Thiochemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Mercaptan, Dimethyl Sulfoxide, Thioglycolic Acid and Ester, and Others), End-user Industry (Animal Nutrition, Oil & Gas, Polymers & Chemicals, and Others), and Geography (Asia-Pacific, North America, Europe, and Rest of the World)

Market Snapshot

Niobium Market - Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

The global thiochemicals market is expected to witness a CAGR of over 5% during the forecast period. Rising use of thiochemicals in methionine production, which serves as a major nutrient for the poultry industry, is majorly expected to drive the market growth.

  • The high toxicity of thiochemicals, such as isopropyl mercaptan and tetrahydrothiophene, which are flammable and extremely toxic to aquatic fauna, is likely to hinder the growth of the market.
  • However, increasing market penetration in African economies, like South Africa and Kenya, is expected to provide substantial opportunity for the thiochemicals market in emerging economies.

Scope of the Report

The global thiochemicals market includes:  

Type
Mercaptan
Dimethyl Disulfide (DMDS)
Dimethyl Sulfoxide (DMSO)
Thioglycolic Acid and Ester
Others
End-user Industry
Animal Nutrition
Oil & Gas
Polymers & Chemicals
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
Rest of the World

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Key Market Trends

Growing Usage in Animal Nutrition

  • In the animal nutrition end-use, thiochemicals are majorly used in the form of methyl mercaptan, which is used in the production of methionine. Methionine is mainly used as a dietary supplement for poultry and animal feed. Therefore, the increasing demand for poultry and other meat is expected to drive the thiochemicals market.
  • Poultry consumption is expected to increase in the Asia-Pacific region, like India and China, in response to an expanding population, which is expected to intensify the demand for poultry meat and eggs, resulting in an increase in consumption for thiochemicals in the industry.
  • The industry has been witnessing an increase in the production and consumption of beef and veal, pork, and chicken meat since the past few years. This has resulted in an increase in the demand for animal feed as well, driving industry growth.
  • Increasing production of feed across Europe, Asia, Middle East & Africa, North America, and Latin America is predicted to witness significant growth, which, in turn, is expected to augment the product demand in the sector.
Thiochemicals Market Volume Share

China to Dominate the Asia-Pacific Regional Market

  • China’s thiochemicals demand for methionine production is rising faster than the global average, due to the rising demand for meat products from China’s wealthy middle class. The enormous growth can be explained by the surging demand for animal feed used in the livestock and farming industries. Since the population almost doubled to 1.4 billion people, the country’s demand for meat and animal feed has exploded.
  • DL-methionine is one kind of safe feed additives and belongs to the key area supported by China’s Key High-tech Industry and Industrial Structure Adjustment Guidelines.
  • Additionally, the 12th five-year development plan in the feed industry clearly pointed out that China should develop feed products with excellent quality, safety, high-efficiency, as well as new feed additives; this contributes to enhance the capacity of DL-methionine, strengthen the international competitiveness of amino acid in feed grade, and reduce the production cost.
  • Methionine manufacturers are expanding production in the country by setting up new plants. This helps the country’s animal feed industrial chain to extend upstream, and greatly boost the development of the animal feed processing and breeding industries.
  • Additionally, growing refining activities in the country and the growing demand for natural gas are expected to significantly support the market growth.
  • Such positive factors are expected to drive the market for thiochemicals through the forecast period.
Niobium Market Regional Trends

Competitive Landscape

The market studied is highly consolidated, where only two players, Arkema Group and Chevron Phillips Chemical Company, hold a lion’s share of the market. Some of the other major players operating in the market studied include Hebei Yanuo Bioscience Co. Ltd and Daicel Corporation amongst others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand in Animal Nutrition

      2. 4.1.2 Growing Oil and Gas Industry

    2. 4.2 Restraint

      1. 4.2.1 High Toxicity of Thiochemicals

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Mercaptan

        1. 5.1.1.1 Dimethyl Disulfide (DMDS)

      2. 5.1.2 Dimethyl Sulfoxide (DMSO)

      3. 5.1.3 Thioglycolic Acid and Ester

      4. 5.1.4 Others

    2. 5.2 End-user Industry

      1. 5.2.1 Animal Nutrition

      2. 5.2.2 Oil & Gas

      3. 5.2.3 Polymers & Chemicals

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema Group

      2. 6.4.2 Bruno Bock Chemische Fabrik GmbH & Co. KG

      3. 6.4.3 Chevron Phillips Chemical Company

      4. 6.4.4 Daicel Corporation

      5. 6.4.5 Dr. Spiess Chemische Fabrik GmbH

      6. 6.4.6 HEBEI YANUO Bioscience Co. Ltd

      7. 6.4.7 Hohhot Guangxin Chemical Trade Co. Ltd

      8. 6.4.8 Merck KGaA

      9. 6.4.9 Taizhou Sunny Chemical Co. Ltd

      10. 6.4.10 TCI Chemicals

      11. 6.4.11 Toray Fine Chemicals Co. Ltd

      12. 6.4.12 Zhongke Fine Chemical Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Penetration in African Economies, like South Africa and Kenya

**Subject to Availability

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Frequently Asked Questions

The Thiochemicals Market market is studied from 2016 - 2026.

The Thiochemicals Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Arkema Group, Chevron Phillips Chemical Company, Hebei Yanuo Bioscience Co. Ltd, Daicel Corporation are the major companies operating in Thiochemicals Market.

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