Carbon Disulfide Market Expected to A CAGR of 3.8% by 2032...

Carbon Disulfide Market Expected to A CAGR of 3.8% by 2032 Profiling Companies and Growth Strategies

Posted 2023-10-12 13:08:05

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Market Summary: The global carbon disulfide market had a value of USD 1.3 billion in 2022 and is anticipated to reach USD 1.89 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 3.8% during the forecast period. The growth is attributed to increased industrial applications, rising demand from the agriculture sector, and advancements in production processes.

Carbon Disulfide Usage in Various Industries: Carbon disulfide is extensively utilized in industries such as rubber, textiles, and pharmaceuticals. In the rubber industry, it serves as a solvent to enhance the durability and flexibility of synthetic rubber. In textiles, it is employed in the production of viscose fibers used in clothing and home textiles. The demand for comfortable and aesthetically pleasing textiles further drives market growth.

The agriculture sector relies on carbon disulfide for soil fumigation, acting as a pesticide against soil-borne diseases, nematodes, and weeds, supporting agricultural productivity and food security efforts. The automotive industry's growth and the need for high-quality tires are additional factors contributing to market expansion, with a focus on eco-friendly and sustainable production methods.

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Challenges and Restraints: However, the handling and exposure risks associated with carbon disulfide, given its high volatility and flammability, pose a challenge, necessitating strict safety measures. Stringent regulations for worker safety and environmental protection also limit revenue growth.

Key Insights by Product Type: The market categorizes carbon disulfide into industrial grade and pharmaceutical grade. Industrial grade carbon disulfide is prominent, used widely across industries for its solvency properties, cost-effectiveness, and compatibility with other compounds. On the other hand, pharmaceutical grade carbon disulfide is growing steadily, driven by pharmaceutical research, development, and quality standards.

Key Insights by End-Use: The end-use segments include chemicals, agriculture, pharmaceuticals, and others. Chemicals stand out, employing carbon disulfide as a vital solvent and raw material in manufacturing processes. In agriculture, it is used as a soil fumigant and pesticide to improve crop yield and quality. The pharmaceutical sector uses it in the synthesis of pharmaceutical intermediates and active pharmaceutical ingredients.

Regional Dynamics: The Asia Pacific region leads in market revenue share, driven by rapid industrialization in countries like China and India. North America is projected to have the fastest CAGR due to the adoption of energy-efficient policies and the demand for carbon disulfide in air conditioning and cooling systems. Europe experiences moderate growth, mainly fueled by the industrial and food and beverage industries in the UK.

Competitive Landscape: The global carbon disulfide market is concentrated, with major players including Akzo Nobel N.V., Arkema S.A., BASF SE, Dow Inc., Evonik Industries AG, Merck KGaA, Mitsubishi Chemical Corporation, and others. These companies engage in strategic developments, including plant expansions and new product launches, to meet the growing demand.

Report Parameters:

Market size in 2022: USD 1.3 billion
CAGR (2022 - 2032): 3.8%
Revenue forecast in 2032: USD 1.89 billion
Base year for estimation: 2022
Historical data: 2020-2021
Forecast period: 2022-2032
Quantitative units: Revenue in USD billion
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered: Product Type Outlook, End-Use Outlook, Regional Outlook
Product Types: Industrial Grade, Pharmaceutical Grade
End-Use: Chemicals, Agriculture, Pharmaceuticals, Others
Regional scope: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Key companies profiled: Akzo Nobel N.V., Arkema S.A., BASF SE, Dow Inc., Evonik Industries AG, Merck KGaA, Mitsubishi Chemical Corporation, Sinopec Shanghai Petrochemical Company Limited, Solvay S.A., Sumitomo Chemical Co. Ltd, Toray Industries Inc.
Customization scope: 10 hours of free customization and expert consultation.

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