Description:-
Thiochemicals are the group of chemicals involving sulfur atoms. The process wherein oxygen atoms are replaced by sulfur atoms is called as thionation. Thiochemicals include mercaptans (such as methyl mercaptans, ethyl mercaptans, n-dodecyl mercaptan, lauryl mercaptan, polythiols, and others), sulfides & polysulfides (such as dimethyl disulfide (DMDS), dimethyl sulfide (DMS), Di-tert-dodecyl Polysulfide (TDPS), Di-tert-nonyl Polysulfide, and others), sulfonyls (such as dimethyl sulfoxide (DMSO), methane sulfonic acid (MSA), methane sulfonic chloride (MSC), methane sulfonic anhydride, stannous methanesulfonate, lead methanesulfonate, copper methanesulfonate, and others), thioglycolics (such as thioglycolic acid (TGA) and 2-ethylhexyl thioglycolate (2-EHTG), and others), sulfates & sulfites (such as sodium metabisulfite, sodium sulfite, potassium metabisulfite, and others), mithionine, thioacetic acid, thiophene, thioglycerol, thiolactic acid, thioacetic acid, thiourea, thioethers, thiosynates, sulfolanes and others. Thiochemicals find wide applications across various end-use industries such as oil & gas, animal nutrition, agrochemical, healthcare, cosmetic, chemical (polymer, rubber, paints & coatings, fine chemistry, ink & dyes, and others), electrical & electronics, home care industry and others.
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The global thiochemical market is expected to grow at CAGR of 3.75% during forecast period of 2019-2024 and expected to reach USD 3,423.3 million by 2024. The global thiochemical market is majorly driven by the rising demand of it from the oil & gas and animal nutrition industry. Additionally, growing agrochemical industry is likely to showcase major growth opportunity to the product market owing to the use of thiochemical such as dimethyl disulfide after the ban of methyl bromide for soil fumigation applications during the forecast period. Furthermore, key players are majorly investing in R&D & technological innovations to uplift the product market. For instance, Arkema has made a joint venture with CJ CheilJedang of South Korea to start the production of bio-methionine, a biobased alternative to the methionine which is widely consumed as a food supplement in animal nutrition products. However, high production due to volatile raw material prices to likely to hamper the market growth to some extent.
Regional Analysis
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global thiochemical market. Asia-Pacific is the fastest and the largest growing region across the globe and is accounting for 42.0% value share of the overall market due to the most aggressive growth in the end user industry (oil & gas, animal nutrition, chemical, pharmaceutical, agrochemicals, electrical & electronics and cosmetics & personal care) in the region. The growing use of thiochemicals in oil & gas industry as odorants for natural gas and as an integrated solutions to enhance the efficiency of operation of steam crackers and refineries in the region is one of the major factor for the region to dominate across the globe. The region can showcase a CAGR of 4.12% in the coming year.
North America accounted for second largest market share in global market. Increasing use of thiochemicals as animal nutrition chemical in US is expected to boost demand of market in North America region. North America region registers a CAGR of 3.62% during the assessment period.Europe accounted for third largest market share in the global thiochemical market and register a CAGR of 3.50% during the forecast period. Latin America and Middle east & Africa accounts for single digit market share because of less development of end user industries such as animal nutrition, chemical, pharmaceuticals in the regions. Latin America and Middle east & Africa registers the CAGR of 3.27% and 3.14% respectively.
Market Segmentation
The global Thiochemical market has been segmented on the basis of type, end user industry and region.
Based on product type, the market comprises sulfates & sulfites, thioglycolics, sulfonyls, mercaptans, sulfides & polysulfides and others. Among these segments, mercaptans accounted for the largest market share in 2017 by generating 43.2% of the total market revenue.
Based on end-user industry, the market includes cosmetics & personal care, agrochemicals, animal nutrition, electrical & electronics, pharmaceutica, oil & gas, chemicals and others. Among these end user industry, oil & gas segment accounted for largest market share and witness remarkable growth in near future.
The global thiochemical market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Geographic Analysis
The geographic regions covered in the report are stated as below:
• North America
o The U.S.
o Canada
• Europe
o Germany
o France
o Italy
o Russia
o U.K
o Spain
o Rest of Europe
• APAC
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East & Africa
o G.C.C
o Iran
o Israel
o Egypt
o Rest of Middle East & Africa
……..
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Table Of Contents – Major Key Points
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the study
2.3 List of Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing thiochemicals demand in oil & gas industry
4.2.2 Increasing demand from animal nutrition industry
4.3 Restraints
4.3.1 Volatile raw material prices and toxicity concerns
4.4 Opportunities
4.4.1 Banned on methyl bromide for soil fumigation
4.5 Trends & Technologies
4.5.1 Rising preference for bio-based alternatives
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Thiochemical Manufacturers
5.1.3 Distribution Channel
5.1.4 End-use industry
5.2 Porter’s Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Threat of Rivalry
5.2.3 Threat of Substitute
5.2.4 Bargaining Power of Supplier
5.2.5 Bargaining Power of Buyer
Continued……
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