Report Code: CMI48036

Published Date: May 2024

Pages: 320+

Category: Chemicals And Materials

Report Snapshot

CAGR: 2.5%
2.3B
2023
2.4B
2024
3.5B
2033

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Solvay S.A.
  • Lanxess AG
  • Evonik Industries AG
  • I. du Pont de Nemours and Company
  • Eastman Chemical Company
  • Others

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Reports Description

Global Thiochemicals Market was valued at USD 2.4 Billion in 2024 and is expected to reach USD 3.5 Billion by 2033, at a CAGR of 2.5% during the forecast period 2024 – 2033.

Thiochemicals refer to a class of chemical substances that includes sulphur atoms in their molecular form. They are used in many different sectors for a variety of purposes, such as additives in the manufacturing of polymers and specialized chemicals, medicines, agricultural products, and oil refining.

Thiochemicals Market: Growth Factors

Increased demand for animal feed

The market for biochemicals has been significantly fuelled by the sharp increase in demand for animal feed. High-quality animal feed is necessary as livestock output rises worldwide to satisfy growing food demands, especially in emerging nations.

Methionine and cysteine are two examples of chemicals that are essential for improving the nutritional value of animal feed and supporting the healthy growth and development of cattle. For instance, methionine is an important amino acid that is required for the production of proteins and other metabolic processes in mammals.

Demand for the chemicals in feed additives rises as emphasis shifts to maximizing animal health and feed efficiency. A rising number of livestock farmers are becoming aware of the advantages of adding thiochemicals to animals’ meals to improve feed conversion rates and ensure optimal animal performance, thereby driving the expansion of the thiochemicals market.

For instance, according to the 2023 Altech Agri-Food Outlook, worldwide feed output decreased by less than half a percent (0.42%) from 2021 predictions to 1.27 billion metric tons (BMT) in 2022, despite major macroeconomic issues that impacted the whole supply chain.

Rising demand from oil and gas industry

The market for thiochemicals is driven by the rising demand from the oil and gas sector since these chemicals are essential to many important operations. Thiochemicals, such as fatty acids, sulfuric acid, and mercaptans, are essential in several applications in the oil and gas industry.

They are widely used in the refining process to eliminate contaminants from crude oil and natural gas, such as sulphur compounds, guaranteeing adherence to strict environmental laws and enhancing the quality of the final product.

Furthermore, thiochemicals are used in the manufacturing of chemicals for gas treatment, corrosion inhibitors, and drilling fluids all necessary for the effective extraction, manufacturing, and shipping of oil and gas resources. The oil and gas industry’s requirement for thiochemicals is anticipated to grow as the world’s energy consumption rises, especially in emerging nations driving growth in the thiochemicals market.

At its Kerteh facility in Malaysia, Arkema has announced plans to quadruple its methyl mercaptan manufacturing capacity. This will help to maintain Asia’s robust growth in the petrochemical, refining, and animal feed sectors and solidify its position as the global leader in high-value sulfur derivatives.

Thiochemicals Market: Restraints

Concerns about toxic chemicals

The market for thiochemicals is heavily impacted by worries about harmful chemicals, which affect both manufacturing and consumption. Sulphur-containing compounds, or thiochemicals, are extensively utilized in a variety of sectors, including chemicals, oil & gas, medicines, and agriculture.

However, there are health and environmental risks associated with the use of hazardous chemicals in the thiochemical manufacturing process. The production of thiochemicals can generate hazardous byproducts that might be harmful to the environment or human health.

Hazardous compounds like hydrogen sulphide, which is poisonous and can lead to respiratory issues as well as environmental pollution, can be produced via processes like sulphide oxidation. Manufacturers of thiochemicals face increased compliance expenses as a result of regulatory authorities enforcing stricter rules on the use and disposal of hazardous chemicals.

Furthermore, the need for safer and more environmentally friendly alternatives is driven by consumer knowledge of the negative impacts of harmful substances. Manufacturers of thiochemicals are compelled by the shift in customer preferences toward sustainable products to make investments in cleaner manufacturing technology and create non-toxic substitutes.

In general, worries about harmful substances affect thiochemicals’ reputation and adoption in the market, but they also spur innovation in the direction of safer and more environmentally friendly alternatives, changing the dynamics of the thiochemicals industry.

