Thio refers to a chemical, generally
an ion, where the oxygen atom in the compound is replaced by a sulphur
ion. Almost all chemicals where the oxygen ion is replaced by a sulphur
ion are known as thiochemicals. A reaction in which oxygen is converted
to sulphur is called as thionation or thiation. Thiochemicals include
thiourea, thiosulphate etc.
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Some of the key applications of
thiochemicals constitute the animal nutrition industry and the oil and
gas industry. Thiochemicals constitute a very niche market in the global
chemical market. Sulphur is the key raw material that is utilized in
the thionation process, which on further processing gives methyl
mercaptan and other mercaptans. Methyl mercaptan is employed in animal
nutrition and in the oil and gas industries while other mercaptans are
used as gas odorizers in gas leakage detection and in the polymers
industry as a polymerization agent. Methyl mercaptans are majorly used
in refineries for fuel desulfuring in the oil and gas industry and in
crackers as anticocking agents.
Some of the key drivers of the
thiochemicals market include the animal nutrition industry and the oil
and gas industry. The increase in the global poultry consumption, the
growing population and the untapped emerging countries in the Middle
Eastern region are the main drivers for the thiochemicals market. In
addition, stringent regulations on the sulfur content in fuel coupled
with new petrochemical projects in the Middle Eastern countries, Asian
countries, and in the U.S. and the growig use of natural gas are few of
the other drivers for the thiochemicals market. In addition, the fast
growing applications of thiochemicals for the desulfuration of gasoline
and diesel along with its use in gas leakage detection is likely to
boost the market for thiochemicals during the forecast period. A few
thiochemicals including thioglycolates and thiolactates are used as
active ingredients in the cosmetic industry as cold wave formulations
for hair perms and hair straighteners. Moreover, thioglycolic acids are
basic materials for the synthesis of PVC heat stabilizers.
Among the four regions, the major
market for thiochemicals is North America. Owing to the high consumption
of poultry in this region along with the growing number of oil and gas
fields, the demand for thiochemicals is likely to increase over the next
few years. The demand for thiochemicals in Europe followed that of
North America. This is due to the stringent rules and regulations put
forth by the EU in order to reduce the sulphur content in the fuel. In
addition, the increased number of oil and gas fields in Middle Eastern
countries is expected to boost the market for thiochemicals during the
projected period. The demand for thiochemicals in emerging economies in
the Asia Pacific region especially India and China is anticipated to
grow owing to the change in food preferences in various population
groups. However, the cost of production of thiochemicals and the
volatility in the price of raw materials are likely to be the main
restraints of the thiochemicals market.
Arkema S.A. is one of the largest
manufactures of a wide range of thiochemicals that are used by various
end user segments. Some of the major companies present in the
thiochemicals market include Arkema S.A., Chevron, Philips and others.
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This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
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- Current market trends
- Market structure
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