Global Thiochemical Market was valued US$ XX Bn in 2018 and is expected to reach US$ 4.2 Bn by 2026, at a CAGR of around XX % during a forecast period.
Thiochemical is referred to as chemical, usually an ion, in which the oxygen atom is replaced by a sulphur ion. Almost all chemicals where the oxygen ion is substituted by the sulphur ion is known as thiochemical and a reaction is called as thionation or thiation. Moreover, the activity of thiochemical market is based on animal nutrition, oil and gas, agrochemicals and specialty intermediates.
Global Thiochemical Market
The growth of the global thiochemical market is substantiated by persistent demand from many industry verticals. Thiochemicals find application in diverse use cases across multiple industries like agrochemical, cosmetics, oil & gas, chemical and plastics, and others and expansion of inter-related end-use industries resonate strong growth within the thiochemical market globally.
The emergence of dimethyl disulfide as a sustainable alternative which adheres to regulations outlined in the Montreal Protocol can open up novel opportunities for market growth during the forecast period. However, volatile raw material prices and toxicity concerns are the factors that hindering the market growth of thiochemical sales during the forecast period. The report covers detail dynamics in the thiochemical market as organic and inorganic growth strategies.
Dimethyl sulfoxide (DMSO) segment is expected to register a major XX% share in the thiochemical market globally. This is majorly credited to countless applications including pharmaceuticals, agrochemicals, electronics, fine chemicals, coatings, cleaning and others. It is widely used as a reaction solvent in the pharmaceutical sector because of its effectiveness and favorable toxicological properties.
The oil & gas segment accounted for the largest share of XX% in 2018 and is expected to maintain its lead over the forecast period. Thiochemicals are progressively used as a catalyst in the hydrodesulfurization of fuels, as an anti-cocking agent in the cracking of petroleum refineries, and as odorants for LPG and natural gas.
North America was the major market for thiochemicals in 2018. Demand for thiochemicals is expected to rise in the coming years on account of the increasing number of oil & gas fields. The market for thiochemicals in Europe is expected to witness sluggish growth owing to the presence of stringent regulations due to the harmful effects of sulfur on the ecology. Increasing number of oil & gas fields is expected to boost the market for thiochemicals over the next six years.
The report covers a recent development in the market for thiochemical like in June 2018, Arkema a specialty chemicals and advanced materials company established with its partner Novus International, Inc. an animal health and Nutrition Company to double production capabilities at Arkema’s Beaumont Thiochemical site in the USA. It will support the strong growth in the animal nutrition market and additional strengthens Arkema’s world prominent position in high value-added sulfur derivatives.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Thiochemical Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Thiochemical Market.
Scope of the Global Thiochemical Market
Global Thiochemical Market, By Product Type
• Dimethyl disulfide (DMDS)
• Dimethyl sulfoxide (DMSO)
• Thioglycolic acid and esters
Global Thiochemical Market, By End-Users
• Oil and Gas
• Food and Agrochemicals
• Electrical and Electronics
Global Thiochemical Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Thiochemical Market
• Arkema Group
• Bruno Bock Chemische Fabrik GmbH & Co. KG
• Chevron Phillips Chemical Company
• Daicel Corporation
• Dr. Spiess Chemische Fabrik GmbH
• Hebei Yanuo Bioscience Co. Ltd
• Hohhot Guangxin Chemical Trade Co. Ltd
• Merck KGaA
• Taizhou Sunny Chemical Co. Ltd
• TCI Chemicals
• Toray Fine Chemicals Co. Ltd
• Zhongke Fine Chemical Co. Ltd
• BASF SE
• Oxon Italia S.p.A.
• Uniwin Chemical Co., Ltd.
• SHINYA CHEM
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