Thiourea Market Excessive Growth Opportunities Estimated to be Experienced 2017-2025

Thiourea, which also known as thiocarbamide, is a white crystalline organic compound that consists of carbon, sulfur, nitrogen and hydrogen. It is available naturally and synthetic. Thiourea is soluble in water, ethanol, and ammonium thiocyanate. It is insoluble in non-polar solvents. Thiourea exhibits anti-fungal, anti-viral, and radical scavenger properties. Thiourea is called as planar molecule. Thiourea has unusual property in which it can change to ammonium thiocyanate when it is heated above 130°C. After cooling, the same ammonium salt converts back to thiourea. Thiourea also acts as versatile reagent in organic synthesis. Earlier, thiourea was used as a toning agent in photography, dry cleaning agent. Thiourea is considered to be structurally similar to urea, only oxygen atom which is present in urea is replaced by sulfur atom in thiourea. Thus, properties of urea and thiourea are altogether different because of relative electro negativities of oxygen and sulfur. Based on property, thiourea can be used in industries such as agriculture, metallurgy, pharmaceutical, and chemical. It is used in the production of flame retardant resins, vulcanization accelerators, and as auxiliary agent in light sensitive photocopy paper. In the metal industry, thiourea is used in silver polishing and gold leaching by selectively oxidizing thiourea. As a rich sulfur source, thiourea is also employed in the manufacture of semiconductor nanoparticles. Thiourea is not recommended for usage in food. It is toxic and heavy exposure to the compound can cause adverse effects on human health. Upon heating to decomposition, thiourea emits nitrogen oxides and sulfur oxides fumes which are toxic. Increase in investment in agriculture and pharmaceutical industries across the globe is the major factor driving the demand for thiourea. However, toxicity related to thiourea has hampered the commercial usage of this compound. This is a key factor restraining the thiourea market.

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Based on end-user industry, the thiourea market can be segmented into textile, pharmaceuticals, agriculture, mining, rubber, chemical, and paper. Agriculture is likely to remain the major end-user industry segment of the thiourea market during the forecast period. Thiourea is used as an effective pesticide in crop protection. It helps boost crop productivity in the field. Use of thiourea in the pharmaceutical industry is also expected to increase significantly between 2017 and 2025. In the pharmaceutical industry, thiourea is employed as an intermediate for making thiazole and drugs inhibiting for thyroid disease. The pharmaceutical segment is anticipated to exhibit significant CAGR during the forecast period.

In terms of region, Asia Pacific led the thiourea market in 2016. It is likely to remain the dominant region during the forecast period.Strong government focus in increasing productivity of crops has contributed the significant share in thiourea market. Rise in investment in research & development activities to manufacture different drugs, especially in India and China, is also estimated to fuel the demand for thiourea during the forecast period. Asia Pacific is also projected to exhibit significant share during the forecast period. After Asia Pacific, North America is likely to constitute key share of the thiourea market. Presence of leading pharmaceutical companies in the U.S. and growth in paper production, where thiourea is used in copy and light sensitive photocopy paper, are estimated to drive the market.

Major players operating in thiourea market include Sanshin Chemical Industry Limited, Zhejiang Rayfull Chemicals Co.,Ltd., Shandong Efirm Biochemistry and Environmental Protection Co.,Ltd., Yantai Dasteck Chemicals Co.Ltd., and Guizhou Hongkai Chemical.

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