Thiochemical Market to Reach USD 3423.3 Million by End of 2024 :

Overview


The global thiochemical market, during the forecast period 2018-2024, will register growth at a CAGR of 3.75%. The market for thiochemical is set to reach US$3,423.3 million by 2024. As per thiochemical market analysts, the global market is anticipated to witness growth owing to the factors such as the need for sulfur derivatives as well as the need for sulfur derivatives due to application in various industrial sectors. However, the this market will face challenges and restraints due to environmental concerns and strict rules and regulations during the forecast period 2018-2024.


The use of compounds by the oil & gas and animal nutrition sectors in the thiochemical industry is set to play a key role in determining the growth potential during 2018-2024 years. Analysts have also studied this market to understand potential threats and challenges the thiochemical market companies could face. Although the market is poised to grow at a fast pace across product type and end-use industry segments, factors such as concerns regarding health could slow down the thiochemical market's growth worldwide.


Market Segmentation


The market has been segmented into product type and end-use industry. Based on the segment which is product type, the market is categorized on the basis of mercaptans, sulfates & sulfites, sulfides & polysulfides, sulfonyls, thioglycolics, and others. The global market for thiochemical is further segmented based on end-use industry into agrochemical, animal nutrition, chemical, cosmetics & personal care, electrical & electronics, oil & gas, pharmaceutical, others.


The global thiochemical market research report covers all the aspects of this market based on the segmental analysis of these product type and end-use industry segments. Analysts have also studied the global thiochemical market's regional markets spread across many continents and countries. The product type and end-use industry segments along with their sub-segments have been analyzed and companies functioning in this market across these segments are profiled and analyzed based on input and feedback from thiochemical market based decision makers as well as primary and secondary sources. The thiochemical market research report presents analysis based information for companies functioning in the market.


Regional Overview


Health concerns as well as strict rules imposed by governments across the world may hinder the market growth. The market research report suggests that companies in this market could be supported by the ban on methyl bromide as well as soil fumigants providing a viable niche during the forecast period. The market for thiochemical is set to register growth at a high CAGR owing to these key factors. This market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global thiochemical market research report reveals that APAC, North America, and Europe regional thiochemical markets will dominate the global market for thiochemical during the forecast period 2018-2024. As per market analysts, the market is set to witness tremendous growth across mercaptans, oil & gas, and animal nutrition segments in North America which covers thiochemical markets across the United States, Canada, Mexico and several other regional markets. Companies active in this market are also analyzed and studied in the thiochemical market research report.


The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the thiochemical market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. This market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.


Competitive Landscape


Thiochemical has seen increased demand over the years, due to the emergence of dimethyl disulfide as a viable alternative and restraints which are likely to influence the growth. Companies functioning in the global thiochemical market are also being challenged due to strict rules and environmental concerns. Mergers and acquisitions by thiochemical market companies are anticipated to help the market during the forecast period 2018-2024. As the market is set to register a high CAGR of 3.75% and is also anticipated to reach a US$3,423.3 million by 2024, the report highlights key areas companies need to focus on. The report suggests that the thiochemical market will see a healthy growth in the long run till 2024. Based on SWOT analysis and thiochemical market’s analysis based on Porters’ Five Force Model presented in the thiochemical market report. Mergers and acquisitions by thiochemical market companies are anticipated to help the market during the forecast period 2018-2024. 


Industry News


The Wilmar ethoxylation plant in Lavera, France, has been acquired by INEOS Oxide, the company said. INEOS plans to achieve a capacity of 270,000 tonnes of ethylene oxide each year at Lavera, according to the company. As a result, INEOS Oxide now has alkoxylation assets spread across three INEOS sites. INEOS and Wilmar also entered into a toll manufacturing arrangement to provide ethoxylation power to Wilmar from across the INEOS network as part of the deal, in favour of Wilmar's strategic objectives. The contract covers the site's manufacturing facilities and staff, but Wilmar's business portfolio is not included and will remain with the firm.


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