According to a market report by Lucintel, the future of the thiochemical market looks promising with opportunities in the transportation, personal care & cosmetic, electrical & electronic, animal nutrition, oil & gas, food & beverage, chemical & pharmaceutical, and agrochemical industries. The global thiochemical market is expected to reach an estimated $2.6 billion by 2028 with a CAGR of 2.8% from 2023 to 2028. The major drivers for this market are growing penetration of thiochemical in the synthesis of methionine and rising demand for natural gas in the industrial and domestic end use industries along with increasing refining capacity of oil and gas industry globally.
In this market, mercaptan, dimethyl sulfoxide (DMSO), dimethyl disulfide (DMDS), thioglycolic acid and ester, and thiourea are the major product type segments. Lucintel forecasts that mercaptan will remain the largest product type segment over the forecast period due to its increasing demand from end use industries, such as animal nutrition, oil and gas, and polymerization.
Within this market, food & beverages is expected to remain the largest end use industry segment due to the increasing demand for animal feed so as to improve poultry health and enhance the production of various agricultural and animal-based products.
North America will remain the largest region due to the increasing number of oil and gas fields in the region.
Arkema Group, Chevron Phillips Chemical, Daicel Corporation, Dr. Spiess Chemische Fabrik GmbH, HEBEI YANUO Bioscience, and Merck KGaA are the major suppliers in the global thiochemical market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thiochemical market by product type, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Thiochemical Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global thiochemical market by product type, end use industry, and region, as follows:
Thiochemical Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Mercaptan
Dimethyl Sulfoxide (DMSO)
Dimethyl Disulfide (DMDS)
Thioglycolic Acid and Ester
Thiourea
Others.
Thiochemical Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Transportation
Personal Care & Cosmetics
Electrical & Electronics
Animal Nutrition Industry
Oil & Gas
Food & Beverages
Chemical & Pharmaceutical
Agrochemicals
Others
Thiochemical Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global thiochemical market by product type (mercaptan, dimethyl sulfoxide (DMSO), dimethyl disulfide (DMDS), thioglycolic acid and ester, thiourea and others), end use industry (transportation, personal care & cosmetics, electrical & electronics, animal nutrition industry, oil & gas, food & beverages, chemical & pharmaceutical, agrochemicals and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?