Global Thiochemicals Markets, 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 7, 2018--The “Global Thiochemicals Market - Segmented by Type, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.The global thiochemicals market is expected to register a moderate CAGR during the forecast period of 2018-2023.The market is driven by rising demand in animal nutrition and the growing oil & gas industry. However, the market is restrained by regulations on sulfur.
Rising Demand in Animal Nutrition is Driving the MarketIn poultry, thiochemicals are majorly used in the form of methyl mercaptan, which is used in the production of methionine. Methionine is mainly used as animal nutrition for poultry animals. Therefore, the increasing demand for poultry meat is expected to drive the thiochemicals market.Poultry consumption is expected to increase in Asia-Pacific countries like India and China, in response to an expanding population and a rapidly expanding middle class, which is spurring the demand for poultry meat and eggs.According to USDA’s Foreign Agricultural Service (FAS), China’s broiler production is expected to increase by 700,000 metric ton to 11.7 million metric ton in 2018, in response to the resurging consumer demand after years of decline.Key HighlightsPaints & Coatings - The Fastest Growing ApplicationNorth America Accounts for the Largest Share
Notable Market DevelopmentsArkema announced a project to double its methyl mercaptan production capacity at its Kerteh site in Malaysia, to support the robust growth of the animal feed, petrochemical, and refining markets in Asia and strengthen its world-leading position in high-value-added sulfur derivatives.Chevron Phillips Chemical Company LLC expanded its plant in Tessenderlo, Belgium, by debottlenecking its production unit for Ethyl Mercaptan (EM) and Tetrahydrothiophene (THT). This expansion has resulted in an increase of 65% in production capacity.
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company ProfilesArkema GroupHebei Yanuo Bioscience Co. Ltd.Chevron Phillips Chemical CompanyBruno Bock Chemische Fabrik GmbH & Co. KGToray Fine Chemicals Co. Ltd.Langfang Jinshenghui Chemical Co. Ltd.Taizhou Sunny Chemical Co. Ltd.Dexing Zhongke Fine Chemical Co. Ltd.Dr. Spiess Chemische Fabrik GmbH
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Related Topics:Oilfield Chemicals
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
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PUB: 09/07/2018 08:58 AM/DISC: 09/07/2018 08:58 AM