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Thiochemical Market Share

ID: MRFR//4781-CR | 158 Pages | Author: Anshula Mandaokar| July 2018

In the Thiochemical market, companies employ various strategies to position themselves effectively and gain a competitive edge.

Product Portfolio Diversification: Companies aim to differentiate themselves by offering a diverse range of thiochemical products tailored to various industries and applications. By expanding their product portfolio to include sulfur derivatives such as thioacids, thiols, and thioesters, companies can cater to the specific needs of different sectors such as agrochemicals, oil & gas, pharmaceuticals, and personal care. This diversification strategy enables companies to capture a larger market share by addressing a broader range of customer requirements.

Vertical Integration: Vertical integration allows companies to control the entire supply chain, from raw material sourcing to product manufacturing and distribution. By vertically integrating backward into sulfur production and forward into downstream value-added products, companies can optimize efficiency, reduce costs, and ensure a consistent supply of high-quality thiochemicals. This strategic approach enhances market share positioning by providing greater control over product quality, pricing, and supply chain management.

Geographic Expansion: Companies seek to expand their market share by entering new geographic markets or strengthening their presence in existing regions. This may involve establishing new production facilities, distribution networks, or strategic partnerships with local players. By tapping into new markets with high growth potential, companies can increase their customer base and market reach, thereby enhancing their overall market share.

Focus on High-Growth Industries: Companies focus their efforts on industries experiencing rapid growth and demand for thiochemical products. For instance, the agrochemical industry requires sulfur-based compounds for pesticide formulations, while the oil & gas sector relies on thiochemicals for sour gas treatment and drilling fluid additives. By targeting high-growth industries such as these, companies can capitalize on emerging opportunities and gain market share in lucrative segments.

Innovation and Research Development: Investment in research and development (R&D) is essential for maintaining a competitive edge in the thiochemical market. Companies that innovate and develop new thiochemical formulations, processes, and applications can differentiate themselves from competitors and gain market share. R&D efforts focus on improving product performance, enhancing environmental sustainability, and exploring novel uses for thiochemicals in various industries.

Strategic Partnerships and Collaborations: Forming strategic partnerships or collaborations with other companies in the value chain can help companies expand their market share and capabilities. This may involve collaborating with sulfur suppliers, chemical manufacturers, or end-users to develop new products, enter new markets, or access complementary technologies. Strategic alliances enable companies to leverage shared resources, expertise, and market access, ultimately increasing market share.

Customer Relationship Management: Building strong relationships with customers is crucial for gaining market share in the thiochemical industry. Companies that provide excellent customer service, technical support, and customized solutions can enhance customer satisfaction and loyalty. By understanding customer needs and preferences, companies can tailor their products and services to meet specific requirements, thereby increasing customer retention and market share.

Brand Building and Reputation Management: Establishing a strong brand reputation and positive industry reputation is essential for gaining market share in the thiochemical market. Companies that are recognized for quality, reliability, and innovation are more likely to attract customers and command higher market share. Investing in brand building activities, such as advertising, trade shows, and public relations, can help companies strengthen their market position and differentiate themselves from competitors.

Price Competitiveness and Value Proposition: Competing on price while maintaining product quality and value is another strategy used by companies to gain market share in the thiochemical market. By offering competitive pricing relative to competitors and highlighting the value proposition of their products, companies can attract price-sensitive customers and win business. However, companies must balance price competitiveness with profitability to ensure long-term sustainability in the market.

Continuous Monitoring and Adaptation: Companies must continuously monitor market trends, competitive activities, and customer feedback to adapt their market share positioning strategies accordingly. By staying agile and responsive to changes in the market environment, companies can seize new opportunities, address emerging challenges, and maintain a competitive advantage in the dynamic thiochemical market. Regular assessment and adjustment of market share positioning strategies are essential for long-term success and growth in the industry.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation   2021
Historical Data 2019 & 2020
Forecast Period   2021 to 2030
Growth Rate   3.89% (2021-2030

Thiochemical Market Overview 

Thiochemical Market Size was valued at USD 2.60 Billion in 2023. The Thiochemical industry is projected to grow from USD 2.67 Billion in 2024 to USD 3.30 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.70% during the forecast period (2024 - 2032). Thiochemicals are compounds with a sulfur ion replacing the oxygen ion in the atom. The demand for thiochemicals may be boosted by the requirement for sulfur derivatives, which are used in a variety of industries. During the forecast period of Thiochemical Market, demand for these compounds is predicted to skyrocket due to their use in the oil and gas and animal nutrition industries. The prohibition on the use of methyl bromide in the manufacture of soil fumigants creates a market opportunity. Over the projection period, the introduction of dimethyl disulfide as a viable alternative that adheres to the Montreal Protocol's rules could offer up new prospects for market expansion. Poultry consumption is predicted to rise in the Asia-Pacific area, particularly in India and China, as a result of the rising population, which will raise the demand for poultry meat and eggs, resulting in higher thiochemical usage in the industry. The rising usage of thiochemicals in the synthesis of methionine, a key nutrient for the poultry sector, is projected to propel the market forward. The market's expansion is anticipated to be hampered by the high toxicity of thiochemicals such as isopropyl mercaptan and tetrahydrothiophene, which are combustible and exceedingly harmful to aquatic species. Increased market penetration in African markets such as South Africa and Kenya, on the other hand, is likely to present significant opportunities for the thiochemicals industry in emerging economies.

