What is the global market size of Thiochemicals Market?

Thiochemicals Market size was valued at USD 2.166 billion in 2021 and is poised to grow from USD 2.22 billion in 2022 to USD 2.72 billion by 2030, growing at a CAGR of 2.5% in the forecast period (2023-2030).

Thiochemicals Companies

Thiochemicals Market Competitive Landscape

The Global Thiochemicals market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Thiochemicals Market Top Player's Company Profiles

Chevron Phillips Chemical Company
Akzo Nobel N.V.
BASF SE
Toray Fine Chemicals Co., Ltd.
Arkema S.A.
Toray Industries Inc.
Solvay S.A.
Lanxess AG
Evonik Industries AG
E. I. du Pont de Nemours and Company
Eastman Chemical Company
Jubilant Life Sciences Limited
Chevron Corporation
Merck KGaA
Sumitomo Chemical Co. Ltd.
Mitsui Chemicals, Inc.
Orica Limited
Tokyo Chemical Industry Co. Ltd.
Thermo Fisher Scientific Inc.
W. R. Grace & Co.

Thiochemicals Market

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Thiochemicals Market size was valued at USD 2.166 billion in 2019 and is poised to grow from USD 2.22 billion in 2023 to USD 2.72 billion by 2031, growing at a CAGR of 2.5% in the forecast period (2024-2031).

The Thiochemicals market is consolidated. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Chevron Phillips Chemical Company', 'Akzo Nobel N.V.', 'BASF SE', 'Toray Fine Chemicals Co., Ltd.', 'Arkema S.A.', 'Toray Industries Inc.', 'Solvay S.A.', 'Lanxess AG', 'Evonik Industries AG', 'E. I. du Pont de Nemours and Company', 'Eastman Chemical Company', 'Jubilant Life Sciences Limited', 'Chevron Corporation', 'Merck KGaA', 'Sumitomo Chemical Co. Ltd.', 'Mitsui Chemicals, Inc.', 'Orica Limited', 'Tokyo Chemical Industry Co. Ltd.', 'Thermo Fisher Scientific Inc.', 'W. R. Grace & Co.'

Since methionine is a key nutrient for the poultry industry, it is expected that the significant usage of this chemical in methionine production will drive the market for Thiochemicals. Thiochemicals are widely used in many different industries as a result of the rising demand for natural gas in home and industrial applications as well as the expanding capacity of oil and gas refining globally.

Ethyl mercaptan serves as a beginning & intermediate material in various industries, the plastic manufacturing industries also contribute significantly to output. Additionally, because it solves the problem of plastic waste, it is anticipated that the growing popularity of plastic furniture will have a good effect on the rate of production.

The market for Thiochemicals is dominated by North America due to the region's robust need for these substances in a variety of fields, including the oil and gas sector. The second and third largest markets for Thiochemicals were North America, Europe, and the Asia-Pacific area. According to projections, Asia Pacific would have the quickest development because of the region's rapidly rising industrial base and growing understanding of animal nutrition methods, particularly in developing countries like China and India. The consumption of poultry is anticipated to rise in the Asia-Pacific area, including in China and India, as a result of a growing population. This is anticipated to intensify the demand for poultry meat and eggs and boost industry usage of Thiochemicals. The product's acceptance in the automotive and transportation industries is what's driving the expansion in Europe.

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Thiochemicals Market Size, Share, Growth Analysis, By Type(Mercaptans, Di Methyl Di Sulfide, Di Methyl Sulfoxide, Thioglycolic Acids), By End User(Oil, Gas, Food, Agro-Chemical), By Region - Industry Forecast 2024-2031

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Thiochemicals Market Size, Share, Growth Analysis, By Type(Mercaptans, Di Methyl Di Sulfide, Di Methyl Sulfoxide, Thioglycolic Acids), By End User(Oil, Gas, Food, Agro-Chemical), By Region - Industry Forecast 2024-2031

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