With Market Size Valued at $181.9 Million by 2026, it`s a Healthy Outlook for the Global Carbon Disulfide Market
SAN FRANCISCO , June 17, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Carbon Disulfide – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 9; Released: June 2022
Executive Pool: 732
Companies: 54 – Players covered include Akzo Nobel N.V.; Alfa Aesar; Arkema Group; Avantor Performance Materials, Inc.; GFS Chemicals, Inc.; Jiangsu Jinshan Chemical Co. Ltd.; Liaonian Ruixing Chemical; Manass Jinyunli Chemical Co. Ltd.; Merck KGaA; Nouryon; Parchem Fine & Specialty Chemicals; Seidler Chemical Co.; Shanghai Baijin Chemical Group Co., Ltd.; ShanXi Jinxinghua Chemical Co. Ltd.; Tedia; Toyobo and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Textile, Industrial, Packaging, Agriculture, Pharmaceuticals, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Amid the COVID-19 crisis, the global market for Carbon Disulfide estimated at US$158.9 Million in the year 2022, is projected to reach a revised size of US$181.9 Million by 2026, growing at a CAGR of 3.1% over the analysis period. Textile, one of the segments analyzed in the report, is projected to grow at a 3.7% CAGR, while growth in the Industrial segment is readjusted to a revised 3.1% CAGR. The global market, post pandemic, is displaying robust health and is predicted to experience impressive growth in the coming years on account of strong demand from diverse end-use industry verticals. Market expansion is slated to be favored by increasing cellophane demand from the packaging industry coupled with rising fertilizer consumption in emerging economies. The global market for the compound is gaining from rising consumption of cellulose and cellulosic fibers in different industries. Increasing demand for rayon or other cellulosic fibers from the fabric and textile industry, mainly in Asia-Pacific, is anticipated to augur well for the market. Carbon disulfide is also benefitting from increasing use for production of mining chemicals.
Factors such as escalating prices of key raw materials are prompting various companies to rely on carbon disulfide for mining chemicals production. The carbon disulfide market is slated to benefit from growing demand for fertilizers across developing countries to push agricultural yield. The trend is likely to create new avenues for specific niche applications like fumigants and insecticides. In addition, escalating demand for various chemicals like carbon tetrachloride, rayon and cellophane in end-use industries including refrigeration, food packaging and textile is bound to bolster the market growth. Future expansion of the market is anticipated to be favored by continuous growth of the carbon nanotube market along with increasing investments in R&D activity associated with nanomaterials.
Carbon disulfide is commonly used as non-polar solvent in various applications. The compound presents an effective solvent for sulfur, phosphorus, selenium, bromine, asphalt, iodine, resin, fats and rubber. Moreover, carbon disulfide is also used to clean carbon nanotubes. In the recent years, increasing demand for specific nanomaterials, mainly carbon nanotubes, has pushed overall uptake of carbon disulfide as an effective bipolar cleaning solvent.
The global market will benefit from increasing demand from various applications across end-use industry verticals. Carbon disulfide is a key ingredient for production of various chemicals like rayon, carbon tetrachloride and cellophane that are enjoying increasing demand from the refrigeration, textile and food packaging industries. Carbon disulfide is widely used for cleaning of carbon nanotubes, and poised to gain from increasing uptake of advanced nanomaterials. While growing demand of the compound for cellophane production is slated to benefit the packaging segment, rising popularity of carbon disulfide as an effective substitute for ammonia fertilizers is anticipated to create new growth avenues. Moreover, the market is likely to benefit from increasing use of carbon disulfide for protection of fruits from insects and fungus.
Rubber continues to be one of the primary applications and dominating segments of the carbon disulfide market. The compound has been extensively used as accelerator in rubber vulcanization process since the late 19th century. The rubber segment is anticipated to exhibit a healthy growth owing to increasing vehicle production along with use of rubber for non-tire products. On the other hand, the packaging segment of the carbon disulfide market is estimated to post considerable growth over the coming years. The segment is gaining from increasing uptake of cellophane in the packaging industry. The carbon disulfide market is expected to also receive an impressive contribution from increasing demand of the compound for fertilizer production. In addition, the fiber segment is predicted to witness the fastest growth due to extensive use of carbon disulfide in the textile industry along with increasing use as catalyst for fiber production. In terms of purity, the carbon disulfide market is segregated into pure and impure compound, with the latter holding the commanding share of the global market.
Overall expansion of the carbon disulfide market is being restrained by stringent regulations due to negative health effects of the compound, including confusion and migraines. Long term exposure of people to carbon disulfide is found to result in various neurologic effects such as neurophysiologic and behavioral changes. These health implications have prompted leading environmental agencies to impose stringent regulations pertaining to use of the compound in several products. These regulations are compelling various manufacturers to investigate specific alternatives to the compound, which is slated to hinder the market growth. Future expansion of the market is likely to be also affected by increasing substitution of rayon by lyocell. More
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