The Carbon Tetrachloride Market is to Touch $249.5 Million by 2030; Rapid growth of the cleaning industry and Flourishing growth of the agriculture industry propels market growth.

The Carbon Tetrachloride Market size is estimated to reach $249.5 million by 2030, growing at a CAGR of 7.8% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Carbon Tetrachloride Market – By Grade (Pharmaceutical Grade, Industrial Grade, Analytical Grade), By Application (Chemical Manufacturing, Fertilizers, Pesticides, Degreasers, Spot Removers, Drugs, Refrigerants, and Others), By End-Use Industry (Medical & Pharmaceuticals, Cleaning [Home and Industrial], Chemicals, Agriculture, Paints, Plastics & Rubber, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Growing demand for carbon tetrachloride in agrochemicals and Increased use in pharmaceutical applications are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share in the Carbon Tetrachloride Market in 2023. The lucrative growth scope for carbon tetrachloride in this region is influenced by the established base for the chemical sector, flourishing manufacturing base and rapid urbanization. According to the European Chemical Industry Council (CEFIC), chemical sales reached US$2390 billion in 2022 in China, US$606 billion in the US and US$760 billion in the European Union nation. Also, in 2023, there was an approximately 1.5% increase in chemical output in Japan. With the flourishing production of chemicals and derivatives, the utilization of Carbon Tetrachloride for solvent, blowing agents, organic and inorganic chemicals, agrochemicals and others is growing. Due to these factors, it is expected that the Carbon Tetrachloride market in the Asia-Pacific region would grow during the forecast period. 

Carbon tetrachloride has been classified as a hazardous substance due to its ozone-depleting properties and potential health risks, leading to stricter regulatory controls under international frameworks such as the Montreal Protocol. As a result, industries that traditionally used carbon tetrachloride, especially in refrigerants and solvents, are increasingly investing in research and development of safer, eco-friendly substitutes. This shift is particularly evident in the refrigerant sector, where companies are moving toward hydrofluorocarbons (HFCs) and other environmentally benign options. While this trend poses challenges for carbon tetrachloride usage, it also drives innovation, as companies look to modify and optimize its applications to meet new environmental standards.

Rapid industrialization, urbanization, and infrastructural developments in these regions are boosting the demand for chemicals used in manufacturing processes, including carbon tetrachloride. The increasing investments in industries like agrochemicals, pharmaceuticals, and metal processing in countries like China, India, and Brazil are contributing to heightened demand. Additionally, lax regulatory environments in some developing countries compared to Western nations allow for more flexible use of carbon tetrachloride in various applications. This provides opportunities for market expansion in regions where industrial growth and consumer demand are rising, despite the global regulatory pressure to limit its use.