The global thiochemicals market size reached US$ 1038.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,432.1 Million by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Thiochemicals refer to a set of chemicals, wherein the oxygen molecules present in the compound are replaced by sulfur ions through thitation or thionation reaction. They consist of mercaptans or methanethiols, which are extensively used as an odorant for desulfurization and natural gas leakage detection purposes. Apart from this, theochemical compounds are further employed to produce methyl mercaptans and utilized as an anti-cocking and polymerization agent in the polymer industry. On account of these properties, thiochemicals find extensive applications across several industrial verticals. At present, they are commercially available in varying types, such as dimethyl, sulfoxide, thioglycolic acid and ester.
Thiochemicals Market Trends:
The increasing need for animal feed to improve poultry health and fuel the production of various agricultural and animal-based products, including eggs, milk, veal, and chicken, are some of the key factors primarily driving the market growth. Thiochemicals are widely used for formulating methionine that is later incorporated in feeds as a dietary supplement. This is further supported by rising consumption of livestock meat across the globe due to growing health consciousness and awareness regarding their several nutritional properties. In line with this, rapid industrialization has prompted the extensive deployment of thiochemicals in the oil and gas industry for detecting gas leakage and desulfurization of gasoline and diesel, which, in turn, is acting as a major growth-inducing factor. Additionally, the increasing demand for thiochemicals can also be attributed to the rising environmental concerns, which have led governments of various nations to promote the uptake of natural gasses in ongoing petrochemical projects. Apart from this, strategic collaborations amongst key players and significant investments in research and development (R&D) activities to further intensify the effective usage of thiochemicals across sectors are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global thiochemicalsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Dimethyl Sulfoxide (DMSO)
Dimethyl Disulfide (DMDS)
Thioglycolic Acid and Ester
Breakup by Application:
Oil and Gas
Polymers and Chemicals
Food and Agrochemicals
Automotive and Transportation
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., Bruno Bock GmbH (Bruno Bock Holding GmbH & Co. KG), Chevron Phillips Chemical Company LLC, Daicel Corporation, Dr. Spiess Chemische Fabrik GmbH (GECHEM GmbH & Co KG), Hebei Yanuo Bioscience Co. Ltd., Hohhot Guangxin Chemical Trade Co. Ltd., Langfang Shinya Chemical Co. Ltd., Merck KGaA, TCI Chemicals (India) Pvt. Ltd and Toray Fine Chemicals Co. Ltd. (Toray Industries Inc.).
Base Year of the Analysis
Product Type, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Arkema S.A., Bruno Bock GmbH (Bruno Bock Holding GmbH & Co. KG), Chevron Phillips Chemical Company LLC, Daicel Corporation, Dr. Spiess Chemische Fabrik GmbH (GECHEM GmbH & Co KG), Hebei Yanuo Bioscience Co. Ltd., Hohhot Guangxin Chemical Trade Co. Ltd., Langfang Shinya Chemical Co. Ltd., Merck KGaA, TCI Chemicals (India) Pvt. Ltd and Toray Fine Chemicals Co. Ltd. (Toray Industries Inc.)
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Key Questions Answered in This Report
The global thiochemicals market was valued at US$ 1038.6 Million in 2022.
We expect the global thiochemicals market to exhibit a CAGR of 5.3% during 2023-2028.
The rising need for animal feed to improve poultry health and fuel the production of numerous agricultural and animal-based products, such as eggs, milk, veal, chicken, etc., is primarily driving the global thiochemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in a temporary halt in the production activities for thiochemicals.
Based on the product type, the global thiochemicals market has been segregated into mercaptan, Dimethyl Sulfoxide (DMSO), Dimethyl Disulfide (DMDS), thioglycolic acid and ester, thiourea, and others. Among these, mercaptan currently holds the largest market share.
Based on the application, the global thiochemicals market can be bifurcated into animal nutrition, oil and gas, polymers and chemicals, food and agrochemicals, automotive and transportation, consumer goods, plastics, and others. Currently, animal nutrition exhibits clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global thiochemicals market include Arkema S.A., Bruno Bock GmbH (Bruno Bock Holding GmbH & Co. KG), Chevron Phillips Chemical Company LLC, Daicel Corporation, Dr. Spiess Chemische Fabrik GmbH (GECHEM GmbH & Co KG), Hebei Yanuo Bioscience Co. Ltd., Hohhot Guangxin Chemical Trade Co. Ltd., Langfang Shinya Chemical Co. Ltd., Merck KGaA, TCI Chemicals (India) Pvt. Ltd, and Toray Fine Chemicals Co. Ltd. (Toray Industries Inc.).
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