How big is the Thiochemical market?

The global thiochemical market was valued at USD 2447.48 million in 2018 and is projected to reach a value of USD 3699.52 million by 2026, registering a CAGR of 5.3 % during the forecast period, 2019–2026.

Thiochemical is referred as chemical, generally an ion, in which the oxygen atom is substituted by a sulphur ion. Almost all chemicals where the oxygen ion is replaced by the sulphur ion is known as Thiochemical and a reaction is called as thionation or thiation. Additionally, the activity of this market is based on animal nutrition, oil and gas, agrochemicals and speciality intermediates.
The quick growth of market applications for the desulfurization of gasoline and diesel along with its use in gas leakage finding is likely to boost the market growth. Moreover, some of the other Thiochemical such as thioglycolates and thiolactates are used as an active ingredient in cold wave formulations for hair perms and hair straighteners in cosmetic manufacturing. Thioglycolic acids are basic materials for the synthesis of PVC heat stabilizers, which is expected to propel the market growth during the forecasted period. Furthermore, increasing demand for the market in agrochemicals, food, plastic and chemical industry may boost the market growth.
The rising demand for oil & gas is expected to be one of the major drivers for the growth of Thiochemical market during the forecast period 2019-2026. Increasing awareness related to animal nutrition is considered to be another key driver for market growth. Additionally, increasing poultry consumption and growing demand from the consumers is likely to fuel the market growth during the forecasted period.

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The Major Players Covered in this Report: Arkema S.A. (France), Chevron Phillips (U.S.), Toray Fine Chemicals Co. (Japan), BASF (Germany), Sipcam Oxon (Italy), Dexing Zhongke Fine Chemical (China), Taizhou Sunny Chemical (China), and Langfang Jinshenghui Chemical (China), & More...

By Product Type, Mercaptans, Dimethyl disulfide (DMDS), Dimethyl sulfoxide (DMSO), Thioglycolic acid and esters, Thiourea, Others
By End-Users, Oil and Gas, Food and Agrochemicals, Chemicals, Plastics, Electrical and Electronics, Others

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Thiochemical in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Thiochemical market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Thiochemical and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Thiochemical. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Thiochemical Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Thiochemical Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Thiochemical Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

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