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In the first quarter of 2023, carbon tetrachloride prices in Asia surged due to heightened demand, particularly from the polymer market, and increased manufacturing activities post the Covid and holiday season. However, the second quarter saw a downturn as the polymer sector faced setbacks with significant sales declines, coupled with uncertainties in crude oil costs and diminished support from feedstock prices, leading to a negative price trend. In Europe, a parallel trend occurred with first-quarter price surges due to strong demand and disrupted supply, followed by a decline in the second quarter attributed to challenges in the construction sector and excess inventories. North America experienced a bearish trend throughout both quarters, influenced by weak economic growth, increased interest rates, and altered demand dynamics, resulting in a southward movement in carbon tetrachloride prices.
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Definition
Carbon tetrachloride (CCl4) is a colorless, heavy, and nonflammable liquid with a sweet odor. Comprising one carbon atom and four chlorine atoms, it exhibits excellent solvency for various organic compounds. Historically used as a solvent, refrigerant, and fire extinguisher fluid, its industrial applications have declined due to environmental and health concerns. Carbon tetrachloride is sensitive to moisture and heat, posing health risks and potential environmental hazards. Its properties include a high density, low volatility, and a high boiling point, making it suitable for specific applications but necessitating careful handling and consideration of its associated risks.
Key Details About the Carbon tetrachloride Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Carbon tetrachloride in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Carbon tetrachloride Price forecast, including India Carbon tetrachloride price, USA Carbon tetrachloride price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Carbon tetrachloride Price Trend:
Carbon tetrachloride (CCl4) has had diverse industrial uses, although many have diminished due to environmental and health concerns. Historically, it served as a solvent for oils, fats, and rubber, and as a refrigerant in early cooling systems. Additionally, its fire-extinguishing properties made it valuable in certain fire extinguishers. However, its role as a cleaning agent in the textile and dry-cleaning industries has significantly decreased due to its toxicity. The compound's versatility in industrial processes, as well as its solvency and fire-retardant properties, contributed to its applications, but its use has waned in favor of more environmentally friendly alternatives.
Key Players:
- AkzoNobel N.V.
- Ineos
- Solvay S.A.
- Shin-Etsu
- Gujarat Alkalies & Chemicals Ltd
- Tokuyama Corporation
- DowDu Pont
- The Dow Chemical Company
- Gujarat Alkalies and Chemicals
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