Thiochemicals Market: Opportunities

Emerging demand from cosmetic industry

The market for thiochemicals is expanding due to rising demand from the cosmetics sector. Thiochemicals, such as thioglycolic acids and their compounds, are essential ingredients in hair care items like highlights, relaxants, and hair straightening treatments.

These substances make it easier for hair bonds to dissolve and reform, which permits the intended alterations in hair texture. In addition, because thiochemicals effectively break down protein structures, they are employed in skincare cosmetic formulations, especially in chemical peels and depilatory creams.

The need for thiochemicals is anticipated to increase as the cosmetics sector innovates and launches new goods to satisfy changing customer demands for skincare and hair care products. This pattern emphasizes how crucial thiochemicals are to meet the effectiveness and performance standards of contemporary cosmetic formulations, driving their market growth.

Global Thiochemicals Market 2024–2033 (By Type)

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Thiochemicals Market: Segmentation Analysis

The global Thiochemicals market is segmented by type, application and region.  Based on type, the market is classified into mercaptan, dimethyl sulfoxide, dimethyl disulfide, thioglycolic acid and ester, thiourea and others.

Mercaptan dominated the market in 2023 with a market share of 35.8% and is expected to keep its dominance during the forecast period 2024-2033.  Mercaptans, often referred to as thiol compounds, are essential for propelling the thiochemicals industry because of their extensive industrial applicability.

As they are sulfur-containing organic molecules, mercaptans have special chemical characteristics that make them useful in a variety of industries. Mercaptans are used as chemical intermediates in the petrochemical sector to produce a range of goods, such as plastics, medications, and insecticides.

Furthermore, because of their strong smell, they are perfect for odorizing natural gas, which promotes safety by making gas leaks easier to find. Mercaptans are also needed for the synthesis of compounds used in water treatment, rubber additives, and metal processing. Due to their adaptability and significance in a variety of sectors, thiochemicals are in high demand, which has led to a substantial increase in the global thiochemicals market.

Based on application, the market is classified into animal nutrition, oil and gas, polymers and chemicals, food and agrochemicals, automotive and transportation, consumer goods, plastics and others. Animal nutrition dominated the market in 2023 with a market share of 23.5% and is expected to keep its dominance during the forecast period 2024-2033.

The market for thiochemicals is mostly driven by animal nutrition since sulphur-containing compounds are vital to the wellness and efficiency of animals. Methionine and cysteine, two essential amino acids needed for protein synthesis and general metabolic functions in mammals, are examples of thiochemicals. For instance, methionine is an essential amino acid that needs to be obtained from food since mammals are unable to synthesize.

It promotes immunological function, aids in the production of proteins, and is involved in several physiological functions. Furthermore, thiochemicals are essential parts of antioxidants, which lessen oxidative stress and enhance animal welfare. Global demand for premium animal products is being driven by the need for optimal animal nutrition to promote growth, reproduction, and general health.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 2.4 Billion
Projected Market Size in 2033 USD 3.5 Billion
Market Size in 2023 USD 2.3 Billion
CAGR Growth Rate 2.5% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Thiochemicals Market: Regional Analysis

By region, Thiochemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global Thiochemicals market in 2023 with a market share of 42.1% and is expected to keep its dominance during the forecast period 2024-2033.

North America is a major player in the thiochemicals market due to several important factors. Thiochemicals are needed for procedures like gas purification and sulfur recovery, which are made possible by the region’s thriving industrial sector, especially in the oil and gas industry.

Furthermore, thiochemicals are used in many sectors to reduce emissions and control pollutants because of the strict environmental requirements in North America. Furthermore, the area’s potent R&D resources encourage thiochemical application innovation, boosting product effectiveness and opening up new market niches.

Moreover, North America’s vast distribution networks and well-established infrastructure make it easier for thiochemicals to be supplied and distributed effectively throughout the continent.

Furthermore, encouraging government laws and policies concerning chemical production and environmental protection support the expansion of the thiochemicals market in North America. The adoption of ecologically friendly thiochemical solutions is driven by regulatory compliance and sustainability objectives, which further stimulate market expansion.

North America is a major driver of global market dynamics because of its well-established industrial base, broad application sectors, emphasis on innovation, and supportive regulatory environment. These factors all work together to promote the expansion of the thiochemicals market in the area.

