According to the recent study the thiochemical market is projected to reach an estimated $2.6 billion by 2028 from $2.2 billion in 2023, at a CAGR of 2.8% from 2023 to 2028. Growth in this market is primarily driven by growing penetration of thiochemical in the synthesis of methionine and rising demand for natural gas in the industrial and domestic end use industries along with increasing refining capacity of oil and gas industry globally.

A more than 150 – page report is developed to understand trends, opportunities and forecast in thiochemical market by product type (mercaptan, dimethyl sulfoxide (DMSO), dimethyl disulfide (DMDS), thioglycolic acid and ester, thiourea and others), end use industry (transportation, personal care & cosmetic, electrical & electronics, animal nutrition industry, oil & gas, food & beverages, chemical & pharmaceutical, agrochemicals and others), and region.

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“Mercaptan market is expected to remain the largest segment during the forecast period.”

Based on product type, the thiochemical market is segmented into mercaptan, dimethyl sulfoxide (DMSO), dimethyl disulfide (DMDS), thioglycolic acid and ester, thiourea and others. Lucintel forecasts that the mercaptan market is expected to remain the largest segment due to its increasing demand in end use industries, such as animal nutrition, oil and gas, and polymerization.

“Within the thiochemical market, the food & beverages segment is expected to remain the largest end use industry”

Based on end use industry the food & beverages segment is expected to witness the highest growth over the forecast period due to the increasing demand for animal feed so as to improve poultry health and enhance the production of various agricultural and animal-based products.

“North America will dominate the thiochemical market in near future”

North America will remain the largest region due to the increasing number of oil and gas fields in the region.

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Major players of thiochemical market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Arkema Group, Chevron Phillips Chemical, Daicel Corporation, Dr. Spiess Chemische Fabrik GmbH, HEBEI YANUO Bioscience, and Merck KGaA are among the major thiochemical providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/thiochemical-market.aspx or helpdesk@lucintel.com