Thiochemical Market Research Report – Forecast to 2030

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

ID: MRFR/CnM/4781-CR | July 2018 | Region: Global | 158 pages

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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   2022Β toΒ 2030
      Historical Data   2019Β &Β 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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    Frequently Asked Questions (FAQ) :

    The valuation of the global thiochemical market is projected to grow to USD 3,423.3 MN by 2024, registering 3.75% CAGR during the assessment period (2018-2024).

    Mercaptans, Sulfonyls, Sulfide & Polysulfides, Thioglycolics, and Sulfates & Sulfites, are the four major types of thiochemical, which are extensively used in the process of replacing oxygen ion in an atom by a sulphur ion.

    O&G, chemical, animal nutrition, pharmaceutical, electrical & electronics, agrochemical, and cosmetics & personal care, are some of the major end-use industries where thiochemical is used.

    Bolstering demand for sulfur derivatives led by the various applications across industries.

    Asia Pacific holds the largest share in the global thiochemical market followed by North America and Europe, respectively.

    Merck KGaA (Germany), BASF SE (Germany), Bruno Bock Chemische Fabrik GmbH & Co. KG (Germany), Arkema SA (France), Zhongke Fine Chemical Co., Ltd. (China), TORAY INDUSTRIES INC. (Japan), HEBEI YANUO Bioscience Co., Ltd. (China), Chevron Phillips Chemical Company (US), Varsal (US), Taizhou Sunny Chemical Co., Ltd (China), Affon Chemical Co. Ltd. (China), Oxon Italia S.p.A. (Italy), Uniwin Chemical Co., Ltd. (China), SHINYA CHEM (China), and Thermo Fisher Scientific (US), are some of the leading players in the global thiochemical market.

    Global Thiochemicals Market: Competitive Landscape


    Some of the key players operating in the global thiochemicals market are Arkema SA (France), TORAY INDUSTRIES, INC. (Japan), Chevron Phillips Chemical Company (U.S.), BASF SE (Germany), Merck KGaA (Germany), BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany), Zhongke Fine Chemical Co., Ltd. (China), HEBEI YANUO Bioscience Co., Ltd. (China), Taizhou Sunny Chemical Co., Ltd (China), Oxon Italia S.p.A. (Italy), Varsal (U.S.), Affon Chemical Co., Ltd. (China), SHINYA CHEM (China), Uniwin Chemical Co., Ltd. (China), and Thermo Fisher Scientific (U.S.).


    Arkema SA (France), and Chevron Phillips Chemical Company (U.S.)collectively hold the largest share of the global thiochemicals market. There is intense competition in the market among these leading players on account of the growing product demand across various end-use industries. The market is marked by the presence of tier-1 and tier-2 companies. The major market players are adopting various business strategies including capacity expansion, investment, new product launches, and joint ventures to attain a substantial share of the market and earn sizeable revenue during the forecast period.


    Arkema SA is a global manufacturer of specialty chemicals and advanced materials. In June 2018, Arkema announced the doubling of its thiochemicals production at its Beaumont site in Texas, U.S., in collaboration with Novus International, Inc. This is expected to enhance the company’s position in the animal nutrition market and make Arkema a leader in the high-value-added sulfur derivatives market. The new plant is expected to be operational by the summer of 2021. In November 2017, Arkema announced the doubling of the production capacity of its methyl mercaptan unit in Kerteh, Malaysia, by 2020.


    Chevron Phillips Chemical Company LLP (CPChem) produces various organic chemical products. In March 2014, CPChem opened a new manufacturing facility in Tessenderlo, Belgium, to meet the growing demand for hydrogen sulfide (H2S) and additional sulfur-based products such as mercaptans, sulfides, polysulfides, and Scentinel gas odorants. The plant has helped increase production capacity by around 40%. In May 2017, CPChem expanded production capacity of ethyl mercaptan (EM) and tetrahydrothiophene (THT) at the plant by 65% to ensure a long-term and dependable supply of these products.