
7. Shin-Etsu
The business was established in 1926 and is based in Tokyo, Japan. The business manufactures and sells synthetic resins, along with other chemical goods like fertilisers and rare earth quartz for use in electronic components. In terms of semiconductor silicon, photomask substrates, and polyvinyl chloride, Shin-Etsu dominates the worldwide market.
Definition: The chemical compound having the molecular formula CCl4 is known as carbon tetrachloride and goes by several other names. It is a colourless, non-flammable liquid that has a faint, "sweet" chloroform-like odour.
