Market Research Future (MRFR) has published a cooked research report on the “Global Carbon Tetrabromide Market” that contains information from 2018 to 2032. The carbon tetrabromide market is estimated to register a CAGR of 3.70% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global carbon tetrabromide market— Shanghai Qian Chemical, Hangzhou Dayangchem, Toronto Research Chemicals, Acme Chemical, Alfa Aesar, American Elements, Acros Organics (Fisher Scientific), Aladdin, and Tokyo Chemical Industry
The global carbon tetrabromide market is accounted to register a CAGR of 3.70% during the forecast period and is estimated to reach USD 2.4 Billion by 2032.
Carbon tetrabromide is used in various applications such as fire extinguishing agents and as a precursor in chemical synthesis. Market demand is influenced by fire safety regulations and chemical manufacturing needs.
The global carbon tetrabromide market has been segmented based type and application.
On the basis of type, the market is segmented into carbon tetrabromide powder, carbon tetrabromide granules, and carbon tetrabromide suspension. Carbon tetrabromide suspension segment accounted for the largest revenue share in 2022. Carbon tetrachloride is a typical component in liquid grain fumigation. This mixture provides the most concentrated vapor when used as a liquid to combat insect infestation in grains that have been preserved.
Based on application, the global carbon tetrabromide market has been segmented into chemical reagent, chemical intermediate, solvent, additive, and others. Chemical reagent segment dominated the global Carbon Tetrabromide market in 2022. Tetrachloromethane, also referred to as carbon tetrachloride, is a chemical intermediate utilized in the production of chlorine as well as other products like fertilizers, pesticides, fire extinguishers, and agrochemicals. In the synthesis of numerous chemical products, including organic and inorganic chemicals, it works as a solvent.
The global carbon tetrabromide market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe carbon tetrabromide market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The carbon tetrabromide market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World carbon tetrabromide market comprises of Middle East, Africa, and Latin America.
The North America carbon tetrabromide market dominated this market in 2022 (45.80%). North America is experiencing the fastest growth in the carbon tetrachloride market. Government rules and regulations, however, must forbid the use of carbon tetrachloride since it harms the environment by releasing chlorofluorocarbons (CFCs), which are to blame for the ozone layer's ozone layer depletion.
Moreover, in 2022, the market for carbon tetrabromide in Europe held a sizable market share. Due to its use, there is an increase in demand for carbon tetrachloride. Developing nations like Spain and Italy have put on large international chemical industry events during the past few years. The way that Europe is modernizing and industrializing has further boosted the demand for a variety of chemicals on the local market.
Additionally, the Asia Pacific carbon tetrabromide market is expected to register significant growth from 2023 to 2032. The region's capacity for profitable expansion of carbon tetrachloride is influenced by the region's well-established chemical sector, strong manufacturing base, and growing urbanization. The chemical industry is increasing rapidly in APAC as a result of factors such rising specialized, petrochemical, and agrochemical demand as well as an established production base and urbanization. The booming production of chemicals and their derivatives has led to an increase in the usage of carbon tetrachloride for solvent, blowing agents, organic and inorganic compounds, agrochemicals, and other uses. These factors are likely to lead to an increase in the carbon tetrachloride market throughout the anticipated year in the Asia-Pacific region.
Furthermore, the rest of the world's carbon tetrabromide market is divided into the Middle East, Africa, and Latin America. The Latin American carbon tetrabromide market serves applications in fire safety and chemical production. As safety regulations evolve, industries in the region are seeking effective fire control solutions, impacting the demand for this compound.
Key Findings of the Study