Thiochemical Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Report Overview


This report covers current events and trends in the market for thiochemicals to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts are able to make highly accurate projections. MRFR’s report includes a thorough analysis of the global thiochemical market segmented on the basis of product type, end-user, and region with astute insights. The report has been prepared to assist industry players in making the right decisions which can culminate in fruitful returns. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.


Segment Overview


By product type, the thiochemical market comprises sulfonyls, thioglycolics, sulfides & polysulfides, sulfates & sulfites, mercaptans, and others. The mercaptans segment is predicted to be worth USD 1,444.8 million by 2024. The demand for gas iodizers to control gas leakage is expected to catapult the segment growth over the forecast period.


Oil & gas, animal nutrition, agrochemicals-market-1267'>agrochemical-market-749'>agrochemicals, chemicals, pharmaceuticals, cosmetics & personal care, electrical & electronics, and others constitute as major market end-users.


The segments and sub-segments covered in the report are analyzed under five major regions – North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA), with respective country-level market sizing. The standard definition of “thiochemical” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.


Players Covered


Taizhou Sunny Chemical Co., Ltd (China), SHINYA CHEM (China), Arkema SA (France), Zhongke Fine Chemical Co., Ltd. (China), Affon Chemical Co., Ltd. (China), TORAY INDUSTRIES, INC. (Japan), Chevron Phillips Chemical Company (U.S.), Varsal (U.S.), HEBEI YANUO Bioscience Co., Ltd. (China), Uniwin Chemical Co., Ltd. (China), Oxon Italia S.p.A. (Italy), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany), and BASF SE (Germany) are reputed players currently operational in the thiochemical market. The market is characterized by expansions and partnerships. This is evident by the establishment of the thiochemicals plant by Arkema in Malaysia. This move has strengthened Arkema’s position in Asia providing it an edge over its competitors.


The report offers comprehensive profiles on these market players and assesses their current standing in the thiochemical market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.Recent Development


The US Food and Drug Administration has given Apotex Corp. approval and the Competitive Generic Therapy designation for its new generic variation of Atropine Sulfate Ophthalmic Solution USP, with a concentration of 1% increasing Thiochemical Market. Milla Pharmaceuticals, a division of the Alter Pharma Group, has received FDA approval for its latest generic version of magnesium sulfate in water for use in injection in single-patient use containers of non-polyvinyl chloride.

Research Methodology


Market Research Future (MRFR) employ a selective body of methods which assist in a scientific and systematic approach to research of the given field of study. Primary methods such as interviews with decision makers of leading competitors in the market have been used along with secondary methods to provide a comprehensive view of the market scenario. Credible sources such as white papers, annual reports, and SEC filings have been used as a part of objective secondary research methods. Top-down and bottom-up approaches have been applied to the field of study to provide accurate estimation and validation of the market. Inquisitive and proficient data analysts exhaust every line of research based on pertinent parameters to offer intelligent inputs and a dependable understanding of the market in its entirety.


Analysis Period



  • Base Year - 2017

  • Projection Period - From 2018 to 2024

  • Market Denomination - USD Million

  • Volume Unit – Kilo Tons

  • Conversion Rate - Considered as per the respective financial years


For the scope of research, the report offers a comprehensive analysis of the global thiochemical market.


Product Type



  • Mercaptans

  • Sulfide & Polysulfides

  • Sulfonyls

  • Thioglycolics

  • Sulfates & Sulfites

  • Others


End-use Industry



  • Oil & Gas

  • Animal Nutrition

  • Chemical

  • Pharmaceutical

  • Agrochemical

  • Electrical & Electronics

  • Cosmetics & Personal Care

  • Others


Region



  • North America; The U.S., and Canada

  • Europe; Germany, Italy, Russia, the U.K, France, Germany, Spain, and Rest of Europe

  • Asia Pacific (APAC); China, Japan, India, Indonesia, Australia, New Zealand, South Korea, and Rest of APAC

  • Latin America; Argentina, Mexioc, Brazil, and Rest of Latin America

  • The Middle East & Africa (MEA); Turkey, Gulf Cooperation Council (GCC), North Africa, and Rest of the MEA


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