Polythiols Market Revenue and Growth Rate 2018 to 2028

Polythiols are compounds in a liquid state, which have several mercaptan functions. Polythiols have a wide range of applications in various industrial sectors. Polythiols help bring about toughness or hardness to the resin in which they are added in the presence of a catalyst. These polythiols have a very wide range of applications in paints, electrical, automotive and construction sectors as adhesives and sealants. Polythiols are also used as chain transfer agents in free radical polymerization in an aqueous medium. Polythiols are also used as functional polymers to alter the basic properties of a compound and increase the functional efficiency of the compound. Cosmetic industries use polythiols as corrosion inhibitors in order to minimise corrosion levels in the process. Along with corrosion inhibitors, cosmetic industries use polythiols in perm formulations, hair straighteners and depilatories as well as in rim cleaners or rust removers. Polythiols are added to epoxy resins, which are used in daily use products, to increase their strength. Polythiols are also used in aerospace applications as adhesives and sealants. When combined with conventional acrylic resins, polythiols can also be used in 3-D printing. Polythiols used in the manufacturing of optical films help improve the display quality and colour density of the screens of mobile phones and televisions.

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The growth of the electronics, electrical and construction sectors is expected to boost the polythiols market. The growth of the population is expected to enhance the consumer goods industry and this is likely to positively impact the polythiols market. Increase in the demand for polythiols by the automotive industry is also expected to boost the market. The growth of the construction industry due to industrialization and urbanization will also propel the polythiols. Moreover, strict laws for the mandatory sales of consumer goods in some areas is expected to boost the consumer goods industry, which is likely to propel the polythiols market.

However, the usage of alternative corrosion inhibitors in the cosmetic industry is expected to slow down the growth of the polythiols market. Laws that restrict the usage of certain chemicals or plastic products is likely to limit the chemical and plastics market, which is expected to restrain the growth of the polythiols market.

China is expected to be a prominent market for polythiols as it is among the fastest growing industrial sectors in the electronic, electrical, chemicals, plastics and building & construction industries. The polythiols market in the North American region is expected to register lucrative growth owing to the growing automotive, construction, paints and coatings industries in this region. On the other hand, the Latin American region is expected to register moderate growth in automotive and construction sector and the paints & coating market in the region is expected to be stagnant. Owing to these factors, the polythiols market in this region is expected to be sluggish during the forecast period. The European region, owing to stable growth in the automotive & construction sector as well as a growing consumer goods industry, is expected to register significant growth in the coming years. The polythiols market in Middle East and Africa is expected to grow owing to significant growth in the automotive and paints & coatings industries in this region. Substantial growth of the automotive sector and moderate growth in the construction sector of South East Asia is expected to boost the polythiol market in this region to a certain extent. The growing population in India has provided a platform for the growth of the automotive, construction, electrical and paint industries, which is expected to positively impact the growth of the polythiols market in the coming years. The growing automobile sector in Japan as well as expected growth in the country’s construction industry is expected to help boost the polythiols market in the region.

Various key players in the polythiols market are listed below: BASF SE, Bruno Bock Chemische Fabrik GmbH & Co. KG, TORAY Industries, Inc., ITW Polymers Sealants North America, Akzo Nobel N.V., Merck KGaA, Arkema Group, Seidler Chemical Co., Inc. etc.

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