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 Taxonomy

On the basis of grade type, the global carbon tetrachloride market has been segmented into:

  • Pharmaceutical
  • Analytical
  • Industrial

On the basis of application, the global carbon tetrachloride market has been segmented into:

  • Pharmaceuticals
  • Agrochemicals
  • Solvents
  • Blowing agents
  • Others

Market Dynamics

Earlier, carbon tetrachloride was extensively used in lava lamps, as a dry cleaning solvent, and refrigerant. Carbon tetrachloride is a primary ingredient in lava lamps since it adds weight to the otherwise resilient wax. However, over the years, its application as a solvent has declined significantly owing to its harmful effects on health, and has been replaced by other solvents such as tetrachloroethylene, and other deuterated solvents. Currently, it is mostly used in laboratory settings as a reagent, as a solvent, and chlorine source in the chemical industry. Furthermore, it is highly toxic to the liver (hepatotoxic), and is used in research and development activities for evaluating hepatoprotective agents. Inhaling high concentrations of carbon tetrachloride (or ingesting and skin absorption) can depress activity in the central nervous system, and lead to death or coma. Owing to its ozone depletion properties, its use has declined over the past few decades. Such factors are expected to restrain demand for carbon tetrachloride in the future.

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.

Key Players

Some of the prominent carbon tetrachloride manufacturers are Tokuyama Corporation, Gujarat Alkalies & Chemicals Ltd., AkzoNobel N.V., Ineos, Solvay S.A., Occidental Chemical Corporation, and Shin-Etsu.

Key Developments

  • In April, INEOS ChlorVinyls restarted the production at its 155,000 tonne/year methylene chloride and chloroform facilities at Runcorn, UK. This facility is capable of producing 100,000 tonnes/year of methylene chloride, 55,000 tonnes/year of chloroform, and smaller quantities of carbon tetrachloride.
  • In July 2015, the carbon credits methodology for the shipping industry of AkzoNobel won the Best Offsetting Project award in the 2015 Voluntary Carbon Market Rankings. This award has been recognized amongst the stakeholders of the voluntary carbon markets and provides recognition to the company and its development partners the Fremco Group and the Gold Standard Foundation.
  • In April 2014, AkzoNobel announced its first carbon credit methodology for international shipping industry. AkzoNobel Marine Coatings Business entered into a partnership with the gold standard foundation with the objective of introducing a new methodology of rewarding the improved fuel efficiency of ships within international maritime industry.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users