The global carbon tetrachloride market size is likely to witness potential gains in the near future, and is expected to grow at a CAGR of 4.9% over the forecast period (2019 - 2027).
Market Overview
Carbon tetrachloride is an organic compound that is recognized by different names in other industries. For instance, it is called tetrachloromethane in the chemicals industry, carbon tet in the cleaning industry, Refrigerant-10 in the development of HVACR units, and Halon-104 for use in fire extinguishers. Carbon tetrachloride is a clear, stable, and volatile chlorinated hydrocarbon that has a faint, sweet odor, and is thicker than water (13.2 lb/gal) as well as insoluble in water. It is non-combustible and has primary application in fire extinguishers, as well as a cleaning agent, and precursor for refrigerants.
Market Outlook
Asia Pacific is estimated to witness the fastest growth in the global carbon tetrachloride market, with countries such as China and India to lead in terms of production and consumption. Moreover, emerging economies in the region, such as Indonesia, Taiwan, and Malaysia are expected to account for a major share over the forecast period. The growing number of end use industries in these countries can also contribute to the increasing demand for carbon tetrachloride in the regional market. Market growth in North America and Europe is projected to be comparatively moderate as a result of stringent guidelines implemented by regional regulatory bodies and environmental agencies such as the U.S. environment protection agency, regarding the production and volumetric consumption of carbon tetrachloride. Other regions such as South America, Middle East, and Africa are also projected to exhibit slightly above average growth.
Market Trends
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients