Companies Profiled in Thiourea Dioxide Market are Jinan Hui Feng Da Chemical Co. Ltd., Puyang Puzhong Chemical Co. Ltd. and Shijiazhuang Xinsheng Chemical Co. Ltd.
Key Players in the Global Thiourea Dioxide Market:-
Key players in the global thiourea dioxide market include Hongye Chemical Co. Ltd., Puyang Hexing Co. Ltd., Nanle Jione Chemical Co. Ltd., Qingzhou Guangda Chemicals Co Ltd., Weifang Shenghe Zhuji Co. Ltd., Changyi Haosen Biotechnology Co. Ltd., Jinan Hui Feng Da Chemical Co. Ltd., Puyang Puzhong Chemical Co. Ltd., Shijiazhuang Xinsheng Chemical Co. Ltd., Dasteck Chemicals Co. Ltd., Weifang Ruimin Chemistry Co. Ltd., and J N Chemical.
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Asia Pacific is expected to dominate the global Thiourea dioxide market during the forecast period. This is due to large number of textile and pulp & paper industries and its consumptions in emerging economies such as China and India. For instance, according to World Trade Organization, India and China combined, contributed 48% in global textile export in 2017, which will keep increasing in the coming decade.
According to World Health Organization, China is the major producer of Thiourea dioxide with over 40% share in global production and it is set to be the global leader in production in the forecast period. This is attributed to the growing textile and paper & pulp industries in the Asian countries like Japan and India which will facilitate the growth due to proximity to major consuming nation.
Major driver for growth of the thiourea dioxide market is its superiority over sodium dithionite like less quantity required and more environmental friendly for textile and woolen dyeing applications. Thiourea dioxide maintains better chemical stability and pollutes less compared to other decolorizing agent such as CW-08, SHQN, and QTRY.
Growth in the textile industry, globally, is projected to boost demand for thiourea dioxide in the market. According to Federation of Indian Chambers of Commerce and Industries (FICCI), the global textile industry is projected to reach US$ 1600 billion by 2026, with CAGR of 6.3%.
Thiourea dioxide acts as a decolorizing agent in paper & pulp industry and growing paper industry is projected to propel demand for thiourea dioxide in the near future. According to PG Paper’s The Global Paper Industry Today 2018, global production of paper was around 390 million tons in 2016, and it is expected to increase up to 490 million tons by 2020.
The excessive reduction potential of Thiourea dioxide in case of dyeing vat dyes is the main restraining factor that limits its market. In dyeing vat dyes, an anti-reducing agent such as perborate or hydrogen peroxide is necessary for preventing excessive reduction of indanthrone-based dyes which will make this reagent more expensive and capital intensive.
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On the basis of product type, the global dioxide market is segmented into:
• Ordinary grade
• High purity grade
• Ultra purity grade
On the basis of end-use industry, the global thiourea dioxide market is segmented into:
• Paper & pulp
• Leather processing
On the basis of region, the global thiourea dioxide market is segmented into:
• North America
◦ South America
◦ Rest of South America
• Asia Pacific
◦ South Korea
◦ Rest of others
• Middle East
◦ Rest of Middle East
◦ Rest of the Europe
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