Global Thiochemicals Market 2024–2033 (By Billion)

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Thiochemicals Market: Recent Developments

  • In March 2022, the East Coast Economic Region (ECER) built the first globally incorporated bio-methionine and thiochemicals plant an important undertaking that is expected to establish Terengganu as an incubator of new technologies and a regional leader in biorefinery.
  • In June 2020, Arkema announced a partnership with Novus International, Inc., to increase its production capacities at Arkema’s Beaumont Thiochemicals site in the U.S.
  • In October 2023, Arkema expanded biofuel additives production in Texas. Dimethyl sulfide (DMS), methyl mercaptan, ethyl mercaptan, and methyl mercapto-propionaldehyde (MMP) are all produced at this factory.

List of the prominent players in the Thiochemicals Market:

  • Solvay S.A.
  • Lanxess AG
  • Evonik Industries AG
  • I. du Pont de Nemours and Company
  • Eastman Chemical Company
  • Jubilant Life Sciences Limited
  • Chevron Corporation
  • Merck KGaA
  • Sumitomo Chemical Co. Ltd.
  • Mitsui Chemicals Inc.
  • Orica Limited
  • Tokyo Chemical Industry Co. Ltd.
  • Chevron Phillips Chemical Company
  • Akzo Nobel N.V.
  • BASF SE
  • Toray Fine Chemicals Co. Ltd.
  • Arkema S.A.
  • Toray Industries Inc.
  • Thermo Fisher Scientific Inc.
  • R. Grace & Co.
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Thiochemicals Market is segmented as follows:

By Type

  • Mercaptan
  • Dimethyl Disulfide
  • Thioglycolic Acid and Ester
  • Thiourea
  • Others

By Application

  • Animal Nutrition
  • Oil and Gas
  • Polymers and Chemicals
  • Food and Agrochemicals
  • Automotive and Transportation
  • Consumer Goods
  • Plastics
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Thiochemicals Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Thiochemicals Market: snapshot
  • Chapter 3. Global Thiochemicals Market – Industry Analysis
    • 3.1 Thiochemicals Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increased demand for animal feed
      • 3.2.2 Rising demand from Oil and gas industry
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. Global Thiochemicals Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Thiochemicals Market: company market share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Thiochemicals Market – Type Analysis
    • 5.1 Global Thiochemicals Market Overview: By Type
      • 5.1.1 Global Thiochemicals Market Share, By Type, 2023 and 2033
    • 5.2 Mercaptan
      • 5.2.1 Global Thiochemicals Market by Mercaptan, 2024 – 2033 (USD Billion)
    • 5.3 Dimethyl Disulfide
      • 5.3.1 Global Thiochemicals Market by Dimethyl Disulfide, 2024 – 2033 (USD Billion)
    • 5.4 Thioglycolic Acid and Ester
      • 5.4.1 Global Thiochemicals Market by Thioglycolic Acid and Ester, 2024 – 2033 (USD Billion)
    • 5.5 Thiourea
      • 5.5.1 Global Thiochemicals Market by Thiourea, 2024 – 2033 (USD Billion)
    • 5.6 Others
      • 5.6.1 Global Thiochemicals Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Thiochemicals Market – Application Analysis
    • 6.1 Global Thiochemicals Market Overview: By Application
      • 6.1.1 Global Thiochemicals Market Share, By Application, 2023 and 2033
    • 6.2 Animal Nutrition
      • 6.2.1 Global Thiochemicals Market by Animal Nutrition, 2024 – 2033 (USD Billion)
    • 6.3 Oil and Gas
      • 6.3.1 Global Thiochemicals Market by Oil and Gas, 2024 – 2033 (USD Billion)
    • 6.4 Polymers and Chemicals
      • 6.4.1 Global Thiochemicals Market by Polymers and Chemicals, 2024 – 2033 (USD Billion)
    • 6.5 Food and Agrochemicals
      • 6.5.1 Global Thiochemicals Market by Food and Agrochemicals, 2024 – 2033 (USD Billion)
    • 6.6 Automotive and Transportation
      • 6.6.1 Global Thiochemicals Market by Automotive and Transportation, 2024 – 2033 (USD Billion)
    • 6.7 Consumer Goods
      • 6.7.1 Global Thiochemicals Market by Consumer Goods, 2024 – 2033 (USD Billion)
    • 6.8 Plastics
      • 6.8.1 Global Thiochemicals Market by Plastics, 2024 – 2033 (USD Billion)
    • 6.9 Others
      • 6.9.1 Global Thiochemicals Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Thiochemicals Market – Regional Analysis
    • 7.1 Global Thiochemicals Market Regional Overview
    • 7.2 Global Thiochemicals Market Share, by Region, 2023 & 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Thiochemicals Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America Thiochemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America Thiochemicals Market, by Type, 2024 – 2033
      • 7.4.1 North America Thiochemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.5 North America Thiochemicals Market, by Application, 2024 – 2033
      • 7.5.1 North America Thiochemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Thiochemicals Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe Thiochemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe Thiochemicals Market, by Type, 2024 – 2033
      • 7.7.1 Europe Thiochemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.8 Europe Thiochemicals Market, by Application, 2024 – 2033
      • 7.8.1 Europe Thiochemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Thiochemicals Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific Thiochemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific Thiochemicals Market, by Type, 2024 – 2033
      • 7.10.1 Asia Pacific Thiochemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific Thiochemicals Market, by Application, 2024 – 2033
      • 7.11.1 Asia Pacific Thiochemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Thiochemicals Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America Thiochemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America Thiochemicals Market, by Type, 2024 – 2033
      • 7.13.1 Latin America Thiochemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.14 Latin America Thiochemicals Market, by Application, 2024 – 2033
      • 7.14.1 Latin America Thiochemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Thiochemicals Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Thiochemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa Thiochemicals Market, by Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Thiochemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa Thiochemicals Market, by Application, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Thiochemicals Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Solvay S.A.
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Lanxess AG
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Evonik Industries AG
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 E. I. du Pont de Nemours and Company
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Eastman Chemical Company
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Jubilant Life Sciences Limited
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Chevron Corporation
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Merck KGaA
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Sumitomo Chemical Co. Ltd.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Mitsui Chemicals Inc.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Orica Limited
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Tokyo Chemical Industry Co. Ltd.
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Chevron Phillips Chemical Company
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 Akzo Nobel N.V.
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 BASF SE
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Toray Fine Chemicals Co. Ltd.
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Arkema S.A.
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 Toray Industries Inc.
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Thermo Fisher Scientific Inc.
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 W. R. Grace & Co.
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures No 1 to 27

