SAN FRANCISCO , June 17, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Carbon Disulphide – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 9; Published: June 2022
Executive Pool: 732
Companies: 54 – Players covered include Akzo Nobel NV; Alfa Caesar; Arkema group; Avantor Performance Materials, Inc.; GFS Chemicals, Inc.; Jiangsu Jinshan Chemical Co.Ltd. ; Liaonian Ruixing Chemical; Manass Jinyunli Chemical Co. Ltd. ; Merck KGaA; Nourion; Parchem Fine and Specialty Chemicals; Seidler Chemical Co.; Shanghai Baijin Chemical Group Co., Ltd. ; ShanXi Jinxinghua Chemical Co.Ltd. ; Tedia; Toyobo and others.
Cover: All major geographies and key segments
segments: End use (textiles, industry, packaging, agriculture, pharmaceuticals, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; 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 COVID-19 crisis, Global Carbon Disulfide Market Estimated at US$158.9 million in 2022, is expected 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 expected to grow at a CAGR of 3.7%, while the growth of the industrial segment is readjusted at a revised CAGR of 3.1%. The global market, post-pandemic, is showing robust health and is expected to witness impressive growth in the coming years owing to strong demand from various end-use industry verticals. The expansion of the market is expected to be aided by the increasing demand for cellophane from the packaging industry coupled with the growing consumption of fertilizers in emerging economies. The global compound market is benefiting from the growing consumption of cellulose and cellulosic fibers across different industries. The growing demand for rayon or other cellulosic fibers from the fabric and textile industry, primarily in Asia Pacific, should bode well for the market. Carbon disulfide is also enjoying increasing use for the production of mining chemicals.
Factors such as rising prices of major raw materials are prompting various companies to resort to carbon disulfide for the production of mining chemicals. The carbon disulfide market is expected to benefit from the growing demand for fertilizers in developing countries to increase agricultural yield. The trend is likely to create new avenues for specific niche applications like fumigants and insecticides. Additionally, rising demand for various chemicals such as carbon tetrachloride, rayon, and cellophane in end-use industries including refrigeration, food packaging, and textiles is expected to drive the market growth. Future market expansion is expected to be aided by the continued growth of the carbon nanotube market as well as increasing investment in R&D activities associated with nanomaterials.
Carbon disulfide is commonly used as a non-polar solvent in various applications. The compound exhibits an effective solvent for sulfur, phosphorus, selenium, bromine, asphalt, iodine, resin, greases and rubber. Additionally, carbon disulfide is also used to clean carbon nanotubes. In recent years, the growing demand for specific nanomaterials, primarily carbon nanotubes, has driven the global adoption of carbon disulfide as an effective bipolar cleaning solvent.
The global market will benefit from the growing demand for various applications across end-use industry verticals. Carbon disulfide is a key ingredient for the production of various chemicals like rayon, carbon tetrachloride and cellophane which are enjoying increasing demand from the refrigeration, textile and food packaging industries. . Carbon disulfide is widely used for cleaning carbon nanotubes and is poised to benefit from the growing adoption of advanced nanomaterials. While the growing demand for the compound for cellophane production is expected to benefit the packaging segment, the growing popularity of carbon disulfide as an effective substitute for ammonia fertilizers is expected to create new avenues for growth. Additionally, the market is expected to benefit from the increasing use of carbon disulfide for the protection of fruits against insects and fungi.
Rubber continues to be one of the major applications and dominant segments of the carbon disulfide market. The compound has been widely used as an accelerator in the rubber vulcanization process since the late 19th century. The rubber segment is expected to show healthy growth due to increased production of vehicles and use of rubber for non-tire products. On the other hand, the packaging segment of the carbon disulfide market is expected to show considerable growth over the coming years. The segment is benefiting from the growing adoption of cellophane in the packaging industry. The carbon disulfide market is also expected to receive an impressive contribution from the growing demand for the compound for fertilizer production. Furthermore, the fiber segment is expected to witness the fastest growth owing to the extensive use of carbon disulfide in the textile industry as well as its increasing use as a catalyst for fiber production. In terms of purity, the carbon disulfide market is segregated into pure and impure compound, with the latter holding the dominant share in the global market.
The global carbon disulfide market expansion is constrained by strict regulations due to the compound’s negative health effects including confusion and migraines. Long-term exposure of people to carbon disulfide leads to various neurological effects such as neurophysiological and behavioral changes. These health implications have prompted major environmental agencies to impose strict regulations regarding the use of the compound in several products. These regulations force various manufacturers to look for compound-specific alternatives, which is expected to hamper the growth of the market. Future market expansion will likely also be affected by the increasing replacement of rayon by lyocell. After
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SOURCE Global Industry Analysts, Inc.