Thiochemicals Market 2021 – Global Industry Analysis, By Key Players, Segmentation, Trends and Forecast By 2024
Research Reports
Jan 05, 2021
Introduction
Global Thiochemicals Market
Thiochemical are known to be components that have their Oxygen atom replaced by a Sulphur. The reaction is called Thionation. It is widely used to produce Methyl Mercaptan which is utilized in the production of dietary supplement for poultry and animal feed. It is also used as solvents and intermediates in the chemical and plastics industry, as well as, the automotive industry. Oil and Gas sector uses this to increase the efficiency of steamcracker and refineries. It is also used to detect leakages and desulphurization process. The global thiochemical market is expecting strong tailwinds from several sector owing to which a smooth growth is possible in the coming years.
Several factors are expected to motivate the thiochemicals market in its growth. Various end-user industries like automotive, metal manufacturing & hygiene, pharmaceutical, oil & gas, electrical & electronics, food & agrochemical, and cosmetics & personal care are providing much impetus to the global thiochemical market. However, the growth have to adhere to various government policies as well.
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Key Players of Global Thiochemicals Market =>
Major manufacturers for thiochemical market are BASF group, Arkema group, Hubei Xingchi, Taizhou Sunny Chemical, Sipcam Oxon etc.
Segments:
The Global Thiochemical market can be segmented by its Product and Application. This study reveals details regarding factors that can have strong impact on the market in the coming years.
Based on the product, the global Thiochemical Market can be segmented into Dimethyl Disulphide, Methanesulfonic Acid, Stannuos Methanesulphonate, Methanesulfonyl Chloride, Methanesulfonyl Anhydride. Dimethyl Disulphide also known as DMDS is widely used in food and agrochemical industry as food additive and as effective soil fumigant in agricultural sector. It is used in Oil refineries as Sulfiding agent. Methanesulfonic Acid is mainly used in Polymerisation process. It has a good acidity and solubility properties, which makes it useful as a catalyst in organic reactions. Stannuos Methanesulphonate has a wide range of application from washing & cleaning sector, metal manufacturing, metal surface treatment to electronic items, such as computers, television manufacturing. Methanesulfonyl Chloride is used in Agrochemical and pharmaceutical industries. Methanesulfonyl Anhydride is used in producing Mesylates for pharmaceutical sectors.
Based on the Application Thiochemicals market can be segmented into food & agrochemical, petrochemical, chemical & plastic industry, metal manufacturing, electronics & computer, automotive industry, pharmaceutical & hygiene, and beauty product industry.
Regional Analysis:
North America, Middle East & Africa (MEA), Europe, South America and Asia Pacific (APAC) are regions in which this Global market for Thiochemical products can be segmented.
North America, owing to the growing number of oil & gas industries, petrochemical projects and its high consumption of poultry-based diet, will have strong demand for thiochemical products in coming years. The U.S. and Canada are expected to hold the market strong with their robust infrastructure. Whereas, Europe and the MEA countries are expected to gain much from Petrochemical projects, as stringent rules have been placed into action to reduce the Sulphur content from fuel. Demand for thiochemical agents in APAC countries especially in India and China is expected to grow, as food preferences is changing across various population groups.
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