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Solvay S.A.
  • Lanxess AG
  • Evonik Industries AG
  • I. du Pont de Nemours and Company
  • Eastman Chemical Company
  • Jubilant Life Sciences Limited
  • Chevron Corporation
  • Merck KGaA
  • Sumitomo Chemical Co. Ltd.
  • Mitsui Chemicals Inc.
  • Orica Limited
  • Tokyo Chemical Industry Co. Ltd.
  • Chevron Phillips Chemical Company
  • Akzo Nobel N.V.
  • BASF SE
  • Toray Fine Chemicals Co. Ltd.
  • Arkema S.A.
  • Toray Industries Inc.
  • Thermo Fisher Scientific Inc.
  • R. Grace & Co.
  • Others

FAQs

The major driver for the Thiochemicals market is increased demand for animal feed and rising demand from oil and gas industry.

The “Animal Nutrition” had the largest share in the global market for Thiochemicals.

The “Mercaptan” category dominated the market in 2023.

The key players in the market are Solvay S.A., Lanxess AG, Evonik Industries AG, E. I. du Pont de Nemours and Company, Eastman Chemical Company, Jubilant Life Sciences Limited, Chevron Corporation, Merck KGaA, Sumitomo Chemical Co. Ltd., Mitsui Chemicals Inc., Orica Limited, Tokyo Chemical Industry Co. Ltd., Chevron Phillips Chemical Company, Akzo Nobel N.V., BASF SE, Toray Fine Chemicals Co. Ltd., Arkema S.A., Toray Industries Inc., Thermo Fisher Scientific Inc., W. R. Grace & Co., Others.

“North America” had the largest share in the Thiochemicals Market.

The global market is projected to grow at a CAGR of 2.5% during the forecast period, 2024-2033.

The Thiochemicals Market size was valued at USD 2.4 Billion in 2024.

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