Carbon Tetrachloride Market Segmentation:
Application Segment Analysis
The chemical manufacturing segment in the carbon tetrachloride market is estimated to gain a revenue share of about 30% by the year 2035. The segment growth can be attributed to the application of tetrachloromethane or carbon tetrachloride as an intermediate in the manufacture of chlorine, agrochemicals, fire extinguishers, fertilizers, pesticides, and other substances that have a significant scope for growth.
In the manufacture of organic and inorganic chemicals as well as other chemical products, it is applied as a solvent. Due to the growth factors, for example, an increase in production of organic and inorganic chemicals, a growing demand for specialized chemicals as well as existing manufacturing bases, the chemical sector is experiencing strong growth. According to a recent report, the total chemical production output in the U.S. is expected to grow by 1.9% in 2024 and agricultural chemicals are expected to grow by 1.1% in 2024, as per the American Chemistry Council.
End Use Segment Analysis
In terms of end-use, the chemicals segment in the carbon tetrachloride market is estimated to hold the largest revenue share during the forecast period. Since carbon tetrachloride is used for the production of a variety of chemicals, such as chlorine, organic and inorganic compounds, agricultural chemical manufacturing, industrial gases, and other substances, its use has been flourishing in the chemical industry. Growth factors, like a strong base of specialty chemical production units, demand for organic and inorganic chemicals as well as fast industrialization have an impact on the lucrative growth of this industry.
Our in-depth analysis of the global carbon tetrachloride market includes the following segments:
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