Carbon Tetrachloride Market Regional Analysis:
APAC Market Insights
The Asia Pacific region is expected to dominate the carbon tetrachloride market registering a share of 33% by the end of 2035. Carbon tetrachloride has a very profitable growth potential in this area due to the established chemical sector, thriving manufacturing, and fast urbanization.
Due to established manufacturing bases, urbanization, and the growing need for specialties, petrochemicals, and agrochemicals, the chemical sector is expanding rapidly throughout Asia. For example, the European Chemical Industry Council (CEFIC) reports that in 2020, chemical sales in China were valued at USD 1,549 billion, USD 427 billion, and USD 499.67 billion in the country that is part of the European Union.
North American Market Insights
The carbon tetrachloride market in the North American region is estimated to grow notably during the studied period. Due to strict regulations imposed by local regulatory bodies and environmental agencies, like the US Environmental Protection Agency, regarding the production and volumetric consumption of carbon tetrachloride, market growth in North America is expected to be relatively moderate.
In addition, the nation's need for chloromethane is expanding due to reasons such as a rise in building activities, increased infrastructure development spending, and a greater emphasis on home-grown manufacturing. The other two major markets in the region for carbon tetrachloride are Mexico and Canada. Therefore, during the projected period, these factors will propel the expansion of the carbon tetrachloride market in the area.
