Thiochemical Market, By Product Type (Mercaptans, Sulfide & Polysulfides, Sulfonyls, Thioglycolics, Sulfates & Sulfites, Others), End-use Industry (Oil & Gas, Animal Nutrition, Chemical, Pharmaceutical, Agrochemical, Electrical & Electronics, Cosmetics & Personal Care, Others) and Region - Forecast till 2030

Thiochemical Market Overview

Thiochemicals are compounds in which the oxygen ion in the atom is replaced by a sulphur ion. The need for sulfur derivatives due to its application in various industrial sectors can bolster the demand for thiochemicals. The global thiochemical market size is anticipated to touch USD 3,423.3 million by 2024, as per an in-depth report by Market Research Future (MRFR). It is predicted to experience a 3.75% CAGR during the assessment period (2018-2024).

The use of these compounds by the oil & gas and animal nutrition sectors is expected to propel market demand exponentially during the forecast period. The ban on methyl bromide for the manufacture of soil fumigants provides a viable niche for the market to tap into. The emergence of dimethyl disulfide as a viable alternative which adheres to regulations outlined in the Montreal Protocol can open up novel opportunities for market growth over the forecast period.

Report Overview

This report covers current events and trends in the market for thiochemicals to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections. MRFR’s report includes a thorough analysis of the global thiochemical market segmented on the basis of product type, end-user, and region with astute insights. The report has been prepared to assist industry players in making the right decisions which can culminate in fruitful returns. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

Segment Overview

By product type, the thiochemical market comprises sulfonyls, thioglycolics, sulfides & polysulfides, sulfates & sulfites, mercaptans, and others. The mercaptans segment is predicted to be worth USD 1,444.8 million by 2024. The demand for gas iodizers to control gas leakage is expected to catapult the segment growth over the forecast period.

Oil & gas, animal nutrition, agrochemicals-market-1267'>agrochemical-market-749'>agrochemicals, chemicals, pharmaceuticals, cosmetics & personal care, electrical & electronics, and others constitute as major market end-users.

The segments and sub-segments covered in the report are analyzed under five major regions – North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA), with respective country-level market sizing. The standard definition of “thiochemical” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.

Players Covered

Taizhou Sunny Chemical Co., Ltd (China), SHINYA CHEM (China), Arkema SA (France), Zhongke Fine Chemical Co., Ltd. (China), Affon Chemical Co., Ltd. (China), TORAY INDUSTRIES, INC. (Japan), Chevron Phillips Chemical Company (U.S.), Varsal (U.S.), HEBEI YANUO Bioscience Co., Ltd. (China), Uniwin Chemical Co., Ltd. (China), Oxon Italia S.p.A. (Italy), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany), and BASF SE (Germany) are reputed players currently operational in the thiochemical market. The market is characterized by expansions and partnerships. This is evident by the establishment of the thiochemicals plant by Arkema in Malaysia. This move has strengthened Arkema’s position in Asia providing it an edge over its competitors.

The report offers comprehensive profiles on these market players and assesses their current standing in the thiochemical market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Recent Development

December 2021 - Apotex Corp. has been granted the approval and given the Competitive Generic Therapy designation for its new generic variation of Atropine Sulfate Ophthalmic Solution USP, with 1% given by the US Food and Drug Administration.
As part of the first application, the company has been given 180 days of total CGT exclusivity. Atropine Sulfate is used to treat Cycloplegia as well as Mydriasis, along with the penalization of healthy eyes while treating amblyopia.

January 2022 - The FDA has given the abbreviated new drug application approval to the Milla Pharmaceuticals, a division of the Alter Pharma Group, for its latest generic variation of magnesium sulfate in water for use in injection in single-patient use containers of nonpolyvinyl chloride.
Magnesium sulfate injections are helpful in preventing seizures in individuals with preeclampsia, coupled with seizure control in those with eclampsia, which is a life-threatening complication during pregnancy.

Research Methodology

Market Research Future (MRFR) employ a selective body of methods which assist in a scientific and systematic approach to research of the given field of study. Primary methods such as interviews with decision makers of leading competitors in the market have been used along with secondary methods to provide a comprehensive view of the market scenario. Credible sources such as white papers, annual reports, and SEC filings have been used as a part of objective secondary research methods. Top-down and bottom-up approaches have been applied to the field of study to provide accurate estimation and validation of the market. Inquisitive and proficient data analysts exhaust every line of research based on pertinent parameters to offer intelligent inputs and a dependable understanding of the market in its entirety.

Analysis Period

• Base Year - 2017


• Projection Period - From 2018 to 2024


• Market Denomination - USD Million


• Volume Unit – Kilo Tons


• Conversion Rate - Considered as per the respective financial years

For the scope of research, the report offers a comprehensive analysis of the global thiochemical market.

Product Type

• Mercaptans


• Sulfide & Polysulfides


• Sulfonyls


• Thioglycolics


• Sulfates & Sulfites


• Others

End-use Industry

• Oil & Gas


• Animal Nutrition


• Chemical


• Pharmaceutical


• Agrochemical


• Electrical & Electronics


• Cosmetics & Personal Care


• Others

Region

• North America; The U.S., and Canada


• Europe; Germany, Italy, Russia, the U.K, France, Germany, Spain, and Rest of Europe


• Asia Pacific (APAC); China, Japan, India, Indonesia, Australia, New Zealand, South Korea, and Rest of APAC


• Latin America; Argentina, Mexioc, Brazil, and Rest of Latin America


• The Middle East & Africa (MEA); Turkey, Gulf Cooperation Council (GCC), North Africa, and Rest of the MEA

Report Scope:

Report Attribute/Metric	Details
Market Size	2024: USD 3,423.3 million 2030 : Significant value
CAGR	3.75% (2022-2030)
Base Year	2021
Forecast Period	2022 to 2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, Product Type and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Taizhou Sunny Chemical Co., Ltd (China), SHINYA CHEM (China), Arkema SA (France), Zhongke Fine Chemical Co., Ltd. (China), Affon Chemical Co., Ltd. (China), TORAY INDUSTRIES, INC. (Japan), Chevron Phillips Chemical Company (U.S.), Varsal (U.S.), HEBEI YANUO Bioscience Co., Ltd. (China), Uniwin Chemical Co., Ltd. (China), Oxon Italia S.p.A. (Italy), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany), and BASF SE (Germany)
Key Market Opportunities	New product launches and R&D Amongst major key Players
Key Market Drivers	Bolstering demand for sulfur derivatives led by the various applications across industries

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