Global Thiochemicals Market to be Dominated by Animal Nutrition Segment Through 2028
Global Thiochemicals Market is increasing owning to the
demand from Oil and Gas Industry
According to TechSci Research report, “Thiochemicals Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F ", The Global Thiochemicals Market
is anticipated to increase at an impressive rate in the forecast period 2024-2028.
Global Thiochemicals market is expected to grow impressively through 2028, due
to the growing demand from animal nutrition and the oil and gas industries. Thiochemicals,
or the thio-compounds, are molecules in which the Sulphur molecule is replaced
by the oxygen molecule. Such processes, in which the Sulphur ion is substituted
for the oxygen ion, are carried out by thionation. The production of
thiochemicals such as methyl mercaptan, which acts as precursors to the amino
acids utilised in animal feeding products, requires Sulphur as a crucial
component. The compounds are mostly employed in polymerization operations as
chain transfer agents.
The market for thiochemicals is largely
driven by two factors: the expansion of the world's oil and gas refining
capacity and the increased demand for natural gas in home and industrial uses.
As a result, thiochemicals like Mercaptan and Dimethyl Disulphide are in higher
demand within the chemical sector. It consequently stimulates the thiochemicals
business. The market will also grow because of the rising demand for items used
in animal nutrition, many of which are made using thiochemicals. Increasing
thiochemical demand in the food, agrochemicals, plastic, and chemical sectors,
among others, will also increase demand throughout the forecast period.
Thiochemicals such as thiamine and
penicillin are used in the pharmaceutical industry for the production of drugs.
As the pharmaceutical industry continues to grow, the demand for thiochemicals
is expected to increase as well. Thiochemicals such as sodium metabisulfite are
used as food additives to preserve the color and flavor of food products. With
the growing demand for processed food products around the world, the demand for
thiochemicals as food additives is also expected to increase.
Methyl mercaptan, which is used to
create methionine, is the most common form of thiochemical utilised in animal
feeding. Methionine is largely utilised in livestock and poultry feed as a
dietary supplement. Thus, it is anticipated that increased consumer demand for
meat, particularly poultry, will drive the market for thiochemicals. Major
end-use sectors are experiencing an increase in mercaptan demand, which will increase
the thiochemicals industry's growth prospects in the next years.
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Global Thiochemicals Market
is segmented based on Product Type and Application.
Based on Type, the market is divided into Mercaptan,
Dimethyl Sulfoxide (DMSO), Dimethyl disulfide (DMDS), Thioglycolic Acid and
Ester, Thiourea, and Others. The Mercaptan segment is expected to hold the
largest market share in the forecast period.
Based on Application, the market is
divided into Animal Nutrition, Oil and Gas, Polymers and Chemicals, Food and
Agrochemicals, Automotive and Transportation, and Others. The growing awareness
regarding dietary supplements is the primary reason driving the animal
nutrition segment's growth.
Major companies operating in Global Thiochemicals
Market are:
- Arkema SA
- Chevron Phillips Chemical Co. LLC
- BASF SE
- Bruno Bock GmbH
- Daicel Corporation
- Dr. Spiess Chemische Fabrik GmbH
- TCI Chemicals (India) Pvt. Ltd
- Toray Fine Chemicals Co. Ltd.
- Merck KGaA
- Hohhot Guangxin Chemical Trade Co. Ltd.,
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Some of the major reasons primarily
fueling the market expansion are the increasing requirement for animal feed and
to promote poultry health and increased production of various agricultural and
animal-based goods, including eggs, milk, and chicken. Methionine is frequently
formulated using thiochemicals and then added to feeds as a nutritional
supplement. This is further bolstered by the increasing intake of animal flesh
worldwide because of greater health awareness and knowledge of their numerous
nutritional benefits." said Mr. Karan Chechi, Research Director with
TechSci research, a research based global management consulting firm.
“Global Thiochemicals
Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028F, Segmented By
Type (Mercaptan, Dimethyl Sulfoxide (DMSO), Dimethyl disulfide (DMDS), Thioglycolic
Acid and Ester, Thiourea, Others), By Application (Animal Nutrition, Oil and
Gas, Polymers and Chemicals, Food and Agrochemicals, Automotive and
Transportation, Others), By Company (2022), By Region, Competition Forecast and
Opportunities, 2028F has evaluated the future growth potential of Global Thiochemicals
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Thiochemicals Market.
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