As per MRFR Analysis, the global thiochemical market was valued at USD 2.60 Billion in 2023 and is projected to grow to USD 3.30 Billion by 2032, with a CAGR of 2.70% from 2024 to 2032. Thiochemicals, characterized by sulfur ion substitution, are increasingly demanded in industries such as oil and gas and animal nutrition. The market is expected to benefit from the rising poultry consumption in the Asia-Pacific region, particularly in India and China, and the introduction of alternatives to methyl bromide. However, high toxicity levels of certain thiochemicals may hinder growth. Opportunities are emerging in African markets, notably South Africa and Kenya, as the industry expands.
Key trends influencing the thiochemical market include rising demand in various sectors and regulatory changes.
Key players include Arkema SA, BASF SE, Merck KGaA, and Chevron Phillips Chemical Company.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
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.
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.
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.
The US Food and Drug Administration has given Apotex Corp. approval and the Competitive Generic Therapy designation for its new generic variation of Atropine Sulfate Ophthalmic Solution USP, with a concentration of 1% increasing Thiochemical Market. Milla Pharmaceuticals, a division of the Alter Pharma Group, has received FDA approval for its latest generic version of magnesium sulfate in water for use in injection in single-patient use containers of non-polyvinyl chloride.
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.
For the scope of research, the report offers a comprehensive analysis of the global thiochemical market.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2.60 Billion |
| Market Size 2024 | USD 2.67 Billion |
| Market Size 2032 | USD 3.30 Billion |
| Compound Annual Growth Rate (CAGR) | 2.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market 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 |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 Dynamics | Bolstering demand for sulfur derivatives led by the various applications across industries. |
Thiochemical Market Highlights:
Frequently Asked Questions (FAQ) :
The valuation of the global thiochemical market is projected to grow to USD 3.30 BN by 2032, registering 2.70% CAGR during the assessment period (2024-2032).
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.
Thiochemical Market is projected to be worth USD 2722.6 Million by 2030, registering a CAGR of 2.50% during the forecast period (2022 - 2030).
$2722.6 Million
2.50%
North America
2022 - 2030
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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