Global Thiochemicals Market

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


Report ID: SQMIG15E2126 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 75 | Figures: 75

Thiochemicals Market Insights

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).

Sulfur replaces the oxygen molecule in a class of molecules known as Thiochemicals, or thio-compounds. Thionation is the process used to carry out such reactions in which the oxygen ion is swapped out for the sulfur ion. As a key component, sulfur is utilized to create Thiochemicals such methyl mercaptan, which serve as precursors to the amino acids used in animal nutrition products. Thiochemicals compounds are also employed as polymerization, anti-cocking, and gas leak detection agents, among other uses. Thiochemicals, including methyl mercaptan and other mercaptans, are utilized in the oil and gas sector for applications such as desulfurization, the cracking process, and the detection of natural gas leaks. Thiochemicals are additionally utilized in the chemical, polymer, and plastic industries. Thiochemicals, for instance, are used to create thioglycolic acids, which are then utilized to create PVC heat stabilizers. The Thiochemicals market is fueled by an increase in global oil & gas refining capacity as well as increased natural gas consumption for home and industrial applications.

US Thiochemicals Market is poised to grow at a sustainable CAGR for the next forecast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Thiochemicals Market

Report ID: SQMIG15E2126

$5,300
BUY NOW GET FREE SAMPLE