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Thioacetic Acid Market to Record Ascending Growth by 2028

08-07-2018 09:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Factmr

Thioacetic Acid Market to Record Ascending Growth by 2028

Market Introduction

Thioacetic acid is a yellowish organic compound that is found in the liquid state, and has a pungent odour. Thioacetic acid is a highly flammable compound, which can catch fire at normal temperatures. Thioacetic acid is also toxic in nature, and should be handled by a professional with all safety equipment in place. Thioacetic acid can enter the body through inhalation, dermal adsorption, or ingestion. Due to its melting point at normal temperature, thioacetic acid should be stored at low temperatures only. The bioaccumulation potential of thioacetic acid is also very low. Thioacetic acid is manufactured and used in industries under very controlled conditions so as to minimize a hazard probability. Thioacetic acid is slightly soluble in water and can biodegrade readily. Thioacetic acid is also used in the polymer or rubber industry as a sulfur donor or chain transfer agent for thio compound preparation. Thioacetic acid is also used to separate heavy metals from solutions and in the production of cysteine. It can also be used as a flavoring agent in the food industry as per the Food and Agricultural Organization reports. Thioacetic acid is also used as an intermediate in the pharmaceutical industry. Ethanethioic acid, also known as thioacetic acid, is used as a food additive in some regions. The runoff of thioacetic acid in sewers may cause a fire or explosion, and if dissolved in water it causes water pollution.

Market Dynamics

The growth of the food processing and pharmaceutical industries involving the augmentation of production will help increase the market for thioacetic acid. The increase in the use of polymeric materials on a global basis will help the thioacetic acid market to grow at a sound rate. The development of new drugs and medicines with thioacetic acid base compounds as intermediates will also help the thioacetic acid market to grow. The increase in the demand for petrochemicals will lead to the growth of the polymer and rubber market, and thus, will increase the thioacetic acid market. Strict rules for water treatment have created the essence for industrial effluent treatment, thus, increasing the thioacetic acid market due to its application in heavy metal separation. The high cost of material and additional storage costs can be a barrier in the growth of thioacetic acid market. The hazardous chemical properties of thioacetic acid can be a factor for the stagnation of its market. The development of alternative additives in food can also lower the growth rate of the thioacetic acid market.

Market Segmentation

The thioacetic acid market can be segmented on the basis of industry and application:

By Industry:

Polymer Industry
Rubber Industry
Food Industry
Pharmaceutical Industry
By Application:

Heavy Metal Separation
Manufacture of Cysteine
Food Additives
Food Flavors
Chemical Intermediates
Regional Outlook

The Indian region, with a notable rise in pharmaceutical, rubber, and food processing industries, will be a great platform for the growth of the thioacetic acid market. China, being another region with high growth of polymer, as well as food processing industries, will help the thioacetic acid market. The South East Asian region, having a good growth in the rubber and pharmaceutical industries, will be helpful in the growth of the thioacetic acid market. The European region, with moderate growth in the food processing industry and good growth of the pharmaceutical industry, will help increase the market for thioacetic acid. The growing rubber industry in the South East Asian region will also be a great platform for the thioacetic acid market. The North American region, with a vast food processing sector, accompanied by pharmaceutical industries, will be a prominent market for thioacetic acid. Japan is emerging as a new industrial sector in the food processing and pharmaceutical industries in the last few years, and will have a scope of growth for the thioacetic acid market. Few Latin American regions have moderate growth in the food processing and rubber industries, which will be of great help for the thioacetic acid market to grow.

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List of Key Participants

Key global participants in the thioacetic acid market are:

Merck KGaA
MuseChem
J&K Scientific Ltd.
Tokyo Chemical Industry Co. Ltd.
Parachem Fine and Specialty Chemicals
ChemTik
Labnetwork
AN PharmaTech Co. Ltd.
Arkema Public Limited Company

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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